LAGRIDE
LAGRIDE is a Lagos State Government-backed ride-hailing platform operating in Lagos, Nigeria, that connects individual drivers with urban passengers and runs a Drive-To-Own programme transitioning drivers into vehicle ownership via a $100M UBA facility.
- Company typePrivate
- Founded2024
- HeadquartersLagos, Nigeria
- Headcount51–100
- GTM typeB2C
- OfferingServices
What LAGRIDE does
LAGRIDE is a privately held, Lagos State Government-backed ride-hailing platform founded in 2024 and headquartered in Lagos, Nigeria. The company operates a mobile-app-based e-hailing service connecting individual drivers with urban passengers in Lagos, earning revenue through commission on completed rides. Its distinguishing feature is the Drive-To-Own programme, a structured 48-month pathway that transitions drivers from vehicle rental to ownership through a $100 million debt financing facility arranged with United Bank for Africa (UBA), supported by CIG Motors as vehicle supplier and the Lagos State Government as institutional backer.
The platform integrates several product modules beyond core ride-hailing: the Drive-To-Own driver empowerment programme (targeting 3,500 drivers transitioning to CNG and electric vehicle ownership), EV charging infrastructure for sustainable fleet operations, and the Refer a Captain campaign paying N20,000 per successful driver referral. Driver selection and progression through Drive-To-Own is governed by a data-led performance system tracking service quality, safety records, and ride completion rates, which is also used to mitigate default risk on UBA's financing facility.
Operationally, LAGRIDE runs an Alausa training and vehicle handover hub in Lagos, graduating cohorts of drivers through multi-phase ceremonies. Go-to-market is direct-to-consumer for riders combined with a structured driver acquisition model — drivers are recruited, trained, equipped and progressed toward vehicle ownership rather than treated as fungible gig workers. Distribution is mobile-app-only and geographically limited to Lagos. The company employs 51-100 staff and is led by Chairman Diana Chen; a December 2025 leadership dispute involving former Acting Managing Director Jubril Arogundade remains an open governance item.
LAGRIDE firmographics
Firmographics- Name
- LAGRIDE
- Legal name
- LAGRIDE
- Website
- https://lagridepro.com
- Company type
- Private
- Founded year
- 2024
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- LAGRIDE is a Lagos State Government-backed ride-hailing platform operating in Lagos, Nigeria, that connects individual drivers with urban passengers and runs a Drive-To-Own programme transitioning drivers into vehicle ownership via a $100M UBA facility.
- Ownership category
- akta.pro rank
LAGRIDE industry classification
Industry- Product category
- Ride-Hailing Services
- NAICS
- Taxi and Ridesharing Services (485310), Taxi and Limousine Service (4853)
- SIC
- Local & Suburban Transit & Interurban Hwy Passenger Trans (4100)
- akta.pro primary industry
- EV Ride-Hailing / Chauffeur Services (EV-Only Fleets) (THADANAG)
- akta.pro secondary industries
- Corporate EV Rental Programs & Charging Coordination (THADAOAK), Managed EV Charging Software (Residential, Fleet, Workplace) (EUAFAMAA), Fleet Fuel, Toll & Expense Management Programs (TLABAHAL), Fleet Management Services (Lifecycle, Compliance, Safety, Driver Programs) (TLABAHAJ)
Keywords
Where LAGRIDE is headquartered
LocationHeadquarters
- HQ city
- Lagos
- HQ country
- Nigeria
- HQ region
- Africa
Offices1 record
Markets served
LAGRIDE business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Ride-hailing transaction fees: LAGRIDE operates as a ride-hailing platform earning commission from rides completed on its platform. Drivers generate revenue through fare collection while the platform retains a percentage as commission.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels3 records
LAGRIDE product offering
Product offeringCore offering
LAGRIDE operates an app-based ride-hailing platform in Lagos that connects independent drivers with riders and earns commission on completed rides. The company distinguishes itself through its Drive-To-Own Programme, which provides qualified drivers a structured 48-month pathway from vehicle rental to ownership, funded by a $100 million debt facility from United Bank for Africa (UBA) and supplied by CIG Motors with a target of deploying 3,500 vehicles. It also invests in EV charging infrastructure to support fleet electrification.
Product overview
LagRide is a Lagos State Government-backed ride-hailing platform that operates as a core ride-hailing service connecting drivers with passengers. The company offers multiple integrated modules: the Drive-To-Own Programme (a driver empowerment initiative that helps approximately 3,500 drivers transition from leasing to vehicle ownership through a $100 million UBA financing facility), EV Charging Infrastructure (supporting sustainable transportation through electric vehicle fleet expansion), and the Refer a Captain Campaign (a driver recruitment incentive). These products work together to build a structured, technology-driven urban mobility ecosystem that emphasizes long-term asset ownership for drivers and sustainable urban transport.
Differentiator
Problem solved
Functional benefit
Brands
- Drive To Own: Driver empowerment programme that provides qualified drivers with structured pathways to vehicle ownership through training and platform standards.
- Refer a Captain
Products and services
- LagRide Ride-Hailing Platform App-based ride-hailing platform in Lagos, Nigeria, connecting individual drivers (Captains) with passengers for urban transportation trips.
- Drive-To-Own Programme A driver empowerment programme that transitions qualified ride-hailing drivers from vehicle rental to ownership through a structured 48-month repayment model, performance monitoring, and training, supported by a $100 million UBA financing facility.
- EV Charging Infrastructure
Quantifiable outcome
- Drivers earning up to N1 million weekly
- +2 more outcomes
Companies that use LAGRIDE
Customer profileNamed customers2 records
Segments1 record
Ideal customer profiles1 record
LAGRIDE technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
LAGRIDE partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- Lagos State GovernmentcoreLagos State Government backs LAGRIDE as a state-supported e-hailing platform. The government partnership aligns with state sustainability goals and urban mobility development, providing regulatory support and public sector endorsement for the Drive-To-Own initiative.
- CIG MotorscoreCIG Motors serves as the vehicle supplier for the Drive-To-Own program, providing CNG vehicles that align with Lagos State's sustainability goals. The partnership involves supply of vehicles for the 3,500 vehicle deployment target under the driver ownership program.
Scale indicators4 records
Recent moves6 records
Expansion highlights4 records
LAGRIDE competitors and assessment
Company assessmentDirect peers
- InDrive: InDrive is a global ride-hailing platform that has scaled rapidly in Nigeria and other emerging markets via its negotiation-based pricing model. Operating in Lagos with a similar app-based format targeting price-sensitive riders and drivers, InDrive is a direct competitor that has been chipping share from the Lagos market.
- Uber: Uber pioneered the app-based ride-hailing model and operates in Lagos, serving the same consumer ride-hailing demand pool as LAGRIDE. As a global incumbent with established brand recognition among Nigerian riders, Uber directly competes for market share and driver supply in LAGRIDE's single geographic market.
- Gokada: Gokada is a Nigeria-based motorcycle and last-mile delivery ride-hailing operator headquartered in Lagos that pivoted into delivery and has re-entered intra-city mobility. As a Nigerian-founded operator with regulatory familiarity and an established Lagos driver base, Gokada competes directly with LAGRIDE for the same driver pool and rider segments.
- Bolt: Bolt operates a global ride-hailing platform with deep penetration in Nigeria and Lagos in particular, competing head-to-head with LAGRIDE for the same drivers and riders. Bolt's app-based model, Lagos operations, and aggressive driver subsidies make it the closest direct competitor in the market LAGRIDE is prioritizing.
Broad incumbents
- Careem: Careem is a Middle East/North Africa ride-hailing and super-app incumbent (acquired by Uber) that overlaps with LAGRIDE's emerging-market ride-hailing model. While it does not currently operate in Nigeria, its African/MENA super-app strategy makes it a comparable broad incumbent for model benchmarking.
- DiDi: DiDi is a global ride-hailing incumbent that has expanded aggressively into Latin America and parts of Africa with localized models targeting emerging markets. While it has limited direct Nigerian presence, DiDi's strategy of subsidizing driver acquisition and asset-financing partnerships with local OEMs and banks mirrors the structural elements of LAGRIDE's playbook.
Regional players
- MAX (Metro Africa Xpress): MAX is a Nigerian mobility startup offering ride-hailing, delivery, and driver financing in Lagos and other West African markets. Its driver-vehicle financing model and African focus place it as a regional peer with overlapping mechanic to LAGRIDE's Drive-To-Own program.
- SafeBoda: SafeBoda is an East African ride-hailing and delivery operator headquartered in Uganda, sharing LAGRIDE's emerging-market mobility focus and structured driver programs. While its core markets are East Africa rather than Nigeria, its model of partnering with local regulators and drivers mirrors LAGRIDE's public-private approach.
Emerging players
- Moove: Moove is a Nigerian-founded vehicle financing and ride-hailing mobility startup that provides revenue-based financing to drivers in Africa and emerging markets. Its focus on driver asset ownership via embedded financing makes it a directly comparable peer to LAGRIDE's Drive-To-Own program, sharing customers (drivers) and category.
- ORide (OPay): ORide was a ride-hailing service operated by OPay in Nigeria before pivoting; OPay's broader payments/wallet ecosystem supports mobility-adjacent services in Lagos. As a Nigerian super-app with deep capital reserves and a Lagos presence, it represents an emerging threat with capital and ecosystem advantages over LAGRIDE.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks6 records
Key highlights7 records
Customer concentration
LAGRIDE social profiles
Digital presenceLAGRIDE financial estimates
Financial estimateRevenue estimate
Valuation estimate
LAGRIDE leadership team
Management profileNumber of profiles
Profiles1 record
LAGRIDE funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
LAGRIDE M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about LAGRIDE
What does LAGRIDE do?
LAGRIDE operates an app-based ride-hailing platform in Lagos that connects independent drivers with riders and earns commission on completed rides. The company distinguishes itself through its Drive-To-Own Programme, which provides qualified drivers a structured 48-month pathway from vehicle rental to ownership, funded by a $100 million debt facility from United Bank for Africa (UBA) and supplied by CIG Motors with a target of deploying 3,500 vehicles. It also invests in EV charging infrastructure to support fleet electrification.
Is LAGRIDE a public or private company?
LAGRIDE is a private company. It is classified as state government owned and is currently operating.
When was LAGRIDE founded?
LAGRIDE was founded in 2024. It employs 51 to 100 people.
Where is LAGRIDE based?
LAGRIDE is headquartered in Lagos, Nigeria, in the Africa region.
How does LAGRIDE make money?
One revenue line is on record: ride-hailing transaction fees.
Who are LAGRIDE's main competitors?
Direct peers on record are InDrive, Uber, Gokada and Bolt. Broad incumbents are Careem and DiDi. Regional players are MAX (Metro Africa Xpress) and SafeBoda. Emerging players are Moove and ORide (OPay).
Does LAGRIDE have an API?
No public API is recorded for LAGRIDE.
What industry is LAGRIDE in?
LAGRIDE's product category is Ride-Hailing Services. Its primary akta.pro industry code is THADANAG, EV Ride-Hailing / Chauffeur Services (EV-Only Fleets), with a secondary code of THADAOAK, Corporate EV Rental Programs & Charging Coordination. Its NAICS code is 485310 and its SIC code is 4100.