Bolt has launched its electric tricycles in a major move aimed at empowering Nigerian drivers through lower operational costs and a more accessible path to vehicle ownership.

The launch marks Bolt’s 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.

Bolt’s EV tricycle rollout is designed to directly address the economic pressure drivers face amid rising fuel prices and vehicle maintenance costs.
Through a ‘lease-to-own’ model, in partnership with SGX, drivers can access brand-new electric tricycles with no upfront payment and own the vehicle outright after 24 months of consistent use.

Drivers participating in the programme will operate exclusively on the Bolt platform and within SGX-managed fleets, with continued access to preferential lease terms based on weekly performance benchmarks.

The new electric tricycles also introduce a lower-cost category for riders, particularly in high-density, lower-income areas where traditional ride-hailing options may be too expensive or unavailable.

Speaking at the launch, Bolt’s Regional Director of Rides Operations, Africa and International Markets, Caroline Wanjihia, said the initiative is about transforming how mobility works for the people who power the platform, the drivers, by giving them tools to reduce fuel spending, avoid upfront vehicle costs, and eventually own their tricycles.

“We are 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,” she said.

General Manager, Bolt Nigeria, Osi Oguah, said the 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, he said the company is helping drivers save money, own their vehicles, and build sustainable livelihoods.

He added: “At the same time, we offer 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.”

Designed for manoeuvrability and affordability, the tricycles fill a critical mobility gap in parts of Lagos that are underserved by existing transport infrastructure.

The initiative aligns with Bolt’s goal to ensure inclusive mobility where access to affordable, reliable transport is not limited by location or income level.