NIPOST reports 275% revenue growth in 2024
The Nigeria Postal Service recorded a remarkable 275% increase in revenue in 2024, according to the Postmaster General, Ms. Tola Odeyemi.
This significant growth marks a major achievement for the service, which had been grappling with declining revenues in previous years.
Speaking about the accomplishment, Odeyemi attributed the surge to the service’s efforts to eliminate revenue leakages, including the introduction of Point of Sale erminals in high-transaction areas and enhancing service quality, which led to increased customer patronage.
Earlier in 2024, NIPOST had set a revenue target of N10 billion, and while the exact figure remains undisclosed, the 275% revenue increase suggests substantial progress. For context, NIPOST’s revenue had dropped by 17%, from N3.6 billion in 2021 to N3 billion in 2022, according to data from the National Bureau of Statistics.
Looking ahead to 2025, Odeyemi outlined NIPOST’s plans to sustain its growth, including upgrades to key facilities in Abuja, Lagos, and Kaduna, and the renovation of its Postal Institute. Additionally, the service will introduce a national addressing system, specialized logistics for sectors like agriculture and healthcare, and a relaunch of its financial services.
NIPOST is also set to improve infrastructure across the country and expand access to government services via local offices. These reforms are part of the broader vision to reposition NIPOST as a critical player in Nigeria’s digital economy, especially through e-commerce integration and last-mile delivery.
NIPOST operates under the Ministry of Communications, Innovation, and Digital Economy, which, under the leadership of Dr. Bosun Tijani, has emphasized revitalizing the service to meet modern expectations. Suggestions for NIPOST’s future include transforming it into a logistics backbone similar to the Nigeria Inter-Bank Settlement System, which would facilitate efficient commerce and trade logistics across the nation.
“This initiative will deploy over 200 security vehicles across the state for enhanced surveillance and stop-and-search operations. At the same time, the government is strengthening forest security through specialised training of forest guards, working in collaboration with local vigilantes and government authorities.”
