Lagos, CIG Motors Sign Joint Venture Deal To Roll Out 5,000 New Smart Taxis

 

 

• New LAGRIDE operations to include car pooling, logistics services 

 

The comfort and convenience passengers derived riding in Lagos Ride (LAGRIDE) — an e-hailing taxi scheme operated by the Lagos State Government — is about to get better with the making of a new investment into the transport initiative.

 

Governor Babajide Sanwo-Olu, on Monday, supervised the signing of another Joint Venture partnership between a State-owned corporation, IBILE Holdings Limited, and CIG Motors Company Limited for the acquisition of 5,000 brand new vehicles to the fleet of LAGRIDE, bolstering Lagos economy with $260 million investment.

 

In the coming weeks, the State is expected to take delivery of 2,000 units of the new vehicles in the first phase; the rest are to be delivered in tranches. The new fleet will have 1,000 electric vehicles, demonstrating the commitment of the State Government to reducing dependence on fossil fuels and pruning the carbon footprint.

 

Lagos Government, in 2022, launched its first LAGRIDE initiative with 1,000 brand new cars and mini SUVs, giving commuters better transportation options and riding convenience.

 

The new investment deal, Sanwo-Olu said, will further enhance efficiency and elevate smart mobility in the e-hailing sector. The vehicles, he said, will be tailor-made for Lagos terrain to operate on low carbon emissions, improved technological interaction and energy transition.

 

The Governor said the initiative was part of his administration’s vision to transform and modernise public transportation, giving the State an integrated urban transit system as a sustainable alternative to outdated vehicles being used for transportation.