The Nigeria Postal Service (NIPOST) says it has recorded a revenue increase of N700 million in 2017 and a 40 percent reduction in expenditure due to the implementation of its Strategic Roadmap.

Mr Bisi Adegbuyi, the Postmaster-General of the Federation, NIPOST, made the disclosure at the organisation’s management retreat on Wednesday in Abuja.

NIPOST organised the retreat to evaluate and reposition its management staff on the requirements and skills needed to provide efficient, effective and reliable service with the aid of appropriate technology.

Adegbuyi said the launching of the strategic roadmap captioned “NIPOST Vision 2002’’ has helped the organisation to achieve the increase.

He said the roadmap was hinged on four pillars which were reform and change of management, quality service customer care improvement and innovation modernisation of infrastructure and the diversification.

Adegbuyi said that in accordance with the reform recommendations, the organisation had sought to create a lean headquarters and rather empower the businesses and the zones to become more pragmatic.

“It is in this spirit therefore, that we have been working tirelessly with our private sector partners to develop innovative and game changing products and services that were launched on Oct. 9, 2017 during the World Post Day.

“This includes the lasted version of international postal system, Address Verification System — a software that aids NIPOST to verify addresses, E-money, E-stamp and Youth Engagement Strategy– a programme designed to engage the youths.

“Others are agency banking platform, Partnership with Bank of Agriculture to assist rural farmers to access credit and farm products, e-commerce, post outreach and finally the Postal Mail Box Initiative (PMBI),’’ he said.

Adegbuyi said that one of the products which was the Address Verification System had won an international award.

He said that to improve the quality of products and services, the organisation had extended the outsourcing of mail transportation to the intra-state mail and improved last-mile delivery within Lagos.

According to him, all these made it possible to achieve the revenue increase.

He added that the postal reform bill designed to improve the sector would soon be passed.

The NIPOST boss urged the staff to use the retreat to come up with more ideas that would continue to bring improvement and prosperity to the organisation.

The retreat simultaneously held in all the zones where the organisation is represented.