“Nigeria A Den For Stolen Cars”- Finance Minister

• The Minister said this while delivering a keynote address at the zonal sensitisation seminar on the National Vehicle Registry (VREG) policy in Abuja.

 

Zainab Ahmed the Minister of Finance, Budget, and National Planning has asserted that the bulk of cars imported into Nigeria were stolen. 

The Minister said this while delivering a keynote address at the zonal sensitisation seminar on the National Vehicle Registry (VREG) policy in Abuja.

The Finance Minister was quoted as saying;

”The National Bureau of Statistics confirmed that between 2015 and 2019, Nigeria imported an average of 300,000 vehicles with an average of 48 per cent increase in import annually, while an additional 45 per cent of vehicles are smuggled into the country annually, thus evading duty payment of which 40 per cent of these vehicles are stolen. 

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

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