The Joint Tax Board has approved an upward review of the rates paid for procurement of the National Drivers Licence and Vehicle Number Plates.
According to the Board, the move was to enhance the seamless production process and improve quality service to the public.
The resolution to increase the rates was taken at the end of the 155th Joint Tax Board (JTB) Appraisal and Technical Committee Meeting held in September this year.
The reviewed rates, the board said, were necessitated by the current economic realities that have affected the overall cost of production.
It said that most of the materials used in the production of both number plates and Drivers licence are sourced outside the country, adding that 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 one dollar.
The new prices as approved by the resolution of JTB are for Standard Private number plates which now go for ₦30,000 while the Standard Commercial number plates also go for ₦30,000.
The fancy Vehicle number plates now cost ₦400,000 while Motorcycle number plates are ₦12,000.
The Articulated vehicle number plates now cost N90,000 as the Dealer number plates are ₦100,000.
The Out of Series number plates go for ₦150,000, as Government Fancy Motor Vehicle number plates are ₦120,000.
The Government Standard Motor Vehicle number plates are ₦80,000, even as the Government Fancy Motorcycle number plates cost ₦50,000.
The government Standard Motorcycle number plates will mow cost ₦20,000.
In the same vein, the revised rates for the National Drivers Licence are Motor Vehicle Driver’s License (3 years)is now ₦15,000, while the motor Vehicle Driver’s License (5 years) now goes for ₦21,000. The Motorcycle/Tricycle Driver’s License (3 years) is now ₦7,000 as the Motorcycle/Tricycle Driver’s License (5 years) now costs ₦11,000.
The Federal Road Safety Corps, which issued the statement said the general public should note that the costs as stated earlier, would enhance a seamless production process and also improve service delivery to the public.
The new tariffs will take effect from November, 1, 2024.