Leading on-demand e-mobility company, Bolt, has announced a 15 per cent increase in base fares across all its ride categories. This was disclosed in a statement by the company and seen by Technext.
The app company said the decision to increase its rates reflects an ongoing dedication to providing fair compensation and enhancing working conditions for its driver-partners, which are at the core of their business.
Speaking on the increase, Bolt’s Regional Manager for North and West Africa, Lola Masha, said the increase was not only a price change but a step to acknowledge the value of its drivers.
“Today we have announced a 15% fare increase on our platform as we recognise the essential role our drivers play in delivering exceptional service to our customers. This fare adjustment is not just a price change but also a step towards acknowledging the value our drivers bring to the platform every day. We believe that this move will help our drivers earn a fair wage, which in turn will allow them to continue providing the reliable and safe transportation our riders depend on,” Lola said.
The company also said the increase is a product of an extensive dialogue with its driver community and industry regulator in recent months. The dialogue was meant to understand their challenges, especially in light of rising operational costs.
According to Bolt, the feedback highlights the need for a fare adjustment to help drivers maintain sustainable earnings while providing safe, reliable and quality service to riders across Nigeria.
In light of this, all rides booked through the Bolt platform will now reflect a 15 per cent increase in the base fare. The company expects the development to directly impact driver earnings and provide them with better returns for each trip completed.
The e-hailing giant also believes the additional income will incentivise drivers to maintain the high standards of service to riders on the platform.
Bolt’s fare increased in light of the current fuel scarcity
Bolt’s 15 per cent increase is coming amid a perilous fuel scarcity in the country. A crunching fuel scarcity that lasted weeks was followed by yet another increase in the price of the commodity. From about 620 naira, fuel prices soared to about 890 naira, representing an outstanding 45 per cent increase.
To this end, drivers have resorted to putting off their air conditioning during rides and negotiating fares outside the app rates to make ends meet. The drivers who spoke to Technext said this is imperative given the prevailing fuel scarcity situation and the recent increase in the price of petrol across the country.
A driver, Oyebode said over the past weeks he has been driving without putting on the air conditioning to save petrol.
“Codedly, I have in the last two to three weeks been operating without air conditioning. Yes, the majority of the riders understand and cooperate, while some don’t. In the next 2 – 3 days, I am hoping the picture will be clearer,” he told Technext.
Another driver, Ajibola Vincent noted that some drivers are already adjusting their prices to be able to meet up.
Bolt’s increase also comes at a time when the cost of living in Nigeria has been on the rise, impacting drivers and riders alike.
However, the company said it remains committed to balancing the needs of its driver-partners while ensuring affordability and accessibility for its riders. It also said it will continue to monitor the economic landscape and engage with all stakeholders to make any necessary adjustments in the future.
“As a business, Bolt consistently works towards enabling its driver partner’s entrepreneurial journey through its platform. The company remains focused on the overall driver and rider experience and will continue to provide its driver partners with both online and in-person support to facilitate their success,” the company said.
See also: Abuja e-hailing drivers snub Uber/Bolt, set new N450 per kilometre rate for rides
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