LagRide Celebrates Major Milestone, Promises Improved Operations

Ugo Aliogo

After crossing the one year mark in business, state-owned drive-to-own scheme and transport agency, LagosRide, is celebrating delivering on its objectives of empowering Lagosians and providing mobility solutions.

Following an official launch by the Executive Governor of Lagos State, Mr. Babajide Sanwo-Olu in 2022, the drive-to-own scheme aimed at empowering enterprising Lagosians who are interested in directly fulfilling smart mobility needs, and to support Lagos State’s efforts to improve the transit experience of its residents.

With a starting fleet size of 1,000 vehicles, 750 units of SUVs and 250 units of Sedans, LagRide entered the transport industry under the supervision of Ibile Holdings Limited and Zenolynk Technologies Limited as the technology service provider.

“In over one year of its operations, LagRide has met some of its target objectives, and this is largely owed to our captains who strive hard to ensure the mobility needs of Lagosians are met daily.

“We consider our dedicated captains and esteemed riders our greatest asset and strive to ensure superb experience for both.

“Notwithstanding, we acknowledge that the last one year has not been without its own challenges and lessons – not unusual for such an operation in its early days. The newly-appointed Executive Management of Ibile Holdings Limited is committed to an improvement in the company’s operations through a revalidation process, specifically in the area of vehicle allocation, ensuring that vehicles are allocated only to eligible individuals who will use them strictly for smart mobility services, under the approved drive-to-own structure, which affords the driver eventual ownership of the vehicle after all obligations have been met.

“The revalidation exercise is extensive and may be misrepresented by some unscrupulous elements working against the success of the Scheme. We kindly ask for the public’s understanding and confidence as we restore the Scheme’s mandate,” the management further stated.