- Nigeria’s Federal Government has set its sight on a windfall of billions of naira from the newly introduced vehicle tax
- The Federal Government will boost its coffers with the implementation of the annual fee of N1,000 for a Proof of Ownership certificate
- With an approximation of 12 million vehicles in the country, this would potentially result in estimated gross receipts of N12 billion
The Federal Government’s imposition of a N1,000 annual charge for a Proof of Ownership Certificate on all vehicles in the country will generate about N12 billion in revenue.
This is according to calculations of the new fee by the number of vehicles available within the country’s borders, according to data.
