One of Nigeria’s leading ride-hailing platforms, Bolt, has implemented a significant upward review of its pricing structure for riders in the Federal Capital Territory (FCT), Abuja. The new pricing model came into effect on Friday, August 30, 2024, and introduces adjustments across several fare components to reflect changing operational dynamics.
The company announced that the price hike applies to its Bolt car category in Abuja. The revision raises the minimum fare from ₦1,300 to ₦1,495, while the start fee has been increased from ₦737 to ₦884. In addition, the cost per kilometre has been raised from ₦124 to ₦152, and the charge per minute has gone up from ₦21 to ₦25.
Bolt’s management explained that the adjustments are part of a broader strategy aimed at improving drivers’ earning potential while ensuring the service remains affordable for riders. The company highlighted that the price increase is essential to help drivers cover rising operational costs, which include vehicle maintenance, fuel prices, and general living expenses.
In a statement released by the company, Bolt emphasized that this move is designed to strike a balance between maintaining a sustainable service for drivers and providing a cost-effective ride-hailing solution for commuters.
“The pricing revision is aimed at ensuring that drivers can cater to their operational expenses while remaining affordable for riders,” the company said.
