The federal government through the ministry of communication has signed a Memorandum of Understanding (MoU) with the Bureau of Public Enterprises (BPE) for the implementation of the postal sector reform, restructuring and modernisation of the Nigerian Postal Service (NIPOST).
Speaking at the signing ceremony, yesterday in Abuja, the minister of Communication, Barr. Adebayo Shittu said the event concluded the process of engagement of the transaction adviser that would work with the steering committee and other stakeholders to kick-start activities and the process of transforming NIPOST.
Shittu maintained that it is the desire of the current administration to transform the postal sector into the most efficient and viable sector in the Nigerian economy and one of the best in the world.
“The postal sector reforms, restructuring and modernisation of NIPOST is a collaborative project of the federal ministry of communications, BPE and NIPOST, which commenced with the inauguration of a steering committee and Project Delivery Team (PDT),” he said.
Adebayo further explained that the engagement of a transaction adviser to assist the relevant stakeholders in executing the assignment was approved by Vice President Yemi Osinbajo who is the chairman of the National Council on Privatization (NCP).
Shittu therefore urged the transaction adviser to demonstrate competence, commitment and efficiency in executing the task within three months earlier than the six months deadline slated by the NCP, describing the project as a very important one.
He assured that the steering committee and all other stakeholders involved in the project are committed to working with KPMG to ensure that the project would be delivered as scheduled, emphasising that time is of the essence.
In his address, director-general of BPE, Alex Okoh reiterated that the contract signing was a significant milestone towards the implementation of the postal sector reform.
“The success of the postal sector reform lies on the transaction adviser since the NCP has approved six-month timeline for the execution of the project; hence, prompt delivery of the project, commitment and zeal should be implored to ensure that the reform will bring the best of NIPOST to be the best integrated postal service providers in the world,” he stated.
The objectives of the transaction include preparing NIPOST for corporatisation by providing advice and support for the short-term restructuring of the enterprise.
Also, to ensure provision of the requisite advice and support required for the federal government of Nigeria to implement the restructuring and modernisation of NIPOST in a manner that is consistent with relevant national policies; laws and international best practices.
It would also provide advice in core-operational areas so that the NIPOST could be effectively run in the post restructuring and modernisation era, thus making it commercially viable and attractive to customers; while still discharging the social services expected of a government agency.