FG Splits NIPOST Into Three Different Subsidiaries

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Federal Government Unbundles NIPOST into Three Subsidiaries

The Federal Government has finally started splitting the Nigerian Postal Service into three different subsidiaries that henceforth will operate on the principle of commercial viability, stated the Bureau of Public Enterprises (BPE).

Alex Okoh, the Director-General, BPE, on Wednesday said the ongoing restructuring was not privatisation of NIPOST but an unbundling process.

He explained that the core function of the organisation would remain with NIPOSt as a parent company.

The Director-General stated this during the inauguration of the sub-committee of the implementation committee for NIPOST reform, restructuring and modernisation at the bureau’s head office in Abuja.

Okoh listed the three commercial subsidiaries to be unbundled from NIPOSt as NIPOST Transport and Logistics Company, NIPOST Microfinance bank Limited and NIPOST Properties and Development Company.

He added that the clarification was necessary to enlighten Nigerians on the ongoing process, especially the workforce of NIPOST that the ongoing commercialisation, reform and modernisation of NIPOST was not privatisation.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya

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