WELLINGTON - New Zealand Post International has signed a deal to transform the Nigerian Post Office into a commercial and profitable organisation ready for privatisation.
NZPIL and the Nigerian Government had signed a memorandum of understanding and Nigeria's Privatisation Council had appointed the company as its contractor, managing director Drew Stein said.
NZPIL is the international consultancy wing of New Zealand Post. Last year, it won an agreement to prepare the Trinidad and Tobago state postal service for privatisation, and it has a strategic management contract for South African postal services.
Mr Stein said the multi-million dollar project would be larger than the strategic management contract won in 1999 in South Africa.
The value of the contract to manage the South African state postal service has never been disclosed.
The Nigerian postal service was a money-losing government department, and the Nigerian Government had recognised "the urgent need to reform its postal infrastructure," he said.
The contract would cover three phases.
The first would involve forming a limited liability company, restructuring of finance and treasury operations and appointing an independent board, he said.
Then experienced executives from New Zealand and overseas would be hired to make the Nigerian Post Office profitable, Mr Stein said.
The final phase would be preparing the organisation for privatisation by developing and implementing a tender process, and managing that process through to conclusion with the introduction of a private buyer.
- NZPA
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