NIPOST generates N3.63m, a boost to non-oil sector revenue performance
By Jeph Ajobaju, Chief Copy Editor
A total N3.63 billion revenue was generated by the Nigerian Postal Service (NIPOS) in 2021, gleaned from “Nigerian Domestic and Foreign Debt Q3 2022” report just released by the National Bureau of Statistics (NBS).
The amount dipped 22.79 per cent compared to that of 2020 but raises the profile of non-oil sector revenue performance in several areas, including exports.
The NBS said EMS/Speed Post generated the highest income of N1.27 billion, representing 35.14 per cent of total revenue.
It was followed by Parcel clearance/delivery fee (N689.12 million or 18.96 per cent) and NIPOST Premises/Space with N299.66 million or 8.25 per cent).
NIPOST handled a total 17,656,768 mails domestically and internationally in 2021, according to the NBS, per reporting by The Nation.
It said about 8,111,461 mails were handled domestically, 45.94 per cent of the total, and 1,040,461 dispatched abroad, representing 5.89 per cent.
The data shows 8,504,846 mails were received from abroad and delivered in Nigeria, 48. 17 per cent of the total mails handled in 2021, the year the number of post offices rose to 2,794.
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Non-oil export generates $2.59b in H1 2022
More than 4.146 million metric tonnes of non-oil products worth $2.593 billion were exported in the first half of the year spanning January to June (H1 2022), according to the Nigerian Export Promotion Council (NEPC).
NEPC Executive Director of NEPC Ezra Yakusak credited the feat to diversification from oil to non-oil sectors for foreign exchange (forex) earnings.
He disclosed in his first half year progress report the revenue was an increase of 62.37 per cent versus $1.59 billion in H1 2021 and above $981.442 million in H1 2020.
His words: “In spite of the global economic recession that affected most businesses in 2021, the sector recorded a significant growth in non-oil export.
“A total of 4,146,534 metric tonnes of product worth $2.593 billion were exported between January and June 2022.
“These figures were culled from the non-oil export performance reports of various pre-shipment inspection agents who are appointed by the Federal Government to determine the volume, value and destination of Nigerian non-oil export.
“The analysis from returns of these pre-shipment inspection agents indicates that the January-June 2022 export performance was the highest half year non-oil export performance since 2018.’’
