Bolt introduces a bidding system for drivers and riders in Nigeria

-

 Bolt has implemented a bidding system that allows drivers to negotiate prices with riders to incentivise drivers and increase riders' chances of receiving rides during peak hours.

  • This move is said to reflect inDrive's customer-driver negotiation model as ride-hailing becomes more popular in the country. It also aims to encourage more ride drivers to take up gig work, as pricing has been a common issue for drivers.

According to Femi Adeyemo, Bolt's communication manager, the driver benefits by earning more, and the same standard commission applies to all trips.

Bolt charges a base fee for rides and sets prices using algorithms, which may cause price increases during peak driver demand periods. Aside from Bolt, other ride-hailing companies, such as Uber, follow this model. It has, however, been criticised for potentially exploiting drivers and riders by not allowing drivers to negotiate with riders. 

However, the bidding model allows drivers to negotiate a fair price, but, also faces the challenge of fair and consistent pricing. Bolt entered the Nigerian market before inDrive and has grown in popularity since its launch there. inDrive, which launched in Lagos, Nigeria, in 2019, has also gained traction, expanding to 15 cities in July 2023.

Before implementing this pricing system, which is expected to reduce rider wait time and help drivers earn more, Bolt's driver-partners in Nigeria were also eligible for fuel and insurance discounts and incentives as part of the Bolt Rewards programme, which began in March 2024.

The cost of commodities such as fuel for drivers is one reason they may want to charge a higher fee, which algorithm-based pricing does not permit. The development was intended to assist drivers in managing their fuel costs, which have increased since the removal of fuel subsidies in early 2023.  

Furthermore, the company stated that it has upgraded incentives, including compensation for routes with long pickups, and that it will continue to provide more flexible earning opportunities for driver-partners while also assisting riders in accessing services wherever they are.

In December last year, Bolt Nigeria announced a ₦10,000 fuel subsidy bonus campaign for drivers in Lagos and Abuja. The bonus ran for the rest of the year, beginning on the day of the announcement, to help drivers offset the impact of fuel price increases.

null

Comments

Post a Comment

Message Sent

Popular posts from this blog

Meet the world's hottest transgender - Amiyah Scott

-
Image
Yep, all that used to be male. Her name is Amiyah Scott, but she was born ‘Arthur Scott’ in New York in 1988. She's a transgender model and make-up artist. Arthur started the process of turning into a woman when he was 17. He got breast augmentation, booty shots, light filler in the cheeks etc etc.  by linda ikeji       
Read more

Man shot dead by police officer who tried to jump fuel queue in Lagos; police identifies officer responsible

-
Image
  A police officer has gunned down a Lagos resident who prevented him from jumping the queue to buy fuel at a Nigerian National Petroleum Company Limited (NNPCL) filling station at Obalende in the Ikoyi area of Lagos State.    Toheeb Eniafe was in the queue to get petrol on Wednesday evening, May 1, when two men, said to be police officers, attempted to drive into the station to buy petrol even though they were not in the queue to get the product.  This attempt by the police officers to jump the queue was met with stiff resistance from people in the queue who had been waiting for hours.   Eniafe was at the forefront of the resistance, telling the men to join the queue like everyone else.   This degenerated into a physical fight and one of the men shot Eniafe before fleeing the scene.  An angry mob was said to have chased and caught up with one of the officers but he later escaped after firing shots in the air.  On Thursday, May 2, the Lagos State Police Public Relations Officer, SP Ben
Read more

Father Loses Daughter Over Alleged Access Bank’s Mobile App Failure

-
Image
  In a heartbreaking turn of events, a Nigerian father mourns the loss of his 9-year-old daughter allegedly due to the malfunctioning of the  Access Bank   mobile app. The tragic incident, reported by an individual identified as PIDOMNIGERIA, underscored the devastating consequences of technological failures in critical moments. According to the distraught father, whose identity remained undisclosed, the inability to transfer funds using the Access Bank mobile app directly contributed to his daughter’s demise. The child, who was in urgent need of medical attention, was admitted to an emergency unit at a local hospital. Tragically, she was left unattended as her parent grappled with the financial constraints imposed by the malfunctioning app.The father, described as a single dad working offshore, recounted his harrowing experience, stating, “Failure of Access Bank @myaccessbank app to function since yesterday has caused him to lose his 9-year-old daughter in a medical emergency.” His an
Read more