Amid widespread driver backlash following a 50 per cent slash in fares, cab-hailing company, Bolt has reverted to its old pricing. This was confirmed by drivers using the app for their operations.
“I think they (Bolt) have increased the price now,” a driver, Sunday said. “I have been seeing the normal pricing on this app in the meantime. I also did my test, from the Airport to Phase 1, which is 17,500 naira on the app. Comfort is 20,000 naira. So, it is now on the good side. They have fixed it back to the normal price no.”
Another driver identified as Mummy GO expressed the same, stating; “Bolt has increased their fares. I noticed it with the 2 trips I did this afternoon.”
However, many drivers noted that the company did not revert to the old price as they only increased it by some percentage. Public Relations Officer of the Amalgamated Union of App-based Transporters of Nigeria (AUATON), Steven Iwindoye confirmed that the price has been increased but not to what it used to be before last Friday.
“They have increased their pricing by some percentage. They haven’t reverted to the old price but it is still better than a few days ago,” he told Technext.
Other drivers insisted they will continue putting pressure on the company until it effects a full reversal to what it used to be.
Bolt says the price slash was to attract more rides
Leading ride-hailing company in Nigeria, Bolt, implemented a major price slash last Friday. According to drivers who spoke to Technext, they noticed while working last Friday that the fares charged by Bolt had significantly reduced. They said the reduction was to the tune of 50 per cent. One driver who uses a CNG car described the fares as “ridiculous”, even for a CNG-powered operation.
Consequently, they reached out to the company to understand the cause of the new low fares. In response, the company informed them that a group of drivers came to their office demanding a reduction in fares. The company said it was only succumbing to the wishes of those set of drivers.
However, this did not go down well with the drivers who voiced their frustrations. Chairman of the Lagos state chapter of the union, Jaiyesimi Azeez said there is no way any driver would demand a fare slash.
He described Bolt’s position as one of their ploys to control drivers.
“Information reaching us that some set of drivers went to their (Bolt) office. No set of drivers went to their office. That is what Bolt normally does; they create a group to control some set of drivers. They will give some drivers money and bring them together and in the end claim it is the drivers’ decision,” he said.
Another driver, Kanmi, described it as ridiculous, noting that no driver in their right mind would do such a “stupid” thing.
“It is ridiculous. No driver will do such a stupid thing, going to Uber and Bolt’s office and protesting that they should reduce fares. For what?“ he said.
The fare reduction underscores a worrying trend in e-hailing as drivers have continued to lament the lack of requests on the e-hailing apps. According to analysts, this stems from a general decline in the purchasing power of Nigerians occasioned by a continuously rising inflation rate, eroding value of the local currency and a general decline in the Nigerian economy.
These realities have left app companies scrambling for solutions. One solution is to reduce prices so fares are more affordable, leading to more demand. Indeed, the General Manager of Bolt Nigeria, Osi Oguah, admitted this in his response to a Technext query.
While admitting the slash, the General Manager insisted it was not a 50% reduction. He simply described it as a “fare adjustment”. He also added that the adjustment will increase demand on the platform, improve driver satisfaction and reduce downtime.
“We understand the drivers’ concerns. However, Bolt did not do a 50% price slash, what we did was fare adjustments in Lagos which are designed to optimize driver earnings in the long run,” the General Manager said.
More stories about Bolt
Bolt denies plans to exit Nigeria – ‘We are not leaving or reducing our operations’
Bolt reportedly migrates to fixed pricing like inDrive as e-hailing fares soar
Bolt Accelerator Programme: 10 South African drivers to benefit from €20,000 funding
Bolt becomes first e-hailing platform to obtain operating licence in Anambra
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