The Lagos state government launched the e-hailing service LagRide as one of its initiatives to improve how residents of the state travel. After completing the verification and onboarding procedures, this program offers interested parties the chance to become LagosRide captains. In this article, we’ll walk you through the application process for LagosRide and give you all the information you need to know about the state of Lagos’ smart mobility program.
LagRide Application Procedure
Two major groups are included in the application process to become a LagRide driver. The pre-qualification/verification stage is the first step, and the onboarding stage is the second. In the paragraphs that follow, we’ll go over each of these application procedures in detail.
Pre-qualification/verification is the first step in the application process to become a captain on LagosRide. You must first download the LagosRide Driver app from either the ITunes Store or the Google Play Store depending on the type of smartphone you are using. Enter your information when required after downloading the LagosRide Driver app.
Making a N17,000 non-refundable payment is the next step in order to proceed with the verification process. You’d be given information on how to make the payment within the app. Since individuals that pay right away are given precedence, you would want to make your payment as soon as you can.
The LagosRide scheme will start the verification procedure once you have successfully paid the N17,000 in full.
Below are what can be achieved in this stage:
- LASDRI (Lagos State Drivers Training Institute) ID
- NIN (National Identity Number) verification
- LASRAA ID verification
- Security/Background check
- Driver License verification
- Address verification
- Medical check
You might need to attend some training courses led by LagosRide after completing the verification process.
These training sessions include the following:
- First aid training
- Soft skills training
- Structured training from LASDRI
- LagosRide driver app training
The pre-qualification/verification stage is followed by the onboarding stage in the application process. You will be required to deposit a down payment for one of the brand-new automobiles on the LagosRide platform during this step of the application process. On the LagosRide platform, you have three choices for making a down payment for a vehicle.
The outright payment, which requires a down payment of N700,000, is the first option for making an equity payment. The second equity payment option is third-party finance, which calls for 20% of N700,000 in addition to a loan facility that would be made available to cover the remaining balance.
For individuals who are unable to make the initial down payment for a LagosRide vehicle, there is a third equity payment option. In this scenario, a sponsor or partner would be presented to you and would make the initial payment; however, they would also receive 20% of your daily net income.
You will be given a car and a mobile device once you have paid the deposit for the LagosRide vehicle. In addition to covering the car and phone, the down payment also includes:
- Registration and insurance
- Advance rent payment on dash cam for a month
- First aid kit
- LASG E-Hailing License
At this point, you’re officially a LagosRide captain.
Necessary Things You Must Know About LagRide
- Following a successful onboarding, you will be given a vehicle that will belong to Ibile Holdings of the Lagos state government until you have paid off all of your debt. Your daily fares would be deducted N8950 for the car payback after the initial down payment. This would go on for another two years, following which you might proceed with an outright payment to pay off your remaining debt. After you’ve paid off your obligation, the car’s title and ownership will be given to you.
- The second thing we think is important to know is how the LagosRide platform handles maintenance and insurance. On your behalf, every maintenance and insurance decision would be made. Each travel fee includes 4% for upkeep and insurance. When maintenance schedules appear in the app, you must follow them or else you’ll be penalized. Via the maintenance section of your LagosRide Driver mobile app, you can also request maintenance. The insurance consideration for a LagosRide captain includes comprehensive insurance as well as protection from accident, disability, and/or death.
- Another crucial topic you should be familiar with on LagosRide is debt service. The wallet that was given to you throughout the onboarding process is used everyday to service the required deductions for your car payback. If you don’t have enough money in your wallet, your account will be debited and the value will be deducted as soon as you have enough money.
Now let’s discuss LagosRide’s deductions. LagosRide has two main categories for deductions. These are the specified and required deductions from each fare for debt service.
Find below are the details of the mandatory debt service of LagosRide:
- Asset repayment – N8950
- Mobile phone repayment – N209
- Rent on dash cam – N500
The following are the stipulated deductions from each trip fare that you make with a LagosRide vehicle:
- Tech co – 17%
- Re-fleeting – 1.5%
- Asset co – 1.5%
- Communication – 1%
- Maintenance and insurance – 4%
You’ll discover your total daily net profits in your account at the end of the day after all deductions. But only twice a week, on Mondays and Thursdays, do you get money in your wallet. You are in charge of paying for your car’s fuel out of your earnings.
Is LagRide Driver Permitted To Collect Cash?
You shouldn’t typically take physical payment from passengers who request your ride. But, if the passenger chose cash as their preferred method of payment before calling for a ride, you would take the cash from them and let them know you received it via the app. The rider’s payment equivalent would be immediately taken out of your LagosRide wallet. You cannot, however, accept money from riders into a personal bank account.