…As state commits $260m into the system
Patrons of the Lagos blue taxicab known as Lagos Ride (LAGRIDE) can forward to improved and better services in weeks ahead as the state, on Monday, sealed a fresh deal with CIG Motors for delivery of an additional 5,000 vehicles to boost the fleet.
Governor Babajide Sanwo-Olu signed the joint venture partnership between state-owned corporation, IBILE Holdings Limited, and CIG Motors Company Limited for the brand new vehicles to strengthen LAGRIDE’s operations, an investment worth $260 million to further boost the state economy.
In the coming weeks, the state is expected to take delivery of 2,000 units of the new vehicles in the first phase, with the rest to be delivered in tranches. The new fleet will have 1,000 electric vehicles, a move to reduce dependence on fossil fuels and pruning the carbon footprint.
Recall that the 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.
Sanwo-Olu said this latest investment will further enhance efficiency and elevate smart mobility in the e-hailing sector. The vehicles, he said, would 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modernise public transportation, giving the state an integrated urban transit system as a sustainable alternative to outdated vehicles being used for transportation.
“This is a transportation solution that we are developing to meet all our citizens’ needs to commute safely and comfortably within the metropolis. We are using our investment arm as a vehicle to execute what will become a successful Joint Venture partnership between the Lagos State Government and CIG Motor Company Limited in the acquisition of 5,000 brand new GAC vehicles for the LAGRIDE initiative.
“The partnership with CIG Motors started two years ago with 1,000 brand new cars and we have seen the benefits to our people in terms of job creation and economic empowerment. We are set to enhance the scope and expand the fleet to extend the e-hailing service to other parts of the state. The introduction of electric-powered vehicles into the fleet is to change the narrative. We will begin to see a drop in carbon footprint. This demonstrates our commitment to energy transition towards sustainable energy sources.”
The governor added that the partnership was not only about smart taxi and e-hailing taxi services but also about kicking off car-pooling services, chauffeur services and tech-driven logistics services.
He said the strategic partnership would enhance safety, turnaround time and digitally enabled means of public transportation. He said the relationship with the automobile company had been mutually beneficial, urging other private players in the transportation sector to key into the market and initiate schemes that would enhance mobility in the state.
Diana Chen, managing director of CIG Motor Company Limited, said the partnership has further built confidence and credibility in their business relationship with the Lagos government.
He said the firm has kept all terms of its dealings with the state.
“Whatever we promised, we delivered. We have kept to all terms of our previous agreements with Lagos and we will still honour the term of this new partnership. We are committed to helping Nigeria raise its GDP and economic growth. We will make LAGRIDE a Lagos’ pride,” she said.
