Bolt has responded to the concerns raised by its drivers in Lagos, clarifying that the company did not implement a 50% fare reduction, as previously reported.
Instead, the company explained that the recent fare adjustments were aimed at creating a more balanced and sustainable marketplace that would benefit both drivers and riders in the long run.
In a statement, Bolt emphasised that the adjustments were made to optimise driver earnings by increasing rider demand, reducing driver downtime, and ensuring overall satisfaction.
“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 optimise driver earnings in the long run. By ensuring a healthy and balanced marketplace, we aim to:
- Increase rider demand: More affordable fares can lead to increased ride requests, which means more earning opportunities for drivers.
- Reduce driver downtime: A balanced marketplace means less time waiting for rides and more time earning.
- Improve driver satisfaction: By creating a sustainable marketplace, we can ensure that driving with Bolt remains a viable and rewarding opportunity.
“We are committed to ensuring that our driver-partners benefit from the Bolt platform,” the company stated.
The response comes after the Lagos chapter of the Amalgamated Union of App-Based Transporters of Nigeria (AUATON) rejected the fare changes, claiming that they greatly reduced drivers’ earnings.
The union has accused Bolt and other ride-hailing companies of implementing price cuts without considering the financial stress on drivers, many of whom are already struggling with the high cost of living.
AUATON’s Lagos Public Relations Officer, Steven Iwindoye, had warned that drivers were reaching a breaking point and hinted at a possible protest if the decision was not reversed.
The union is now mobilising its members to demand better conditions and has called on all drivers to register their dissatisfaction with the company.
While the union insists that only collective action can compel ride-hailing firms to review their pricing strategies, Bolt maintains that its fare adjustments are designed to create a healthier ride-hailing ecosystem that benefits drivers in the long term.
