Bolt, Nigeria’s largest ride-hailing startup by market share, has rolled out its first fleet of electric tricycles in Lagos, offering drivers a lease-to-own model to cut fuel costs and boost earnings.
The move is part of the company’s broader effort to drive clean, sustainable transport solutions across West Africa.
The company announced on Wednesday at a launch event in Lagos that the electric tricycles were designed and manufactured by SGX Mobility, a Lagos-based technology and mobility firm.
As part of the pilot phase, Bolt will deploy 25 electric tricycles locally known as keke napep in May, with plans to scale up to 1,000 by the end of 2025.
The vehicles will be fully integrated into the Bolt app, giving riders the option to choose electric tricycles for short urban trips.
Bolt’s Regional Director of Rides Operations for Africa and International Markets, Caroline Wanjihia, stated, “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.”
The electric tricycles use a battery swap system instead of traditional charging, allowing drivers to quickly exchange depleted batteries at dedicated stations. One such station is already operational in Surulere, with additional locations planned across Lagos to reduce downtime and keep vehicles on the road.
According to Bolt, the daily cost of battery swapping is approximately N6,500, about half the cost of fuelling a petrol-powered tricycle. Drivers will also benefit from a reduced commission rate of 15 per cent, lower than the 25 per cent typically charged for car rides.
Built for city commuting, the electric tricycles can reach speeds of up to 80 km/h and operate for up to 12 hours on a full battery.
General Manager of Bolt Nigeria, Osi Oguah, described the launch as a significant move toward tackling two pressing issues in the country’s transportation space: low driver earnings and limited commuter access.
“By rolling out electric tricycles with a lease-to-own model, we’re enabling drivers to reduce costs, gain ownership, and secure more stable livelihoods.
“At the same time, we’re creating a more affordable and convenient transport option for commuters, particularly those in areas that have long been underserved. Our goal is to scale up to 1,000 electric tricycles by the end of 2025,” he said.
While the initiative targets fuel cost reduction and improved access, its success will depend on how quickly the battery-swapping infrastructure is expanded and how well drivers adapt to the new system.
Bolt said it would remain flexible in modifying the scheme based on market feedback, with the option to adjust payment terms or redeploy assets as needed.
