Electric vehicles in Nigeria have long been confined to a niche market — symbols of wealth parked in gated estates. But Bolt’s May 2025 deployment of 25 electric “keke” tricycles into Lagos traffic is setting a different tone. It’s not about luxury. It’s about access.
In an industry plagued by punishing lease terms and burnout, many ride-hailing drivers find themselves trapped in endless repayment cycles. Bolt is attempting to break that mould.
With a ₦208,000 initial deposit, drivers can lease at ₦32,000 weekly or ₦156,000 monthly. Bolt’s 15% commission is lower than the typical 25%, and the battery swap system costs just ₦6,500 a day, nearly half what drivers spend on petrol.
It’s not a miracle fix, but it’s a financially viable path to ownership in less than two years, something many drivers haven’t had a real shot at until now.
Lagos, with its chronic traffic and fuel volatility, may seem like a strange place to test clean energy transport. But that’s exactly why Bolt chose it. If it can work here, the implications for cities like Accra, Kampala, and Nairobi are enormous.
The tricycles are built for the challenge: 80km/h top speed, 12-hour battery life, and a supporting network for quick battery swaps. If the model holds, Bolt may have found a formula for scaling EVs across urban Africa.
The hurdles ahead are real. Battery infrastructure needs to scale quickly. The lease model must withstand inflation and economic pressures. And public perception of electric vehicles — especially among drivers — has yet to be fully tested.
But if this pilot succeeds, even partially, it could mark the beginning of mass-market electric mobility in Africa. Bolt isn’t just betting on tricycles,it’s betting on a new kind of future. And that’s a bet worth paying attention to.
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