Lagride, a ride-hailing company has deployed a new batch of 17 brand-new vehicles under its Drive To Own(DTO) programme.
The deployment forms part of a broader expansion plan backed by a $100 million facility from United Bank for Africa (UBA), with Lagride targeting the rollout of 3,500 vehicles as the programme scales.
The Drive To Own Programme marks a major step in its ambition to expand access to vehicle ownership for professional drivers while improving service standards across Lagos.
Drive To Own is a performance-led initiative that enables drivers, known as captains, to transition from rentals to ownership by consistently meeting measurable benchmarks. These include service quality, safety, compliance, ride completion rates, customer feedback, and operational discipline on the platform.
Read also: FULL LIST: 15 Senators who voted for mandatory real-time transmission of election results
While speaking at the deployment event, Mildred Ekanem, executive director of Lagride, said the programme reflects the company’s commitment to sustainable livelihoods and higher service standards.
“Drive To Own is built on structure and measurable performance,” Ekanem said. “This deployment shows that when captains commit to clear standards, the platform commits to them in return. With UBA as a key partner, we are building a credible ownership engine that strengthens service quality and expands opportunity over time.”
She added that Lagride’s rental framework provides the performance data and accountability required to attract large-scale financing. According to her, the disciplined operating model created the trust needed for the programme to be backed with confidence.
UBA described the partnership as an example of how enterprise finance can enable asset ownership through transparent and trackable performance.
Babatunde Ajayi, head of business banking at UBA, said the bank was confident in the structure underpinning the programme.
“The $100m facility reflects our belief in a model that combines performance data, governance, and a clear pathway to asset ownership,” Ajayi said. “This is what modern African banking should look like, which is practical, inclusive, and responsible.”
The ‘Drive To Own’ partnership was formally launched in December by Diana Chen, chairman of Lagride, alongside Oliver Alawuba, group managing director and CEO of UBA, and has begun delivering tangible results with the latest vehicle rollout.
For beneficiaries, the programme represents more than just access to a car as Aminu Ganna, a captain in Lagride described it as a turning point for drivers committed to building stable futures through the platform, noting that the scheme offers ‘a clear path from daily work to long-term ownership.’
Lagride stated that Drive To Own will remain strictly performance-driven, with continued eligibility tied to professionalism, safety, vehicle care, and reliability, as the company pushes ahead with its expansion plans across Lagos.
