Lagos Ride is a smart mobility solution that allows users to book and share the cost of a ride from their preferred pickup to drop off locations respectively. It will link users up based on their preferred pick and drop off points, each not more than 1km apart respectively, and a pick-up time not more than 5 minutes apart.
We believe this service will contribute to a reduction in traffic congestion in Lagos as it will encourage ride sharing and therefore reduce the frequency of single-occupancy driving.
This scheme was set up as part of ongoing efforts of the Lagos state government to optimize the transit experience of Lagosians.
The state through its investment company, Ibile Holdings intervened in the acquisition of 1,000 brand new cars to be used on the LagosRide platform. The cars would be made available to interested partners/drivers after a down payment of 20% has been made and balance payment will be deducted from daily fares/earnings over a maximum period of 4 years.
Why is LagRide a Better Option
The Lagos Ride platform was built with the objective of protecting the interests of all the stakeholders required to provide great service.
We recognise your role as the most important stakeholder as your service determines the experience of the end-users.
Advantages of LagRide for Drivers
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You have access to comprehensive insurance and registration (No more harassment from Police)
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Fleet management solution to provide routine maintenance and spare part replacement
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Personal insurance to cover accident, disability and loss of life.
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Dedicated mobile device for your operation
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Health insurance to cover for you and your family
Security for you
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SOS Button on your app
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Panic button in your car
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Dash cam to see and ensure we hear your own side of the story
Trainings for you
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LASDRI
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Soft kill re-tooling
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First Aid
Earn More
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Higher revenue per km resulting from ride sharing
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Revenue share on in-car advertising
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Performance based incentives., such as Eko token, Defined Contribution Plans, and lots more
Seamless fare collection
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Wallets
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Card Payments
Requirements to become a LagRide Driver
Pre-qualification
Here you will be required to provide accurate information in the registration form on the sign-up page. A non-refundable fee of N17,000.00 will be paid to cover the following services
- Verification of LASDRI ID (where available, if not we will help you procure one)
- Verification of LASRAA ID (where available, if not we will help you procure one)
- Medical history check
- Security check
- NIN verification
- Driver’s license verification
Onboarding
Successful candidates from the prequalification stage will go on to complete the onboarding process which comprises the following
- Structured training from LASDRI
- Soft skills training
- First Aid training
- Lagos Ride driver app training
After successful completion of the above stages, a car and a mobile device will be assigned to you. You will be required to pay the sum of N1,845,500.00 in this stage. This sum covers the following:
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20% equity 1 of cost of vehicle
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Registration and Insurance
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Advance rent payment on Dashcam for a month
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First - Aid kit
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LASG E-Taxi license
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Soft skill training
Fares & Deductions
All trip fares are expected to be remitted electronically via the LagosRide platform. Where a rider is carrying physical cash, you will be required to credit the equivalent sum in value to the wallet of the user.
Daily deductions from trip fares are in two categories;
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Mandatory debt service of N8,709
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25% for service fee.
Vehicle Ownership
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The vehicle assigned to you after your successful on boarding remains the property of Ibile Holdings till you complete your debt service.
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Title and ownership will only be completely transferred to you upon complete payment of all outstanding obligations.
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You are required to service debt using your daily fares for the first two years, after this,you can pay down on your debt and get out of the obligation, no outright payment shall be honoured in the first 2 years of being in possession of this asset.
Maintenance and Insurance
- Maintenance and all insurance considerations shall be executed on your behalf
- You are required to comply with all maintenance service schedules or calls for maintenance, non-compliance attracts a penalty
- All maintenance requests or complaints about the vehicle in your possession are meant to be logged in the maintenance module in your mobile app.
- Any cost or damage incurred from taking the vehicle to an unauthorized service centre or without prior notice shall be borne by you
- Insurance considerations cover the following:- Comprehensive Insurance; Protection against accident;, disability and/or loss of life; Health insurance for you and your immediate family.
- A pension scheme and a defined contribution scheme are also in place
Deductions and Disbursements
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Your account will show your cumulative net earnings at the end of each day
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Disbursements to you will happen twice a week for now, on Mondays and Thursdays
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You will be responsible for fuelling your car from your net earnings
Cash Collection
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You may only collect physical cash from a rider after he/she has indicated that preference while requesting a trip
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Where cash is the selected mode of payment, once you confirm receipt of cash from the rider, the equivalent sum will be deducted from your net position in your wallet.
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Bank transfers to your personal account are prohibited
For additional information, kindly download the Driver Requirements Document below