Pecohub The cost of registering a new car in Nigeria has surged sharply in 2025, with fees now ranging between N115,000 and N140,000, depending on the agent and location.
This represents a significant increase from the N80,000–N105,000 range recorded in 2024, reflecting a broader trend of rising administrative and documentation expenses across the automotive sector.
According to multiple industry sources who spoke with Pecohub, the price hikes stem from a combination of new regulatory charges, higher production costs for licenses and number plates, and widespread informal levies.
“Registering a new car in Nigeria costs between N115,000 and N140,000 today, and it takes between three to five working days to be ready,” a senior staff member at Mutual Benefits Assurance confirmed.
Change of ownership now costs more than a new registration
Processing a change of vehicle ownership has also become more expensive, with costs now ranging between N130,000 and N150,000, up from N90,000–N115,000 in 2024.
The procedure involves multiple steps, such as drafting a sale agreement between buyer and seller, obtaining a police report and court affidavit, conducting a vehicle inspection, and reissuing the proof of ownership certificate and license.
“Change of ownership today now costs N130,000. This is something I used to do for people for N90,000 last year. Some others charge up to N150,000,” the insurance official added.
Breakdown of vehicle registration components
Registering a vehicle in Nigeria involves several mandatory fees and certifications, many of which have been adjusted upward in 2025:
- Number Plate: Officially N30,000, but agents often charge up to N50,000.
- Vehicle Licence: Between N5,000 and N15,000, depending on engine capacity.
- Road Worthiness Certificate: N5,000–N10,000.
- AutoVIN and VIN Check: Mandatory verification of accident history, ownership, and service records.
- Third-Party Insurance: Increased from N5,000 to N15,000.
CEO of Durjokorey Autos, Mr. Kunle Durojaiye, attributed the higher costs to inflationary pressures on documentation and insurance.
“The price has been increasing in the last few years. Look at the third-party insurance we used to do for N5,000—it’s now N15,000. The cost of other documents like the vehicle licence has also gone up,” he explained.
Hidden charges inflate real costs
Although official rates are published by the Joint Tax Board (JTB), the actual cost paid by car owners is often higher due to informal charges and logistical expenses.
