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UBA Partners CIG Motors, Lagride, Launches $100 Million “Drive to Own” Vehicle Financing Scheme [PHOTOS]

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In a landmark move set to redefine urban mobility and promote financial inclusion in Nigeria, United Bank for Africa (UBA) Plc, has announced a $100 million financing partnership scheme with CIG Motors, Lagride, and Lagos State Government.

By the partnership, tagged “Drive to Own”, UBA will be the key financier, offering loan subscriptions that will allow beneficiaries to own a CIG/Lagride vehicle by contributing an equity payment of just 10% of the total vehicle cost, with the remaining amount payable over a period of 48 months.

The scheme, which was unveiled during a ceremony in Alausa, Lagos, on Wednesday, is aimed at empowering 3,500 drivers in the state with transformative asset ownership opportunities, thus setting a new benchmark for structured credit in Africa’s mobility sector.

UBA’s Group Managing Director/CEO, Oliver Alawuba, who delivered the keynote remarks at the event, highlighted the bank’s visionary commitment to inclusive economic growth, fostering MSME development, and creating tangible opportunities for the younger generation. He said, “This partnership with Lagride is transformational. It will drive inclusivity for economic growth and ensure progress for everyone. We are committed to helping you, and please believe me, this is just the beginning.”

He took the opportunity to share a deeply personal testament about the power of opportunity: “My father started as a driver. I went to school thanks to that income… That will be the story of some of you, and even better,” he said.

Alawuba also emphasised UBA’s focus on solving immediate, on-the-ground challenges, adding, “I am personally looking at the immediate problems we have right here in Lagos as we will be connecting the initiative to broader urban development. Lagos will change because of us. And we will not stop in Lagos; we will move beyond.”

Echoing the GMD’s vision, UBA’s Head, SME Banking, Babatunde Ajayi, noted that this partnership is built on a fundamental rethinking of traditional banking models.

“Not every business has a shop. Some businesses have wheels. Every commercial driver is running a business, yet they have remained outside formal finance. We did not ask if they fit our old structures; we designed credit that fits their reality, and that is the way we work at UBA,” Ajayi added.

The Chairman, Lagride, Diana Chen, who noted that the company has built a data-driven and credit-ready mobility platform for drivers, stressed that transportation is the backbone of Africa’s economic future.

“Lagride now stands as the most structured, data-driven, and credit-ready mobility platform in Nigeria,” Chen said. “This data enables UBA to evaluate driver performance with accuracy and confidence, creating a new standard for bankable driver financing,” he said.

The partnership strategically aligns the strengths of the three organizations, with UBA providing the financial backbone, CIG acting as a trusted provider of viable business opportunities, and Lagride offering a technology-driven platform that guarantees a sustainable and dignified livelihood for its driver-partners.

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Five US Military Aircraft, First Batch Of US Troops Arrive Nigeria

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Five US military aircraft and the first batch of United States troops arrived in north-east Nigeria ahead of a joint offensive against ISWAP terrorists in the region.

The New York Times reports that a US military aircraft touched down in Maiduguri, the Borno state capital, on Thursday night.

By Friday evening, three aircraft were visible at the base, with equipment being offloaded from at least one of them.

According to Brant Philip, a counter-terrorism researcher and expert, the military aircraft touched down in air force bases across Nigeria’s northern region over the past few days.

On Tuesday, Reuters reported that the United States would send 200 troops to Nigeria to train the country’s military, as the West African nation battles insurgents across swathes of its territory.

A US official said the troops would supplement a handful of United States military personnel already on the ground in Nigeria.

The deployment follows an increased security partnership between both nations since US President Donald Trump redesignated Nigeria as a “country of particular concern” over Christian genocide claims.

In a post on X, Philip shared that in furtherance of the security deal, six US Air Force cargo planes were deployed in West Africa over the past week.

Philip said one aircraft stopped in Ghana, with five proceeding to Nigeria.

He said a sixth aircraft arrived in Nigeria on Saturday and will likely follow the route towards the north-east.

Philip noted that one of the US planes, 1x C-17A, was deployed in the Kainji Airbase, while two others, 3x C-17A and 1x C-130J-30, flew to Maiduguri Airbase in Borno.

He said all of them left their respective bases on the same day they landed.

“Maiduguri Airbase will likely be the primary base of operations for supporting the Nigerian army against ISWAP,” the analyst said.

According to him, the Borno state capital is a critical location because the IS affiliate currently controls most of the rural areas in the state.

He said parts of the deliveries may include at least one or more MQ-9 Reaper drones, attack helicopters, and a large number of US troops.

 

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AU Agenda 2063 Nominates Amb. Daniel Koussou as African Union Special Envoy on Oil and Gas

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The African Union’s Agenda 2063, a distinguished body of Ambassadors committed to advancing the socio-economic transformation of the continent over the next 50 years, has nominated one of his ambassadors, Daniel Koussou, as African Union Special Envoy on Oil and Gas (Continental).

Based on the objectives of The Agenda 2063 the AU’s 50-year framework for structural transformation, sustainable development, and economic integration, Koussou’s high-level advocacy role for oil and gas will focus on ensuring that Africa’s hydrocarbon resources contribute to continental prosperity, industrialization, and energy security.

Additionally, the CEO and Founder of Dau-O-Gik Oil and Gas, will represent the AU in international forums to ensure Africa’s developmental needs are not sidelined in global decarbonization debates.

Koussou’s Dau-O Gik Oil and Gas Ltd operates across the upstream and downstream segments of the oil and gas industry, focusing on energy trading, supply, and operational support.

Navigating economic challenges such as market volatility, regulatory changes, and foreign exchange constraints has required prudent risk management, operational efficiency, diversification, and strong stakeholder relationships, and maintaining discipline in cost control, compliance, and strategic decision-making, the business has remained resilient and adaptive.

At the heart of The Agenda 2063 is the vision of an integrated, prosperous, and peaceful Africa, driven by its own citizens and representing a dynamic force in the global arena.

Gentleman par excellence, Koussou, by his track record, embodies the values and aspirations of The Agenda 2063. His nomination therefore is timely and crucial in transforming the vision of The Agenda 2063 into a reality, ensuring that Africa’s future is one of sustainable growth, shared prosperity, and lasting peace.

A distinguished diplomat and global leader, Ambassador Daniel Koussou was recently appointed as one of the key experts leading these discussions by BIGWIL International Community of CEOs and Diplomatic Forum, under the aegis of the International Human Rights Observatory – Africa (IHRO-Africa) tasked to chair the Committee on Economic Diplomacy, Trade, and Investment for the forum’s Nigeria chapter.

Dealing with challenges, Koussou adopts a structured and analytical approach, assessing risks, consulting relevant experts, and implementing practical, data-driven solutions. He prioritizes transparency, timely decision-making, and adaptability, ensuring that both personal and business challenges are addressed with clarity, resilience, and long-term sustainability in mind.

Koussou’s leadership and vision, notably, are set to inspire meaningful dialogues about Nigeria’s economic potential and its vital role in international relations.

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Family Demands Access To Anthony Joshua After Fatal Crash, FRSC Awaits Probe Report

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The family of world heavyweight champion, Anthony Joshua, has expressed deep concern over their inability to see the boxer following a tragic road accident on Monday along the Lagos–Ibadan Expressway.

Speaking to journalists at the Sagamu family home in Ijokun on Tuesday, the boxer’s uncle, Adedamola Joshua, described the news as a “rude shock” to the family.

He revealed that the family only learned of the accident after multiple calls from friends and well-wishers.

“Sincerely, the news that our son, Anthony Joshua, was involved in a fatal crash came to us as a rude shock,” he said. “We did not get to hear this terrible news on time until calls started coming in from people seeking confirmation. Anthony comes home three or four times a year, especially during the festive season, and it is usually a time to rejoice with family. This was completely unexpected.”

The uncle added that while the family has been in touch with Anthony Joshua’s parents—who are also in Nigeria—they have not been allowed to visit him at the undisclosed medical facility where he is receiving treatment.

“We are all eager to see him, even if only three of us are allowed, but we understand the need to protect him given his global status,” he said.

The crash claimed the lives of two of Joshua’s close friends and team members: Ayodele Kelvin Olu, 36, a Nigerian-British citizen, and Gami Sina, 36, a British citizen.

Joshua’s uncle expressed sorrow for their deaths, offering prayers for the bereaved families.

“We are really sad that two people who were very close to Joshua did not survive. Our hearts are with their families and associates. We pray that the Lord gives them strength to bear this painful loss,” he said.

Meanwhile, the Federal Road Safety Corps said on Tuesday it was awaiting the outcome of a full technical investigation into the crash.

Preliminary assessments suggest excessive speed as a major factor.

FRSC spokesperson, Olusegun Ogungbemide, said the accident occurred around 12 noon near the Sinoma axis of Sagamu and involved a black Lexus SUV, registered KRD 850 HN, colliding with a stationary truck.

“When you look at the impact of that crash, it is clear that the vehicle was likely exceeding the speed limit,” Ogungbemide said. “Although there was no speed-measuring device at the exact point of impact, trained officers can infer likely speed from the damage and force involved. Only a full technical investigation will determine the exact cause.”

“Emergency teams responded within three minutes,” Ogungbemide noted.

Political leaders and community groups have also reacted to the tragedy.

Ogun State 2023 PDP governorship candidate, Oladipupo Adebutu, described the incident as a “painful and sobering tragedy” that has cast a shadow over the season.

“Anthony Joshua remains a symbol of courage, discipline, resilience, and national pride. My thoughts and prayers are with him, the bereaved families, and all affected by this unfortunate incident,” Adebutu said.

Similarly, Sagamu Youth Association expressed profound sadness, offering prayers for Joshua’s swift recovery and for the families of the deceased.

“Our hearts go out to the families, friends, and loved ones of the departed during this moment of immeasurable grief,” said the association’s Public Relations Officer, Olakunle Popoola.

Following the crash, the Deputy Head of Mission of the British High Commission, Simon Field, visited Joshua at the Lagos hospital, while Ogun State Governor Dapo Abiodun and Lagos State Governor Babajide Sanwo-Olu also monitored his condition.

President Bola Tinubu was briefed on the incident and spoke separately with Joshua and his mother to convey condolences.

As the family awaits permission to see the boxer, Nigerians continue to pray for Anthony Joshua’s recovery and for the swift conclusion of the FRSC’s investigation into the crash that has shocked both the local community and the sporting world.

 

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