The Lagos State Government regulations for ride-hailing services such as Bolt and Uber will take effect on August 20.
Companies with less than 1,000 drivers are to pay a N10million license fee, while those with more than 1,000 drivers are to pay N25 million.
Annual renewal for those with more than 1,000 drivers have been fixed for N10million and N5million for those with less.
Also, taxi operators with 50 cabs or less are to pay N5million for a license, while those more than 50 cabs are to pay N10million.
Renewals have been fixed at N1.5million and N3milliom respectively.
All renewals must be processed three months before the expiration of the existing license.
All e-hailing companies’ services must pay to Lagos, a 10 percent service tax on each transaction paid by passengers.
They have been ordered yo hold quarterly meetings with the Ministry of Transportation for operational updates and feedback.
They must give the supervising ministry access to their database
All taxicabs must undergo an inspection in line with the State’s Road Traffic Law.
The vehicles must be brand new or be in use not more than three years.
They must have a completed, signed, and dated safety features compliance form prescribed by the government.
Each taxi cab must be equipped with a taximeter approved by the ministry.