The Nigerian Bar Association (NBA) has announced a phased price adjustment for NBA stamps, effective November 1, 2024, and January 1, 2025, to address production and distribution challenges.
According to a statement by General Secretary Dr. Mobolaji Ojibara, the current price of N4,000 per pack of four sheets of stamps is no longer sustainable due to rising production costs. The new prices will be N6,000 per pack from November 1, 2024, and N7,000 per pack from January 1, 2025.
Read the full statement below:
Distinguished Colleagues,
In an effort to urgently resolve the ongoing issues regarding the production and distribution of NBA Stamps, as well as the resultant dissatisfaction among members, the President of the NBA, Mazi Afam Osigwe, SAN, on Monday, the 9th of September 2024, convened an emergency meeting with the Chairmen and Secretaries of NBA branches.
During the meeting, which was also attended by the Managing Director of Strataflex Ltd, the consultants engaged by the NBA for the production of adhesive stamps, President Osigwe provided an in-depth explanation of the reasons behind the delay in the production and distribution of stamps. The delay is essentially attributed to the inability of the consultant to cope with rising production costs.
The current price of Four Thousand Naira per pack of four sheets of stamps, which has been in effect since the contract’s inception in 2015, is no longer sustainable. This has led to substantial costs for both the NBA and the stamp producers. It was revealed that market fluctuations have made the current production model unsustainable. This financial imbalance has severely impacted the producer’s capacity to meet demand, resulting in operational losses and eventually leading to the producer’s decision to suspend production.
To ensure improved efficiency in the production and distribution of stamps, a phased adjustment of the current price has become imminent. Consequently, effective from the 1st of November 2024, a negotiated adjustment will increase the price from Four Thousand Naira per pack of four sheets of stamps to Six Thousand Naira per pack. Additionally, from the 1st of January 2025, members will be required to pay Seven Thousand Naira for a pack of four sheets of stamps to sustain the initiative effectively.
The Mazi Afam Osigwe SAN-led administration remains dedicated to ensuring that every decision is made in the best interest of our members and the profession at large. We believe this adjustment will not only enhance operational efficiency but also support the long-term sustainability of the stamp initiative.
To this end, the NBA President has instructed the stamp producers to immediately commence production, and the Secretariat will also begin the distribution of all outstanding stamps. President Osigwe has given an undertaking that the NBA will bear the extra costs of production, ensuring that all pending stamp applications—both paid and complimentary—under the current pricing will be processed without additional costs to members who have already applied.
In line with our commitment to adopting international best practices in the management of our Secretariat, including full digitization, particularly the immediate introduction of the Digital Stamp—a process graciously kickstarted by the immediate past administration—the NBA President, Mazi Afam Osigwe, SAN, has reaffirmed that there is no going back on the Digital Stamp initiative.
We remain fully committed to rolling out the modalities for the full implementation of the Digital Stamp and ensuring that members can take full advantage of this innovation in the coming days. This will offer our members the opportunity to utilize both digital and adhesive stamps, in line with modern legal practices. The Digital Stamp represents a significant step forward in the NBA’s goal of leveraging technology to improve service delivery and reduce administrative bottlenecks.
While thanking you for your understanding and continued trust in the current leadership of the NBA, I would like to reiterate that the Mazi Afam Osigwe-led Proactive Bar continues to prioritize resolving the challenges facing our members, particularly those surrounding the production and distribution of stamps, with effective solutions that align with our commitment to the professional advancement of all members.
Going forward, all branch Chairmen are hereby requested to send, via email to the Office of the General Secretary, the names of all members of their branches with outstanding stamp applications.
