Bolt introduces electric tricycles, lower operational cost in Lagos.

Poised to empowering Nigerian drivers through lower operational costs and more accessible paths to vehicle ownership, Bolt has announced the introduction of Electric Tricycles in Lagos.

The scheme 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.

The company is also targeting 1,000 electric tricycles by end of 2025 to scale affordable, sustainable mobility solutions.

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 EV 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 event, Caroline Wanjihia, Bolt’s Regional Director of Rides Operations, Africa and International Markets, said: “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….”

Osi Oguah, General Manager, Bolt Nigeria said: “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.’