Governor Sanwo-Olu has directed the Motor Vehicle Administration Agency (MVAA) to align its fees with the provisions of the Lagos State Transport Sector Law of 2018.
This directive, conveyed by MVAA’s General Manager, Mr. Rasheed Muri-Okunola, comes into effect from March 1, 2024.
The adjustment in fees impacts Motor Vehicle Dealers and Motor Spare Parts Dealers within the state, with specific amounts outlined in the Transport Law 2018.
Motor Vehicle Dealers registered as limited liability companies will now pay N150,000, while individual and business name vehicle dealers will contribute N100,000.
For Motor Vehicle Spare Parts Dealers, the fees stand at N70,000 for limited liability companies and N50,000 for individuals or business names. These changes aim to streamline and regulate the activities of dealers in alignment with the state’s transport regulations.
Muri-Okunola emphasized that strict adherence to the updated fees is crucial, as defaulters may face legal consequences.
From March 1 onwards, anyone failing to make the correct payment risks prosecution under Section 208 of the Lagos State Transport Sector Law 2018. Convicted individuals or entities may incur fines, and their business premises could be sealed or confiscated by the State Government.
