Bolt had previously announced a new price regimen for its drivers following the hike in fuel prices that greeted President Bola Ahmed Tinubu’s removal of fuel subsidy. Excessively high prices will discourage passengers from ordering rides, thus negatively impacting drivers’ earnings. Therefore, our revised fares aim to strike a balance between better compensation for drivers and manageable prices for passengers. The company argued that the perception that fuel cost is equal to drivers total cost is wrong as it is only a portion of driver’s total cost. “An increase in fuel cost does not necessitate an equivalent increase in total fares as the fuel cost is only one part of driver costs.