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LAGRIDE Expands Fleet with 5,000 New Vehicles Through Partnership with CIG Motors

Passengers of Lagos Ride (LAGRIDE), the e-hailing taxi service operated by the Lagos State Government, are set to experience even greater comfort and convenience. Governor Babajide Sanwo-Olu has announced a new joint venture between the State-owned IBILE Holdings Limited and CIG Motors Company Limited to add 5,000 new vehicles to the LAGRIDE fleet, a $260 million investment in Lagos’ economy.

The first phase of this expansion will see the delivery of 2,000 vehicles in the coming weeks, with the remaining vehicles to follow in subsequent phases. Notably, 1,000 of these new vehicles will be electric, underscoring the State Government’s commitment to reducing reliance on fossil fuels and minimizing its carbon footprint.

The LAGRIDE initiative, launched in 2022 with 1,000 brand new cars and mini SUVs, has already provided commuters with improved transportation options. Governor Sanwo-Olu emphasized that this new investment will enhance efficiency and smart mobility within the e-hailing sector. The new vehicles are specifically designed for Lagos’ terrain, featuring low carbon emissions, advanced technology, and energy-efficient capabilities.

“This initiative is part of our vision to modernize public transportation, integrating an urban transit system that offers a sustainable alternative to outdated vehicles,” said Sanwo-Olu. “Our investment arm is executing a successful partnership with CIG Motor Company Limited to acquire 5,000 new GAC vehicles for the LAGRIDE initiative.”

Sanwo-Olu highlighted the benefits of the partnership, which began two years ago with the acquisition of 1,000 vehicles. The expanded fleet will create more jobs and extend e-hailing services across the State. The introduction of electric vehicles is expected to reduce the carbon footprint significantly, marking a step towards sustainable energy.

The partnership also aims to introduce carpooling, chauffeur services, and tech-driven logistics, enhancing the overall public transportation system. The Governor encouraged other private sector players to invest in initiatives that improve mobility in Lagos.

“We anticipate significant improvements in operation, technology, and market reach,” Sanwo-Olu said. “Lagos will uphold international standards with an environmentally sustainable and smart mobility system. This investment will yield cleaner and more efficient transportation for all residents.”

Commissioner for Transportation, Mr. Seun Osiyemi, noted that the deal will help LAGRIDE meet increasing customer demand while boosting fintech support solutions. The initiative is expected to create jobs in driving, maintenance, and administration, thereby boosting the local economy and improving transportation accessibility.

“This investment aligns with the State Government’s THEMES Agenda, promoting a safer, cleaner, faster, and digitally-equipped transportation system,” Osiyemi said.

Managing Director of IBILE Holdings Limited, Mr. Tobi Lawal, added that the partnership will enhance transportation infrastructure, boost tourism, and improve the aesthetics and efficiency of Lagos’ transport system.

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