Bolt, in partnership with SGX, has launched Nigeria’s first electric tricycles on a ride-hailing platform, beginning a huge shift in how transportation works in densely populated cities like Lagos.
The initiative, which aims to deploy 1,000 electric tricycles by the end of 2025, is focused on reducing fuel costs for drivers, cutting emissions, and providing cheaper transport for urban riders.
At the heart of the new model is a lease-to-own structure, with no upfront payment required. Drivers can now get brand-new electric tricycles, operate them on Bolt, and fully own the vehicle after two years of consistent use.
Asides being more affordable to run, thanks to zero petrol, these tricycles are also designed specifically for Nigerian road conditions, with enhanced suspension and dual battery compartments. One of the two batteries acts as a backup, ensuring drivers keep earning without waiting hours for recharging.
“By giving them tools to reduce fuel spending, avoid upfront vehicle costs, and eventually own their tricycles, we’re putting more control and earning potential directly into their hands. Nigeria, with its vast and dynamic population, is key to our strategy of making mobility economically viable and accessible for everyone,” said Caroline Wanjihia, Bolt’s regional director of Rides Operations for Africa and International Markets.
This is beyond just another tech launch, it’s a targeted solution to two of Nigeria’s most urgent transportation problems—driver poverty and inadequate mobility access in low-income neighbourhoods.
Osi Oguah, general manager of Bolt Nigeria, stressed that, “This launch is a major step in addressing two critical challenges in Nigeria’s transport sector – driver income and commuter access. By introducing electric tricycles with flexible, lease-to-own options, we’re helping drivers save money, own their vehicles, and build sustainable livelihoods. At the same time, we’re offering commuters, especially in underserved areas, a more affordable and accessible way to move around their city. We have an ambitious target of having 1,000 electric tricycles by the end of 2025.”
From SGX’s side, the plan goes even further. It includes a network of battery-swapping hubs to eliminate wait times. Drivers can ride to the nearest station, swap a dead battery for a charged one, and be back on the road in minutes. No loss of income. No long waits. Just business as usual—but greener.
The cost of petrol in Nigeria has risen over 200% since May 2023. Add that to constant vehicle maintenance, and most local drivers barely break even. The electric tricycles change that equation. Lower operating costs mean more savings, and ultimately, more power in the hands of the drivers. We’re not talking about theories here. This model is already running.
SGX also used the opportunity to spotlight the environmental stakes. Transportation contributes 28% of Nigeria’s total greenhouse gas emissions, second only to industrial manufacturing. And of that, tricycles and motorcycles are among the dirtiest polluters. Replacing petrol-powered units with electric ones won’t just reduce costs; it could help slow climate change, too.
Unlike imported solutions that fail to consider local challenges, these tricycles were designed specifically with inclusivity in mind. It’s a solution for tough road suspensions and battery compartments built for urban travel patterns, a system developed with a deep understanding of what works—and what doesn’t—on Nigerian roads.
Essentially, Bolt and SGX have made it clear that this won’t disrupt existing transport unions; the electric tricycles are positioned as a complementary service, not a competitor.
Drivers still operate like traditional tricycle operators, but they pick up rides through Bolt’s app. This keeps the system familiar while adding a digital layer of structure and income stability.
The project also opens up investor opportunities. SGX’s mobility-as-a-service model is built to attract funding, and with financial partners like banks, microfinance companies, and regulators on board, the structure is already backed by strong institutional support.
The vision is to build an inclusive mobility system, reduce emissions, and make owning a vehicle—and a business—possible for thousands of young Nigerians.
Rooted in local needs but aimed at global outcomes.
