…As JTB approves rate review
From November 1, 2024, vehicle owners will be expected to pay N21,000 and N15,000, respectively, to obtain a five-year and three-year driver’s licence.
The new rates followed a review recently approved by the Joint Tax Board (JTB).
Also, a revised price to obtain a five-year and three-year driver’s licence for a motorcycle/tricycle will be N11,000 and N7,000 respectively.
However, Olusegun Adesokan, the secretary of JTB, in a circular sighted by BusinessDay, stated that the approval for the increased rates was subject to the ability of the Federal Road Safety Corps to adequately educate and sensitise the public about the increment.
According to Adesokan, “the secretariat has requested that the FRSC notify the JTB of its public engagement and sensitisation plans. This is to enable relevant inputs where necessary, as we are confident that a very robust engagement arrangement will ensure the seamless implementation of the revised rates as approved by the board.”
Also, with the rates review, Nigerians will be expected to pay at least N30,000 for a standard private vehicle number plate and a standard commercial vehicle number plate. Also, a fancy number plate will now cost N400,000 while a motorcycle number plate will cost N12,000. Dealer (motor vehicle) number plate will cost N100,000.
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Similarly, government fancy motor vehicle number plate has been revised to N120,000, government standard number plate to N80,000, the government fancy motorcycle number plate to N50,000 and government standard motorcycle number plates to N20,000.
SOURCE: BUSINESS DAY
