The Senate has threatened that the Nigerian Postal Service (NIPOST) will be completely privatised if the agency continues operating at a loss.
The warning was issued on Tuesday by the Chairman of the Joint Committee on Finance, Senator Sani Musa, during the continuation of the 2024-2026 Medium-Term Expenditure Framework (MTEF) public hearing in Abuja, the nation’s capital.
The Chairman while quizzing the Post-Master General of the Federation (PMG), Omotola Odeyemi, berated the lack of functionality of NIPOST offices across the country.
He also frowned at the abysmal revenue generation, particularly from stamp duties.
The committee therefore directed the PMG to provide the names of all staff of the organisation, allocation and salary to the committee for further investigation by the Upper chamber.
The Committee while threatening that the lawmakers would enact legislation to ensure total privatisation if nothing changes, gave NIPOST two years to establish a plan on how to revamp the service and change the business model to achieve self-sustenance rather than operating at a loss.
