The Decline of Rideshare Business in Nigeria: A Reflection


It seems like every year, the rideshare business keeps getting tougher. Back in 2019/2020, when fuel was around ₦200 per litre, I had a friend who was thriving as a driver. After just three or four trips, he would head straight to a beer parlor, grab some beer, and treat himself to some well-prepared catfish. Life was good for him back then.


Fast forward to now, and the story has completely changed. I can’t even remember the last time I saw a rideshare driver relaxing at a beer parlor. This work has become so difficult that it seems almost impossible to enjoy the fruits of the labor.


Imagine this: Uber is now taking over 33% or more as commission from each trip, and it's only a matter of time before other rideshare apps follow suit, increasing their own commission rates.


For drivers who are still working under hire purchase agreements in this tough economy, hats off to you! This era of high fuel prices, increased vehicle maintenance costs, and steep commissions is not for the faint-hearted. Truly, it's not just a job anymore—it’s a hustle for survival.


The rideshare business in Nigeria, once a promising way to earn a decent living, is now struggling under the weight of rising costs and diminishing returns. What’s next for drivers in this industry? One can only hope that better policies or alternatives come up to alleviate these challenges.

What are your thoughts on this? Let’s discuss in the comments.


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