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Lagos Unveils Taxi Scheme for Better Commuting
By Adedapo Adesanya
The Lagos State Government has signed an agreement for the establishment of a new motor assembly plant to commence full operation in a bid to boost the profile of transportation in the state.
This was disclosed at the commissioning of 1,000 taxi units under a new taxi scheme tagged Lagos Ride aimed to revitalise commuting experience on road transportation across Lagos metropolis.
The new development, which has a projected incubation period of 12 and 18 months for the maturity of the taxi scheme and the motor assembly Plant respectively, is a Public-Private Partnership (PPP) arrangement between CIG Motors Company Ltd and the Ibile Holdings Ltd, an agency of the state government.
Under the scheme, the drivers who will be the operators will be given branded GS3, GAC Sports Utility Vehicles (SUVs) for a period of four years within which it is expected that on a monthly basis, they would have a check-up dues to effect payment in instalment within the stipulated period.
The state government noted that it will increase the capacity of the Taxi scheme from the initial 1,000 to about 5,000 to 7,500 units within a short period of time.
It was also gathered that to unveil a subsequent scheme with larger coverage which will make provision for large capacity intervention for small and mass transit buses.
Speaking at the event, the Governor of the state, Mr Babajide Sanwo-Olu, noted that the project was an innovative policy of his administration in the bid to enhance the state’s vision of developing a multimodal transportation system and to strengthen the state’s economy
According to him, the effort is channelled according to the administration’s hope targeted at “making life a lot easier for Lagosians including mobility and creating a seamless multimodal transport system.”
“Remember again that in our THEMES Agenda, the first pillar is traffic management and transportation and we will continue to advocate and promise an integrated multimodal transportation system,” he said.
Further, he noted that the assembly plant upon completion will be productive in boosting the state’s economy while creating new channels of employment opportunities.
“It is, therefore, even more heartwarming to note that the Lagos State taxi scheme is being decorated along with the signing agreement of the establishment of a vehicle assembling plant in Lagos; a project that we believe will create jobs.
“We believe it will accelerate socio-economic growth and will further put our state on the global map as a centre of excellence and modern megacity that is committed to sustainable development.
“As a people-oriented government, we are constantly on our toes thinking of ways to make Lagos a lot more habitable and create opportunities for our residents and citizens and we are initiating and implementing ideas to make life better for more Lagosians and to achieve our dream of a greater Lagos,” he said.
Stating that his government is committed to making Lagos metropolis a major hub of a megacity status, Governor Sanwo-Olu stressed that having a world-class transportation system is significant according to the envisioning of the THEMES Agenda.
“We are working on the rails, waterways, and we will continue to work on road infrastructure. We are guided by the need for an equitable transportation system with choices for our citizens.
“So, this Taxi Scheme to be known as ‘Lagos Ride’ which is being commissioned today, is in fulfilment of our desire to give Lagosians a transportation choice.
“It is one of the Lagos State socio-economic intervention programme. The modern ride service will be professionally managed in line with the global best practice. The seed for this transaction is that we are doing the first 1,000 taxis which we will be handing over once they all arrive at all of our well-trained drivers.
“It is a social intervention programme that is tailored at ensuring that we can eradicate poverty, provide jobs opportunities for our citizens as well as provide basic necessities that they need to make life a lot more bearable.
“We believe that it is a partnership that would work. We believe that our citizens require this and we believe that the employment that we are creating and generating from this will be second to none.
“So, this scheme is a partnership with CIG motors who are also establishing a motor assembly plant here in Lagos for the production of different classes of vehicles.
“We believe that the establishment of the motor assembly plant is expected to revive industrialisation, increase citizens employment and create wealth for us. It will certainly boost tourism, encourage technology sharing and adaptation, and advancement among our citizens,” he said.
According to him, this will ensure that such vehicle production and taxi system are such that are competitive with the best global standards.
“This is our very modest intervention to recreate the Lagos of our dream and bring it to fruition,” he added.
According to the state’s Commissioner for Transportation, Mr Frederick Oladeinde, the scheme, which is a form of social intervention programme operated by a private entity, will produce benefits that will significantly boost the profile of socio-economic and technological activities in the Lagos metropolis.
In her remark, the Chairman, CIG Motors Company Ltd, Mrs Diana Chen, described the new development as a product of a business tour of China by Governor Sanwo-Olu in 2019.
Assuring full commitment to make the partnership agreement an enviable venture to the benefit of the State, she disclosed that the Group is going to sponsor about 50 students who are interested in engineering training for two years in one of the best vocational school in China.
“This is further to Mr Governor’s trip to China in November 2019 which was a fruitful official business trip where numerous big projects and partnership cooperations were further strengthened and forged.
“Proudly, I can say that today’s ceremony on GAC Motors assembly plant and Lagos Taxi Scheme are amongst Mr Governor’s China Trip output and delivery.
“It is important, to show the commitment towards the creation of the Sister State relationship between Lagos State and Guangdong Province.
“We, the Choice International Group (CIG), as the facilitator, will repay you back with our full commitment and delivery on what we signed today. My teams are ready to work with 100% per cent effort to build GAC Motors in Nigeria at the highest level of a brand.
“This international JV project, I believe will also soon bloom up in the Chinese business communities both in Nigeria and China. I can assure you, we will use it as the best example case to introduce and promote a “Greater Lagos and Greater Opportunities.
“Your excellency, your wise decision to partner with us to set up a world-class Assembly plant, definitely is the right decision and a good investment, for both the government and the consumers in Nigeria. Because our mission is the same: let more Nigerians afford a brand new car with trusted quality and enjoyment of driving,” Mrs Chen said.
By Adedapo Adesanya
Mobility fintech, Moove, has raised $250 million in a Series C round, valuing the company at $2.1 billion, finally attaining a long-pursued unicorn status.
The round was led by Mubadala Investment Company and co-led by Woven Capital, Toyota’s growth fund, and Ion Pacific. New backers BlueCrest Capital Management, Sona Asset Management and The Raptor Group also joined, alongside existing investors BlackRock, MUFG, Franklin Templeton, Uber and others.
The funding will help Moove expand its autonomous vehicle business by investing in fleet ownership and its robotics-powered depots, known as “Nests,” where autonomous vehicles are charged, maintained, serviced and managed for continuous operation.
Through its partnership with Waymo, Moove is already a leading third-party autonomous fleet operator, with operations live in Phoenix and Miami, and future operations in London.
The capital will also support the company’s expansion into new global markets. As part of the growth plan, Moove expects to increase its autonomous vehicle workforce by more than 220 per cent by the end of the year, growing from about 150 employees to around 500.
Moove said scaling autonomous mobility requires more than just self-driving vehicles. It also needs investment in fleets, charging infrastructure, maintenance facilities and operational systems. The company is building this supporting infrastructure to make autonomous transport reliable and scalable across cities.
Moove started in Africa in 2020 by financing cars for drivers working on ride-hailing platforms. It later entered the UAE, India, the US and the UK. The company also works with Uber, which joined a $100 million funding round in 2024 that valued Moove at $750 million. The new valuation is 2.8 times that level.
Speaking on the deal, the co-chief executive and Advisory Board Chairman of Moove, Mr Ladi Delano, said, “Every major technology revolution becomes an infrastructure race. The internet required data centres. AI required compute. Autonomy requires fleets, charging, maintenance, data systems and 24/7 operations in every city – and that is what Moove is building. In our view, as autonomy scales, infrastructure ownership and operations will define the category leaders. We are building to be one of them.”
On his part, Mr Ali Eid AlMheiri, Executive Director of Diversified Assets, UAE Investments Platform at Mubadala, said: “As autonomous mobility moves from innovation to scaled deployment, the infrastructure supporting it becomes increasingly important. Moove is building an integrated operating platform that combines fleet ownership, operational capability, and technology to support the next phase of growth in autonomous mobility. This is particularly important for the UAE.”
Adding her input, Ms Betty Lee, Principal at Woven Capital (Toyota’s Growth Fund), said, “Moove has demonstrated an exceptional ability to execute across markets, building a global platform across traditional and autonomous vehicle fleets. The next wave of mobility is an infrastructure problem as much as a software one, and Moove is building the foundational layer to solve it.”
For Mr Michael Joseph, co-CEO & Co-Founder of Ion Pacific Limited, said: “We’ve partnered with the Moove team for more than five years, and their execution has consistently impressed us. As autonomous mobility moves from possibility to reality, Moove is building a critical infrastructure layer for the sector – one that is complex, adaptive and essential to scaling AVs. We’re excited to be part of that journey.”
By Aduragbemi Omiyale
The corporate mobility solution from Bolt, Bolt Business, has expressed its desire to strengthen relationships with existing customers in Nigeria by introducing solutions tailored to industries with frequent employee mobility needs, including healthcare, financial services, legal services and logistics.
This is as the organisation, over the past 12 months, delivered double-digit growth in the country, driven by expanding adoption across multiple industries, growing demand from small and medium-sized enterprises (SMEs), and an increasing number of firms seeking cost-efficient alternatives to managing in-house transport fleets.
The Country Manager for Bolt for Business Nigeria, Mr Isaac Iroko, disclosed that the smarter mobility solutions being planned will improve visibility, simplify expense management and support business growth.
“Our focus remains on building products that create value for organisations of every size while delivering a seamless experience for their employees,” he stated.
Bolt Business has continued to experience an increasing demand from businesses seeking smarter, more efficient ways to manage employee transportation and business travel.
It serves organisations across a broad range of industries, including financial services, technology, healthcare, professional services, manufacturing, logistics, media, real estate and fast-growing consumer businesses.
The growth reflects a broader shift in how Nigerian businesses approach corporate mobility. Rather than maintaining expensive vehicle fleets or relying on fragmented transport arrangements, more organisations are adopting digital mobility platforms that offer greater transparency, control and operational efficiency.
“Businesses today are looking beyond transportation; they’re looking for smarter ways to optimise operations and manage costs.
“We’ve seen organisations across different sectors embrace Bolt Business because it gives them a simple, reliable and transparent way to manage employee travel, whether it’s daily commutes, client meetings or business trips.
“This growth demonstrates that corporate mobility is becoming an increasingly important part of business efficiency in Nigeria,” Mr Iroko stated.
Unlike traditional fleet management, Bolt Business enables companies to centralise transportation through a single platform, providing features such as centralised billing, trip reporting, spending controls and real-time visibility into employee travel. These capabilities help businesses improve oversight while reducing the administrative burden associated with corporate transportation.
By Modupe Gbadeyanka
To boost economic activities in Lagos Island and support residents, the chief executive of the Lagos State Lotteries and Gaming Authority, Mr Bashir Are, sponsored the training of eight persons at the LagRide Drivers Academy through the LagRide Partner Programme.
Mr Are funded both the academy training and the vehicle costs, removing the two barriers that most frequently prevent qualified drivers from entering formal, structured employment in the mobility sector.
The beneficiaries were handed over keys to their vehicles at a ceremony in Lagos on Tuesday, July 21, 2026.
They now operate a LagRide vehicle under the platform’s Drive To Own programme, which allows a Captain to earn daily income while working towards full ownership of the vehicle at the end of the agreed payment term.
“The initial capital required to be onboarded was never going to come from these young men, so we provided that intervention financially so that they can have good employment.
“Lagos is a megacity. My agency runs the largest gaming and fintech conference on the continent every year, and when those delegates arrive, we do not want them driven around in poor vehicles. This is also employment for our own people, and we have a great deal of unemployment and underemployment in this country.
“These Captains are from Lagos Island Local Government, and they can now take care of their own families. Let me be clear about one thing. This is not a project. It is a programme, and it continues,” Mr Are stated.
Also speaking, the chairman of LagRide, Ms Diana Chen, said, “Today is just a new beginning, and more and more people will come. More local governments will join us, and one day we want to bring the Governor here so that this programme runs across the state.
“LagRide is a platform where a person comes to take a job and ends up owning the vehicle. It is also a platform that any government, or any organisation with a social development or CSR mandate, can use to empower the people they want to support. The people get their own asset at the end of it.”
On her part, the lawmaker representing Lagos Island Constituency I in the Lagos State House of Assembly, Mrs Omolara Oyekan-Olumegbon, said, “Everyone keeps saying there are not enough jobs for our youths. This is our own way of ensuring that they are empowered.
“When you give a person money, it is money, and it finishes. This is the difference between giving a man a fish and teaching him how to fish. You are giving these young men something they can use to take care of themselves, their families and their homes.
“We must thank the chief executive of the Lagos State Lotteries and Gaming Authority for doing this, and I must also thank Chief Diana Chen. Lagos Island is a commercial hub, and we intend to keep the flag flying. This is the beginning, and we will be coming back to ask for more.”
