Postal Commission Bill Threatens 100,000 Courier Jobs– LCCI

  • Postal Commission Bill Threatens 100,000 Courier Jobs– LCCI

The Lagos Chamber of Commerce and Industry has kicked against the Nigeria Postal Commission Bill currently before the National Assembly.

The chamber in a statement signed by its Director General, Mr. Muda Yusuf, on Sunday, expressed reservation about the bill, saying that it was inimical to private sector investments in the courier business.

It noted that the passage of the bill in its current form would put over 100,000 jobs in the courier sector at risk and jeopardise over N300bn investments in courier services business.

It said it would further worsen the country risk rating of Nigeria, a country that was already grappling with enormous perception problems by investors.

“It is a negation of the ease of doing business agenda of the Federal Government and not in consonance with the fundamental principles of the Economic Recovery and Growth Plan,” the statement read in part.

Yusuf regretted the fact that the bill had been passed and was awaiting concurrence by the House of Representatives.

He appealed that the progression of the bill be halted and the hurtful provisions expunged.

He said, “The LCCI is worried, in particular, about the following provisions in the bill; imposition of an annual levy of 2.5 per cent of the turnover of courier companies to be paid to the proposed Postal Services Commission; powers conferred on the proposed PSC to fix rates for courier services; monopoly privilege conferred on the Nigerian Postal Service for delivery of items weighing 1kg and below.

According to him, all the provisions are not consistent with the commitment of the National Assembly to private sector development which was affirmed by the Senate President, Dr Bukola Saraki, at the inauguration of the National Assembly Business Environment Roundtable in March 2016.

About the Author

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

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