Being a driver or a commercial vehicle owner in Nigeria is not the same, it is now more expensive! This is not just for the high prices of cars and their spare parts due to the increasing disparity between the Naira and the Dollar, but due to a recent upward review of rates for the registration of vehicle plate numbers, driving licenses amongst others.
The above became a reality as the Joint Tax Board, JTB headed by the FIRS boss, Muhammad Nami announced recently the adjustment from the office of the General Manager, Motor Vehicle Administration Agency, MVAA headed by Lape Kilanko.
The New Rates
Cutting to the chase, the Federal Government had announced that from August 1st, 2021, standard private number plates, and commercial number plates amongst others will now go for ₦18,750 as against the previous rate of ₦12, 000.
Also, Drivers’ licenses for three years and five years would cost ₦10,350 and ₦15,450 respectively as against the previous rates of ₦6, 450, and ₦10, 450.
Without much ado, after a letter issued by the Joint Tax Board, dated 30th July 2021, and addressed to Governor Babajide Olusola Sanwo-Olu, the Lagos State Government has accepted these new rates and has committed to implementation.
This development even not to the delight of motorists will herald a ‘new normal’ for drivers and vehicle operators as the JTB wants a nationwide implementation by all State Boards of Internal Revenue to ensure strict adherence to the approved rates for uniformity in the administration of road taxes in Nigeria.