At a time there is a clamour for the government to remove its hand from running businesses, the federal government is planning to dip its fingers more into creating and running more businesses.

The Minister of Communications, Adebayo Shittu has announced plans by the government to carve out five companies from the Nigerian Postal Service, NIPOST.

Shittu, who stated this in an interview with Punch on Monday, disclosed that the move was part of efforts to reform the postal service and put it on the path of profitability.

Prominent among the new businesses are insurance and banking, transport and logistics as well as property and e-commerce.

The five companies to be carved out of NIPOST are expected to ride on some assets and resources currently owned by the postal organisation, which are underutilised or not even used at the moment.

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The exercise being carried out alongside the Bureau of Public Enterprises will also create an independent regulatory body for postal and courier services.

“The icing on the cake will be the reforms that we are bringing to NIPOST. By the grace of God, in the next few months, five new companies will emerge from NIPOST. One will be the NIPOST Banking and Insurance Company; we have the NIPOST Transport and Logistics Company; we have the NIPOST Property and Development Company. We also have NIPOST e-Commerce Services Company, and we have the NIPOST e-Government Services Company.

“We have the steering committee of which I am the chairman. The National Council on Privatisation is expected to give approval for the appointment of a transaction adviser, who will put all the structures in place,” Shittu said.

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