LagRide rolls out 10,000 cars with bank-backed leasing ahead of Ember rush
- CIG Group's LagRide is expanding its fleet with a new leasing plan for 10,000 drivers and cars.
- The leasing plan is backed by Nigerian banks and includes insurance, maintenance, and operational support.
- Drivers can earn between ₦250,000 and ₦400,000 monthly, with top performers potentially owning their cars in six months.
LagRide's initiative reflects a strategic move to enhance local entrepreneurship and improve service quality in Nigeria's competitive ride-hailing market. However, the reliance on a financing model that has faced criticism could pose risks to its sustainability and reputation. Ongoing monitoring of driver satisfaction and operational efficiency will be crucial for its success.
