New rates for Vehicle plate number and driving license have begun to be introduced by the Federal Government across the country.
Nigerians will now pay N18,750 for ordinary private and commercial number plates, up from the previous rate of N12,500, according to the Joint Tax Board.
The price of a fancy number plate has increased from N80,000 to N200,000; the price of a motorbike number plate has increased from N3,000 to N5,000; and the price of articulated number plates (three plates) has increased from N20,000 to N30,000. The increase must be at least 50% for these rates.
Out of series number plates have been raised to N50,000 from N40,000, while government fancy number plates have been reduced to N20,000 from N15,000 previously.
Driving licenses (three years) have been raised to N10,000 from N6,000, excluding bank charges; five-year driving licenses have been raised to N15,000 from N10,000; motorcycle/tricycle driving licenses (three years) have been raised to N5,000 from N3,000; and five-year driving licenses have been raised to N8,000 from N5,000.
The decision was made at the JTB’s 147th meeting, which took place in Kaduna on March 25.
The JTB directed various federal and state agencies to begin implementing the revised rates for vehicle number plates and driver’s licenses in Nigeria in a letter titled “Implementation of the revised rates for vehicles number plates and driver’s license in Nigeria” dated July 30, 2021 and signed by the board secretary, Obomeghfe Nana-Aisha.
The Chairman of the Federal Inland Revenue Service, one member from each state, and representatives of the Federal Road Safety Commission, Revenue Mobilisation Allocation and Fiscal Commission, Federal Capital Territory Administration, Federal Ministry of Finance are among the members of the JTB established by section 86 (1) of the Personal Income Tax Act cap. P8 LFN 2004.
“You may recall that at the 147th Joint Tax Board meeting held in Kaduna, Kaduna State on March 25, 2021, the board approved increased prices for the sale of vehicle number plates and driving licenses in compliance with the recommendations of the JTB’s Appraisal and Technical Committee,” the letter said.
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.”
Meanwhile, Bisi Kazeem, the FRSC Corps Public Education Officer, has debunked a social media story that the agency was behind the raise, claiming that the FRSC was not a revenue-generating institution.
He also called the report that the standard number plate was N55, 000 inaccurate.