FG Begins Pilot Phase Of National Vehicle Registry Project

*Says 40% Of Vehicles Imported Into Nigeria Are
Stolen

Minister of Finance, Budget and National Planning, Zainab Ahmed,
says the Federal Government has commenced the pilot phase of the
National Vehicle Registry project.

Ahmed said this on Thursday in Abuja at a sensitisation seminar
on understanding the process of VREG, adding that the pilot phase
commenced at the Nigeria Customs Service Kirikiri Light
Terminal.

She said that the registry was powered by interconnected
interactions of key agencies, parties and stakeholders whose
channels facilitate its robust functionalities.

According to her, the stakeholder relationships that will
facilitate the achievement of the goals of the registry include
Federal Road Safety Corps (FRSC) and State Revenue Systems’
integration with VREG.

This would be for information interchange on nationwide vehicle
registration, ownership, history and for proper road traffic
regulation and violation enforcement.

“Providing the NCS with guidance in all clearing, duties,
registration and redistribution of vehicles, targeted at ensuring
that all vehicles are trackable, taxable and generate more
revenues.

“The integration of the National Insurance Commission (NAICOM)
onto VREG for aggregation and regularisation of vehicle insurance
across the country.

“Communication between Central Bank of Nigeria’s (CBN) moveable
asset registry and VREG to provide dynamic records of vehicular
assets, thus boosting lend ability to Nigerians.”

Ahmed said that the Nigeria Police Force and security agencies
such as the Office of the National Security Adviser would be
integrated to facilitate robust nationwide vehicular tracking,
comprehensive theft and other vehicle-related crimes reporting.

Delivering a keynote address at the zonal sensitization seminar
on the National Vehicle Registry (VREG) policy in Abuja, Ahmed said
“National Bureau of Statistics confirmed that between 2015 and
2019, Nigeria imported an average of 300,000 vehicles with an
average of 48 percent increase in import annually while an
additional 45 percent of vehicles are smuggled into the country
annually, thus evading duty payment of which 40 per cent of these
vehicles are stolen vehicles.

“A case study also revealed that between October 2018 and
September 2019, the country recorded over N1.8 trillion value of
used vehicle importation.

“It was further revealed that Nigeria was the hub of stolen
vehicles as Vehicle Identification Number (VIM) of vehicles in the
country were usually unregistered, consequently, vehicles within
the shores of Nigeria cannot be traced.”

Ahmed said that to address these challenges and in line with the
Strategic Revenue Growth Initiative of the federal government, the
ministry conceived and introduced VREG Automated Gateway Portal to
leverage on technology infrastructure.

This was with an objective to maximise revenue generation for
the country and enhance national security such as curtailing
kidnapping, utilisation of vehicles in crime perpetration and
terrorism.

According to her, the project will 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
registration.

She added that it would ensure the enforcement of penalties
placed on vehicles by regulators across board, ensure accurate
monitoring, documentation and tracking of vehicular activities
across the nation.

In his address, Mr Aliyu Ahmed, Permanent Sectretary at the
ministry, said the platform had the potential to increase revenue
generation, plug leakages, revitalise the economy, improve access
to credit and enhance economic planning.

“VREG portal would improve road user safety, enhance vehicle
road worthiness and improve traffic regulation enforcement.

“These communication and connection channels will facilitate
robust functionalities by ensuring thorough remittance of duties by
making it nearly impossible to evade duty payment on vehicles.

“It will provide users, insurance firms and third parties with
car facts and history of vehicles, thus creating a disincentive by
ensuring that stolen, accident wrecked and other unsafe vehicles
are no longer brought into the Nigerian market.

“It will provide a central system for tracking all vehicles
coming into Nigeria independent of point of entry.”

The News Agency of Nigeria (NAN), reports that VREG is a
national repository of vehicular data that seeks to provide a
singular platform through which all relevant agencies,
organisations and individuals shall reference vehicular data
through their unique VIN.

*Says 40% Of Vehicles Imported Into Nigeria Are
Stolen

Minister of Finance, Budget and National Planning, Zainab Ahmed,
says the Federal Government has commenced the pilot phase of the
National Vehicle Registry project.

Ahmed said this on Thursday in Abuja at a sensitisation seminar
on understanding the process of VREG, adding that the pilot phase
commenced at the Nigeria Customs Service Kirikiri Light
Terminal.

She said that the registry was powered by interconnected
interactions of key agencies, parties and stakeholders whose
channels facilitate its robust functionalities.

According to her, the stakeholder relationships that will
facilitate the achievement of the goals of the registry include
Federal Road Safety Corps (FRSC) and State Revenue Systems’
integration with VREG.

This would be for information interchange on nationwide vehicle
registration, ownership, history and for proper road traffic
regulation and violation enforcement.

“Providing the NCS with guidance in all clearing, duties,
registration and redistribution of vehicles, targeted at ensuring
that all vehicles are trackable, taxable and generate more
revenues.

“The integration of the National Insurance Commission (NAICOM)
onto VREG for aggregation and regularisation of vehicle insurance
across the country.

“Communication between Central Bank of Nigeria’s (CBN) moveable
asset registry and VREG to provide dynamic records of vehicular
assets, thus boosting lend ability to Nigerians.”

Ahmed said that the Nigeria Police Force and security agencies
such as the Office of the National Security Adviser would be
integrated to facilitate robust nationwide vehicular tracking,
comprehensive theft and other vehicle-related crimes reporting.

Delivering a keynote address at the zonal sensitization seminar
on the National Vehicle Registry (VREG) policy in Abuja, Ahmed said
“National Bureau of Statistics confirmed that between 2015 and
2019, Nigeria imported an average of 300,000 vehicles with an
average of 48 percent increase in import annually while an
additional 45 percent of vehicles are smuggled into the country
annually, thus evading duty payment of which 40 per cent of these
vehicles are stolen vehicles.

“A case study also revealed that between October 2018 and
September 2019, the country recorded over N1.8 trillion value of
used vehicle importation.

“It was further revealed that Nigeria was the hub of stolen
vehicles as Vehicle Identification Number (VIM) of vehicles in the
country were usually unregistered, consequently, vehicles within
the shores of Nigeria cannot be traced.”

Ahmed said that to address these challenges and in line with the
Strategic Revenue Growth Initiative of the federal government, the
ministry conceived and introduced VREG Automated Gateway Portal to
leverage on technology infrastructure.

This was with an objective to maximise revenue generation for
the country and enhance national security such as curtailing
kidnapping, utilisation of vehicles in crime perpetration and
terrorism.

According to her, the project will 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
registration.

She added that it would ensure the enforcement of penalties
placed on vehicles by regulators across board, ensure accurate
monitoring, documentation and tracking of vehicular activities
across the nation.

In his address, Mr Aliyu Ahmed, Permanent Sectretary at the
ministry, said the platform had the potential to increase revenue
generation, plug leakages, revitalise the economy, improve access
to credit and enhance economic planning.

“VREG portal would improve road user safety, enhance vehicle
road worthiness and improve traffic regulation enforcement.

“These communication and connection channels will facilitate
robust functionalities by ensuring thorough remittance of duties by
making it nearly impossible to evade duty payment on vehicles.

“It will provide users, insurance firms and third parties with
car facts and history of vehicles, thus creating a disincentive by
ensuring that stolen, accident wrecked and other unsafe vehicles
are no longer brought into the Nigerian market.

“It will provide a central system for tracking all vehicles
coming into Nigeria independent of point of entry.”

The News Agency of Nigeria (NAN), reports that VREG is a
national repository of vehicular data that seeks to provide a
singular platform through which all relevant agencies,
organisations and individuals shall reference vehicular data
through their unique VIN.