Effective from Friday, August 30, 2024, the company said it has increased fares for its Bolt car category in Abuja.

The new pricing reflects increases across several components.

According to the management, the revised pricing for Bolt rides now has the minimum fare raised from ₦1,300 to ₦1,495 while the start fee has been adjusted from ₦737 to ₦884.

The company has also adjusted its cost per kilometre from ₦124 to ₦152 while charge per minute is now ₦25, up from ₦21.

Bolt’s management emphasised that the prices revision is part of a broader strategy to enhance drivers’ overall earning potential.

“This is aimed at ensuring that drivers can cater to their operational expenses while remaining affordable for riders,” the company stated.

The company reiterated its dedication to remaining the most competitive ride-hailing platform for drivers in Nigeria and ensuring that drivers receive adequate compensation for their time and effort.

This development followed repeated requests by Bolt drivers for the company to revisit the prices on the ride-hailing app due to increased cost of living.

This was shared during a roundtable discussion that was held in FCT, Abuja, on Wednesday February 21, 2024.

The event marked the initiation of a series of engagements aimed at fostering stronger relationships, mutual understanding, and identifying areas of collaboration between Bolt and its valued driver-partners

The session offered a valuable platform to delve into and find solutions for the issues facing drivers in the FCT.

The drivers had the opportunity to voice their feedback, share experiences, and co-create strategies that drive positive change within the industry.

Yahaya Mohammed, Country Manager, Bolt said,

“We are excited to be hosting these series of engagements with driver-partners. At Bolt, driver partners are at the heart of our business, and events like these enable us to listen, learn, and evolve together. We believe that by working hand in hand with them and with other key stakeholders, we can create meaningful impact and shape a future where everyone benefits.”

Yahaya further spoke on Bolt’s recent licensing approval in the Federal Capital Territory (FCT) under the Public Transport Management Scheme.

“The FCT Minister’s recognition of Bolt as a licensed ride-hailing operator validates our commitment to regulatory compliance and underscores our continuous dedication to a safe and secure platform for drivers and passengers alike. As a responsible market player, we advocate for a level playing field among operators in the FCT, urging compliance with the PTMS. We beacon the FCT Minister and the Transport Secretariat to enforce against illegal operators.”

As part of its ongoing commitment to driver welfare and empowerment, Bolt remains dedicated to nurturing a culture of collaboration, transparency, and mutual respect.

By fostering stronger relationships with drivers and industry stakeholders, Bolt aims to drive innovation, enhance service quality, and deliver exceptional experiences for both drivers and passengers on its platform.

More about Bolt

Bolt is a super-app with over 150 million customers in more than 45 countries and 500 cities across Europe and Africa (list of locations here).