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From November 1, the new rates for the National Driver’s License and the Vehicle Number Plates approved by the Joint Tax Board (JTB) will be implemented to enhance the seamless production process and improve quality service to the motoring public.
Olusegun Ogungbemide, the Corps Public Education Officer of the Federal Road Safety Corps Headquarters, Abuja, disclosed in a statement that the new prices, as approved by the resolution of JTB show Standard Private number plates are now ₦30,000, Standard Commercial number plates have moved to ₦30,000 and Fancy Vehicle number plates are now ₦400,000.
Motorcycle number plates have gone up to ₦12,000, Articulated vehicle number plates are now N90,000, Dealer number plates are now ₦100,000, Out of Series number plates are ₦150,000, Government Fancy Motor Vehicle number plates ₦120,000, Government Standard Motor Vehicle number plates ₦80,000, Government Fancy Motorcycle number plates ₦50,000 as well as -Government Standard Motorcycle number plates ₦20,000.
In the same vein, the revised rates for the National Drivers License show that a Motor Vehicle Driver’s License (3 years) is now ₦15,000, a Motor Vehicle Driver’s License (5 years) ₦21,000, a Motorcycle/Tricycle Driver’s License (3 years) is ₦7,000 and the Motorcycle/Tricycle Driver’s License (5 years) is now ₦11,000.
The resolution on the reviewed rates, which were said to have been necessitated by the current economic realities that have affected the overall cost of production, was reached at the end of the 155th Joint Tax Board (JTB) Appraisal and Technical Committee Meeting held on September 10, 2024.
The JTB stated that most of the materials used in the production of both number plates and driver’s licenses are sourced outside the country, and the prices of those materials have risen astronomically since the last review conducted in 2021 when the exchange rate was 411.63 naira to 1 dollar.
BADEJO ADEMUYIWA has 23 years experience as a Finance Writer, specialising in Insurance and Investigative Reporting.
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