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NIPOST @ Lagos Trade Fair, Restates Commitment to SMEs’ Growth
Nigerian Postal Service (NIPOST) has restated its commitment in advancing the growth of Small and Medium Enterprises (SMEs) in the country through its robust e-Commerce delivery system, designed to boost the Nigerian economy.
Dr. Ismail Adedayo Adewusi, postmaster general of NIPOST, who restated the commitment during NIPOST’s Special Day at the just concluded 2020 Lagos International Trade Fair, said NIPOST would continue to leverage technologies to diversify and enhance her services in the different areas of its operations, including the e-Commerce space.
The Postmaster General who was represented by Mr. Olakunle Oladapo, general manager, NIPOST e-Commerce and Logistics, commended the Lagos Chamber of Commerce and Industry (LCCI) for giving NIPOST the opportunity to create greater awareness among its teeming customers and stakeholders on the importance of postal service and how NIPOST has been repositioned to enhance customer service delivery.
He explained that NIPOST developed markets to move the economy forward in line with the best practice worldwide, adding that small businesses are taking advantage of NIPOST’s competitive rates to deliver goods to customers, as its e-Commerce and e-Logistics ventures are taking the centre stage in business networking.
Mrs. Toki Mabogunje, president of LCCI, in her welcome address, stated that the aim of LCCI was to connect businesses and create value between manufacturers, customers, major sector companies and consumers by promoting their products and services at the annual Trade Fair.
Presenting a paper on, ‘The Role and Involvement of NIPOST in Advancing the Growth of SMEs,’ Oladapo, said: “Technology has revolutionised the way companies conduct business and the Nigerian Postal Service without exception, has stepped up to embrace its disruptive influence. NIPOST has further diversified and embedded its services in the seven Commercial Business Units (CBUs) to meet the ever demanding needs of our customers.”
Speaking about the strategies for advancing SMEs, Oladapo said NIPOST developed an electronic platform as a marketplace with focus on Micro, Small and Medium Enterprises (MSMEs) in promoting local content initiative; Improved its last mile delivery system; Developed a processing system to integrate with online marketplaces for last mile and post office pick-up deliveries; Developed line haul services for e-Commerce companies, while currently working with the Universal Postal Union (UPU) to actualise the Operational Readiness for E-commerce (ORE) program to enhance e-Commerce business.
“Though NIPOST a new entrant in the technology savvy and dynamic industry, It is believed that with our wide global network, government support and committed workforce, the post will rise to the occasion to advance SMEs and MSMEs and as well position its Commercial Business Units among the major competitors in the industry in no distant time,” Oladapo said.
Adedapo Segun, chief financial officer (CFO), Nigerian National Petroleum Company Limited (NNPC), has explained why there is a missing sum of N210 trillion in the company’s audited financial statement spanning from 2017 to 2023.
According to Segun, the missing funds are cash calls requested by joint venture (JV) partners and settlement to the JVs.
He spokeat a session of the Senate Committee on Public Accounts chaired by Aliyu Wadada.
Segun was responding to an alarm raised by the committee over missing N210 trillion in NNPCL’s audited financial statement.
Recall that Wadada issued a one-week ultimatum to NNPCL to account for the missing N210 trillion.
Reacting, Segun said, “The N103 trillion and N107 trillion are made up of joint venture cash calls that have been requested by the JV operators and JV cash call payments made by NNPCL, which are yet to be reconciled because governance procedures were not done at that time.
“That is why you see the description reflecting those two items would be washed out because they are two sides of the same transaction, which is the cash calls by JV partners and the settlement by NNPCL.”
However, Habu Sadeik, a financial analyst, in a post on X on Thursday, said Segun’s response was unsatisfactory.
Saidik faulted NNPCL’s response about the fund discrepancies, noting that something is not right with the audited financial statement.
“Forget about the senators’ lack of knowledge.
“The CFO’s response is not satisfactory. Are you saying that cash calls worth hundreds of trillions are just appearing on your FS only in 2024 without 31 disclosure?
“If it’s a cash call, why hasn’t the disclosure said so?
“Which cash call is over 100 trillion?
“Something is definitely not right, and I hope they retrospectively correct that FS.
“Someone somewhere did a chef’s work,” he wrote on X.
PalmPay, Nigeria’s leading fintech company, has partnered with Globacom to launch the second edition of the “Recharge and Win Bonanza” campaign. The promotion, which runs from June 19th to August 8th, 2025, offers Nigerians the chance to win amazing prizes when they purchase Glo airtime and data via the PalmPay app.
According to a joint statement by PalmPay and Globacom, “A weekly live raffle draw will be held and streamed on PalmPay’s official social media channels throughout the campaign. Customers who make Glo transactions through the PalmPay app will be eligible to win prizes, including the iPhone 15 Pro, Infinix Hot 40, and other exciting items”.
To participate, interested customers can log onto http://bit.ly/PalmPaySms .
The statement added that all transaction above N500 gives participants an extra shot at winning, adding that daily social media challenges will also offer participants a chance to win cash prizes.
Additionally, PalmPay users can enjoy up to 6% cashback when they buy Glo airtime and data through the PalmPay app. As an added bonus, customers who have not subscribed to a Glo data plan in the last 90 days will receive a 100% bonus on their recharge during the campaign period.
Wayne Ruppel, Head of Billers at PalmPay Limited expressed excitement about the partnership, stating that, “This collaboration is a major step in our mission to deliver MORE – more support, more rewards, and more innovation to our customers.
Partnering with Glo, a leader in the telecommunications sector, is a testament to our shared commitment to improving everyday experiences for all Nigerians. We are excited to reward our users and encourage everyone to take full advantage of this exciting opportunity.
Globacom also expressed delight at creating additional value for its subscribers through unique customer-appreciation schemes.
“Our partnership with PalmPay on the “Recharge and Win Bonanza perfectly underscores our commitment to delivering exceptional value and experiences. Over the years, we have always sought innovative ways to enrich the lives of our customers. We, therefore, enjoin our subscribers to utilize the opportunity provided by the bonanza and enjoy the many benefits it offers”, the company stated.
PalmPay and Glo will collaborate throughout the campaign period to deliver exceptional customer experience, reward loyalty, and reinforce their shared mission to make digital transactions more accessible, rewarding, and secure for millions of Nigerians.
News
UK Reaffirms 99% Duty-Free Access for Nigerian Exports Under Developing Countries Trading Scheme
United Kingdom has reiterated its long-term commitment to strengthening economic ties with Nigeria, confirming that 99% of Nigerian goods will continue to enjoy duty-free access to the UK market under the Developing Countries Trading Scheme (DCTS).
Dr. Richard Montgomery, British High Commissioner to Nigeria
The announcement reinforces the UK’s intention to bolster sustainable trade with Nigeria, boost export competitiveness, and promote inclusive economic growth across both nations. Introduced in June 2023, the DCTS is designed to reduce tariffs and simplify export rules for developing economies. It currently benefits 37 African countries, with Nigeria being a key player.
Nigerian exporters are set to gain substantial advantages from the scheme, which allows over 3,000 products—ranging from cocoa, plantain, and shrimp to processed items like cocoa paste, palm oil, and cotton garments—to enter the UK duty-free or with reduced tariffs. This shift supports value addition in Nigeria’s export ecosystem, encouraging the move from raw to processed exports.
British High Commissioner to Nigeria, Dr. Richard Montgomery, said: > “Nigeria stands at the heart of the UK’s global trade ambitions. This isn’t just about improved market access—it’s about building a fairer, freer global trading system that supports economic growth and job creation, both in developing countries and in the UK.”
He further noted that through the UK-Nigeria Enhanced Trade and Investment Partnership (ETIP), the UK continues to work closely with the Federal Ministry of Industry, Trade and Investment (FMITI) to tackle export challenges and maximise opportunities under the scheme.
The DCTS aligns with broader UK efforts to expand trade relations across the globe, complementing recent agreements with nations such as India and the United States.
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