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Taxi service, ‘Lag Ride’, with 1,000 new cars launched in Lagos
The Babajide Sanwo-Olu -led Lagos state government, on Wednesday, launched a new taxi scheme with no fewer than 1,000 brand-new GAC-branded cars.
The taxi scheme, codenamed ‘Lag Ride’, was launched at a well attended ceremony held at the State House in Alausa .
Gboyega Akosile, the Chief Press Secretary to the Lagos state governor, in a statement explained that the ride-hailing taxi initiative, which is being operated on a lease-to-own basis, is a component of the state government’s multimodal transportation blueprint being executed under the Traffic Management and Transportation pillar of the THEMES agenda of the Sanwo-Olu administration.
The initiative, according to him, is a partnership between Lagos State-owned IBILE Holding Limited and CIG Motors Company Limited, with the objective to provide clean and reliable means of taxis movement across the metropolis at affordable cost, using brand-new vehicles.
Operators are required to pay about N1.9 million down payment, of which the sum covers the 20 per cent equity of cost of vehicle, registration and insurance. Each car being used in the scheme comes with technology-enabled security features that monitor every journey undertaken.
L-R: Ambassador of China to Nigeria, Amb. Cui Jianchun; Chairman, Choice International Group, Chief Diana Chen; Lagos State Governor, Mr. Babajide Sanwo-Olu; Deputy Governor, Dr. Obafemi Hamzat and Chief Executive Officer, IBILE Holdings Limited, Mr. Abiodun Amokomowo during the formal launch of 1000 Cars for Lagos Ride Taxi Scheme, at the Sports Ground, Lagos House, Alausa, Ikeja, on Wednesday, 23 March 2022.
Launching the scheme, Governor Sanwo-Olu, said the state had moved another step forward in its drive to develop an efficient transportation model in tune with modernity and comfort.
He noted that the aim was not to run existing hailing ride operators out of the business, but to offer a safer alternative and clear the roads of rickety cars being used for taxi business.
Sanwo-olu maintained that the schemes will provide opportunities to the operators to become owners of the vehicles within a three to four year period.
“The need to provide better, dignifying and more rewarding means of transportation and livelihood for unemployed and underemployed population gave birth to the new ‘Lagos State Taxi Scheme’, which will be operated on a lease-to-own basis. Under this arrangement, a beneficiary will be provided a brand-new car which will become the driver’s property after completion of the payment of the vehicle’s subsidised cost.
“This taxi scheme will complement the various bus services which are making significant impact in the lives of our people; the water transport service, which is recording unprecedented patronage, as well as the Blue and Red Line Rail services which are on course to commence commercial operations between the last quarter of this year and the first quarter of 2023,” Sanwo-Olu said.
To improve riders’ and passengers’ security, the governor said a full security gadget, including a 360 dashboard camera that will give 24-hour audio-visual feeds to the control centre, had been pre-installed on each car deployed for the scheme.
He added that each car came with a physical panic button that could be used by anyone on board in case of assault or emergency. The panic button, the Governor said, is also on the mobile application and is connected to the Control and Command Centre.
Sanwo-Olu disclosed that the automobile assembly plant being set up in Lagos – another component of the partnership between CIG Motors’ and the State Government – stood at 60 per cent completion, with the launch of its operations expected in September.
“What we are witnessing today is that Lagos is moving away from the era of rickety ‘Kabu Kabu‘ to a brand-new, comfortable and safe transport system. The multiplier effect of this singular initiative on job creation, youth employment and economic growth and development in the State cannot be overstated,” he said.
Commissioners for Transportation, Dr. Frederic Oladehinde, described the scheme as “another milestone achievement” by the State Government, noting that the initiative had joined an array of other innovative solutions initiated in the transport sector, which were targeted at redefining public transportation.
To make the rides affordable, the Commissioner said the technology on which the scheme is operated had made ride-sharing possible for passengers, who would agree to share rides and share transit costs.
Chairman of CIG Motors in Nigeria, Mrs Diana Chang, said the roadmap for the urbanisation of the transportation system in Lagos started in November 2019 when the Governor and members of his cabinet visited the Republic of China for bilateral partnership. The launch, she said, is the glorious end of the partnership sealed with Chinese investors.
“We are using this partnership to promote a Greater Lagos where opportunities abound for citizens of the state, while creating a win-win model for all stakeholders,” she said.
Also speaking at the event, the Managing Director of IBILE Holding, Mr. Abiodun Amokomowo, said over 5,700 drivers had downloaded the driver’s mobile apps as at last Tuesday, out of which 1,786 drivers submitted applications.
Amokomowo added that registration and enrolment fees have been accepted from 359 drivers, while others are awaiting screening.
As part of the process, each operator is expected to undergo full verification which will include their Lagos State Drivers’ Institute (LASDRI) ID cards, medical history, verification of NIN and Lagos resident registration numbers and other background checks to ensure the safety of passengers.
“The launch of the taxi scheme was received with a warm embrace by ride hailing drivers, who described the initiative as a “unique, better alternative”, the IBILE Holding boss added.
Sam Mfuk, who is the first successful driver to get on board of the scheme, said: “When we first heard about Lagos Ride, we were sceptical. But, when we attended the stakeholders’ meetings, we changed our minds. Lagos Ride has become the answer to our prayers in ride hailing sector”.
The Minister-designate for Power, Joseph Olasunkanmi Tegbe, has firmly clarified that he never promised to fix Nigeria’s national electricity grid within three months, describing such claims circulating in sections of the media as a misrepresentation of his Senate screening remarks.
A statement issued after his appearance before the Senate stressed that Tegbe was deliberate and cautious in his presentation, avoiding unrealistic timelines while outlining a structured reform pathway for the power sector.
According to the clarification, Tegbe explained that while Nigerians can expect early signs of progress, particularly in grid stabilisation within his first 100 days in office, comprehensive reforms will be guided strictly by technical assessments, stakeholder consultations, and sector realities.
He noted that critical challenges such as gas supply constraints, metering gaps, infrastructure decay, and commercial inefficiencies require coordinated interventions that cannot be resolved through arbitrary timelines.
“My commitment to this distinguished chamber and to Nigerians is clear: we will deliver visible and measurable improvement in the power sector,” Tegbe stated during the screening.
He assured that his focus would include stabilising the national grid, modernising transmission and distribution infrastructure, strengthening commercial frameworks, and enforcing accountability across the electricity value chain.
On tariff policy, the minister-designate reaffirmed that reforms would be carefully designed to balance sustainability with social protection, ensuring that vulnerable households are shielded while also restoring investor confidence in the sector.
The statement further emphasised that Tegbe’s approach reflects discipline, technical understanding, and a reform-minded agenda aimed at delivering lasting solutions rather than short-term political promises.
It added that he remains open to responsible media engagement and constructive clarification where necessary, noting that accurate reporting is essential to public understanding of ongoing efforts to reposition Nigeria’s power sector.
Tegbe reaffirmed his readiness to lead a transparent, results-driven reform process anchored on accountability, realism, and measurable progress.
A grand cultural renaissance celebrating the enduring legacy of legendary Yoruba war hero and statesman, Ogedengbe Agbogungboro, will take centre stage as the 2026 edition of Ogedengbe Fiesta holds from July 29 to 31 across Osun State and Ekiti State.
The three-day heritage festival, unveiled by organisers on Wednesday, is themed, “Ogedengbe Agbogungboro Legacy: Leadership, Security, and Statecraft for Modern Governance in Nigeria.”
The event is designed to preserve Yoruba cultural heritage, deepen historical consciousness, promote tourism and stimulate national conversations on leadership, peacebuilding and governance.
According to the organisers, the fiesta will commence with traditional homage at Atorin and heritage excursions to notable Kiriji War historical sites in Imesi-Ile, where participants will relive significant moments in Yoruba military and political history.
The programme will also feature guided visits to the historic Ogedengbe Cave, Ibu Latoosa Site and the Yoruba Peace Treaty Grove, all regarded as symbolic monuments of Yoruba resilience, diplomacy and unity.
As part of activities lined up for the celebration, participants will tour the gardens of renowned legal icon and elder statesman, Afe Babalola, in Okemesi-Ekiti.
The organisers further disclosed that a Legacy Awards and Hall of Fame Investiture ceremony would hold in Ilesa to honour individuals who have contributed immensely to the promotion of Yoruba culture, leadership and community development.
A distinguished personality lecture in honour of Aare Afe Babalola, SAN, OFR, CON, and Arole Fabunmi of Okemesi-Ekiti is also expected to headline the event, with scholars, traditional rulers, cultural enthusiasts and public intellectuals billed to discuss pathways to strengthening governance and security through indigenous values and historical lessons.
The organisers noted that all activities would commence daily by 11am, adding that the festival would serve as a rallying point for lovers of Yoruba culture, history and tourism across Nigeria and beyond.
They described the fiesta as not only a celebration of the heroic exploits of Ogedengbe Agbogungboro, but also a strategic platform to inspire a new generation of leaders through the ideals of courage, unity, patriotism and visionary leadership.
The Federal Government on Tuesday ruled out any plan to reinstate fuel subsidy despite worsening economic hardship and mounting public pressure.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, stated this in Paris, France, during a meeting with global investors alongside President Bola Tinubu.
Oyedele said the government would also not introduce price controls, stressing that market forces remain the preferred mechanism for determining petrol prices.
“We will not bring back fuel subsidy because it creates distortions for the economy, and we won’t introduce price control because we believe in the market,” he said.
The minister argued that the subsidy regime had long undermined economic efficiency, adding that emerging global energy shifts, including developments in Iran, present fresh investment opportunities for Nigeria.
The removal of petrol subsidy in May 2023 triggered a steep rise in inflation, worsening the country’s cost-of-living crisis.
Nigeria’s headline inflation climbed from 22.41 per cent in May 2023 to 34.19 per cent by June 2024 — its highest level in nearly two decades — driven by surging fuel, food, and transportation costs.
Food inflation further accelerated, exceeding 39 per cent by October 2024, while transport fares soared by nearly 300 per cent, compounded by currency devaluation.
Despite the economic strain, Tinubu defended the policy, saying it had stabilised the foreign exchange market.
“Subsidy that was a burden to the entire country was removed, and ever since we have achieved FX stability,” the President said, according to his Special Assistant on Social Media, Dada Olusegun.
In a related statement, the President’s Special Adviser on Information and Strategy, Bayo Onanuga, said the administration’s reforms were aimed at eliminating structural distortions, strengthening macroeconomic stability, and laying the foundation for inclusive growth.
He added that the government remained committed to fiscal discipline and transparency.
Highlighting economic progress, Oyedele disclosed that Nigeria recorded an 11.2 per cent growth in Gross Domestic Product in dollar terms in 2025, describing it as a major step towards the country’s ambition of building a $1tn economy by 2030.
He also pledged that the government would begin publishing quarterly financial reports to enhance accountability and public trust.
Also speaking, the Director-General of the Debt Management Office, Patience Oniha, assured investors of Nigeria’s commitment to prudent borrowing and sustainable debt management.
The Federal Government has continued to defend its reform agenda despite growing public discontent, insisting that the long-term gains will outweigh the current economic pains.
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