When a popular ride-hailing service debuted in Lagos in 2014, drivers like Kayode Olaniyan were able to earn substantial amounts, sometimes up to ₦300,000 weekly. However, the current landscape tells a different story. The ride-hailing industry has transformed into a survivalist pursuit, with drivers managing multiple platforms to optimize their earnings amidst escalating fuel prices, high platform fees, and ongoing fare reductions.
Companies like Uber, Bolt, inDrive, and Rida are in constant competition over pricing, often at the expense of drivers who bear the brunt of vehicle maintenance and fuel expenses.
To determine which platform offers the best pay, insights were gathered from six ride-hailing drivers who frequently switch between apps.
Bolt emerges as the top choice for driver earnings
According to Collins and other drivers interviewed, Bolt stands out as the preferred platform. While its commission matches Uber’s at 25%, Bolt generally offers higher fares. The disparity in fares between Uber and Bolt, with the former being 26% lower than the latter, accumulates over multiple trips.
Drivers note that Uber has raised its commission to 30% while reducing fares to compete with InDrive, resulting in diminished take-home earnings.
“They don’t own the cars, they don’t maintain them, yet they take so much,” Collins remarked.
InDrive and Rida permit passengers to negotiate fares, placing pressure on drivers to accept unreasonably low prices to sustain their business. Despite InDrive’s lower 10% commission, many drivers perceive it as a race to the bottom.
“You will see someone order a ride for ₦2,000, and when you arrive, they’re cramming four people into the car,” shared Akhigbe, a gig driver. “If each of them took a bike, the total fare would be much higher. Ride-hailing is a luxury service—not everyone needs to afford it.”
Diminishing earnings are exacerbated by escalating fuel prices and vehicle maintenance expenses, accentuating concerns over platform commissions.
The expenses of staying on the road
After completing his 16th trip of the day, Lagos-based Uber driver Tunde calculates his earnings to be ₦36,000. However, after allocating ₦20,000 for fuel and factoring in Uber’s commission, his net income falls short of expectations.
“With Bolt, I can earn between ₦50,000 to ₦60,000 in a day and have more money left,” he stated.
Even with Bolt’s slightly higher fares, many drivers find it challenging to make ends meet. Akhigbe disclosed that in three months, Bolt deducted ₦900,000 in commissions from his earnings—funds he did not have in savings.
“I earned about ₦3 million, but after fuel and maintenance costs, I barely kept anything,” he lamented.
One major expense for drivers is fuel, with some spending ₦180,000 per week on fuel alone, plus an additional ₦30,000 for periodic vehicle servicing.
“They should increase the prices. Is it not better for me to do fewer trips and have a good profit than to run around doing so many cheap trips and be left with nothing?” Akhigbe questioned.
Another driver operating across multiple platforms highlighted that the rising costs of spare parts and oil further diminish profitability, particularly for those leasing their vehicles.
“The car owners keep increasing the weekly payments to make a profit, so drivers end up making even less,” he explained.
Once a top earner with Uber, Olaniyan now drives a Moove-financed vehicle, necessitating a daily payment of ₦9,400 to Moove, in addition to Uber’s 25% commission. After all deductions, his daily take-home pay hovers around ₦15,000.
“If this car were mine, I’d be making a lot more,” he acknowledged.
Uber’s advantage lies in weekend earnings?
For some drivers, Uber still presents the most lucrative opportunities, particularly on weekends.
Adebayo, an Uber driver who also operates a restaurant, exclusively drives on weekends and claims to earn approximately ₦350,000 every weekend from around 35 trips.
“If I didn’t have my restaurant, I