Minister of Communi- cations Technology, Barr. Adebayo Shittu, says the Nigerian Postal Service has the capacity to generate N1 trillion annually into federal government purse.
The minister made the revelation at the introduction of NIPOST stamp duty in Abuja. Shittu, who described the occasion as a fulfillment of long expectation posited that with efficient management of the Stamp Duty rates as a critical revenue source, the country is sure of raking over N1 trillion every year, saying that the implementation of the duty is long overdue.
‘‘The full implementation of Stamp Duty is overdue. Records show that Nipost earned N4.87 billion in 2013 with a little scratch of the Stamp Duties rates. ‘‘I am confident that with efficient management of this revenue source, we can add over a trillion naira to government purse every year,’’ he said.
The Minister frowned that Nipost is currently placed on the Consolidated Public Service Salary Structure with no special allowance as applicable to similar revenue generating agencies such as Nigeria Custom Service and Federal Inland Revenue Service. He avowed that his administration would effect a change that will make the agency a high profile revenue generating organisation.
‘‘ This is the time to reverse the status of Nipost. The geographical spread of Nipost places it at a vantage position to lead in providing financial inclusion service to the active poor,’’ he added.
He said that Nigerians urgently desire the services of NIPOST and urged the new management to collaborate with private investors that possess the competencies and technology to make the dream possible. His words, ‘‘we at the ministry look forward to working with you as partners in progress. With the new PMG, managing the day-to-day affairs of the postal services sector, I believe we are ready to kick-start a new revolution in NIPOST with a clear policy direction already defined by the ministry.’’
He further harped on the implementation of the national Addressing Policy, as obtained in more organised societies, and promised to bring some sanity into the numbering system to all kinds of buildings, especially in the urban and semi urban settlements.
This he said will ensure that mails are delivered faster and cheaper, adding that a credible national Addressing Policy will aid planning and internal security. He expressed confidence that the agency posses the potential to contribute substantially not just to revenue generation but the revival of the economy.
Earlier in his address, the new PMG, Bisi Adegbuyi, assured that he would criss-cross the nooks and crannies of Nigeria to market postal services, adding that he would bring to fore the nation’s socio-economic development and cultural promotion.
The PMG also assured that under his watch will bring into limelight the name of Nigeria amongst committee of nations. ‘’Though, the challenges are enormous nevertheless with the assurances given and the level of co-operation of my colleagues, the challenges are surmountable,’’ he said.