From August 20, Online car-hailing business (Uber, Bolt) must pay Lagos state NGN 10 million for every 1,000 cars. The annual renewal fee is NGN 5 million. 10% of EVERY transaction paid by every passenger will be collected by Lagos State. Uber&Bolt going the way of ORide.
Companies must give Lagos state access to customer’s data and their entire database. Price would increase because the companies will push the 10% service tax, to customers. In addition that the companies must still pay company income tax.
By the be new guidelines, all cars must be brand new, if not brand new, within the 1st 3 years of manufacture and equipped with taximeter approved by Ministry. So many cars won’t qualify anymore and many people would become jobless.