Ride-hailing giant Bolt has adjusted its fares after widespread criticism from drivers who protested a sharp drop in ride prices. Many operators using the platform reported that fares were cut by nearly 50%, sparking frustration across the industry.
One driver, Sunday, noted the change, stating, “I think they (Bolt) have increased the price now. I tested a trip from the Airport to Phase 1, and it’s back to 17,500 naira, with Comfort at 20,000 naira. So, it seems they have fixed it.” Another driver, Mummy GO, confirmed the hike, saying, “I noticed it with the two trips I did this afternoon.”
However, not all drivers were satisfied. Steven Iwindoye, Public Relations Officer of the Amalgamated Union of App-based Transporters of Nigeria (AUATON), acknowledged the price increase but clarified that it was not a full return to previous fares. “They have increased their pricing by some percentage. They haven’t reverted to the old price, but it’s better than a few days ago,” he explained.
Controversy Surrounds Bolt’s Fare Adjustment
Bolt’s initial fare slash, which took effect last Friday, came as a surprise to many drivers. According to reports, the company claimed it was responding to demands from a group of drivers requesting lower fares to attract more customers. However, this explanation was met with scepticism.
Lagos State Union Chairman Jaiyesimi Azeez dismissed the claim outright, stating, “No set of drivers went to their office. Bolt creates groups to control drivers, offering money to some and presenting it as a collective decision.”river Kanmi shared similar doubts, calling the situation “ridiculous”. He questioned, “Why would any driver in their right mind ask for fares to be reduced? It makes no sense.”
The Bigger Picture in Nigeria’s Ride-Hailing Industry
Bolt’s fare adjustments highlight ongoing challenges in Nigeria’s e-hailing market. Economic difficulties, rising inflation, and the depreciation of the local currency have weakened consumer spending, leading ride-hailing companies to seek new ways to boost demand.
Bolt Nigeria’s General Manager, Osi Oguah, defended the fare revision, refuting claims of a 50% cut. He described it as a “fare adjustment” aimed at improving driver earnings over time. “We understand the drivers’ concerns. However, Bolt did not do a 50% price slash. The adjustments in Lagos were designed to optimise driver earnings in the long run,” he said.
Despite the partial price correction, drivers remain determined to push for a full reversal, signalling an ongoing standoff between Bolt and its operators.
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