Connect with us

Business

FG Increases Vehicle Number Plate, Driving Licence Rates

Published

on

The Federal Government has increased the rates of vehicle number plates and driving licences by 50%.

The Joint Tax Board made this known in a letter dated July 30, 2021, and signed by the board secretary, Obomeghfe Nana-Aisha.

According to the letter, Nigerians will now pay N18,750 for standard private and commercial number plates against the old rate of N12,500.

While fancy number plate which was N80,000 is now N200,000; motorcycle number plate is N5,000 from N3,000 while articulated number plates (three plates) attract N30,000 from N20,000. For these rates, the minimum increase is 50 percent.

Out of series number plate has also been revised to N50,000 from N40,000 while government fancy number plate is N20,000 against the former N15,000 rate.

Driving licence (three years) was raised to N10,000 from N6,000, excluding bank charges; licence for five years is N15,000 from N10,000 while motorcycle/tricycle driving licence (three years) goes for N5,000 from N3,000 while the one for five years attracts N8,000 from N5,000.

The board, however, directed various federal and state agencies to commence the implementation of the rates.

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.

Advertisement
Comments
Advertisement
Advertisement
Advertisement Web Hosting in Nigeria
Advertisement
Advertisement

Trending