Poor recovery of stolen vehicles in Nigeria has cost vehicle owners about N1.8 billion between 2013 and 2015, analysis of data on stolen and recovered vehicles has shown.
Data from the National Bureau of Statistics (NBS) show that 2,544 vehicles were stolen between 2013 and 2015, out of which 1,377 were recovered, and this brings the national recovery rate to 54 percent.
This means that the Nigerian institutions involved in the recovery of stolen vehicles have the ability to recover only 5 out of every 10 vehicles stolen in the country. And at an average price of N1.5 million per vehicle, the 1,167 stolen but not recovered vehicles amounted to N1.8 billion in loss to their owners.
Further analysis of the NBS data shows that while the nation’s stolen vehicle recovery capability is 5 out of 10 stolen vehicles, only 14 states were able to achieve better results than the national average.
Ekiti State topped the list while Kebbi State is at the bottom. No data is available on Katsina and Kogi states.
During the period, 77 vehicles were stolen in Ekiti State, out of which 61 have been recovered, meaning that the police command in the state has the capacity to recover 8 out of every 10 stolen vehicles
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