What you need to know to drive with LagRide

 

1. Interested drivers are required to pay a non-refundable fee of N17,000 to cover verification of LASDRI and LASRAA ID, Medical history and security check, NIN and driver’s licence verification.

2. There will be trainings, which comprises of structured training from LASDRI, soft skills and first aid training, as well as Lagos Ride driver app training.

3. Payment of N1,845,500 initial deposit which covers: 20% equity of cost of vehicle, registration and insurance, advance rent payment on Dashcam, first aid kit, e-taxi licence, and soft skill training.

4. All trip fares are expected to be remitted electronically via the LagosRide platform. Where a rider has indicated a cash trip, the driver will be required to credit the equivalent sum to his wallet for appropriate deduction.

5. There will be daily deductions of N8,709 mandatory debt service and 25% for service fee.

6. Vehicles assigned to drivers remain the property of Ibile Holdings until complete payment of all outstanding obligations. Title and ownership will then be transferred to the driver.

7. Drivers are required to service debt using daily fares for the first two years. Afterwards, they can pay down on the debt and get out of the obligation. No outright payment will be accepted in the first two years.

8. Maintenance and all insurance considerations shall be executed on behalf of the driver. However, the driver shall be responsible for fueling the vehicle.

9. Failure to comply with all maintenance service schedules or calls for maintenance attracts a penalty.

10. Any cost or damage incurred from taking the vehicle to an unauthorized service centre shall be borne by the driver.

11. Drivers can fund their wallets from other sources aside from fares to service their daily debt obligation. Bank transfers to drivers’ personal accounts are prohibited.