The Nigerian Senate has issued a stern warning to the Nigerian Postal Service (NIPOST), threatening complete privatization if the agency fails to address its ongoing financial losses.
Chairman of the Joint Committee on Finance, Senator Sani Musa, delivered the ultimatum during the 2024–2026 Medium-Term Expenditure Framework (MTEF) public hearing in the nation’s capital.
Expressing dissatisfaction with the functionality of Nigerian Postal Service offices nationwide and the dismal revenue generated, particularly from stamp duties, Senator Musa directed criticism at Post-Master General of the Federation (PMG), Omotola Odeyemi.
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The committee has requested a detailed report, including the names, allocations, and salaries of all NIPOST staff, for further investigation.
In a decisive move, the Senate granted NIPOST a two-year window to devise a comprehensive plan for service revamp and a shift in the business model to achieve self-sustainability.