The permanent secretary, Lagos Ministry of Transportation, Abdulhafiz Toriola, has said that the Federal Government is set to make about N12bn annually from the N1,000 Proof of Ownership Certificate (POC) verification fee motorists are to pay.
Toriola stated that the certificate would help vehicle owners and the government assure the integrity of all vehicles registered on the National Vehicle and Identification Scheme database and track car theft and recovery of stolen vehicles. He added that Lagos would begin collection of POC fees from July.
Mixed reactions have since trailed the move by the government, and the Fiscal Policy Partner and Africa Tax Leader at PwC, Taiwo Oyedele, has stated that the tax is retrogressive, ill-conceived, and poorly designed.
