Bolt, the leading ride-hailing provider, offers drivers a fuel subsidy bonus. The ride-hailing company told Reuters this was part of its ongoing support for drivers' earnings. The gasoline subsidy bonus campaign would target Lagos and Abuja drivers.
Since the Bola Tinubu-led federal government eliminated fuel subsidies on May 29, ride-hailing drivers' incomes have plummeted. The company's inaugural ride-hailing campaign would reward drivers N10,000 weekly to help them cope with rising gasoline expenses.
Bolt Nigeria Country Manager Yahaya Mohammed said the campaign is part of the company's long-term commitment to support its driver-partners and help them succeed. He stressed that drivers are the company's backbone, and they want them to flourish and earn more.
The initiative to support our driver-partners is motivated by rising fuel prices. We understand the economy and are always devoted to helping our driver-partners earn more. Bolt prioritizes drivers and doesn't take their dedication for granted in a competitive market. We are pleased that thousands of drivers are taking advantage of this fantastic opportunity and hope many more will complete 50 weekly trips and earn extra.
Read also: Bolt Nigeria to introduce NIN and selfie verification in 2024
More on Bolt's push to subsidize fuel
The goal of Bolt's fuel subsidy programme is to help drivers deal with the higher fuel cost since the subsidy was taken away. Over 6,000 drivers who work in Lagos and Abuja are the target of the programme. Drives will get a fuel subsidy bonus of up to NGN 10,000 weekly during the campaign, which runs through December.
In other words, drivers could get up to N40,000 each in fuel aid bonuses by the end of December. But there's a catch: drivers must have made at least 50 weekly trips to get the bonus. This is the same as making about 7.1 trips every day.
The effort to subsidize fuel is the latest in a long line of steps that the e-hailing giant has taken to help drivers make more money on the platform. In September, the company offered a 10% bonus to drivers who decided to move their cars to economy class.
The ride-hailing company told drivers the decision was required because of poor economic conditions that have reduced platform orders. They blamed the gasoline subsidy loss, fuel price hike, and fare increase.
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Bolt told Reuters that the effort targeted just “top performing drivers”. It stated the effort aimed to improve rider options, driver order volume, and driver earnings.
The company introduced the “Drive for a Prize Challenge” in Nigeria later that month to support its loyal drivers—the driver support campaign rewards top-performing e-hailing drivers with prizes. Mobile phones and new TVs are among these prizes.
Since 2020, Drive for a Prize has awarded drivers up to N50 million.
A gasoline subsidy incentive is a fantastic idea, but why is it only for Lagos and Abuja cars? Nigeria's major e-hailing markets are Lagos and Abuja, although drivers in smaller cities make less money and may need subsidies just as much.
