Federal Govt To Unbundle NIPOST And Create 5 New Companies From It

The Federal Government has promised to carve out five new companies from the Nigerian Postal Service as plans to unbundle the service gets underway.

This was made known by the Minister of Communications, Adebayo Shittu.

#Economy News: Unbundling #NIPOST: @HMAdebayoShittu says FG to carve five firms out of #NIPOST

1 NIPOST Banking & Insurance Coy
2 NIPOST Transport and Logistics Coy
3 NIPOST Property and Development Coy
4 NIPOST e-Commerce Services Coy
5 NIPOST e-Government Services Coy.

— Stockman (@StockmanNigeria) October 24, 2018

Shittu said the move was part of efforts to reform the postal service and put it on the path of profitability.

According to him, the five new companies are NIPOST Banking and Insurance Company, Transport and Logistics, Property and Development, e-Commerce and e-Government Services Company.

He added that the initiatives will create more jobs and services for Nigerians and also open revenue streams for the government.