In its sustained fiscal drive to boost non-oil revenue and bridge the widening yearly budget deficit, the Federal Government has introduced a new fee of N1,000 to be paid every year by vehicle owners to renew their Proof of Ownership Certificate (POC).
The Permanent Secretary of Ministry of Transportation, Lagos State, Engr AbdulHafiz Toriola, who made this disclosure on Monday at Alausa-Ikeja, Lagos, said the issuance of the POC at the prescribed fee will become effective from July this year in the state,
He clarified: “This certificate upon successful completion of the necessary requirements and procedures, will serve as part of official documentation of a vehicle’s legal owners.”
The Permanent Secretary explained that the POC would be required for all classes of vehicles from motorcycle, to tricycle, to mini vehicles, saloon cars, all classes of trucks, articulated vehicles and such likes that conveys people or products from one point to the other nationwide,.
According to him, the certificate will contain vital information on all vehicles, including licence number plate, model, year of manufacture in addition to owner’s name and address.
Toriola maintained that all states were expected to begin the implementation of the new policy, and each vehicle owner is expected to pay a minimum of N1,000 for the issuance of the POC.
What the fiscal measure implies is that it is now mandatory that all vehicle owners must annually obtain the POC, contrary to what obtained before now when a vehicle owner used to obtain the certificate for a vehicle when being purchased or the engine is being changed for any reason.
