Bolt launches Electric Tricycle Service in Lagos to Help Drivers and Commuters

Lagos, Nigeria – Bolt, a well-known electric mobility company, has started a new electric tricycle service in Lagos. The service was officially launched at an event in the state. The company says this is an important step to support Nigerian drivers by reducing their operating costs and making it easier for them to own vehicles.

This new service is part of Bolt’s plan to create transportation solutions that work well in African cities. The company wants to help drivers earn more money, improve their financial stability, and make transportation more sustainable in the long term.

With fuel prices and vehicle maintenance costs rising, many drivers are struggling financially. Bolt’s electric tricycles are meant to ease these pressures by offering a cheaper and more efficient way to work.

Bolt Aims for 1,000 Electric Tricycles by End of 2025

Caroline Wanjihia, Bolt’s Regional Director of Rides Operations for Africa and International Markets, explained that this new service will change how drivers operate. It will help them spend less on fuel, avoid high vehicle costs, and eventually own their own tricycles.

“This initiative is about helping the drivers who work with us,” Wanjihia said. “By reducing their fuel expenses and giving them a way to own their vehicles, we are helping them earn more money. Nigeria is very important to our plan of making transportation affordable and accessible for everyone.”

How the Lease-to-Own Model Works

Bolt is working with SGX, a company that makes electric bikes and tricycles, to provide the vehicles for this service. The tricycles will be given to drivers under a lease-to-own model. This means drivers can use the tricycles while paying a small part of their earnings over time until they fully own the vehicle.

Here’s how it works:

• Drivers will make an initial payment of ₦208,000.

• They will then use the tricycle for 24 months while making regular payments.

• After this period, they will own the tricycle completely.

• Bolt and SGX will take a 50% commission from the drivers’ earnings during this time.

Drivers in this program will only work on Bolt’s platform and will be part of SGX-managed fleets. If they meet weekly performance targets, they can continue to enjoy good lease terms.

Affordable Rides for More People

The new electric tricycles are designed to be affordable and easy to move around in traffic. This is especially helpful in busy, low-income areas where regular ride-hailing services may be too expensive or unavailable.

Bolt’s goal is to make transportation more inclusive so that people in all parts of Lagos can find reliable and cheap ways to travel.

Osi Oguah, Bolt’s General Manager in Nigeria, said this launch is a big step in solving two major problems in Nigeria’s transport sector: helping drivers earn more and providing better transport options in underserved areas.

“With this electric tricycle service, drivers can save money, own their vehicles, and build a stable income,” Oguah said. “At the same time, people in areas with few transport options will now have a cheaper and more convenient way to move around. We plan to have 1,000 electric tricycles in Lagos by the end of 2025.”

Not Bolt’s First Tricycle Service

This is not the first time Bolt has introduced tricycles as a transport option. In January 2020, the company launched a tricycle service in Uyo, Akwa Ibom State. At that time, Femi Akin-Laguda, Bolt’s Country Manager, said the service was part of the company’s effort to solve local transportation problems with proven solutions.

“We will keep finding new ways to meet the demand for affordable transport,” Akin-Laguda had said. “The tricycle service in Uyo fits well with the city’s needs, and we believe it will provide a simple and low-cost way for people to get around.”

Now, with the launch in Lagos, Bolt is expanding its efforts to make transportation easier, cheaper, and more sustainable for both drivers and passengers.