Nigeria plans to centralise its vehicle registration platform under its newly introduced National Vehicle Registry (VREG).
According to the Federal Ministry of Finance, Budget and National Planning, the new VREG is also projected to increase the country’s revenue by five percent.
VREG, it was gathered, would provide more information on the history of any vehicle plying the major cities and roads across the country.
Director of Information, Federal Ministry of Finance, Charlse Nwodo, at the ministry’s zonal seminar in Lagos at the weekend, said the implementation of VREG would boost government’s revenue
The new initiative, findings have shown, would also enable government agencies to track any stolen vehicle any where, he said.
The Finance Ministry, in collaboration with the Nigeria Customs Service (NCS), in April, commenced moves to create a database for imported vehicles to checkmate import duty evasion and theft.
VREG, according to government sources, would provide solution to the menace of Customs duty evasion, vehicle theft and vehicle-related crimes, as well as ineffective vehicle insurance coverage, among others, owing to the absence of a centralised nationwide vehicle information system.
Nwodo said the idea behind the programme is to explain to relevant government agencies on the need to have one window for vehicle registration.
“Today’s event is epoch-making in the sense that it will attract enormous revenue for government it will also help to check the influx of vehicles into the country, especially the stolen ones. If we achieve this, we will be able to track down stolen vehicles.
It will also help government and the individual to have the history of any vehicle plying the country’s roads.
The government will be able to known if a vehicle is an accidented vehicle. VREG will be able to provide these and many other security details of any vehicle,” he said.