Ride-hailing platform, Lagride, said some of its drivers are earning as much as N1 million weekly, highlighting the growing economic impact of its Drive-to-Own vehicle financing programme as the company handed over another batch of vehicles to participating drivers.

The vehicle handover, held at the company’s Alausa hub in Lagos yesterday, marked the second graduation phase of the Drive-to-Own initiative, a scheme designed to help drivers transition from operating leased vehicles to becoming vehicle owners through a structured repayment model.

According to Lagride, six drivers, who spoke during the event, attributed significant improvements in income, financial stability and long-term wealth creation to the programme.

The drivers said the initiative has enabled them to generate more predictable earnings while working towards owning the vehicles they operate.

The event attracted government officials, transport sector stakeholders and business partners, including representatives of the Lagos State Vehicle Inspection Service, the Federal Road Safety Corps, the Lagos State Employment Trust Fund (LSETF), First Pension Custodian Nigeria Limited and Avis Nigeria.

Speaking on behalf of Lagride Chairman, Diana Chen, the company’s Executive Director, Mildred Ekanem, said the programme aligns with the firm’s broader objective of using urban mobility as a platform for economic empowerment and asset creation.

She noted that the initiative goes beyond transportation services by providing drivers with a pathway to financial independence and vehicle ownership.

The drive-to-own model combines vehicle access with training, operational standards and performance monitoring, creating what Lagride describes as a sustainable framework for professional drivers seeking long-term ownership opportunities.

As part of efforts to expand its driver network, the company is also promoting a referral campaign that offers N20,000 for every successful driver referral that joins the platform and meets programme requirements.

Lagride’s Public Relations Director, Ifeanyi Abraham, said the company remains focused on maintaining safety standards, operational discipline and customer trust as it scales the programme.

According to him, the ownership model encourages drivers to take greater responsibility for vehicle maintenance and service quality because they are working towards acquiring the assets outright.

The latest vehicle handover underscores the increasing role of mobility platforms in creating employment opportunities and supporting asset ownership in Nigeria’s urban transport sector, as operators seek to combine technology-driven transportation services with financial inclusion initiatives.