SMEs and Ventures

Lagos to Roll Out 5,000 Smart taxis Across The State

The Lagos State Government has concluded arrangements to roll out smart taxis across the State. A total of 5,000 taxis would be in the fleet. According to the Governor, Babajide Sanwo-Olu, this forms part of Governments plan to transform and modernize public transportation in the State

“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 Lagos State Government and CIG Motor Company Limited in the acquisition of 5,000 brand new GAC vehicles for the LAGRIDE initiative.

Joint Venture partnership between Lagos State Government and CIG Motor Company Limited

“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 in order to extend the e-hailing service to other parts of the State. Introduction of electric powered vehicles into the fleet is to change the narrative. We will begin to see the drop in carbon footprint. This demonstrates our commitment to energy transition towards sustainable energy sources.”

The State Government is set to receive 2,000 new vehicles in the coming weeks, with 1,000 of them being electric vehicles. This move reflects the government’s dedication to reducing reliance on fossil fuels and minimizing the carbon footprint. The new fleet will not only enhance efficiency but also contribute to the modernization of public transportation, providing citizens with a sustainable and comfortable commuting option.

The first LAGRIDE initiative was launched by the Lagos Government in 2022, providing 1,000 brand new cars and mini SUVs to improve transportation options and convenience for commuters. Governor Sanwo-Olu stated that this new investment deal will further improve efficiency and elevate smart mobility in the e-hailing sector.

The vehicles will be specifically designed for Lagos terrain, with a focus on low carbon emissions, enhanced technological interaction, and energy transition. This initiative is part of the administration’s vision to modernize public transportation and establish an integrated urban transit system as a sustainable alternative to outdated vehicles.

The Governor emphasized that this transportation solution aims to meet the commuting needs of all citizens within the metropolis, with the investment arm serving as a vehicle to execute a successful Joint Venture partnership between the Lagos State Government and CIG Motor Company Limited for the acquisition of 5,000 brand new GAC vehicles for the LAGRIDE initiative.

The partnership with CIG Motors, which began two years ago with 1,000 brand new cars, has already demonstrated benefits in terms of job creation and economic empowerment. The plan is to expand the fleet and extend the e-hailing service to other parts of the State, with the introduction of electric powered vehicles aimed at reducing carbon footprint and transitioning towards sustainable energy sources.

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