Bolt’s recent fare adjustment has been met with resistance from Nigerian drivers, who argue that the decision is affecting their earnings due to reduced patronage. Passengers are also expressing concerns about the affordability of e-hailing services in the country.
Bolt provides an e-hailing platform that offers users a convenient alternative to traditional taxis, utilizing mobile apps to connect passengers with drivers, providing features like real-time tracking, fare estimates, and cashless payments.
The e-hailing industry in Nigeria has seen significant growth over the years, with various operators entering the market to capitalize on the country’s inadequate public transport system and rapid urbanization. Platforms like Uber, Jekalo, Afrocab, Gomyway, Holy Cab, Palmdrive, GIG Mobility, Oga Taxi, and Bolt have all made their mark in major cities like Lagos, Abuja, and more.
Following a recent petrol price increase by the Nigerian National Petroleum Corporation Limited, Bolt announced a fare hike starting from August 30, 2024, in Abuja, with considerations for a similar adjustment in Lagos due to the surge in fuel costs.
The fare adjustments in Abuja include increases in the minimum fare, start fee, cost per kilometer, and charge per minute, aimed at enhancing drivers’ earnings while remaining affordable for riders, according to Bolt’s management.
Some Bolt drivers have expressed concerns about the fare increase, emphasizing the financial strain it puts on them despite the company’s efforts to improve their earning potential. Passengers, on the other hand, are finding it challenging to cope with the higher prices, which are adding to their financial burden.
While drivers acknowledge the need for fair compensation, passengers are calling for a balanced approach that benefits both parties without overburdening users. Bolt’s Communication Manager explained that the fare adjustments are necessary to help drivers maintain profitability amidst rising fuel costs and economic challenges.
Despite the mixed reactions to the fare review, Bolt has maintained its commission rates, focusing on ensuring drivers can cover their expenses and sustain their operations in the evolving economic landscape.