UBA partners with LagRide to empower 3,500 drivers …boost clean-energy transport in Lagos
United Bank for Africa (UBA) Plc has signed a $100 million facility with LagRide, the Lagos State-backed e-hailing platform, to support vehicle ownership for 3,500 drivers and promote environmentally friendly transport across Lagos.
The collaboration, which involves Lagos State Government, seeks to transition drivers from renting to owning vehicles over a four-year period.
Beyond vehicle ownership, the program will provide structured training to enhance professionalism and road safety, while fostering financial inclusion and economic empowerment.
Speaking at Tuesday’s signing ceremony, UBA Group Managing Director/CEO, Oliver Alawuba, highlighted the initiative as a strategic move to create jobs, improve urban mobility, and drive sustainable economic growth.
“This partnership is designed to finance up to 3,500 LagRide drivers, enabling them to move from renting vehicles to ownership within four years.
”Alongside this, we are providing structured training to boost professionalism and ensure safer rides for passengers.
”This initiative will support financial inclusion, stimulate economic activity, and contribute to social progress across Lagos,” Alawuba said.
A key feature of the programme is the use of compressed natural gas (CNG) vehicles, aligning with Nigeria’s clean-energy objectives and reducing the environmental impact of urban transport.
“The adoption of CNG vehicles ensures cleaner energy and a healthier environment for everyone. Professional training for drivers will also enhance passenger safety and reliability,” Alawuba added.
LagRide Chairman, Diana Chen, stressed the programme’s driver-focused approach.
“Our goal is to empower drivers, transforming them from casual workers into structured platform participants with a clear path to vehicle ownership.
”Passengers will benefit from a larger, more reliable fleet and improved service,” she said.
Chen also highlighted the role of CIG Motors, the vehicle partner, whose decade-long experience and nationwide workshop network will ensure vehicle maintenance and safety standards are upheld.
The partnership is expected to strengthen Lagos’ ride-hailing ecosystem while promoting financial empowerment, professional development, and a cleaner urban environment.
