By David Akinmola
Ride-hailing platform, Bolt, has reaffirmed its commitment to Nigeria, pledging to deepen its operations and create more opportunities for drivers and riders despite the exit of rival Uber and mounting pressures in the country’s mobility industry.
The assurance came as Uber yesterday discontinued its operations in Nigeria after 12 years, leaving Bolt, inDrive and local operators to compete for riders and drivers in a market increasingly shaped by high fuel and vehicle maintenance costs, inflation, intense price competition and regulatory challenges.
Bolt’s Senior General Manager, West Africa, Teddy Appa-Dankyi, said Nigeria remained an important market for the company, stressing that it had no plans to follow Uber out of the country.
“Nigeria remains an important market for Bolt, and we remain firmly committed to the country. We have built a strong community of riders and driver partners over the years, and our focus is on continuing to serve them while strengthening our operations and creating more opportunities across the market,” he said.
Appa-Dankyi acknowledged the uncertainty created by the development, but said the company was focused on the long term and would continue working with drivers, riders, regulators and other stakeholders to build what he described as a reliable, accessible and sustainable mobility ecosystem.
The development places Bolt in a stronger competitive position following Uber’s withdrawal, but industry observers said the opportunity also comes with significant risks, as the fundamental challenges confronting Nigeria’s ride-hailing market remain unresolved.
Uber, which began operations in Lagos in 2014 before expanding to other Nigerian cities, attributed its departure to a review of its evolving business priorities and investment focus across Africa. The company said the decision was limited to Nigeria and Uganda and would not affect its operations elsewhere on the continent.
Although Uber did not give specific reasons for its withdrawal, analysts and industry players have linked the difficult operating environment to rising fuel and maintenance expenses, currency volatility, inflation and fierce competition over fares and commissions.
The exit has therefore raised fresh questions about the sustainability of app-based transportation businesses in Nigeria, particularly their ability to keep fares affordable for passengers while providing drivers with adequate returns.
The Lagos State Chairman of the Amalgamated Union of App-Based Transporters of Nigeria (AUATON), Jaiyesimi Azeez, said Uber’s departure should be treated as a warning about the sustainability of the country’s digital mobility ecosystem.
According to him, the immediate concern is the livelihood of drivers who have invested heavily in vehicles, fuel, maintenance and technology to operate on e-hailing platforms.
He also
