In a recent article, Tech Cabal highlighted a staggering statistic: over 2,500 locally developed ride-hailing apps have tried and failed to compete in Nigeria’s highly competitive ride-hailing space. Industry insiders point to rising operational costs, regulatory hurdles, and the dominance of well-funded foreign players as major barriers to local success.
Despite these challenges, Bolt has not only survived—but thrived—as a leading player in Nigeria’s ride-hailing industry. With an expanding user base, driver-focused innovations, and a growing suite of services, the company continues to set the pace in a fast-evolving market.
In this exclusive interview, Osi Oguah, General Manager of Bolt Nigeria, shares insights into the company’s strategy, innovations, and long-term commitment to empowering both drivers and riders in Nigeria. He addresses the competitive landscape, how Bolt continues to adapt to local challenges, and why customer-centric innovation remains their biggest advantage.
Excerpts;
There is a recent report that over 2,500 local ride-hailing platforms have failed to compete in the Nigerian market. Why do you think Bolt has been able to succeed where others have not?
Sustained success in a challenging market like Nigeria requires more than just launching an app. Bolt has focused on understanding the local market, adapting to the unique needs of drivers and riders, and continuously innovating across product offerings, pricing models, and operations. Our asset-light model, affordability, and user-centric platform have been key to driving adoption and maintaining loyalty.
What would you say are the key innovations Bolt has introduced that have helped maintain its leadership in Nigeria’s ride-hailing space?
Innovation is core to Bolt’s strategy. We’re continuously developing initiatives designed to address real-world challenges and deliver meaningful solutions. For example, the Bolt Economy category provides affordable ride options for price-sensitive users. We have the Cashless features and in-app safety tools such as the emergency assist button and trip sharing. In terms of driver-focused features, we have flexible earnings withdrawals and performance rewards. We also launched Bolt for Business to serve corporate transport needs.
We don’t just build features, we solve real local problems through innovation.
The article mentions regulatory hurdles and rising operational costs. How does Bolt navigate these challenges in Nigeria?
We understand the regulatory landscape is complex, and we actively engage with government agencies and transport unions to align on fair, scalable solutions. Transparency and collaboration have helped us build trust. We usually have periodic roundtables with stakeholders to rub minds and come up with solutions.
Regarding operational costs, we’ve optimized by streamlining our operations, leveraging tech-enabled efficiencies, and maintaining a lean business model. Our localized approach also helps us scale sustainably.
Critics might say foreign companies like Bolt crowd out local innovation. How do you respond to that?
We believe competition should be healthy and fair, and that any player, local or international can thrive if they solve customer problems effectively. Bolt actively partners with local vendors, contributing to the ecosystem rather than sidelining it.
Moreover, Bolt’s presence has created tens of thousands of driver income opportunities and introduced safety, reliability, and affordability standards that benefit the entire industry.
What role does customer and driver feedback play in shaping Bolt’s strategy?
It’s central. We continuously gather insights from riders and drivers and use them to improve our features, support services, and platform experience. For example, feedback led to enhanced safety tools, flexible earnings withdrawals, and performance incentives for top-rated drivers.
We have had a series of direct engagements with our driver-partners through Safety Summit in different cities, just to have their feedback on how to improve their safety. We’ll also be having a Public Safety Summit with our riders.
Listening and acting on feedback has helped us build trust and loyalty, which are critical in this space.
What’s next for Bolt in Nigeria? Are there expansion or innovation plans in the pipeline?
Absolutely. We’re focused on deepening our presence in existing cities, expanding into underserved regions, and continuing to enhance safety, affordability, and earnings for drivers.
We’re also investing in sustainable mobility solutions, looking at electric mobility pilots, and continuing to innovate around payments and rider experience. Bolt is here for the long haul, and we’re excited about the future.
