The Lagos State Government has announced the launch of Lagos Ride, a ride-hailing service in Lagos, Nigeria. It has also set up a joint venture agreement with CIG Motor Co. Limited to set a vehicle assembly plant.
According to a statement by the Lagos state governor, Babajide Sanwo-Olu, Lagos Ride will deploy 1,000 units of brand new Sport Utility Vehicles (SUVs) within the Lagos metropolis. For him, the new scheme is targeted at improving mobility and creating a multi-modal transportation system for Lagosians.
“The scheme is in fulfilment of our desire to give residents better transportation choices. The modern ride service is one of the State Government’s socio-economic intervention programmes, which will be professionally managed in line with global best practices,” he said.
The branded SUVs the Lagos government is unveiling typically cost upwards of ₦10 million ($26,000) in Nigeria, but the governor revealed that the Cooperative Society in the Lagos Ministry of Wealth Creation will give drivers the room to pay monthly instalments for a period of four years.
At the end of this period, the drivers will be able to fully own the cars.
The government states that this project will fully take off in the next six months.
This move represents yet another ride-hailing initiative with close ties to the state government.