The decision to undertake the reform of the Nigeria Postal Service (NIPOST) was borne out of the Federal Government policy on privatization and commercialization of its enterprises, especially those identified as underperforming. The objective is to optimize their delivery of service and productivity, as the case may be. It was in line with that policy that the National Council on Privatisation (NCP), at its meeting of 31st October, 2017, approved the Reform of the Postal Sector and specifically, the Restructuring and Modernisation of NIPOST.
At that meeting, the NCP also approved the constitution of a Steering Committee to be chaired by the Minister of Communications & Digital Economy, to drive the reform process and review the Postal Sector Policy. It equally approved the constitution of a Project Delivery Team (PDT) to serve as the secretariat of the Steering Committee and to develop quick fix reform strategies to make NIPOST commercially viable; and the appointment of KPMG as Transaction Advise.
The reform essentially involves the unbundling of NIPOST into viable subsidiary companies which will operate on the principle of commercial viability, while the core postal service function will remain with NIPOST as the parent company.
Consequent to the appointment of KPMG as it the Transaction Adviser (TA) on 12th November 2018, the Secretariat held the Kick-Off Meeting on 5th December 2018 with the management of NIPOST and the Transaction Advisers in attendance. This signaled the commencement of the transaction process.
