40% of imported vehicles in Buhari’s first five years were smuggled, says Finance Minister
The Minister of Finance, Budget and National Planning, Zainab Shamsuna-Ahmed, says 40 per cent of the 400,000 vehicles imported into Nigeria between 2015 and 2020 were smuggled into the country.
Ms Shansuna-Ahmed made the disclosure at a one-day sensitisation introducing the National Vehicle Registry (VREG) on Tuesday in Kano. She was represented by the ministry’s Director of Technical Services, Fatima Hayatu.
Citing data from the National Bureau of Statistics, the minister said, “between 2015 and 2020, Nigeria imported an average of 400,000 vehicles. An additional 40 per cent of the vehicles are 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.”
Introduced as a countermeasure, VREG provides relevant agencies a central database to reference vehicular data and ascertain ownership. The system ensures accurate monitoring, documentation and tracking of vehicles across the country.
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