Electric mobility company, Bolt launches electric tricycle service in Lagos, targets 1,000 tricycles by end of 2025. The launch took place at an event in the state.
According to the company, the introduction is a major move aimed at empowering Nigerian drivers through lower operational costs and more accessible paths to vehicle ownership.
The launch also marks its latest investment in building transport solutions tailored to the realities of African cities, focusing on financial inclusion, income growth, and long-term sustainability for drivers.
The rollout is designed to directly address the economic pressure drivers face amid rising fuel prices and vehicle maintenance costs.
Speaking at the event, Bolt’s Regional Director of Rides Operations, Africa and International Markets, Caroline Wanjihia, said the introduction is geared towards transforming mobility while empowering drivers to reduce their cost of operation.
“This initiative is about transforming how mobility works for the people who power our platform, the drivers. By giving them tools to reduce fuel spending, avoid upfront vehicle costs, and eventually own their tricycles, we’re putting more control and earning potential directly into their hands. Nigeria, with its vast and dynamic population, is key to our strategy of making mobility economically viable and accessible for everyone,” Wanjihia said.
How Bolt’s lease-to-own model will work
Bolt says it is launching the electric tricycle service in conjunction with SGX. This electric mobility company specialises in the design, development, manufacture, sales, and service of last-mile electric vehicles like bikes and tricycles. Essentially, the app company will be deploying SGX electric tricycles.
The service will operate at a lease-to-own model, whereby drivers are given tricycles to operate while paying back a small portion of their incomes for a given period to cover the cost of the vehicle.
Thus, drivers can access brand-new electric tricycles with an upfront payment of 208,000 naira only and own the vehicle outright after 24 months of consistent use. The companies will also charge a 50 per cent commission.
Drivers participating in the program will operate exclusively on the Bolt platform and within SGX-managed fleets. They will be afforded continued access to preferential lease terms based on weekly performance benchmarks.
The new service is also aimed at introducing a lower-cost category for riders, particularly in high-density, lower-income areas where traditional ride-hailing options may be too expensive or unavailable.
Read Also: Kenyan court ruling on unequal pay puts Kenyan startups, SMEs on notice
The app company says its tricycle service is designed for manoeuvrability and affordability, filling a critical mobility gap in parts of Lagos that are underserved by existing transport infrastructure.
Thus, the initiative aligns with its goal to ensure inclusive mobility where access to affordable, reliable transport is not limited by location or income level.
Speaking about this, General Manager of Bolt Nigeria, Osi Oguah, said the launch signifies a major step towards helping drivers earn a good income while granting access to commuters in underserved areas.
“This launch is a major step in addressing two critical challenges in Nigeria’s transport sector – driver income and commuter access. By introducing electric tricycles with flexible, lease-to-own options, we’re helping drivers save money, own their vehicles, and build sustainable livelihoods. At the same time, we’re offering commuters, especially in underserved areas, a more affordable and accessible way to move around their city. We have an ambitious target of having 1,000 electric tricycles by the end of 2025,” he said.
This won’t be Bolt’s first foray into the tricycle business. In January 2020, the company launched a tricycle service in Uyo, the capital of Akwa Ibom state.
Bolt Country Manager at the time, Femi Akin-Laguda, said the tricycle service in Uyo was only the first step in delivering better ride options to users, especially with the company’s focus on bringing renewed effort to solving local problems with globally tested solutions.
“At Bolt, we will continue to find innovative ways to cater to local demand for popular services. We are thrilled to introduce the tricycle service in Uyo.
We believe that it resonates well with the culture in this city and that this category will provide an easy and affordable transportation option for trips around Uyo.”
Comment and follow us on social media for more tips:
- Facebook: Today Africa
- Instagram: Today Africa
- Twitter: Today Africa
- LinkedIn: Today Africa
- YouTube: Today Africa Studio
