Nigerian users of the Bolt Food will no longer use the service as from December 7, 2023 as the company will be exiting Nigeria.
In an effort to enhance its total efficiency and optimise its resources, the company announced its decision.
Following an upsurge in demand for food delivery services during the epidemic, Bolt, which presently provides food delivery services in 16 countries and 33 cities worldwide, launched Bolt Food in Nigeria in October 2021.
Bolt Food says that since its launch, it has collaborated with more than 10,000 eateries, delivered more than a million meals, and onboarded 12,000 merchants and 23,000 agents.
Bolt Food cited resource optimisation as the reason for its exit, whereas ChowDeck, a Nigerian food delivery business supported by Y Combinator, recently achieved a monthly order value of over ₦1 billion ($1.2 million).
Nigeria’s food delivery companies are dealing with difficult macroeconomic issues that have an impact on their daily operations.
Bolt and other logistics firms have raised delivery fees by 20–50% due to rising gasoline prices. In addition to these macroeconomic factors, inadequate road networks cause delivery delays.
Additionally, with new competitors joining the market on a regular basis, Nigeria’s food delivery business is getting more and more competitive. Food delivery services are occasionally impacted by erroneous map locations, and well-known traffic jams in cities like Lagos contribute to bottlenecks affecting food delivery
