Global Philately Market Share Hits $50bn

\"\"The Nigeria Postal Service (NIPOST), Mr. Jacob Durosomo, has disclosed that the total worth of stamps collection   and other postal matters globally has now been put at over N7trillion.Philately is the art of collecting stamps and other postal matters either as a hobby or an investment.Durosomo who disclosed this while briefing journalists on Nigeria’s hosting of first All African Exhibition of postage stamps and philatelic products, stated that Africans are yet to fully exploit the opportunities provide by the philately to improve socio-economic wellbeing.“The global market share of philately is N50billion but in Africa we are still Lilliputian not being able to explore the benefits of dealership and distribution of postage stamps,” Durosomo said.Additionally, Public Relations Manager Affairs at NIPOST, Mrs. Charity Ato hinted that philately as practised in most countries of the world does not seem to survive in Nigeria and that this is applicable to most African countries.“It is in recognition of this African situation that the Universal Postal Union (APU) through the Pan African Postal Union decided that something urgent should be done to create adequate awareness and stimulate that interest of the populace in the business of philately.”She said NIPOST had taken various measures over the years to create awareness and promote the business of philately in Nigeria.

One of such measures include the hosting of Phila-Africa exhibition which commences today in Abuja and is expected to provide opportunity for all African postal administration and stamp dealers to showcase the continent’s rich heritage captured in postage stamps.

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