Privatize or Commercialize NigComSat? FG to decide: NIPOST to be restructured


Decisions are being made by the Federal Government to either privatize or commercialize the Nigerian Communications Satellite (NIGCOMSAT) Limited as it is currently under-patronized. The lack of patronage, according to the Minister of Communications, Mr. Abdur-Raheem Adebayo Shittu has been attributed to the fact that the communication satellite had only one signal channel.

The research to determine the best option of whether to commercialize or privatize the company is already underway and is being carried out by the Bureau of Public Enterprises (BPE) as directed the minister.

During his speech in Abuja while receiving the acting Director General of BPE, Dr. Vincent Onome Akpotaire, who paid him a courtesy visit, the minister also went further to divulge that plans are being made by the FG to turn the Nigerian Postal Service (NIPOST) into a mega conglomerate offering services in e-Commerce, e-Learning/Library Services and issuance of the Nigerian Passport and Drivers’ License among other security services. To achieve this, the government was planning to constitute a technical committee which will provide solutions to the issues grinding against the postal sector and to present a policy which will be directed at harnessing the economic potential of NIPOST. The privatization agency and all stakeholders would be included on this proposed committee.

However, Akpotaire said NIPOST, though in a state of comatose, had sufficient assets to generate economic and commercial services especially in view of the Central Bank of Nigeria’s National Financial Inclusion Strategy, NIPOST would be able to kick off skeletal services within the scope of the resources set aside by the CBN, adding that through the vast postal network available to it, the postal service was equipped to deliver financial services to remote areas currently excluded by financial institutions.

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