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Nigeria Imported 400,000 Vehicles In Five Years -FG

The Federal government says Nigeria imported over 400,000 vehicles between 2015 and 2020.
The government also said 40 per cent of the vehicles were smuggled into the country annually.
Minister of Finance, Budget and National Planning, Zainab Ahmed, revealed this at a one-day sensitisation on the National Vehicle Registry (VREG) in Kano, at the weekend.
Represented by Director, Technical Services in the Ministry, Fatima Hayatu, Ahmed said the National Bureau of Statistics (NBS) confirmed that between 2015 and 2020, Nigeria imported an average of 400,000 vehicles, adding that an additional 40 per cent of the vehicles were smuggled into the country annually.
“A case study revealed that Nigeria was the hub of stolen vehicles, as Vehicle Identification Number (VIN) of vehicles in the country were usually unregistered. Consequently, vehicles within the shores of Nigeria cannot be traced”, she said.
She said the ministry would introduce the Nationalist Nationals Vehicle Registry (VREG) to address these challenges.
The system, Ahmed said, would provide a singular platform through which all relevant agencies would reference vehicular data with a view to ascertaining ownership and value information.
The minister said the system would also assist to ensure accurate monitoring, documentation and tracking of vehicular activities across the country as well as enhance national security.
Also speaking, Assistant Comptroller General in charge of Zone B, Nigeria Customs Service, Uba Muhammad, said the initiative would ensure the security of lives and property.