Starting November 1, 2024, vehicle owners will need to pay N21,000 for a five-year driver’s license and N15,000 for a three-year driver’s license. The Joint Tax Board (JTB) recently approved these new rates. Additionally, the revised prices for a five-year and three-year driver’s license for a motorcycle/tricycle will be N11,000 and N7,000, respectively.
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In a circular seen by BusinessDay, Olusegun Adesokan, the secretary of JTB, mentioned that the approval for the increased rates is contingent on the Federal Road Safety Corps (FRSC) effectively educating and sensitizing the public about the increment. Adesokan requested that the FRSC inform the JTB of its public engagement and sensitization plans to ensure a smooth implementation of the revised rates.
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With the rate review, Nigerians will need to pay at least N30,000 for a standard private vehicle number plate and a standard commercial vehicle number plate. A fancy number plate will cost N400,000, while a motorcycle number plate will cost N12,000. Additionally, a dealer (motor vehicle) number plate will cost N100,000.
Moreover, 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.
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