In its effort to modernise the state’s public transportation, The Lagos State Government and CIG Motors Company have signed a pact to roll out 5,000 new smart taxis under the LAGRIDE e-hailing scheme .
Announcing the $260 million investment on Tuesday, Governor Babajide Sanwo-Olu said it is aimed at transforming the transport landscape of Lagos.
The agreement, involving IBILE Holdings Limited, a State-owned corporation, partnering with CIG Motors to add brand-new vehicles to the LAGRIDE fleet was supervised by Governor Sanwo-Olu himself.
At start up, 2,000 vehicles will be delivered into the system, with the remaining 3,000 to arrive in phases. Also, 1,000 of the vehicles will run on electric, underscoring Lagos’ commitment to reducing fossil fuel dependence and lowering its carbon footprint.
The Governor said, “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.”
He stated further, “This is a transportation solution that we are developing to meet all our citizens’ needs to commute safely and comfortably within the metropolis.
“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.”
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.
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