By 
By Osasome, C.O and Nana Theresa Timothy
The Nigeria Postal Service (NIPOST) has announced a record-breaking 275% increase in revenue for the year 2024. This is signaling a remarkable turnaround for the once-struggling agency. The milestone was disclosed by the Postmaster General and CEO, Ms. Tola Odeyemi, who credited the achievement to a series of transformative reforms and strategic innovations.
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NIPOST set an ambitious target of a ₦10 billion revenue increase for 2024 and surpassed expectations through a comprehensive overhaul of its operations. The agency’s growth marks a significant recovery after years of decline. It positions NIPOST as a key player in Nigeria’s evolving logistics and financial services sectors.
Key Drivers of Revenue Growth
Odeyemi highlighted the critical factors that contributed to the unprecedented revenue growth.
- Plugging Revenue Leakages: Deploying Point of Sale (PoS) terminals in high-transaction areas streamlined payment processes, increased transparency, and improved customer experience.
- Service Quality Enhancement: Improvements in last-mile delivery, courier services, and digitized platforms enhanced operational efficiency and customer satisfaction.
- Innovative Partnerships: Strategic collaborations with private-sector players expanded NIPOST’s service portfolio, particularly in logistics and financial services.
- Digital Transformation: Investments in the digitization of core services positioned NIPOST as a modern, technology-driven agency.
“One of the major achievements for us in 2024 has been a 275% increase in revenue from 2023. We achieved this by plugging revenue leakages through the deployment of PoS terminals and by significantly raising our service quality,” Odeyemi stated.
Looking Ahead: 2025 Growth Initiatives
Building on its 2024 successes, NIPOST is gearing up for a series of transformative projects in 2025 aimed at sustaining its growth trajectory and enhancing service delivery nationwide. These include:
- National Addressing System and Digital Postcode Services: Rolling out a comprehensive addressing system to improve logistics and accessibility.
- Infrastructure Upgrades: Renovating and modernizing key locations in Abuja, Lagos, and Kaduna to improve service standards.
- Sector-Specific Logistics: Developing specialized logistics solutions for agriculture and healthcare to address critical national needs.
- Financial Services Relaunch: Expanding its portfolio to include more accessible and inclusive financial services through local NIPOST branches.
- Postal Institute Enhancements: Upgrading the institute to support change management initiatives and staff training.
“These initiatives will position NIPOST as a leader in postal services, logistics, and financial inclusion across Nigeria. We are committed to increasing access to government services through your local NIPOST locations,” Odeyemi added.
A New Era for NIPOST
The reforms have not only rejuvenated NIPOST but also positioned it as a key enabler of Nigeria’s digital economy and logistics transformation. By addressing longstanding inefficiencies and leveraging technology, the agency has emerged as a model for public sector reform and innovation.
As NIPOST prepares for its 2025 initiatives, its growth story underscores the potential of state-owned enterprises to deliver value through strategic innovation, robust management, and a commitment to service excellence.
