The Federal Government is set to make about N12 billion revenue a year from motorists, who will from this month pay N1, 000 each for Proof of Ownership Certificate (POC) verification fee on their vehicles.
Recall that Lagos Ministry of Transportation Permanent Secretary, AbdulHafiz Toriola, while disclosed the tax generated in June, had said, “To this end, the Federal Government has introduced the issuance of annual Proof of Ownership Certificate for all registered vehicles”.
He explained POC would help vehicle owners and the government ensure the integrity of vehicles registered on the National Vehicle and Identification Scheme (NVIS) database as well as track and recover stolen vehicles.
National Bureau of Statistics (NBS) data shows there were 11.76 million vehicles in Nigeria in the second quarter of 2018 (Q2 2018).
Toriola further said POC will serve as official documentation for a vehicle’s legal ownership, as it “will contain vital information, including the vehicle’s registration details, such as license number plate, model, year of manufacture in addition to the owner’s name and address”.
He explained that “having critically reviewed the challenges encountered in ensuring the promotion of safety and security of lives and property through the issuance of POC nationally and especially in our dear state, the Joint Tax Board, in its communiqué issued at the end of the emergency meeting held on May 9, 2023, adopted, and made a resolution that proof of ownership be issued to motorists on an annual basis nationwide”.
Toriola said Lagos would begin collection of POC tax from 1 July 2023, but other States are yet to make their positions known.
