By Nneka Nwogwugwu
In a bid to control smuggling activities, the Minister of Finance, Budget and National Planning, Dr. Zainab Ahmed has announced the launch of the National Vehicle Registry (VREG).
The system is a national repository of vehicular information that seeks to provide a singular platform through which all relevant agencies shall reference vehicular data with a view of ascertaining ownership and value information.
It captures vehicular exchanges and utilizing the Vehicle Identification Number, VIN of all vehicles in Nigeria.
Ahmed made this known while declaring open a one day zonal sensitization programme on the system in Kano on Wednesday.
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The Minister represented by the Director, Technical Services, Hajia Fatima Hayatu said Nigeria has been a hub of stolen vehicles as most Vehicle Identification Number (VIN) in the country were unregistered rendering the vehicles difficult to trace hence the need to introduce the system.
According to her, “The National Bureau of Statistics confirmed that between 2015 and 2020, Nigeria imported an average of 400,000 vehicles with an average of 8% increase in import annually. While an additional 40% of vehicles are smuggled into the country annually, thus evading duty payment of which 22% of these vehicles are stolen vehicles.
“in a bid to address these challenges, the Federal Ministry of Finance, Budget and National Planning launched the National Vehicle Registry, VREG, which is a national repository of vehicular information that seeks to provide a singular platform through which all relevant agencies shall reference vehicular data with a view of ascertaining ownership and value information, capturing vehicular exchanges and utilizing the Vehicle Identification Number, VIN of all vehicles in Nigeria.
“VREG system will among others serve as a single source of validation at the point of vehicle registration while capturing and storing all vehicular information over the life cycle of every vehicle for the purpose of effective motor vehicle administration, ensuring the enforcement of penalties placed on vehicles by regulators across board and sensuring accurate monitoring, documentation and tracking of vehicular activities across the nation to enhance national security,” Ahmed said.
In his remarks, the Acting Controller in charge of Zone B, Nigeria Customs Service, Uba Mohammed, said the system would assist in curbing insecurity and enhance revenue generation especially on vehicles, Vanguard reports.
