The Senate on Tuesday threatened the complete privatisation of the Nigerian Postal Service if the agency continues operating at a loss, according to The Punch.
The Chairman of the Joint Committee on Finance, Senator Sani Musa, issued the warning during the continuation of the 2024-2026 Medium-Term Expenditure Framework public hearing at the National Assembly complex in Abuja.
Quizzing the Post-Master General of the Federation, Omotola Odeyemi, the chairman berated the lack of functionality of NIPOST offices across the country and the abysmal revenue generation, particularly from stamp duties.
The committee therefore directed the PMG to provide the names of all staff members of the organisation, allocation and salary to the committee for further investigations.
It also gave NIPOST two years to establish a plan on how to revamp the service and change the business model to achieve self-sustenance rather than operating at a loss, otherwise, it would enact legislation to ensure total privatisation.
Odeyemi incurred the wrath of the senators when she said her agency projected N18bn as personnel cost for the NIPOST 16, 000 workers across the country.