The Joint Tax Board (JTB) has approved an upward review of the rates of the National Driver’s Licences and Vehicle Number Plates to enhance the seamless production process and improve quality service to the motoring public.
A statement issued by the Federal Road Safety Corp’s (FRSC’s) Public Education Officer, Assistant Corps Marshal Olusegun Ogungbemide, indicated that the decision to raise the prices of the licences and number plates was reached at the end of the 155th JTB Appraisal and Technical Committee Meeting held on September 10, 2024.
The spokesman stated that reviewed rates were necessitated by the current economic realities, which affected the overall cost of production of the items.
Specifically, he maintained that most of the materials used in the production of both number plates and drivers licence are sourced outside the shores of the country, and the prices of those materials have risen astronomically since the last review conducted by the JTB in 2021 when the exchange rate was 411.63 naira to the US dollar.
The new prices as approved by the resolution of JTB comprised Standard Private number plates N30,000; Standard Commercial number plates N30,000; Fancy Vehicle number plates 400,000; Motorcycle number plates 12,000; Articulated vehicle number plates N90,000; Dealer number plates N100,000; and Out of Series number plates 150,000.
Others are Government Fancy Motor Vehicle number plates N120,000; Government Standard Motor Vehicle number plates N80,000; Government Fancy Motorcycle number plates N50,000, and Government Standard Motorcycle number plates N20,000.
Also, the revised rates for the National Drivers Licence are Motor Vehicle Driver’s License (3 years), N15,000, Motor Vehicle Driver’s License (5 years), N21,000; Motorcycle/Tricycle Driver’s License (3 years), N7,000; and Motorcycle/Tricycle Driver’s License (5 years), N11,000.
The agency enlightened the general public that it is important to note that the cost as stated earlier, would enhance a seamless production process and also improve service delivery to the public.
The new tariffs take effect from 1st November, 2024.
