By Susan Olalere 
Ride-hailing firm Bolt has unveiled its latest mobility push in Nigeria: electric tricycles priced at ₦3.2 million each, aimed at reshaping urban transportation with a more sustainable, cost-efficient model. Launched in partnership with SGX Mobility, the Lagos-based EV company, the tricycles will debut in Lagos this May—marking Bolt’s first foray into electric tricycles in the country.
This launch extends Bolt’s presence in Nigeria’s tricycle market, having previously offered petrol-powered “keke” rides in cities such as Jos and Uyo. But now, Lagosians can request electric tricycles directly through the Bolt app, presenting a new choice in urban commuting amid rising fuel costs and intensifying environmental concerns.
Affordability and Ownership at the Core
Each vehicle will be offered via a lease-to-own structure: drivers make a ₦208,000 ($130) down payment, followed by weekly or monthly payments (₦32,000 or ₦156,000 respectively) for 18 to 24 months. Compared to petrol-powered alternatives, the electric tricycles slash operating costs, with daily battery swaps priced at ₦6,500—roughly half the daily fuel spend for a standard keke.
“This launch is about building an ecosystem, not just introducing vehicles,” said Caroline Wanjihla, spokesperson for Bolt Africa. “We’re betting on driver economics. EV tricycles have lower running costs. And with our lease model, drivers can own their vehicles in two years while saving on fuel and maintenance from day one.”
Bolt’s model addresses past criticisms of similar financing schemes from platforms like Moove and LagRide, where drivers struggled with rigid repayment terms and frequent defaults. Bolt’s proposition is a more flexible one—lower entry costs, predictable payments, and reduced platform commissions (15% versus the industry’s typical 25%).
Tech Specs and Infrastructure Plans
According to Ayo Mustapha, SGX’s Corporate Finance Manager, each tricycle can reach speeds of up to 80 km/h and operate for 12 hours on a single charge. The company is also introducing a battery swap station at Eagle Square in Surulere, designed to reduce driver downtime and support consistent earnings.
This infrastructure-driven rollout gives Bolt a potential first-mover advantage in Lagos’ EV ecosystem, particularly as fuel prices surge and low-income drivers seek alternatives. Although some keke operators have turned to compressed natural gas (CNG), limited fueling infrastructure and high conversion costs have hindered adoption.
The Long-Term Vision
Bolt is approaching the rollout cautiously—ready to tweak lease terms, redeploy vehicles, or slow expansion based on user feedback. But if successful, the company aims to scale the initiative across other Nigerian cities and further into Africa, including Ghana, Uganda, Tanzania, and Tunisia.
“The future of urban transport in Africa will be electric, but it won’t succeed without affordability, infrastructure, and driver-friendly models,” said Zankyang Duniya, Bolt’s Nigeria Operations Manager. “We believe our tricycle program gets all three right.”
In a city long bogged down by fuel hikes and traffic gridlock, Bolt’s electric tricycles may represent more than a vehicle launch—they could be the start of a cleaner, more equitable future for mobility in Africa.
OpeOluwa Okudero 
Valentine Alexander
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