One of the leading E-hailing rides in Nigeria, Bolt has revealed that Abuja-based drivers on its platform are saving between 60,000 and 70,000 naira weekly, following their decision to embrace the newly introduced vehicles that are running on Compressed Natural Gas (CNG).

This was disclosed by Bolt’s Fleet Operation Manager, Joseph omosebi while speaking on Tuesday at a panel organized by BusinessDay titled: “The role of technology in the logistics business.”

According to him, the move was part of the company’s strategies to beat the present economic reality orchestrated by high cost of fuel, noting that Bolt has leveraged its data-driven insight to grow business in the face of soaring cost of doing business.

He noted that data collection and analysis helped the company understand that it is better to offer various classes of offerings to different riders which consequently gave rise to the launch of economy category, a category that has helped riders who cannot afford the price increase.

“Data-driven insights have enabled the company optimize pricing. Having recognized the impact of fuel costs on profitability, Bolt introduced vehicles running on Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG) in Abuja, offering drivers significant savings of up to N60,000-N70,000 weekly.” Omosebi said.

Also speaking at the panel, Ope Onaboye, Co-founder of Renda Africa, a firm that handles storage, inventory, and track delivery for e-commerce businesses, said that it has been able to offer more value to its customers through data.

According to Onaoye, using data to identify new market trends, customer preferences, and product development strategies is important to enable them make better decisions.