2024-2026 MTEF, FSP: Fate of NIPOST hangs in the balance

By Haruna Salami

The fate of Nigeria Postal Service (NIPOST) hangs in the balance as the 2024-2026 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) interactive session with MDAs continued at the Senate Tuesday.

Trouble started for the Federal Government agency when the Chairman of the Senate joint Committee, Sani Musa (Niger East) said “there is no single functional post office in Nigeria” and revealing that the Senate will bring a legislation for the NIPOST to be fully privatized.

The Senate Committee was looking at the revenue and expenditure of ministries departments and agencies (MDAs) of government as premise to project the 2024 budget proposals.

The upper chamber was furious that NIPOST proposes N18 billion personnel cost in 2024 but plans to rake in N3 billion as revenue next year.

Attempts by the Post Master General, Tola Odeyemi to explain this scenario did not impress the law makers.

Senators made several suggestions on how to reposition NIPOST by changing post offices scattered across the length and breadth of the country to information and communication technology (ICT) centres for the youth as against its traditional mail and courier services.

After these contributions of the law makers, the Committee Chairman, Sani Musa directed her to “forward all the receipts of your remittances; names of your staff, location and their pay and submit your future plans for moving the agency forward”.

Sani said the committee will be left with two options “to either be fully privatized or to be self sufficient in two years”.