Nigeria Courier Business Worth N3 Trillion

Courier business in Nigeria is now worth N3 trillion underscoring the industry’s phenomenal growth in investments, service offering and turnover, according to information available to Nigeria CommunicationsWeek.
Analysts had earlier estimated the total investments in the bourgeoning express business at about N100 billion but Dr. Simon Emeje, head, Courier Regulatory Department, the man who is in position to know has revealed that this figure is a far cry from what the current trends in the business portend.
Even with the latest development, Emeje said that only 20 per cent of the potentials available in the courier business have been tapped unlike in the United States of America where the postal business forms major income earner for the U.S government and Japan where about 80 per cent of the economy is resting on the postal organizations. 
Japan Post is world acclaimed largest financial institution with $3 trillion worth in assets portraying the fact that postal service is money spinner in advanced economies.
But Emeje, said that N3trillion worth in assets of private courier business activities in the country is a modest estimate considering the flurry of activities that go on in the sector in recent time.
He described the post as a big business in the world and said that industrialized countries are aware of the importance of the post both for national development and as a revenue source for the country and that we can earn more revenue from the postal sector if we explore the sector very well.
Nigeria CommunicationsWeek gathered that the courier sector has innovated and expanded into other complex facets such as logistics, warehousing, mailroom management, consultancy services, haulage, and international transactions among others and each product is capable of generating millions of naira as income.
The telecommunications sub-sector which is the toast of the economy and most Nigerians, Emeje argued only stands on one product which is telephone (as it value added services) unlike the postal sector which showcases a lot of products.
.Nigerian Postal Service (Nipost) with its branches scattered in 1500 cities and villages of this country in addition to promoting universal service has the capacity to make profit like its counterparts elsewhere in the world.
 Its postal order, money order, draft, post box, private mail bag, postage stamps and other services it handles attract several millions of naira as revenue.
Its present drive of promoting universal service through a one-stop-shop which it is trying to reach all the local government areas in Nigeria through Information Communication and Technology will further deepen the revenue base of the organization which is presently put at over N3 trillion for  Nipost alone.