The Lagos State Governor, Babajide Sanwo-Olu made an announcement on the 4th of March, 2021 about a new e-hailing taxi service that is to rival private companies, such as Uber and Bolt.
The announcement was made after the governor signed a partnership agreement with CIG Motors Company Limited. The taxi service will pilot a fleet of 1,000 units of new Sport Utility Vehicles (SUVs) and will fully begin activities in the next six months.
The Cooperative Society in the Lagos Ministry of Wealth Creation and Employment will be providing brand new SUVs to operators for four years, during which, they are expected to pay a monthly installment, and at the end of the credit tenure, the cars fully belong to them
According to the governor, the service is a social intervention program designed to create jobs and economic opportunities for Lagosians. The service has also been structured with a profitability model, designed to be self-sustaining for economic expansion and growth.
In his words, “A major attribute of a modern megacity is a world-class transportation system with inter-connected services and mobility choices for the citizens.
“The task of bequeathing a safe, efficient, quick, and modern public transportation system is a key thrust of our administration’s development agenda.
“We are guided by the need for an equitable transportation system with mobility choices for our people.”.