Minister of finance, budget and national planning, Zainab Ahmed has disclosed Nigeria imported not less than 400,000 vehicles in the last five years.
The Minister made this known during a sensitisation programme on the national vehicle registry (VREG) platform in Kano on Tuesday.
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She said the VREG which was created by the ministry of finance, budget and national planning in collaboration with the Nigeria Customs Service (NSC) in April 2020 will curb car theft and import duty evasion.
Ahmed, represented by director of technical services in the ministry of finance, Fatima Hayatu said: “The NBS confirmed that between 2015 and 2020, Nigeria imported an average of 400,000 vehicles,”
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“An additional 40 percent 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.”
