Bolt has introduced a new bidding system in Nigeria that allows drivers to negotiate prices with riders, similar to inDrive’s model, to incentivize drivers and increase ride availability during peak hours.
This move aims to address pricing dissatisfaction among drivers, with Bolt communication manager Femi Adeyemo emphasizing that the approach benefits drivers by enabling them to earn more while maintaining the standard commission rate for all trips.
The new bidding system allows drivers to negotiate a fair price, presenting an opportunity for more equitable earnings. However, it also introduces the challenge of maintaining fair and consistent pricing.
In addition to the new pricing system, Bolt has previously offered various benefits to its driver-partners in Nigeria. These include fuel and insurance discounts and incentives through the Bolt Rewards programme, launched in March 2024. The rising cost of fuel, particularly after the removal of fuel subsidies in early 2023, has been a significant concern for drivers, prompting the need for higher fees, which algorithm-based pricing models do not always accommodate.
Bolt’s recent initiatives aim to support drivers in managing their fuel costs and provide compensation for routes with long pickups. The company is committed to offering flexible earning opportunities for driver-partners while ensuring riders can access services conveniently.
With the introduction of the bidding system, Bolt hopes to reduce rider wait times and enhance driver earnings, addressing the critical issues of fair pricing and driver incentives in Nigeria’s competitive ride-hailing market.
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