Following the removal of fuel subsidies, fuel prices nationwide have skyrocketed, triggering a struggle for profits and cost savings among riders, drivers, and ride-hailing platforms.
In his inaugural speech as President of Nigeria, Bola Tinubu announced the removal of fuel subsidies. This announcement has had an instant impact on the transport sector, with prices rising rapidly, particularly in the ride-hailing space. “I paid 4k from Obalende to Victoria Island!” Tobi, a content manager living in Lagos told TechCabal, sharing that the usual fare for this trip was around 1,500 Naira before this week. Tobi has now switched to public transportation to manage costs.
Some observers say that this rise in prices may convince ride-hailing companies to offer ride-sharing services to riders. But there are some trust and safety concerns to consider. Illy, who uses Uber and Bolt, told TechCabal, “I won’t share a ride because I don’t trust people. Instead, I use Rida and…
