Federal Government has unveiled plans to unbundle the Nigerian Postal Service (NIPOST) into a courier service, microfinance bank among others.

The Minister of Communications and Digital Economy, Isa Pantami, disclosed this on Tuesday during the unveiling of NIPOST’s N50 revenue stamp for denoting transactions in the country.

He listed other aspects of NIPOST unbundling which would take place before the end of the year to include NIPOST transport and logistics, courier services, and microfinance bank.

According to him, these are part of efforts to boost Nigeria’s revenue generation which will be invested into education, security, agriculture, among other sectors in the country.

Pantami expressed optimism that NIPOST would be transformed into a world-class outfit.

“The unveiling of the N50 revenue stamp is the beginning of the transformation of NIPOST. We have recorded modest achievements in NIPOST that will increase its revenue and raise monies for other sectors of the Nigerian economy”.

“Part of the transformation is to unbundle NIPOST. This includes NIPOST Property development Company; this is a company that will bring all the NIPOST Properties together and develop them and generate revenue from them,” he said.

The Minister tasked the staff of NIPOST to double efforts towards increasing revenue generation for the country, as that would be the only justification for the increased welfare package.