The cost of registering a new car in Nigeria has surged in 2025, now ranging between ₦115,000 and ₦140,000, up from ₦80,000–₦105,000 last year. Industry experts attribute the spike to new regulatory fees, inflation, and informal charges that have pushed up administrative costs nationwide.
According to auto industry sources, processing a change of vehicle ownership now costs even more, ₦130,000 to ₦150,000, compared to about ₦90,000 in 2024, due to added verification and documentation steps.
A breakdown of the new charges shows steep increases:
- Number Plate: officially ₦30,000, but often up to ₦50,000 via agents.
- Vehicle Licence: ₦5,000–₦15,000 depending on engine capacity.
- Third-Party Insurance: up from ₦5,000 to ₦15,000.
- Road Worthiness Certificate: ₦5,000–₦10,000.
Auto dealer Kunle Durojaiye blamed the surge on rising documentation and insurance costs. “What we did for ₦5,000 before now costs ₦15,000,” he said.
However, hidden costs, such as transport, courier, and facilitation tips, inflate the real amount car owners pay beyond official Joint Tax Board (JTB) rates.
The JTB had in May 2025 approved a new nationwide fee structure, effective June 8, citing the need for enhanced security features in number plates and driver’s licenses.
For many Nigerians, the increases have made car ownership feel out of reach. “Owning a car is now a luxury,” lamented a Lagos car owner, reflecting a sentiment widely shared by motorists across the country.
