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Ride-hailing service, Bolt, has announced that there will be a change in ride prices for customers in Lagos starting from Tuesday, February 15, 2022.
The company cited increased operating cost incurred by drivers on the app as the reason for the price review.
In an in-app notification sent to customers on Monday, February 14, 2022, Bolt stated that the price change would affect base fare, minimum fare and kilometer, and minute fee.
"From February 15th, 2022, ride prices in Lagos will be changing in light of the increased operating costs that drivers incur while driving with Bolt," the email read.
However, Bolt failed to state the specifics of such operating cost.
According to the company, Lagos customers will now be charged the base fare of N280 for Bolt and #300 for Bolt Corporate.
The charges for Bolt and Bolt Corporate riders per hour has now been set at N78 and N80 respectively.
Also, customers will now be paying N13 per minute on Bolt and N15 for Bolt Corporate.
The minimum ride fare on the app is now N600, the notification stated.
Recall that last year September, Bolt introduced an additional 3% booking fee for riders in Nigeria.
It claimed that the fee is in recognition of changes in operating costs.
"This will be used to cover operational costs and allow us to continue improving features to make Bolt the best way to move around," said Bolt.
It also added that the operational costs cover insurance coverage on rides, driver biometric verification, 24/7 support, and free in-app calls and chat functionality.