The Joint Tax Board (JTB) has approved new rates for the issuance of national driver’s licenses and vehicle number plates, set to take effect on November 1, 2024. This price adjustment is aimed at enhancing the quality and security features of these identification items in line with international standards.
Under the revised rates, the cost of a three-year motor vehicle driver’s license will increase to N15,000, while a five-year license will now cost N21,000. Motorcycle and tricycle drivers will also see a price hike, with a three-year license costing N7,000 and a five-year option set at N11,000.
Additionally, private and commercial vehicle number plates will now cost a minimum of N30,000. Fancy number plates have been priced at N400,000, while motorcycle number plates will cost N12,000. Dealer motor vehicle number plates will be priced at N100,000.
The government standard number plates for vehicles will cost N80,000, while fancy government number plates will be sold at N120,000. Motorcycle number plates under the government standard will now be priced at N20,000, and fancy government motorcycle number plates will cost N50,000.
Olusegun Adesokan, Secretary of the JTB, emphasized that the price adjustment aims to provide better security features and improve the identification process for both drivers and vehicles.
“The secretariat has requested that the FRSC notify the JTB of its public engagement and sensitization plans. We are confident that a robust engagement arrangement will ensure the seamless implementation of the revised rates as approved by the board,” He added.
