BPE, KPMG Sign Contract for NIPOST Restructuring

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Alex Okoh
BPE Director General, Mr. Alex A. Okoh

By Ndubuisi Francis in Abuja

The Bureau of Public Enterprises (BPE) and the Nigerian Postal Service (NIPOST) have signed a contract agreement with KPMG — the Transaction Adviser for the postal sector reforms and the restructuring/modernisation of NIPOST.

At the contract signing ceremony in Lagos, the BPE Director-General, Mr. Alex Okoh, reiterated the commitment of the Bureau to ensuring that the principle of integrity, professionalism and accountability, which played out through the selection process of the transaction adviser, is maintained towards transforming NIPOST “as one of the best integrated postal service providers in the world”.

He said that as the agency charged with the mandate of reforming the nation’s postal sector, the Bureau would see to the ultimate modernisation and restructuring of NIPOST.

The director general recalled that the project commenced with the setting up and inauguration of a Steering Committee and Project Delivery Team (PDT) as approved by the National Council on Privatisation (NCP).

A statement issued by the Head, Public Communications, BPE, Amina Tukur Othman, said Okoh noted that the success of the postal sector reform hinges on the dexterity and commitment of the transaction adviser and appealed to all those involved in the project to deploy creative thinking, unflinching commitment and zeal in the prompt delivery of the assignment.

He commended the Communication Minister Adebayo Shittu, who is also the Chairman of the Steering Committee, for his unwavering support and commitment to the project.

Earlier in his remarks, Shittu implored the transaction adviser to demonstrate competence, commitment and efficiency in the execution of the project.

He said the President Muhammadu Buhari administration was determined to transform the country’s postal sector into one of the most efficient and viable sectors of the Nigerian economy and the best in the world.

The minister stated that the timeline for the execution of the project is six months and that the “Steering Committee and all other stakeholders involved in the exercise are committed to working with you to ensure that the project is delivered as scheduled”.

Shittu said the objectives of the transaction include:
· To prepare NIPOST for corporatisation by providing advice and support for the short term restructuring of the enterprise;

· To provide the requisite advice and support required for the federal government to implement the restructuring and modernisation of NIPOST in a manner that is consistent with relevant national policies, laws and international best practices; and

· To provide advice in core operational areas so that NIPOST can effectively run in the post-restructuring and modernisation era; thus making it commercially viable and attractive to customers; while still discharging the social services expected of a government agency.