Bolt has announced that prices for rides would be increasing soon but only for Lagos. This is coming amid speculations and complaints that the prices in December skyrocketed. This may not be attributed to the fuel scarcity experienced currently in the country.
According to Bolt, prices will be “changing in light of the increased operating costs that drivers incur while driving with Bolt.”
Below is the full update:
LAGOS UPDATE (February 13th, 2022):
From February 15th, 2022, ride prices in Lagos will be changing in light of the increased operating costs that drivers incur while driving with Bolt.
You can see the updated prices for the base fare, minimum fare and kilometer and minute fee from the table below.
From cars to tricycles, we aim to be the smartest way to move in all 33 (and counting) cities in Nigeria.
So whether you’re going to the beach in Lagos, heading to a meeting in Abuja or just visiting friends and family in Port Harcourt, get a ride in just a few taps.
How to order a Bolt ride
Requesting a ride with the Bolt app is easy. First, download the app, then follow these steps:
- Open the app;
- Add your ride destination;
- Select your preferred ride-type;
- Confirm your request.
How Bolt fares are set
Now that you know how to order a ride, you might be wondering, “But how are Bolt prices set?”
Bolt trip prices are set using the following parameters:
- Base fare — this is the fare without any other variables included;
- Distance rate — this takes the trip distance into account and is calculated per kilometre;
- Time rate — this includes the time taken and is recorded per minute.
- Minimum fare — this is the lowest fare possible in a city and helps us ensure that the shortest trips remain attractive for drivers.
These fares and rates differ for each city to ensure you have the most affordable way to move around (while giving drivers reliable and profitable earnings).
Estimates and final fares
After adding your pickup point, any intermediate stops, and your final destination, you’ll see a fare estimate for the ride. Please remember that this estimate is based on traffic and timing estimates when the order is made.
This fare estimate isn’t always the same as the final fare because conditions may change. There may be more or less traffic on the road, drivers may use alternative routes, or trips could take longer than estimated — these could all lead to a different final fare.
Dynamic pricing (commonly referred to as surge pricing) is a tool used to adjust rates based on various local factors to maintain balance between available drivers and prospective passengers on the platform.
You’ll see a surge notice in the app when there are too many riders requesting rides compared to the number of drivers available in the area. This price surge is only temporary — it encourages drivers to get on the road so that the increase in ride demand is met.
If your trip isn’t urgent, simply delay your request for a few minutes until more drivers are available.
- Government taxes and levies — these fees are charged by state governments and federal government authorities on every Bolt trip in specific jurisdictions.
- In Lagos, The Road Development Fund levy is NGN 20 on every trip
- Booking fee — booking fees help us manage the increased cost of operations within specific jurisdictions due to operational, regulatory, and taxation requirements:
- In Lagos, the booking fee is 5% of the total ride fare
- In Abuja, the booking fee is 2.5%
- In all other cities, the booking fee is 2.0%
- Paid time waiting — this fee compensates drivers for any time spent waiting for riders after they arrive at the pickup point. The fee comes into action 5 minutes after a driver arrives. To avoid incurring this fee, request a ride only when you’re ready to meet your driver.