Business
Exclusive: LAGRIDE Drivers Reject Monthly Salary Model For Drive-to-Own
CIG Motors has replaced the drive-to-own scheme with a salaried model, where drivers earn a fixed monthly salary of ₦150,000.
LagRide drivers are rejecting the new salary model introduced by Choice International Group (CIG), the distributor of GAC motors in Nigeria.
CIG Motors recently took over the full operational control of LagRide from the Lagos State Government, including the management of the vehicles and drivers.
LagRide, a ride-hailing service in Lagos, Nigeria, is owned and operated by a partnership between the Lagos State government and CIG Motors, since 2021, as an alternative to the rickety yellow and black-coloured taxis scattered across the city.
Ohibaba learned that, following the March 2025 full takeover, CIG had replaced the previous drive-to-own scheme with a salaried model for drivers.
Drive-to-Own Scheme:
The previous scheme allowed drivers to lease GAC vehicles through a down payment and daily installments.
Salaried Model:
CIG Motors has replaced the drive-to-own scheme with a salaried model, where drivers earn a fixed monthly salary of ₦150,000.
Some of the drivers who spoke with our Reporter are complaining that the monthly salary model isn’t favourable, and would likely switch to competitors, the likes of Bolt and Uber.
It was further gathered that the new management of LagRide has commenced retraining programmes for the drivers, batch by batch.
Meanwhile, the Lagos State government, led by Governor Babajide Sanwo-Olu, initiated LagRide as a solution to improve mobility and provide a multi-modal transportation system for Lagosians.
Purpose of LagRide:
LagRide aims to provide a more modern and reliable alternative to the traditional, often rickety, taxis that were previously prevalent in Lagos.
Business
OPay launches new office in Jos
” Opening this office in Jos allows us to stay closer to the people we serve, better understand their needs, and continue to provide fast, secure, and reliable financial services that improve everyday life.”
OPay has officially launched its new office in Jos, Plateau State.
Speaking at the event, OPay’s Chief Operations and Technology Officer, Dotun Adekunle, said that the new Jos office reflects OPay’s continued commitment to putting customers first and advancing financial inclusion across Nigeria.
He said :” Our customers are at the center of everything we do.
Opening this office in Jos allows us to stay closer to the people we serve, better understand their needs, and continue to provide fast, secure, and reliable financial services that improve everyday life.”
Business
Governor Otti Commissions Ultimum Manufacturing Plant in Aba
Razzle beverages include Razzl Pamplemousse (a unique and special grapefruit flavour), Razzl Cola, Razzl Orange, and Razzl Lemon.
Ultimum Limited, the manufacturers of Razzl brand of carbonated soft drinks has commissioned its state-of-the-art beverage manufacturing plant in Aba, Abia State.
Razzle beverages include Razzl Pamplemousse (a unique and special grapefruit flavour), Razzl Cola, Razzl Orange, and Razzl Lemon.
Located in the Osisioma Industrial Layout, the new plant was commissioned by the Governor of Abia State, Dr. Alex Chioma Otti.
Otti described the investment as a clear signal of economic revival and growing investor confidence in Abia State.
“This investment confirms that we are creating the right conditions for businesses to grow, thrive, and succeed. Investors will always go where there is clarity, stability, and opportunity.
Our focus has been to build that environment, and today’s commissioning shows that the strategy is working,” he said.
The Chairman of Ultimum Limited and representative of the investor group, Mr. Whalen Kadji, emphasized the company’s long-term commitment to Aba and Nigeria.
“We did not come here by chance. We came because of the energy and entrepreneurial spirit of Aba. This city has always been a center of enterprise, and we believe strongly in its future.
This plant is more than an investment in beverages; it is an investment in people, in jobs, and in the growth of local industry. We are here for the long term, and this is just the beginning of what we intend to build here.”
The Managing Director of Ultimum Limited, Mr. Austin Ufomba, described the plant as a bold step in the company’s journey.
“Ultimum Limited started with a simple idea, to build world-class products right here in Africa,”he said.
Business
Oil price jumps to $106, stocks drop on uncertainty over US-Iran talks
Crude prices rallied more than three percent on Thursday, with Brent crude above $106 per barrel and WTI around $93.
Oil prices jumped and equities slid Thursday as hopes for a peace deal between the US and Iran wavered after Tehran rejected Washington’s bid to wind down the nearly four-week war.
Markets had been buoyed this week by US President Donald Trump’s announcement that strikes targeting Iran’s energy infrastructure would be postponed, adding that the two sides were in peace talks.
But uncertainty over the talks and the virtual closure of the Strait of Hormuz — through which around 20 percent of oil and liquefied natural gas passes — have cast a shadow over market sentiment.
“The market rollercoaster continues,” said Joshua Mahony, chief market analyst at Scope Markets.
Crude prices rallied more than three percent on Thursday, with Brent crude above $106 per barrel and WTI around $93.
( VANGUARD)
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