NIPOST to create wealth from property recovery in 774 LGAs

NIPOST is one of the nation’s core industry that needs to be urgently upgraded to be more productive

The Nigerian Postal Service (NIPOST) says it is determined to recover all properties of the organisation in the 774 Local Government Areas in the country, with the aim to creating wealth for Nigerians and increasing government revenue.

Abdullahi Bappa-Ahmed, the chairman, Board of Directors, NIPOST Properties and Development Company said this at the 4th edition of the yearly Business and Excellence Awards organised by Dapines Global Investors Ltd in Abuja.

Ahmed said NIPOST Properties and Development Company, is one of the three companies created out of the defunct NIPOST, adding that they are to manage all assets of the organization and create wealth to Nigerians.

He said: “We are to manage landed assets of NIPOST in a very professional way and to generate income to NIPOST and the federal government. We are going to recover all properties belonging to NIPOST.

“NIPOST has a presence in all parts of the country. All the 774 local governments of the country, wherever you go, you see NIPOST offices, staff quarters and landed properties. This company is to manage these properties professionally.

“If you go to some states, you see land owned by NIPOST taken over by some entities, state government encroaching, local government encroaching.

“It is believed that this company will turn around all these properties and create wealth out of them, for the benefit of the company, for the benefit of NIPOST and for the benefit of the federal government.

“We have a lot of properties in Lagos, Enugu, Kano, Bauchi and so many other States. So it is difficult to quantify the monetary value. The properties are not for sale but they are for leasing. We are to build, operate and bring value to the initiative.”