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Sanwo-Olu seals deal to establish vehicle assembly plant in Lagos state


• Governor Unveils New Ride-Hailing Taxi Scheme
• Vehicle Assembly Plant Becomes Operational In 24 Months
Lagos State Governor, Mr. Babajide Sanwo-Olu, has unveiled a new e-hailing taxi scheme to redefine road transportation in the State. The Governor, on Thursday, signed partnership agreement with CIG Motors Company Limited for the take-off of “Lagos Ride” scheme with pilot fleet of 1,000 units of brand new Sport Utility Vehicles (SUVs).
Also at the ceremony held at the State House in Marina, Sanwo-Olu formally sealed a Joint Venture Agreement with the automobile company for the establishment of Vehicle Assembly Plant in the State. In the next 24 months, Lagos will have a jointly-run factory for the production of different classes of brand new cars. ....

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Lagos govt, Chinese firm sign agreement to produce brand new cars


Lagos govt, Chinese firm sign agreement to produce brand new cars
The governor says Lagosians should expect a roll-out of vehicles from the plant within the next 18 months
3 min read
The Lagos State government has formally sealed a Joint Venture Agreement with CIG Motors Limited for the establishment of a vehicle assembly plant in the state.
Establishment of the vehicle assembly plant in Lagos was part of the bilateral agreements reached by the state government and Chinese Investors’ Community when the governor visited the Asian country in November, 2019.
Governor Babajide Sanwo-Olu said the establishment of the plant was in furtherance of his administration’s economic growth blueprint, stressing that the Joint Venture Agreement would revive industrialisation, drive up skilled youth employment, and create wealth, boost tourism, and encourage technology sharing, adaptation, and advancement. ....

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