The Nigerian Postal Service (NIPOST) announces a 275% increase in revenue for 2024, achieved through strategic reforms and enhanced operational efficiency, according to Postmaster General Tola Odeyemi.
Odeyemi describes the revenue boost as a milestone for the agency, attributing the success to measures that addressed financial leakages and improved service delivery.
“One of our major achievements in 2024 is a 275% revenue increase compared to 2023. We accomplished this by deploying PoS terminals in high-transaction areas and significantly improving service quality,” she states.
Earlier in 2024, NIPOST set a target to generate ₦10 billion in revenue. While the exact amount generated has not been disclosed, the reported growth suggests a strong recovery for the agency, which has faced revenue declines in recent years.
Previously, NIPOST’s revenue fell from ₦3.6 billion in 2021 to ₦3 billion in 2022, reflecting a 17% drop. The 2024 growth signifies a reversal of this trend and renewed optimism for the agency’s future.
Strategic Plans for 2025
To sustain the momentum, Odeyemi outlines key initiatives for 2025, including:
- Digital Postcodes and Addressing System: Introducing a nationwide addressing system to improve logistics and service delivery.
- Specialized Logistics: Expanding into sectors like agriculture and healthcare logistics to support critical industries.
- Financial Services Relaunch: Revitalizing financial offerings to meet modern demands.
- Infrastructure Renovations: Upgrading facilities in key cities, including Abuja, Lagos, and Kaduna.
- Improved Public Service Access: Enhancing citizens’ access to government services through local postal offices.
“Our focus in 2025 is to deepen the transformation of NIPOST through innovative logistics, financial services, and infrastructure upgrades,” Odeyemi emphasizes.
The agency, under the Ministry of Communications, Innovation, and Digital Economy, is repositioning itself to play a critical role in Nigeria’s logistics and e-commerce landscape. Communications Minister Dr. Bosun Tijani has urged public contributions to help reshape NIPOST into a modern and efficient organization.
Suggestions for this transformation include leveraging NIPOST as a central infrastructure hub for licensed courier companies and integrating with e-commerce platforms to enhance last-mile delivery, returns management, and secure payment systems.
These efforts aim to make NIPOST a key player in Nigeria’s digital economy and logistics industry, driving innovation and economic growth.
 announces a 275% increase in revenue for 2024, achieved through strategic reforms and enhanced operational efficiency, according to Postmaster General Tola Odeyemi.){kind=link}