In the face of the challenging security situation and evasion of Customs Duty payment on imported vehicles, the federal government, through the Nigeria Customs Service (NCS), has created a platform for the National Vehicle Registry (VREG).
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Here is what you should know about this platform, according to information released by the Public Relations Unit of Customs:
- The National Vehicle Registry is the centralized database for all vehicles in Nigeria using their unique Vehicle Identification Numbers (VIN).
- This registry stores detailed vehicular information such as specifications, ownership, and history of each vehicle in Nigeria.
On why it was created, the service said the Federal Ministry of Finance, Budget and National Planning created VREG as a solution to the menace of customs duty evasion, vehicle theft, vehicle-related crimes and ineffective vehicle insurance coverage, among others, owing to the absence of a centralised nationwide vehicular information system.
For its workings, all vehicle owners in the country are simply required to register their vehicle using their VIN on the VREG portal.
The VREG, it said, has several benefits for those who embrace it. Some of these are the availability of a robust vehicular information database to better inform fiscal policy formulation and economic planning for the federal government; Nigeria Customs Duty clearance verification, and boosting anti-smuggling efforts of NCS.
It will also help to reduce vehicle-related crimes and theft through improved vehicle information and tracking; improved road and road user safety from enhanced vehicle road-worthiness and traffic regulation compliance.
The service further said the platform will ensure robust and effective vehicle insurance coverage to be sustained by comprehensive vehicular information, and ensure the establishment of a moveable asset registry for Nigerians by virtue of standardized vehicle information stored on the platform.
