Business
Uber hikes fares in Lagos by 13%
Nigeria’s ride-hailing firm, Uber, says it is increasing the price on UberX by 13 percent beginning from Tuesday, 11th May 2021.
In a statement to its drivers, Uber stated that it remains committed to providing a reliable earning opportunity for driver-partners, as well as a reliable and affordable service for riders.
Recall the period drivers of Uber, Bolt and InDriver protested “systemic slavery”, with a 5-point agenda including an upward review of wages among other things.
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The new billing structure will affect both peak and off-peak periods. It also reflects a time-based pricing that enables drivers to earn more at certain periods during the day.
Monday 08:00 am – 12:00 pm and Tuesday – Friday 05:00 am – 12:00 pm – Minimum fare: N538; Base fare: N237; Per kilometre fare: N70; Per minute fare: N12.
Other time periods – Minimum fare: N575; Base fare: N255; Per kilometre fare: N75 and Per-minute fare: N12.5.
This is the new reality and depending on how the market responds, other ride-hailing companies may as well follow suit. I guess it’s true of the saying about who suffers when two elephants struggle.
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