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Official: Comprehensive LASG Motor Vehicle Licensing, Number Plates, Change of Ownership Etc. Rates

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Official: Comprehensive LASG Motor Vehicle Licensing, Number Plates, Change of Ownership Etc. Rates

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I was at the Lagos State licensing office recently hoping to get my new drivers license on the way. While waiting I came across the official list of rates for various motor vehicle registrations such as  number plates, vehicle license, permits, CMR, change of ownership etc. I thought it was a useful information so I took time to type them all out here since all they didn’t have soft copies or even hard copies they could give out.

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LAGOS STATE GOVERNEMENT
MOTOR VEHICLE ADMINISTRATION AGENCY (MVAA)
PUBLIC NOTICE
PRODUCTS AND NEW RATES
A NUMBER PLATES
1 Standard Number Plate N 12,500.00
2 Number Plate Renewal N 10,000.00
3 Articulated Number Plate N 20,000.00
4 Out of Service N 40,000.00
5 Fancy Number Plate (Standard) N 80,000.00
6 Fancy Number Plate (Motor Cycle) N 30,000.00
7 Motorcycle Plate (Ordinary) N 3,000.00
8 Number Plate Replacement (Standard) N 10,000.00
9 Motor Dealer Plate (Special) N 30,000.00
10 Motor Dealers Plate (Ordinary) N 25,000.00
B COST OF VEHICLE REGISTRATION
1 Weighing & Registration Fee
a. Motor Vehicle N 5,000.00
b. Motor Cycle N 1,250.00
C CHANGE OF OWNERSHIP
a. Motor Vehicle N 2,500.00
b. Motor Cycle N 625.00
D CAPITAL GAIN TAX
a. Motor Vehicle N 625.00
b. Motor Cycle N 625.00
E OTHER CHARGES
a. Police CMR N 1,000.00
b. Police Inspection Fee N 500.00
c. Custom Processing Fee N 500.00
F VEHICLE LICENSE
a. Vehicle Below 1.6cc N 1,250.00
b. Vehicle BTW 1.6-2.0cc N 1,875.00
c. Vehicle BTW 2.0-3.0cc N 2,500.00
d. Vehicle Above 3.0cc N 2,125.00
e. Motorcycle Private N 625.00
f. Motorcycle Commercial N 1,250.00
g. Buses
   1 Mini Buses/Pick-Up N 2,500.00
   2 Hiace Buses N 3,125.00
   3 Costal Buses N 3,250.00
h. Tipper & Lorries N 3,750.00
i. Tankers & Trucks/Luxurious Buses N 6,250.00
j. 16 Tyres Trailer N 8,750.00
k. Tractors & Bulldozers N 2,500.00
l. Vehicle Alert N 200.00
G HACKNEY PERMIT CHARGES
VEHICLE TYPE
1 Taxi Cab N 3,525.00
2 Car Hire Services N 3,725.00
3 Kabukabu N 3,925.00
4 Vehicle with Capacity to Carry 1-21 Passengers N 4,475.00
5 Vehicle with Capacity to Carry more than 21 Passengers
but less than 40 Passengers N 5,475.00
6 Vehicle with Capacity to Carry more than 40 Passengers
but less than 50 Passengers N 6,475.00
7 Vehicle with Capacity to Carry more than 50 Passengers
and above N 8,475.00
8 Commercial Vehicles for Goods Above 3 Tons N 3,725.00
9 Commercial Vehicles 3 Tons N 4,725.00
10 Tankers N 6,475.00
11 Tippers N 6,475.00
12 Trailers N 6,475.00
13 Trucks N 6,225.00
14 Interstate N 3,225.00
15 Staff Bus N 3,425.00
16 Okada N 2,000.00
17 Tricycles N 2,000.00
H DRIVERS LICENSE
a. New License N 6,350.00
b. Renewal N 6,350.00
c. Learners Permit N 50.00
d. Riders Card N 800.00
I REGISTRATION OF MOTOR VEHICLE & SPARE PARTS DEALERS
a. Registration of Motor Vehicle Dealers N 100,000.00
b. Registration of Motor Vehicle Spare Parts Dealers N 50,000.00
c. Registration Form (Motor Vehicles) N 5,000.00

 

Patricia

Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

13 Comments

13 Comments

  1. James

    January 13, 2014 at 10:20 am

    Hello Ugometrics,

    Are the aforementioned prices still effective as of today?

    thanks.

    • Ugodre

      January 13, 2014 at 11:39 am

      Yes I believe so. I got it from their offices

      • James

        January 13, 2014 at 7:20 pm

        Alright, thanks for the info

  2. arawunmi olusegun micheal

    January 18, 2015 at 3:28 am

    i want the detail of my vehecle number BDG883 XM also i need infomation on the old plate number XU 60 JJJ

  3. Ganiu Okeowo

    March 15, 2015 at 12:19 am

    How do i verify the name on my plate number like the Police do.

  4. my name is Ngozi

    March 18, 2015 at 10:11 am

    my car was stolen in October last year,I ran into d car on my way back from work a week ago&identified the car.the man I saw in d car said he bought it from a mechanic who had changed the plate number&repainted d car.the new chassis number has a stricking resemblance with mine,I googled Mitsubishi vin website and my chassis number was verified as original, and the chassis number on the autoreg licence of the buyer as indicated as error because it is not up to 17 characters. The police are delaying in d investigation bcos money has changed hands. pls I need to verify the authenticity of the two plate numbers& their chassis numbers.Mine is BT289KTU with chassis number JMBSNE32AJZ507090 and the new buyer number is JMBSRE32ALZ500.

  5. Anonymous

    March 18, 2015 at 10:18 am

    the new buyers plate number is AGL766CV with chassis number JMBSRE32ALZ500 and mine is BT289KTU with chassis number JMBSNE32AJZ507090.pls I want the two numbers verified to ascertain the authenticity of the plate numbers.

  6. Efeffiong

    March 19, 2015 at 12:22 pm

    I want to renew my vehicle particulars with registration number JJJ541AA so i need the cost of doing that

  7. Japhet

    March 19, 2015 at 12:26 pm

    I want to renew my vehicle (JJJ491BF) particulars as such i need the cost

  8. Anonymous

    June 28, 2015 at 10:21 pm

    i wish to refer to ngozi’s case, it is not a case police should play with b’cos these people are always attacking police everywhere as their target, so it is even a clue for them in their various investigations. – Noname

  9. AFOLABI OL-- USEGUN

    March 25, 2016 at 1:25 pm

    WHEN YOU THINK OF ORIGINAL MOTOR INSURANCE CONTACT US at LAW UNION and ROCK INSURANCE PLC OR CALL 08032126627

  10. Anonymous

    March 7, 2018 at 11:11 pm

    renew your car papers such as vehicle license, road worthiness and insurance online and have it delivered within 24 hours You ask where do we renew vehicle license, road worthiness and insurance? You can renew your car papers with us at regexpress.com.ng. How do we do this? Upon order placement for car paper renewal, we call you and renew your papers. once it’s ready. we have it delivered

  11. Anonymous

    March 27, 2018 at 12:00 pm

    are these rates still applicable as at today?

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MSME

What SME’s need other than Intervention loans

Since access to finance is a key constraint to SME growth, funding it has become paramount.

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SME's, Here’s why your business needs a solid value proposition (PART 1)

Small and Medium Enterprises (SMEs) play a major role in most economies, particularly in developing countries. According to the World Bank, they represent about 90% of businesses and more than 50% of employment worldwide. Formal SMEs contribute up to 40% of national income (GDP) in emerging economies and these numbers are significantly higher when informal SMEs are included. The World Bank predicts that “600 million jobs will be needed by 2030 to absorb the growing global workforce, which makes SME development a high priority for many governments around the world.  

Since access to finance is a key constraint to SME growth, funding it has become paramount. This has birthed a myriad of programs ranging from incubators to accelerators both locally and internationally giving out loans, grants, and other resources to ensure that the sector is equipped to create jobs and stimulate the overall economy. There have also been federal grants and other forms of support given to SMEs. Since the outbreak of the Covid-19 pandemic, SMEs have been prioritized as recipients to loans and other stimulus packages. The CBN’s N50 billion Targeted Credit Facility (TCF) geared towards supporting SMEs and households whose economic activities have been disrupted by the COVID-19 pandemic, is just one of the different packages that have been put in place to cater specifically to it.  

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While there is data to back the impact SMEs have on our economy, it is true that even though small businesses help the economy, not all small businesses will contribute to the dream – or even survive past its early years.  According to The Better Africa report, by Weetracker, an African digital media company, the top 5 countries that experienced the highest shutdown rates among start-ups between 2010 and 2018 were Ethiopia at 75%, Rwanda at 75%, Ghana at 73.91%, Zimbabwe at 66.7%, and The Democratic Republic of the Congo (66.7%). Failure rate for start-ups in Nigeria averaged 61% over the same period. What this means is that if small business loans are being given to businesses at random in Nigeria, 61% of those businesses are bound to fail and the monies given, completely lost.  

The small business loans being offered by the CBN is a good step in the right direction. However, determining whether it ends up in the hands of the startups that are viable enough to scale and create the jobs or the larger percentage that will fail, depends to a large extent on how they are selectedIn disbursing the loans, there must be clear methods of choosing the recipients. CBN’s N50 billion Covid-19 intervention fund for SMEs in conjunction with NIRSAL Microfinance Bank, simply noted that it would appraise and conduct due diligence applications before sending them to the applications to the CBN for final approval, to CBN for review. The results will tell their story. 

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Why the economy needs more than loans 

The CBN giving out intervention loans is just one part of finding the solution – and this too does not say much about the amount in loans being given and their effect on the economy at large. If it’s too little to make any real difference, then it might only buy many of these businesses a few more months of dogged survival, after which all will be lost.  

The overall operating environment must be able to stimulate growth either through favourable tax incentives for specific industries, moratorium on other forms of loans, or just the provision of basic infrastructures like electricity and speedy internet services.  

READ ALSO: What Nigerian MSMEs must do to thrive in the new normal

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Another important thing is to ensure there is a ready market for businesses within the country. Even with the right federal loans, a business having no ready market will sink its funds into inefficient marketing. This ready market, however, has a lot to do with the ease of local production to ensure competitive pricing, further curtailing the proliferation of imported items, and more. 

In other words, economy will benefit even more from its overall development. The loans might help but, overall, there is unlikely to be sustainable exponential growth until the things that should be in place to expedite the development process exists. 

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MSME

How Nigerian SMEs can survive high mortality rate

SMEs are a very important economic catalyst in developing and industrialized countries.

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More than 40 SMEs in Lagos shut down due to economic crisis

In Nigeria where unemployment is a serious issue, the local businesses have a special position in the industrial sector because it has created employment and has been able to utilise labour. The local businesses, otherwise known as SMEs which means, Small And Medium Enterprise are everywhere, found on every street and corner as they surround us.

There is however no universal definition of SMEs that is widely accepted as it differs and varies from countries, but this is usually based on employment, assets or combination of the two. Institutions and organizations define SMEs in different ways depending on the purpose and the objective. Take for example, according to Organization for Economic Co-operation and Development OECD (2005) SMEs are considered to be independent firms that employ less than a given number of employees. However, SMEs were classified in terms of size, and financial assets.

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The Small and Medium Industries and Equity Investment Scheme (SMIEIs), defined SME as an enterprise with a 200 million naira maximum asset base, with the exclusion of land and working capital and with a workforce of not less than 10 employees and not more than 300 employees. Akabueze,(2002).

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The Third National Development plan of Nigeria (1975 – 1980) defined a small scale business as a manufacturing firm that employs less than ten people, or whose machinery and cost of equipment does not exceed N600,000
The Federal Government Small Scale Industry Development Plan of 1980 defined a small scale business in Nigeria as any manufacturing process or service industry, with a capital not exceeding N150, 000 in manufacturing and equipment alone.

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These definitions give a clearer explanation as to how the meaning of SMEs differs and varies. However, just to give you a clearer understanding of what local businesses or SMEs mean, they are independently owned organisations that require less capital and less workforce and less or no machinery. They are ideally suited to operate on a small scale to serve a local community and to provide profits to the business owners.

READ MORE: FG to disburse N97.3 billion to tech innovators, agric enterprises

Most enterprises in Nigeria, most of which are in the commercial sector are categorized as small businesses. The role of the small and medium enterprises towards the development of Nigeria is of great importance as it has contributed greatly to the country in terms of growth and development and also in providing employment opportunities.

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From seminars to workshop initiatives for SMEs both locally and internationally, a lot is being said about SMEs all over the World.

According to the Central Bank of Nigeria report (2003), SMEs are a very important economic catalyst in developing and industrialized countries.

According to the United Nations Industrial Development Organization (UNIDO), developing countries can conquer poverty and inequality by democratizing, deregulating, and liberalizing the integration of the global economy. Recent studies have shown that SMEs contribute to over 55% of GDP and over 65% of total employment in high-income countries also that SMEs and informal enterprises account for over 60% of GDP and over 70%of total employment in middle-income countries (OECD, 2004).

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READ ALSO: These Nigerian businesses are being affected by COVID-19

However, considering the term “small”, there’s a whole lot of enormous challenges that come with it. In Nigeria, the factors working against the development and growth of local businesses are quite numerous, some of which include:

1. The issue of funding is a major problem with SMEs in Nigeria. However, the problem is not how to source it but the accessibility to either short or long term loans.

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2. Lack of infrastructural facilities is a serious impediment to the performance of SMEs. The problem of inadequate infrastructural facilities includes electricity, good road network, availability of potable water, and solid waste management. These infrastructures are left to the business owners to provide themselves.

  1. Poor Management and Low Entrepreneurial Skill Base is a serious clog in the survival of small businesses as there is a lack of essential and required expertise in business which leads to wrong and costly decisions and mismanagement.
  2. Entrepreneurs often blame their failures on inadequate sales. However, the problem lies with poor marketing skills that could help promote their sales.
  3. Most entrepreneurs go into business without proper planning by taking a realistic view of what their strengths and weaknesses are, let alone giving careful consideration and analyzing the economic trends or business conditions in that particular sector of activity, which sometimes leads to mishandling when the business starts to expand.
  4. The root of most employee problems in Nigeria is poor personnel management. They put aside personnel matters till crises set in. Such crises usually pose serious threats to the firm’s survival if they are not promptly looked into.
  5. The harsh deteriorating macroeconomic environment in Nigeria has adversely affected the performance of small business enterprises and has posed as a major challenge to their survival and growth. Most small business enterprises are struggling with the problem of uncertainty caused by the unstabilized macroeconomic environment and policy shifts.

With all of this ongoings, some of the solutions preferred to ease these challenges include:

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1. The need for government, and non-governmental organizations to create Seminars and workshops initiatives and other forums, to establish a platform for the interaction of SMEs owners/managers with others which can help to improve on their management capabilities.

2. Government should also provide the necessary infrastructures in order to ease the burdens and thereby encourage and promote rural industrialization.

3. The SME owners/managers should strive to develop effective marketing strategies in order to boost business operations which will become profitable.

4. It is important for SMEs to develop good personnel management policies to avoid crises that could affect their business.

5. Local business owners should take to proper planning, realizing his strengths and weaknesses before diverting into any business to avoid mishandling.

6. Goverments should help create a macroeconomic environment that is stable as it will enable these local businesses to make reasonable forecasts on costs, turnover, and return on investment.

7. The government should help in making funds easily accessible to SME owners/managers, be it short or long term loans that could help to encourage them to execute their business plan.

8. SMEs operators should also develop their competences in managing and sustaining their businesses by constantly engaging in training, research and development.

 

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MSME

130 farmers to receive seed funding of N100,000 each

The target of the programme is to adopt farmers in 774 LGAs across the country.

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The National Information Technology Development Agency has kick-started a job and wealth creation programme where 130 farmers will each receiv, e seed funding of N100,000Border Closure: Nigerian rice farmers are struggling to feed a rice-hungry nation. CBN to give Niger Delta rice farmers single-digit loan 

The National Information Technology Development Agency has kick-started a job and wealth creation programme where 130 farmers will each receive seed funding of N100,000. The programme will be supervised by the Federal Ministry of Communication and Digital Economy.

According to a statement from the agency, the National Adopted Village for Smart Agriculture (NAVSA) programme is in line with the government’s drive to lift 100 million Nigerians out of poverty, and it will start with 130 farmers in Jigawa state.

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The target of the programme is to adopt farmers in 774 LGAs across the country, open the platform to all agriculture ecosystem players with access to information, facilitate and improve productivity, reduce the cost of production, and facilitate access to local and international markets.

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READ MORE: President Buhari directs Ministries of Power, Finance, BPE to seal Siemens deal

With all of this in place, it is expected that the farmers will be able to build sustainable business models and digital business opportunities that will create not less than 6 million well-paying jobs in the next 10 years.

“NAVSA Platform is aimed at digitalising agriculture to drive Digital Economy, as part of President Buhari’s agenda to leverage on technology and innovation to revolutionise the agriculture value chain,” the statement read.

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Among other things, the farmers will be empowered with a digital platform, smart devices (tablets), connectivity for data and calls, Digital agripreneurship skills, and enrolment with telecom operators and the National Identity Management Commission (NIMC) for identification.

All of these will be given to them at the end of the programme, which will last from July 1 to July 13, 2020.

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