CIG Group’s ride-hailing platform, LagRide, is expanding its fleet. The company has launched a new leasing plan that will put 10,000 new drivers and cars on the road before the December travel surge.
The scheme is supported by Nigerian banks. Drivers will get brand-new CIG vehicles through bank financing, with repayments tied to kilometres driven. Insurance, maintenance, and operational support are included. The cars also come with ownership plans, letting drivers work towards full possession.
Monthly earnings are projected between ₦250,000 and ₦400,000. Top performers could own their cars in as little as six months. The first batch of bank-financed cars will roll out by late September, ahead of weddings, concerts, and family travel that mark the Ember months.
Chief Diana Chen, Chair of CIG Group, framed it as part of Lagos culture. “Lagos becomes the heartbeat of Africa during the Ember months. Churches fill, families reunite and our diaspora comes home. LagRide exists so that movement around the city is dignified, safe and joyful. By joining forces with Nigerian banks, we are handing the steering wheel of that experience to empowered local entrepreneurs.”
The push for 10,000 new drivers is a major test for LagRide. Nigeria’s ride-hailing market is still dominated by Bolt, Uber, and InDrive. By linking car access with bank-backed leasing, LagRide is betting on a mix of affordability, safety, and driver ownership to gain ground. However, the model is not completely different from the asset financing model that has come under huge criticism in recent times.
Click to signupIt also comes months after our report on LagRide’s quiet change of control, which saw CIG Motors take over operations from Zenolynk Technologies, the original developer. The handover ended a five-year state-backed partnership and raised questions about the platform’s direction.
The company’s LagRide Academy will train new drivers in customer service, safety, financial literacy, and first aid. Drivers leave with certificates, health insurance, and smartphones. Every car will carry cameras, panic buttons, and live diagnostics linked to control centres.
Jubril Arogundade, Acting Managing Director of LagRide Nigeria, called it a continuation of the platform’s mission. “From day one, we have offered local solutions that meet world-class standards. The new leasing programme continues that promise by giving drivers a simple, transparent route to owning the cars they drive while improving service quality for riders.”
Interested drivers can apply at the LagRide Driver Centre in Ikeja or through the partner app. Requirements include a valid driver’s licence, LASDRI card, and proof of address. Non-drivers can also lease cars and hire trained drivers, creating investor options.
LagRide says the expansion is not just about cars, but about work. Chen summed it up: “This programme is not only about vehicles and finance. It is about dignity of work, pride of service, and the freedom for every Lagosian to move with confidence.”
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