The Lagos LagRide Scheme is currently embroiled in an ongoing controversy following the decision of Ibile Holding Company, an investment arm of the Lagos State Government, to withdraw vehicles from it’s investing partners who legally leased the vehicles from the Lagos State government on a four year repayment plan.
This is even as the Investment partners have threatened legal action if Ibile Holding Company does not return the seized vehicles to them.
Recall that Mr. Tobi Lawal, the new Managing Director of ibile Holding Company, had last Monday, forcefully took over about 21 numbers of LagRide vehicles from some investment partners in the Ajah area of Lagos.
Speaking to newsmen on Thursday in Lagos over the forceful takeover of the vehicles by Ibile Holding Company, the National President of Professional E-Hailing Drivers and Private Owners Association, (PEDPA), Comrade Idris Shonuga said he had been asked by the MD of Ibile Holding Company, Mr. Tobi Lawal to return all the vehicles acquired through him by investors for the purpose of handing them over to new drivers who will assume ownership of the vehicles despite the fact that the investors had already invested over a N1million each in the scheme.
According to Comrade Shonuga, “The creation of the LagRide Scheme by the Lagos State Government was to correct some of the anomalies experienced by Uber and Bolt drivers who were heavily manipulated by the foreign companies operating them without subjection to our labour regulations, leading to so many agitations by the drivers who wanted better operating deal. This prompted the listening government of Governor Babajide Sanwo-Olu to crystalize the LagRide scheme.
“However when drivers who were supposed to be the original beneficiaries of the scheme could not come up with the 5 percent equity of N1.8million (which amounted to N90,000) demanded by Polaris Bank as equity payment for the credit facilities to aid Drivers in accessing the ride, we had to bring in investors who are referred to as partners to make the payments for the acquisition of the vehicles and afterwards sub-let to drivers, making the scheme to eventually take off after six months of delay.
“By the introduction of the investor arrangement, the LagRide scheme therefore involved three parties namely; the drivers, the investors and the App management company. “This arrangement is obtainable as the operational standard since the take-off of the scheme, while the State government is benefitting from the regular tax payments from the daily operations of the vehicles.
“I am therefore dismayed and shocked to hear the Managing Director of Ibile Holding Company, Mr. Tobi Lawal asking me to order all the investors to return the vehicles for him to re-allot them to drivers directly and for him to eliminate the investor group from the arrangement. I however made him see the impossibility of that action and the massive legal actions that it will throw up.
“Only a fraction of the drivers came up with the equity payment at inception even when it was reduced to N700,000. Very many of them could not afford it and for six months, we could barely have 300 drivers who could come up with the equivalent of N140,000 equity payment.
“It was the investors who came to the rescue, bringing in the necessary equity for the vehicles to be acquired from the government with many steps taken by our Association to fine-tune the process before the scheme took-off and have being operating seamlessly since then; untill this looming policy summersault introduced by Mr. Lawal which may portend the end of the scheme.”
Comrade Shonuga further added that all the partners have officially signed letters that engages them as partners who brought the needed equity contributions to acquire the vehicles before passing them over to drivers to ride and earn daily income.
“Each of the drivers earn four times higher than the partners on the average. Equally, before any of the drivers are engaged, they are interviewed by Ibile Holding Company and certified. Even the medical tests needed to certify the medical fitness of the drivers are done by Ibile Holding Company.
“The use of fleet Management has nothing to do with Ibile Holding Company, because its role is purely to the investors to manage their vehicles, ensuring their vehicles are well maintained. Drivers are made to adhere to rules of engagement and of course ensuring that adequate returns on investment is guaranteed which my company, IOS Fleet Management Company offers to these partners,” Comrade Shonuga stated.
He averred that he has never in any private discussion or in any publication criticised the government’s LagRide project, rather he has being advocating support for the programme since it was designed to rescue E-Hailing Drivers whom he represents from the shylock grip of Uber and Bolt companies.
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