Bolt sees 92% spike in Nigerian driver registrations after Uber exit

Ride-hailing service Bolt in Nigeria has witnessed a remarkable 92 percent surge in driver registrations following Uber's exit from the market, according to the company's latest figures. This significant rise in interest comes as drivers seek alternative platforms to continue their operations amid mounting competition and rising costs.

Bolt, a Estonia-based startup that has been active in Nigeria since 2016, revealed the surge in a statement to PUNCH Online. The company did not disclose the exact number of registrations before and after Uber's departure, leaving the precise scale of the increase unquantified. Teddy Appa-Dankyi, the Senior General Manager for West Africa at Bolt, expressed optimism about the surge in driver registrations.

He stated that the company would maintain its existing onboarding and safety requirements despite the increased interest from prospective drivers. Fitch Ratings has raised concerns about Nigeria's $5 billion Treasury Retail Securities (TRS), highlighting debt and liquidity risks. Nigeria and Spain have been working to strengthen trade and investment ties.

The rise in registrations from Bolt reflects the confidence of drivers in the platform and the opportunities it provides. However, Appa-Dankyi emphasized that growth should not compromise safety, and all drivers must meet the company's onboarding and safety standards. The development comes at a time when Nigeria's ride-hailing market is adjusting to Uber's departure, with rival platforms, including Bolt, competing for drivers and riders.

The surge in registrations provides an opportunity for Bolt to expand its driver network as demand for alternative ride-hailing platforms rises.