Ride-hailing company Bolt has dismissed claims that it implemented a 50 per cent price slash in Lagos, clarifying that recent fare adjustments were made to optimise driver earnings and create a more sustainable marketplace.
The platform responded to concerns raised by its drivers over recent changes in fare pricing, clarifying that it did not implement a 50 per cent price slash but rather made fare adjustments aimed at long-term benefits.
General Manager of Bolt Nigeria, Osi Oguah, explained the rationale behind the fare modifications, emphasising that they were designed to optimise driver earnings and create a sustainable marketplace.
“We understand the drivers’ concerns. However, Bolt did not do a 50 per cent price slash; what we did was fare adjustments in Lagos, which are designed to optimise driver earnings in the long run,” Oguah stated.
According to him, the adjustments are expected to boost ride requests, reduce driver waiting times, and ultimately enhance overall driver satisfaction.
“By ensuring a healthy and balanced marketplace, we aim to increase rider demand, as more affordable fares can lead to increased ride requests, which means more earning opportunities for drivers. It will also reduce driver downtime, as a balanced marketplace means less time waiting for rides and more time earning. Additionally, it will improve driver satisfaction by creating a sustainable marketplace, ensuring that driving with Bolt remains a viable and rewarding opportunity.”
Oguah reaffirmed Bolt’s commitment to its driver-partners, assuring them that the changes were made with their long-term interests in mind.
“We are committed to ensuring that our driver-partners benefit from the Bolt platform,” he added.
Giving further details on this, the Communication Manager of Bolt, Femi Adeyemo, told The PUNCH that the adjustments were necessary following a surge in fares during the holidays.
“There was a surge during the holidays, and now that the holidays are over, if the price is too high, people won’t request so many rides. We are doing this to help drivers get more requests. So, it is not as if it is a 50 per cent slash. There is a strategy behind this,” Adeyemo explained.
Recall that the Amalgamated Union of App-Based Transporters of Nigeria, Lagos State Chapter, recently expressed its dissatisfaction with Bolt’s fare cut in a statement.
The union’s Public Relations Officer, Steven Iwindoye, criticised the reduction, stating that it had severely impacted drivers who were already struggling to make ends meet.
“This drastic reduction in earnings has severe negative impacts on all AUATON members, who are already struggling to make ends meet,” Iwindoye says.
The union warned that if Bolt did not reverse the fare cuts, it would lead to a large-scale protest by drivers in Lagos. Iwindoye stressed the importance of unity among drivers, urging them to stand together regardless of their union affiliation.
“We call on all drivers, regardless of union affiliation, to participate in the upcoming protest, he states.
“We cannot afford to have drivers undermining the effort by continuing to work and accepting the unfair conditions. The protest’s success relies on the unity and solidarity of all drivers.”
The union maintained that without a reversal of the fare cuts, drivers would have no choice but to take action to demand fairer conditions.
