Facebook Twitter Instagram Pinterest YouTube Tumblr LinkedIn RSS
    • About
    • Advertise
    • Contribute
    • Donate
    • Forum
    • Contact
    Login
    InfoStride NewsInfoStride News
    • Home
    • Business
    • Celebrity
    • Crime
    • Nigeria
    • Politics
    • Sports
    • Technology
    • More
      • COVID-19
      • Editor’s Picks
      • Health
      • Opinions
      • Press Releases
      • World
    Subscribe
    InfoStride NewsInfoStride News
    Home»Business Matters»FG hikes vehicle number plate, driving licence rates by 50%

    FG hikes vehicle number plate, driving licence rates by 50%

    Business Matters By Temitope N.Aug 14, 2021No Comments4 Mins Read
    Facebook Twitter WhatsApp Pinterest LinkedIn Tumblr Email Reddit VKontakte

    The Federal Government has commenced the implementation of new rates for vehicle number plates and driving licence across the country.

    License plate
    License plate

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

    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 per cent.

    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 decision was taken at the 147th meeting of the JTB, which held in Kaduna on March 25.

    A letter by the JTB titled ‘Implementation of the revised rates for vehicles number plates and driver’s licence in Nigeria’, dated July 30, 2021 and signed by the board secretary, Obomeghfe Nana-Aisha, directed various federal and state agencies to commence the implementation of the rates.

    Members of the JTB established by section 86 (1) of the Personal Income Tax Act cap. P8 LFN 2004, include the Chairman of the Federal Inland Revenue Service as the chairman of the board; one member from each state and representatives of the Federal Road Safety Commission; Revenue Mobilisation Allocation and Fiscal Commission; Federal Capital Territory Administration; Federal Ministry of Finance; and Federal Inland Revenue Service.

    See also  OctaFX launches marketing campaign

    THE Federal Government has commenced the implementation of new rates for vehicle number plates and driving licence across the country.

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

    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 per cent.

    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 decision was taken at the 147th meeting of the JTB, which held in Kaduna on March 25.

    A letter by the JTB titled ‘Implementation of the revised rates for vehicles number plates and driver’s licence in Nigeria’, dated July 30, 2021 and signed by the board secretary, Obomeghfe Nana-Aisha, directed various federal and state agencies to commence the implementation of the rates.

    See also  Why the FCC Can't Actually Save Net Neutrality

    Members of the JTB established by section 86 (1) of the Personal Income Tax Act cap. P8 LFN 2004, include the Chairman of the Federal Inland Revenue Service as the chairman of the board; one member from each state and representatives of the Federal Road Safety Commission; Revenue Mobilisation Allocation and Fiscal Commission; Federal Capital Territory Administration; Federal Ministry of Finance; and Federal Inland Revenue Service.

    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.”

    Meanwhile, the FRSC Corps Public Education Officer, Bisi Kazeem, has dismissed a report circulating on social media that the agency was behind the hike, noting that the FRSC was not a revenue generating agency.

    He also described as incorrect the report that the standard number plate was N55, 000.

    Support InfoStride News' Credible Journalism: Only credible journalism can guarantee a fair, accountable and transparent society, including democracy and government. It involves a lot of efforts and money. We need your support. Click here to Donate

    FG License plate
    Share. Facebook Twitter WhatsApp Pinterest Reddit Tumblr VKontakte Email LinkedIn

    Related Posts

    Five Ways To Analyze The Forex Market

    Dec 22, 2022

    Why FG is investigating Mikano, Jubali Brothers, JMG over generator importation

    Dec 15, 2022

    Food Inflation: Average price of tomato rises 30% in one year – NBS

    Oct 28, 2022

    Governors warn that CBN’s proposed loan recovery from FAAC revenue is “suicidal”

    Oct 22, 2022
    Add A Comment

    Leave A Reply Cancel Reply

    Get Social with Us
    • Facebook
    • Twitter 6.5K
    • Pinterest 93
    • Instagram
    • YouTube
    Latest Posts

    UK PM Rishi Sunak sacks Conservative Party chief over tax penalty row

    Jan 30, 2023

    Hold On Tight To Those You Consider The One – Vee

    Jan 30, 2023

    Don’t Expect Any Signings After Gakpo – Klopp

    Jan 30, 2023

    Stop Slapping Money On People’s Face All In The Name Of Spraying – Iyanya

    Jan 30, 2023

    Subscribe to Updates

    Get the latest breaking news straight into your inbox!

    Random News

    Sylva Withdraws Petition Challenging Murray-Bruce’s Election As Senator

    Jul 2, 2015

    #Football: Uruguay’s star striker Luis Suarez unwilling to put his shirt on playing England

    Jun 9, 2014

    Ebonyi State: EFCC’s Futile Misadventure vs Governor Umahi’s Financial Wizardry and Prudence

    Nov 14, 2016

    I Am Not A Criminal, I Have Two Wives – Naira Marley

    May 30, 2019

    InfoStride News delivers the latest breaking news, Nigeria news, world news and top stories on business, celebrity, entertainment, politics, sports, technology and more. Experience the best of in-depth coverage, special reports, football highlights, political opinions, crime watch, celebrity gossips etc.

    GooglePlay Store Button

    Support InfoStride News' Credible Journalism

    Credible journalism involves a lot of efforts and money; and can guarantee a fair, accountable and transparent society, including democracy and government. We need your support to continue offering free access to our loyal readers and visitors like you.

    Click here to Donate

    Facebook Twitter Instagram Pinterest YouTube Tumblr LinkedIn RSS
    • Our Terms
    © 2023 InfoStride News. All Rights Reserved.

    Type above and press Enter to search. Press Esc to cancel.

    Sign In or Register

    Welcome Back!

    Login to your account below.

    Continue with Facebook
    Continue with Google
    Continue with Twitter
    Lost password?