Lagos Signs Deal With CIG Motors, To Add 5000 Cars To LAGRIDE
Lagos State Governor, Mr Babajide Sanwoolu on Monday witnessed the signing of another Joint Venture partnership between a State-owned corporation, IBILE Holdings Limited, and CIG Motor Company Limited for the acquisition of 5,000 brand new vehicles to the fleet of LAGRIDE, bolstering Lagos economy with $260 million investment.
The State is expected to take delivery of 2,000 units of the new vehicles in the first phase; the rest are to be delivered in tranches. The new fleet will have 1,000 electric vehicles, with the aim of reducing dependence on fossil fuels and pruning the carbon footprint.
Recall, Lagos State Government, in 2022, launched its first LAGRIDE initiative with 1,000 brand new cars and mini SUVs, giving commuters better transportation options.
Mr Governor says the initiative was part of his administration’s vision to transform and modernise the public transportation, giving the State an integrated urban transit system as sustainable alternative to outdated vehicles being used for transportation.