The Federal Government of Nigeria has begun the implementation of the new rates for vehicle number plates and driving licence across the country, The Punch reported.
The new rates are as follows:
Standard private and commercial number plates rates were increased by 50% to N18,750 from N12,500.
Fancy number plate rate was increased by 150% to N200,000 from N80,000.
Motorcycle number plate rate was increased by 60% to N5,000 from N3,000.
Out of series number plate rate was increased by 25% to N50,000 from N40,000.
The rate for Government fancy number plate was increased by 30% to N20,000 from N15,000.
The rate for a driving licence with three years validity was increased by 60% to N10,000 from N6,000, excluding bank charges. Whereas the rate for driving licence with five years validity was increased by 50% to N15,000 from N10,000.
Motorcycle/tricycle driving licence with three years validity goes for N5,000 from N3,000 while the one for five years attracts N8,000 from N5,000.
The decision to hike the rates was taken at the 147th meeting of the Joint Tax Board, held in Kaduna on March 25, according to the report.
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The implementation took effect from August 1, 2021, according to a letter by JTB, signed by the board secretary, Obomeghfe Nana-Aisha, to various federal and state agencies.
The letter read, “You may wish to recall that at the 147th meeting of the Joint Tax Board held in Kaduna, Kaduna State on March 25, 2021, the board approved revised rates for the sale of vehicle number plates and driving licence in line with the recommendations of Appraisal and Technical Committee of the JTB.
“In the light of the foregoing, we wish to inform you that the Chairman, JTB, has approved Thursday, August 1, 2021, as the commencement date for the implementation of the new rates.”
In another development, FRSC Corps Public Education Officer, Bisi Kazeem, has said that the FRSC is not a revenue-generating agency while dismissing a report circulating on social media that the agency was behind the rate hike.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
