The National Council on Privatisation has approved a reform bill that will strip Nigeria Postal Service (NIPOST) of all its regulatory function.

Briefing state house correspondents after the council meeting presided over by Vice President Namadi Sambo, the Minister of Communications Technology, Omotola Johnson said that the key factor in the bill is that NIPOST should concentrate on its operational functions in the transformation agenda and help to contribute to the gross domestic product.

Also the national council on privatisation also declared that all the power plants in the country now have core investors.

The latest sale is the Egbin Power Plant which has been sold to a Korean company called Capeco at the cost of $407.3 million.