SANWO-OLU ORDERS COMPLIANCE WITH LAGOS STATE MOTOR DEALERS LICENSE LAW 2018
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Lagos State Governor, Mr. Babajide Sanwo-Olu, has instructed the Motor Vehicle Administration Agency (MVAA) to align its fees with the terms of the Lagos State Transport Sector Law of 2018.
The governor’s directive was recently delivered to the MVAA General Manager, Mr. Rasheed Muri-Okunola, in his office. He stated that the Lagos State Transport Sector Law of 2018’s levies will be enforced starting on March 1, 2024.
He revealed that the Lagos State Transport Sector Law 2018 (Schedules 1 and 2 of the Registration and Regulation of the Operations of Motor Vehicle and Motor Spare Parts Dealers Inside the State, Pages 95 and 96) will henceforth be followed by the MVAA fees, as per the Governor’s direction.
According to him, the following fees are mandated under the Transport Law of 2018: Motor vehicle dealers will now pay N150,000 (one hundred and fifty thousand naira only) if they are registered as limited liability businesses. A vehicle dealer operating under an individual or business name will receive N100,000 (one hundred thousand Naira only).
Similarly, N70,000 (seventy thousand naira only) will be the registration price for motor vehicle spare parts dealers established as limited liability companies, and N50,000 (fifty thousand naira only) will be the fee for individual or business names.
Muri-Okunola further disclosed that anyone who fails to make the appropriate payment when the approved fees go into effect on March 1, 2024, will face legal action under Section 208 of the Lagos State Transport Sector Law 2018.
He restated that anyone found guilty, whether or not they are incorporated, faces fines and the possibility of having their place of business closed down or taken by the state government.
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