LagRide has unveiled a new vehicle leasing programme that will put 10,000 additional drivers on Lagos roads in time for the festive season. The company said the initiative, supported by Nigerian banks, is part of its broader expansion strategy to meet the rising demand for transport services during the busy Ember months.
The ride-hailing platform, operated under a Public-Private Partnership between the Lagos State Government and CIG Group, announced the development in a statement on Tuesday. It explained that Lagos, already one of Africa’s busiest cities, witnesses an annual spike in travel during the holiday period as families reunite, religious gatherings swell, and the diaspora returns home.
According to the company, the new leasing programme is designed to empower drivers with access to brand-new CIG vehicles through bank-supported financing, removing the barriers that often prevent individuals from entering the sector. The scheme provides drivers with a clear path to ownership while ensuring they earn sustainable incomes and avoid the hidden costs that frequently weigh down independent operators.
LagRide noted that the programme reflects its ongoing commitment to providing safe, reliable, and affordable mobility solutions across Lagos. By creating opportunities for more drivers, the firm said it is not only improving service quality for riders but also equipping local entrepreneurs with tools to build long-term financial independence.
The company stressed that transparency will be central to the scheme’s operations, allowing drivers to better manage expenses while focusing on service delivery. It added that the move is in line with its philosophy of delivering local transport solutions that meet international standards.
Industry watchers believe the rollout of 10,000 additional vehicles could significantly ease transportation pressure during the festive period, when demand for mobility in Lagos typically outstrips supply. The initiative also highlights the growing role of bank-financed vehicle leasing in reshaping the ride-hailing landscape in Nigeria’s commercial hub.
