Bolt Food has announced it’s stopping its services in Nigeria by December 7, 2023. This means people won’t be able to order food through the platform anymore.
The decision comes nearly two years after Bolt Food started in Nigeria, and it’s all about making the company more efficient.
Bolt Food shared that they’ve worked with 10,000 restaurants, delivered over a million meals, and had 23,000 agents and 12,000 merchants involved. Despite these efforts, they feel it’s necessary to leave Nigeria to use their resources better.
This move follows the country manager’s statement that success in the food delivery market depends on providing great service and running operations smoothly. However, intense competition, economic challenges, like the recent fuel subsidy cut, and higher food prices have made it tough.
Bolt Foods faced tough competition from established players like Jumia Foods, Glovo, and Chowdeck, the latter reaching a monthly order value of $1.2 million. Although Bolt Food is leaving the food delivery market in Nigeria, other Bolt services like ride-hailing will continue. This decision follows Bolt Food ending operations in Sweden earlier this year.