NIPOST Revenue Fell By 44% in Four Years- NBS

NIPOST Revenue Fell By 44% in Four Years- NBS

In recent data released by the National Bureau of Statistics (NBS), the Nigerian postal service (NIPOST) generated an estimated ₦3.01 billion from its postal activities across the country in 2022.

This figure marked a decline of approximately 17.05 per cent from the ₦3.63 billion generated in 2021. The report also highlighted other significant changes in the postal activities.

The total number of Post Offices and Postal Agencies decreased by 19.43 per cent, dropping from 2,794 in 2021 to 2,251 in 2022. Similarly, the number of installed postal boxes saw a slight decline of 0.08%, from 837,428 in 2021 to 836,731 in 2022.

One notable change was the decrease in Private Mail Bags (PMBs), which declined by 8.44% from 22,689 in 2021 to 20,775 in 2022.

However, there was a substantial increase in the total number of postal articles handled in 2022, which saw a significant rise of 102.05%.

The figures jumped from 17.7 million in 2021 to 35.7 million in 2022. The report further provided a breakdown of these articles, stating, “Domestic mail handled was 15,669,072, while mail dispatched abroad was 543,893, and mail received from abroad and delivered in Nigeria was 19,463,153.”

Among the 36 states of the federation, Lagos recorded the highest number of installed postal boxes in the year under review, with 143,416, while Jigawa had the lowest, with only 1,800.

Postal services have been considered by many as old-fashioned, but while this is the case for many, others still see the importance of engaging in traditional postal activities, for its perceived convenience especially as it concerns communication and commerce.