The Nigerian Postal Service (NIPOST) has reported a 275% revenue growth in 2024, marking a significant turnaround from 2023, according to Tola Odeyemi, Postmaster General and CEO of the nation’s postal service.
The state-owned organisation, which has faced years of challenges due to financial inefficiencies and outdated infrastructure, credited the impressive performance to innovative measures and an emphasis on modernisation.
Odeyemi, speaking in a video posted on X by Dr. Bosun Tijani, Minister of Communications, Innovation, and Digital Economy, where heads of agencies under his Ministry provided updates on their achievements, says the agency’s achievements were driven by two main factors: addressing revenue leakages, and upgrading its operational framework.
Nigeria’s Postmaster General credited the revenue surge to targeted reforms addressing inefficiencies and enhancing service delivery. “We have achieved this by one, plugging a lot of the revenue leakages that we have by deploying POS terminals for payments in our high transaction areas as well as ensuring that our quality of service goes up,” she says.
Postmaster General: Targeted reforms caused revenue surge in NIPOST
Nigeria’s Postmaster General credited the revenue surge to targeted reforms addressing inefficiencies and enhancing service delivery. “We have achieved this by one, plugging a lot of the revenue leakages that we have by deploying POS terminals for payments in our high transaction areas as well as ensuring that our quality of service goes up,” she says.
Odeyemi also outlined steps taken to modernise infrastructure, highlighting upgrades in Abuja, Lagos, and Kaduna. “Secondly, in terms of our infrastructure, we have started by renovating and upgrading some of our locations here in Abuja, Lagos, in Kaduna by upgrading our Postal Institute.” She says this is key to the change management expected from NIPOST in the coming years.
These infrastructure upgrades form a part of NIPOST’s ongoing facility upgrades, with a target of modernising 50% of NIPOST’s 1,400 locations by 2027. Back in July, the Postmaster General “suggested that a constant and strategic upgrade of regional infrastructure is crucial for a sustainable and competitive logistics and courier ecosystem,” during a Postmaster General of Federation meets Nigeria-British Chamber of Commerce (NBCC) event held in Lagos.
Despite its successes, NIPOST continues to grapple with challenges such as poor road infrastructure, mail security concerns, and outdated facilities. However, the agency says it is investing in technology and process improvements to overcome these hurdles.
In 2024, NIPOST gained partnerships like its collaboration with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN). Through a Memorandum of Understanding, the partnership aims to cut logistics costs for registered businesses by 15%, improving operational efficiency.
As NIPOST plans for 2025, Odeyemi also reveals several projects to expect from the agency. Among them is the launch of a National Addressing system and Digital Postcode, expected to enhance mail delivery accuracy and support e-commerce growth. The agency is also prioritising specialised logistics services for agriculture and healthcare, sectors that often face unique supply chain challenges in Nigeria.
Financial services are also set for a relaunch, and an “infrastructure upgrade which would take place across the federation,” according to Odeyemi.
According to the Postmaster General, Nigerians can also expect “an increase in access to government services through your local NIPOST location.”
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