The Lagos State Government has entered a Joint Venture agreement with CIG Motors Company Limited to deploy 5,000 new smart taxis under the LAGRIDE e-hailing scheme in a major step towards modernising the state’s public transportation.
This $260 million investment is set to transform the transport landscape of Lagos, Governor Babajide Sanwo-Olu announced yesterday.
The agreement, supervised by Governor Sanwo-Olu, involves IBILE Holdings Limited, a State-owned corporation, partnering with CIG Motors to add brand-new vehicles to the LAGRIDE fleet.
Initially, 2,000 vehicles will be delivered, with the remainder arriving in phases. Among these, 1,000 will be electric vehicles, underscoring Lagos’ commitment to reducing fossil fuel dependence and lowering its carbon footprint.
“This investment deal will further enhance efficiency and elevate smart mobility in the e-hailing sector.
“These vehicles will be tailor-made for Lagos terrain, operating on low carbon emissions, with improved technological interaction and energy transition,” said Sanwo-Olu.
The LAGRIDE initiative, launched in 2022 with 1,000 new cars and mini SUVs, has provided commuters with better transportation options. The latest investment aims to build on this success, extending services and improving the overall quality of public transit in Lagos.
Governor Sanwo-Olu emphasised that the new fleet would be a significant step towards achieving an integrated urban transit system, offering a sustainable alternative to outdated vehicles.
“This is a transportation solution that we are developing to meet all our citizens’ needs to commute safely and comfortably within the metropolis,” he said.
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Sanwo-Olu also highlighted the broader impact of the partnership, which includes carpooling, chauffeur services, and tech-driven logistics services. He urged other private players in the transportation sector to initiate similar schemes to enhance mobility in Lagos.
“We will be seeing improvements in operation, advancements in technology, and a significant reduction in carbon footprint.
This demonstrates our commitment to energy transition towards sustainable energy sources.” Sanwo-Olu noted
Commissioner for Transportation, Seun Osiyemi, stated that the deal would help LAGRIDE meet the increasing demand and improve customer satisfaction while boosting fintech support solutions.
He added that the initiative would create jobs and bolster the local economy by enhancing transportation accessibility.
“This is an investment in modern and sustainable transport solutions, in furtherance of the State Government’s efforts to actualize a safer, cleaner, faster, and digitally equipped transportation system under the THEMES Agenda,” Osiyemi said.
The Managing Director of IBILE Holdings Limited, Tobi Lawal, highlighted the benefits of the collaboration, including enhanced transportation infrastructure and boosted tourism, which will improve the State’s aesthetics and efficiency.
Also, the Managing Director of CIG Motor Company Limited, Chief Diana Chen, affirmed its commitment to its partnership with Lagos State.
“Whatever we promised, we delivered. We are committed to helping Nigeria raise its GDP and economic growth. We will make LAGRIDE a Lagos’ pride,” she stated. Lagos, auto firm sign pact 5,000 ‘Smart Taxis’ rollout
By Ibrahim Adam
The Lagos State Government has entered a Joint Venture agreement with CIG Motors Company Limited to deploy 5,000 new smart taxis under the LAGRIDE e-hailing scheme in a major step towards modernising the state’s public transportation.
This $260 million investment is set to transform the transport landscape of Lagos, Governor Babajide Sanwo-Olu announced yesterday.
The agreement, supervised by Governor Sanwo-Olu, involves IBILE Holdings Limited, a State-owned corporation, partnering with CIG Motors to add brand-new vehicles to the LAGRIDE fleet.
Initially, 2,000 vehicles will be delivered, with the remainder arriving in phases. Among these, 1,000 will be electric vehicles, underscoring Lagos’ commitment to reducing fossil fuel dependence and lowering its carbon footprint.
“This investment deal will further enhance efficiency and elevate smart mobility in the e-hailing sector.
“These vehicles will be tailor-made for Lagos terrain, operating on low carbon emissions, with improved technological interaction and energy transition,” said Sanwo-Olu.
The LAGRIDE initiative, launched in 2022 with 1,000 new cars and mini SUVs, has provided commuters with better transportation options. The latest investment aims to build on this success, extending services and improving the overall quality of public transit in Lagos.
Governor Sanwo-Olu emphasised that the new fleet would be a significant step towards achieving an integrated urban transit system, offering a sustainable alternative to outdated vehicles.
“This is a transportation solution that we are developing to meet all our citizens’ needs to commute safely and comfortably within the metropolis,” he said.
Sanwo-Olu also highlighted the broader impact of the partnership, which includes carpooling, chauffeur services, and tech-driven logistics services. He urged other private players in the transportation sector to initiate similar schemes to enhance mobility in Lagos.
“We will be seeing improvements in operation, advancements in technology, and a significant reduction in carbon footprint.
This demonstrates our commitment to energy transition towards sustainable energy sources.” Sanwo-Olu noted
Commissioner for Transportation, Seun Osiyemi, stated that the deal would help LAGRIDE meet the increasing demand and improve customer satisfaction while boosting fintech support solutions.
He added that the initiative would create jobs and bolster the local economy by enhancing transportation accessibility.
“This is an investment in modern and sustainable transport solutions, in furtherance of the State Government’s efforts to actualize a safer, cleaner, faster, and digitally equipped transportation system under the THEMES Agenda,” Osiyemi said.
The Managing Director of IBILE Holdings Limited, Tobi Lawal, highlighted the benefits of the collaboration, including enhanced transportation infrastructure and boosted tourism, which will improve the State’s aesthetics and efficiency.
Also, the Managing Director of CIG Motor Company Limited, Chief Diana Chen, affirmed its commitment to its partnership with Lagos State.
“Whatever we promised, we delivered. We are committed to helping Nigeria raise its GDP and economic growth. We will make LAGRIDE a Lagos’ pride,” she stated.