Ride-hailing company Bolt, has announced an upward review in the pricing components for its services in Abuja, Nigeria. This was disclosed in an email sent out to customers and partners. These new prices are expected to take effect from Friday, 30th August 2024.
According to the company, the new pricing “is aimed at ensuring that drivers can cater to their operational expenses while remaining affordable to riders”. It went further to state it was done “to remain the most competitive ride-hailing platform for drivers in Nigeria”. Nigerians are currently battling cocktail of rising inflation, currency devaluation and a biting petrol scarcity that has seen the commodity retail at about N1000 for a litre depending on location.
The new price template will see the Minimum/Base Fare go from N1300 to N1495, a 15% rise while Per Kilometer charges will correspondingly adjust from N124 to N152. It further reiterated other incentives and perks offered to drivers and riders. Perks like free insurance protecting both drivers and passengers, low-cost car insurance accessible to drivers via the app, free monthly health insurance reward for top verified drivers and others.
Source: Bolt
Recall that few weeks ago, Bolt adjusted its base fare in Kenya by 10% from Ksh200 to Ksh220 to accommodate the rising cost of living amid protests by its driver partners in that market. We are yet to confirm if this review has taken effect in other locations like Lagos and Ibadan where Bolt also operates.
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