₦airaland Forum

Shimmaa:
My brother, nah tinubu cause all this coz tell me why someone will be feeling like merlin untop 2004 Camry.

Baba u get car and u no dey desperate... he can only negotiate with what we have shared so far or look another deal.

The driver doesnt have experience too from the way he said he doesnt understand.

Eazilyfe:
Baba u get car and u no dey desperate... he can only negotiate with what we have shared so far or look another deal.

The driver doesnt have experience too from the way he said he doesnt understand.

5 years experience on ehailing no be beans. That deal os what i almost didn't understand and I had to bring it here. I have always mostly driven to deliver on weekly basis.

Some riders are very funny, you want to book me for early morning movement and you’re going to app to check price estimate and you’re telling me the price you’re seeing online.

ebiye55:
Maximum respect bros, but let's be honest

What has Bolt promised?

Na the Bolt Spartans fit answer this your question.



Much respect, baba.

Shimmaa:
Bros, don’t bother yourself. You’re too wise for the business, just look for another business that will fit your intelligence.

Don’t come and be exhibiting your intelligence untop 2004 Camry, Biko, nah just driver we be.

this na anyhow talk na

Shimmaa:
Some people are just clown, I’m sorry to say tho.

Work harder to net higher thereby making owner to have more as 60% 😂😂😂

Imagine you having a target of 50k take home but in the right sense, you’re making owner to have 75,000 as his 60% so the more you work, the more money that goes to owner and someone said the owner is being reasonable.

Abeg, if you don’t have in-depth knowledge and understanding about something, just keep shut pls.

your manner of approach for a public forum like this, which you don't even know the person you are quoting personally lacks decorum......haha kiloshele gan

@ Shimmaa and Danremmy, I have zero experience when it comes to e-hailing. However I can contribute using general business experience.

I think you misunderstood Eazilyfe. Here is what I think:

1. Danremmy said he has 5 years experience. And that's exactly why he was pissed off. He is too experienced for that kind of offer. He has seen things and he is not desperate. A less experienced and more desperate Driver would take that offer.

2. I totally agree with Shimmaa that the pickup and drop off time will be very challenging. However, a Driver that is not experienced in e-hailing would still likely take that offer (especially a Driver that also doesn't like working at night). Location of the owner and location of the Driver is also important. Nevertheless, the pickup and drop off thing could still be negotiated.

3. Talking about Repairs: They could both agree to set aside 5k daily for Repairs & Maintenance (5000×25 = 125,000 monthly). Any month they spend less, the balance would be split as profit. If they spend more (the owner pays out of pocket and deduct the following month). I feel the former would happen more often than the latter.

4. Sharing Formula: This is left for the Driver to research and arrive at an average expected daily Net earnings (After deducting cost of fuel, commission, 5k for Repairs & maintenance). This will properly guide him on what percentage to negotiate. 60% owner, 40% Driver is just an asking price. The Driver can negotiate what favours him.

At the end of the day, the Owner is coming with the business Capital and the Driver is coming with Time and Expertise. The Owner has an advantage of keeping his Asset (Car) in good shape because the Driver shares part of the liability. He drives more carefully. The owner is only exposed to risk of losing his car to theft, major accident, etc. If he thinks he wants protection, he can decide to go for comprehensive insurance.

Overall: An experienced Driver wouldn't want such deal, but there are several inexperienced Drivers and Drivers in need that'd go for it. Some people are just looking for a hustle that can guarantee them 150k take home monthly. The person might later get the 150k monthly for 6 months and his taste would increase o. He could even see better offers while driving and grab a better offer.

NaughtyBrainiac:
@ Shimmaa and Danremmy, I have zero experience when it comes to e-hailing. However I can contribute using general business experience.

I think you misunderstood Eazilyfe. Here is what I think:

1. Danremmy said he has 5 years experience. And that's exactly why he was pissed off. He is too experienced for that kind of offer. He has seen things and he is not desperate. A less experienced and more desperate Driver would take that offer.

2. I totally agree with Shimmaa that the pickup and drop off time will be very challenging. However, a Driver that is not experienced in e-hailing would still likely take that offer (especially a Driver that also doesn't like working at night). Location of the owner and location of the Driver is also important. Nevertheless, the pickup and drop off thing could still be negotiated.

3. Talking about Repairs: They could both agree to set aside 5k daily for Repairs & Maintenance (5000×25 = 125,000 monthly). Any month they spend less, the balance would be split as profit. If they spend more (the owner pays out of pocket and deduct the following month). I feel the former would happen more often than the latter.

4. Sharing Formula: This is left for the Driver to research and arrive at an average expected daily Net earnings (After deducting cost of fuel, commission, 5k for Repairs & maintenance). This will properly guide him on what percentage to negotiate. 60% owner, 40% Driver is just an asking price. The Driver can negotiate what favours him.

At the end of the day, the Owner is coming with the business Capital and the Driver is coming with Time and Expertise. The Owner has an advantage of keeping his Asset (Car) in good shape because the Driver shares part of the liability. He drives more carefully. The owner is only exposed to risk of losing his car to theft, major accident, etc. If he thinks he wants protection, he can decide to go for comprehensive insurance.

Overall: An experienced Driver wouldn't want such deal, but there are several inexperienced Drivers and Drivers in need that'd go for it. Some people are just looking for a hustle that can guarantee them 150k take home monthly. The person might later get the 150k monthly for 6 months and his taste would increase o. He could even see better offers while driving and grab a better offer.

Nice write up boss, from what i denote the owner has probably tried the normal way of weekly delivery before he came up with his new format. Everything can still be negotiated

If i am to give a driver my vehicle for commercial use there is no way he wont share from the repair & maintenance expenses

Tinubu dey enter lagos, use map wisely

Before indrive 10k trip turn into 2 hours..

Eazilyfe:
Tinubu dey enter lagos, use map wisely

obacasmir:
Before indrive 10k trip turn into 2 hours..

Even Bolt no go add N5 to your money, except na Comfort

Even bolt too?
That's serious...

Eazilyfe:
Even Bolt no go add N5 to your money, except na Comfort

If you get stuck, off your car wind down

Heaven no go fall

Eazilyfe:
Even Bolt no go add N5 to your money, except na Comfort

Una weldone o

Glithronix:
A new app. coy needs to come and replace Uber ASAP.

Leaving the market to Bolt and Indrive alone no make sense.



Much respect, baba.

The only way a new app will grab market share is by offering even lower prices than what is currently obtainable and what the majority is complaining about.

It’s always so good to come back here and see drivers thriving and doing so well. No need to make any moves to better our lot, we should just keep adjusting. Bolt must be very pleased.

Even though I know you know all dis but Let me still drop this here. E long, no vex.

If you don’t agree please let me know, I’ll try and either argue my point or recalculate. Everything here na estimate/average, but I think it’s fairly accurate. If e too long for you, read the TL;DR.

Bolt Driver Economics — The Real Math

TL;DR

You buy fuel at ₦1,300/litre. Bolt charges the passenger ₦2,600. After 25% commission (₦650) and fuel (₦1,300), you have ₦650 left. But your real cost per litre is ₦2,133. You lose ₦183 on every litre you buy. Monthly, you lose ₦73,334 before paying yourself. To earn a fair wage of ₦250,000/month, the fare must be ₦3,677/litre at 25% commission — or ₦3,065/litre if Bolt drops commission to 10%. Currently, you're paying to work while your (averagely) ₦6m car dies.

Part 1: The Setup

Car cost: ₦6,000,000
Fuel price: ₦1,300 per litre
Fuel bought per day: 20 litres
Days worked per month: 20 days
Hours worked per day: 8 hours
Total litres per month: 400 litres
Total hours per month: 160 hours
Part 2: How the Fare Works Per Litre

You buy 1 litre of fuel for ₦1,300
Bolt charges the passenger ₦2,600 (2× your fuel cost)
Bolt takes 25% commission = ₦650
You receive ₦1,950
Minus your fuel = ₦650 left per litre
But your real cost per litre = ₦2,133
So you LOSE ₦183 on every litre you buy
Part 3: Your Monthly Costs

Fuel: ₦520,000
Repairs and maintenance: ₦100,000
Replacement reserve: ₦150,000
Insurance: ₦25,000
Phone and data: ₦20,000
Car wash: ₦20,000
Tolls and parking: ₦5,000
Traffic fines: ₦5,000
Registration: ₦4,167
Health: ₦4,167
Total monthly costs: ₦853,334
Cost per litre: ₦2,133
Part 4: What You Actually Earn Today

Monthly fares: ₦1,040,000
Bolt commission (25%): –₦260,000
You receive: ₦780,000
Minus your costs: –₦853,334
Your result: –₦73,334 (A LOSS)
Per litre: –₦183 (A LOSS)
Per day: –₦3,667 (A LOSS)
Per hour: –₦458 (A LOSS)
Part 5: What Each Wage Level Requires

Break-even: fare ₦2,844/litre at 25% commission
Minimum wage (₦70,000): fare ₦3,077/litre at 25% commission
Living wage (₦150,000): fare ₦3,344/litre at 25% commission
Fair wage (₦250,000): fare ₦3,677/litre at 25% commission
Part 6: Fair Wage Broken Down Per Litre

Fuel: ₦1,300
Other operating costs: ₦833
Fair wage: ₦625
You must receive: ₦2,758 per litre
Fare needed at 25% commission: ₦3,677 per litre
Current fare: ₦2,600 per litre
Gap: ₦1,077 per litre
Part 7: If Bolt Lowers Commission (Fair Wage ₦250,000)

At 25% commission: fare ₦1,471,112/month, Bolt earns ₦367,778
At 20% commission: fare ₦1,379,168/month, Bolt earns ₦275,834
At 15% commission: fare ₦1,298,040/month, Bolt earns ₦194,706
At 10% commission: fare ₦1,225,927/month, Bolt earns ₦122,593
At 5% commission: fare ₦1,161,404/month, Bolt earns ₦58,070
At 0% commission: fare ₦1,103,334/month, Bolt earns ₦0
Part 8: If Fares Stay the Same (₦1,040,000/month)

At 25% commission: you get ₦780,000 — after costs you get –₦73,334
At 20% commission: you get ₦832,000 — after costs you get –₦21,334
At 15% commission: you get ₦884,000 — after costs you get ₦30,666
At 10% commission: you get ₦936,000 — after costs you get ₦82,666
At 5% commission: you get ₦988,000 — after costs you get ₦134,666
At 0% commission: you get ₦1,040,000 — after costs you get ₦186,666
Even at 0% commission, you still earn less than ₦250,000 fair wage
Part 9: What Is NOT Included

Downtime (car in workshop = ₦0 earned)
Accident repairs
Theft or robbery
Illness
Any profit beyond your wage
Adding these makes the real numbers worse
Part 10: The Last 10 — The Whole Essence

You lose ₦183 on every litre of fuel you buy.
You lose ₦73,334 every month before paying yourself.
To earn a fair wage of ₦250,000/month, fare must be ₦3,677/litre at 25% commission.
If Bolt drops commission to 10%, fare only needs to be ₦3,065/litre.
At current fares, even 0% commission leaves you ₦63,334 short of a fair wage.
Bolt still earns ₦122,593/month per driver at 10% commission and ₦250,000 wage.
Recommended: 10% commission, 18% fare increase, ₦250,000 monthly wage.
Downtime, accidents, theft, and illness are excluded — reality is worse.
Current model is not a business — it is a transfer of your car, time, and money to the platform.
You are not earning — you are paying to work while your ₦6,000,000 car dies.

obacasmir:
Before indrive 10k trip turn into 2 hours..

why do I find this funny? 😂

CheerfulGiver:
The only way a new app will grab market share is by offering even lower prices than what is currently obtainable and what the majority is complaining about.

Legend himself. I greet you.
Whatever idea that will break the mumu competition between Bolt and Indrive is needed ASAP.
Drivers are the soul of the business.
The main target should be to attract drivers (firstly).
A new wave that will attract drivers (fair price + lower commission + transparency).
Believe me, if drivers migrate in large numbers to another platform, passengers will follow.
An aggressive marketing/promotion/awareness will do the magic.
What is kilheen Bolt now no be the rubbish prices only, their stupid commission is also affecting them.
Indrive with somehow yéyé prices, but with lower commission, na wetin dey make drivers use them more now be that.

So, a new app. coy can actually break into the market and gain ground if they can play on both aspects.

Someone just has to come and stop this competition between those two hediots.




Much respect, legend.

Shimmaa:
The egbon no get deep understanding, like I said, the person that made that offer is too intelligent and he’s just looking for a fool to outsmart. Driver gets to work for repairs and all expenses while he still get his own 60% 😂

That person must really think people that does uber are dumb o.



Imagine working to pay commission of 25%, work to buy fuel of 40%, work to pay repair of let’s say 5% and all together thats 70% and the remaining 30%, someone wants to take 60% out of it haaaaa.

May God punish that person with that offer.

Hehehehehehehe
E fit be CNG car🤣

Whatever idea that will break the mumu competition between Bolt and Indrive is needed ASAP regardless of the new app drop in price?


Pleasee you need to understand the comment you responded to.

Glithronix:
Legend himself. I greet you.
Whatever idea that will break the mumu competition between Bolt and Indrive is needed ASAP.
Drivers are the soul of the business.
The main target should be to attract drivers (firstly).
A new wave that will attract drivers (fair price + lower commission + transparency).
Believe me, if drivers migrate in large numbers to another platform, passengers will follow.
An aggressive marketing/promotion/awareness will do the magic.
What is kilheen Bolt now no be the rubbish prices only, their stupid commission is also affecting them.
Indrive with somehow yéyé prices, but with lower commission, na wetin dey make drivers use them more now be that.

So, a new app. coy can actually break into the market and gain ground if they can play on both aspects.

Someone just has to come and stop this competition between those two hediots.




Much respect, legend.

Glithronix:
Legend himself. I greet you.
Whatever idea that will break the mumu competition between Bolt and Indrive is needed ASAP.
Drivers are the soul of the business.
The main target should be to attract drivers (firstly).
A new wave that will attract drivers (fair price + lower commission + transparency).
Believe me, if drivers migrate in large numbers to another platform, passengers will follow.
An aggressive marketing/promotion/awareness will do the magic.
What is kilheen Bolt now no be the rubbish prices only, their stupid commission is also affecting them.
Indrive with somehow yéyé prices, but with lower commission, na wetin dey make drivers use them more now be that.

So, a new app. coy can actually break into the market and gain ground if they can play on both aspects.

Someone just has to come and stop this competition between those two hediots.




Much respect, legend.

Whatever idea is based on money baba. How can drivers earn what is fair? Riders dont want to pay much too because apps have reduced base rate badly, these prices i dey see i no even see am when i never start driving by 2023 as a rider, na hin i dey see as driver now

CheerfulGiver:
Una weldone o

🙌🙌🙌

obacasmir:
Whatever idea that will break the mumu competition between Bolt and Indrive is needed ASAP regardless of the new app drop in price?


Pleasee you need to understand the comment you responded to.

I do.
Na you no understand my response.



Much respect, baba.

Eazilyfe:
Whatever idea is based on money baba. How can drivers earn what is fair? Riders dont want to pay much too because apps have reduced base rate badly, these prices i dey see i no even see am when i never start driving by 2023 as a rider, na hin i dey see as driver now

@the bold. 😂😂😂
When someone talk say una never see anything, you think say na joke? 🤣🤣🤣

But on a serious note, any app that can win drivers over will make it in the market.
Indrive is playing on what Bolt lacks.
The new app will have to play on what indrive lacks and still use indrive tactics.




Much respect, boss.

CheerfulGiver:
Una weldone o

Where have u been?

Glithronix:
@the bold. 😂😂😂
When someone talk say una never see anything, you think say na joke? 🤣🤣🤣

But on a serious note, any app that can win drivers over will make it in the market.
Indrive is playing on what Bolt lacks.
The new app will have to play on what indrive lacks and still use indrive tactics.


Much respect, boss.

And what might that be?

Hello Experienced Drivers,

I have zero experience in this e-hailing thing, but I feel Drivers have so much power in this e-hailing Ecosystem.

If Drivers decide to boycott a particular company, there is no way such company won't feel the heat.

I know that total boycott is not possible because some Drivers will not cooperate for reasons ranging from short-sightedness to desperation because they rely on driving for their next meal. Nevertheless, even without total boycott, a company would still feel the heat.

In addition, is it not possible to have like a Union that represents the interest of Drivers?

Even Barbers, Hairdressers dey get Union.

I just feel there should be a solution to these complaints that Drivers have.

A Driver that owns a car that's worth 7 miilion naira, and spends 40 hours per week driving , should be able to comfortably boast of at least 700k monthly take home.

Abi na me dey reason rubbish? 😆

NaughtyBrainiac:
Hello Experienced Drivers,

I have zero experience in this e-hailing thing, but I feel Drivers have so much power in this e-hailing Ecosystem.

If Drivers decide to boycott a particular company, there is no way such company won't feel the heat.

I know that total boycott is not possible because some Drivers will not cooperate for reasons ranging from short-sightedness to desperation because they rely on driving for their next meal. Nevertheless, even without total boycott, a company would still feel the heat.

In addition, is it not possible to have like a Union that represents the interest of Drivers?

Even Barbers, Hairdressers dey get Union.

I just feel there should be a solution to these complaints that Drivers have.

A Driver that owns a car that's worth 7 miilion naira, and spends 40 hours per week driving , should be able to comfortably boast of at least 700k monthly take home.

Abi na me dey reason rubbish? 😆

My brother u r not reasoning rubbish ooo. Iz sad that even drivers don't see themselves worth earning that much. D drivers believe d job is for low lives hence no need for regulation just do as u like as long as u see food chop no reasoning about d future.

There is a union tho in the past they were bought over by d app companies but now there is new resolve to make it work this time.

Drivers are the power house of e hailing and only 50% can enforce desired result from the total shutdown.

Pearl1910:
And what might that be?

Very simple. The same way indrive smuggled themselves into the market, but with a more enticing facilities that will definitely attract drivers and riders.

Such as;
Lower commission - just as indrive started it.

Bonus to drivers- massive bonus and the ability to withdraw your bonus into your bank account if you want.

Bonus to riders - offer riders a very good bonus, but this one should not be taken from drivers trip fare.
For example, if a ride shows 10k on the driver's board, and shows 6k to the rider (indicating a bonus of 4k for the rider), the 4k bonus should be credited to drivers wallet and can be withdrawn by driver if he wants.

These two alone will do the work.
The purpose is to attract a lot of drivers on board.

So, as time goes on, they can start increasing the base fare but bonus to riders this time should be the main focus, and the bonus goes to drivers wallet.

They should do all these till they are fully in the market and start doing some things that would increase their own returns.
Na business house, they know what to do.

When they become expensive, the bonuses to riders will keep riders on the app till riders feel comfortable with them, just like they are with indrive now.

Drivers pick rides they want, just like indrive..

But dem go first spend that money 😁coupled with aggressive promotion/advertisement.





Much respect, boss.

Nelochukwu:
My brother u r not reasoning rubbish ooo. Iz sad that even drivers don't see themselves worth earning that much. D drivers believe d job is for low lives hence no need for regulation just do as u like as long as u see food chop no reasoning about d future.

There is a union tho in the past they were bought over by d app companies but now there is new resolve to make it work this time.

Drivers are the power house of e hailing and only 50% can enforce desired result from the total shutdown.

Low lives? Dem dey craze. A lot of NURTW guys are not low lives. Some of them have 3 houses and even more. You will see some Keke Drivers that have 2 good houses. So, na e-hailing Driver come be low life? Person wey get good car, dress well, speak good English etc Ah 😂