LagRide is set to roll out a bank-backed vehicle leasing programme that will see 10,000 additional drivers take to the roads in time for the Yuletide season.
LagRide said the development is part of its expansion plan to meet growing demand, as the bustling Ember months approach, bringing with them the annual surge in travel and festivities across Lagos.
Operated under a Public-Private Partnership between the Lagos State Government and CIG Group, LagRide announced this initiative in a statement released on Tuesday, endorsed by Diana Chen, Chairman of CIG Group.
According to the statement, the move reflects LagRide’s continued commitment to offering safe, reliable, and affordable transport to both residents and visitors navigating Lagos during one of its busiest periods.
“LagRide exists so that movement around the city is dignified, safe, and joyful. By joining forces with Nigerian banks, we are handing the steering wheel of that experience to empowered local entrepreneurs.”
A key part of the expansion is a vehicle leasing scheme designed to empower drivers with bank-supported financing, giving them access to brand-new CIG vehicles with minimal entry barriers.
In addition, the structure allows drivers to earn a sustainable income while building long-term financial independence. The arrangement will also help the drivers manage operational costs transparently, eliminating the hidden charges that often burden independent drivers.
Jubril Arogundade, Acting Managing Director of LagRide Nigeria Limited, said, “The new leasing programme continues that promise by giving drivers a simple, transparent route to owning the cars they drive while improving service quality for riders.”
