Lagos State has entered into a partnership agreement with CIG Motors Company Limited to acquire 5,000 new vehicles for its transportation system.
The agreement was signed on Monday at the government house in Alausa, Ikeja.
Governor Babajide Sanwo-Olu said the partnership was facilitated by Ibile Holdings Limited, a state-owned corporation.
Sanwo-Olu emphasized that the project aims to transform road transportation in Lagos, creating jobs and economic opportunities for residents.
“We utilized our investment arm, Ibile Holdings, to facilitate this joint venture with CIG Motors and GAC Motors for the acquisition of 5,000 new vehicles,” the governor explained.
“We initiated the first phase with 1,000 vehicles, which successfully provided jobs and an e-hailing service. Recognizing the need for more vehicles and diverse brands, we are now planning to bring in 2,000 vehicles, including electric models, to address climate change and energy transition concerns.”
Sanwo-Olu also outlined plans to introduce carpooling, logistics services, and executive chauffeur and rental services to enhance the new transportation system.
