Bolt, the Estonian ride-hailing company, says it will remain in Nigeria and continue investing in the market following rival Uber's surprise exit from the country.

In a statement shared with TechCabal on Wednesday night, Bolt described Nigeria as an important market for its growth. With Uber gone, Bolt is now the other major international ride-hailing platform serving Nigeria, placing the company in a position to potentially absorb drivers and riders who previously relied on its competitor. The exit also leaves Nigeria, Africa's most populous country and one of the continent's largest ride-hailing markets by driver base, without one of its two dominant global platforms, sharpening the competitive stakes for the remaining local and international operators.

The statement came just hours after Uber informed its riders and drivers on Wednesday afternoon that it would wind down operations in Nigeria following a review of its business priorities and investment focus. Uber also exited Uganda as part of a global restructuring that includes plans to cut more than 3,000 jobs worldwide.

"Nigeria remains an important market for Bolt, and we remain firmly committed to the country," said Teddy Appa-Dankyi, senior general manager for Bolt West Africa. "We have built a strong community of riders and driver partners over the years, and our focus is on continuing to serve them while strengthening our operations and creating more opportunities across the market."

Bolt, which entered Nigeria in 2016, has contended with rising fuel prices and currency volatility, factors that have pushed up operating costs for both drivers and ride-hailing platforms. These pressures — part of the broader macroeconomic environment facing consumer internet companies operating in Nigeria — have fueled tensions between the platforms and their drivers over fares and commissions. In March, ride-hailing drivers staged a three-day strike in Lagos, protesting what they described as unsustainable fares, high commissions, and rising fuel and vehicle maintenance costs.

Like Uber and other ride-hailing companies, Bolt's operations at local airports were disrupted by the Federal Airports Authority of Nigeria's (FAAN) efforts to introduce a new framework for airport pickups. Bolt subsequently reached an agreement with the agency and was cleared to resume operations at FAAN-managed airports in August. How the remaining platforms navigate these regulatory and cost pressures will shape the market Uber leaves behind, particularly whether drivers and riders migrate to Bolt or to rivals such as inDrive and LagRide.

Bolt is now one of the largest remaining players in Nigeria's ride-hailing market, alongside inDrive, LagRide, and other operators, and operates in 33 cities across the country, including Lagos, Abuja, Ibadan, Kaduna, and Owerri. Nigeria forms part of Bolt's wider African footprint, where the company has positioned the continent as a key growth region in recent years.

"We recognise that there is understandably some uncertainty following recent developments in the industry," Appa-Dankyi said. "However, our focus remains firmly on the long term. We will continue working closely with our drivers, riders, regulators and other partners to contribute to a reliable, accessible and sustainable mobility ecosystem in Nigeria."

In July, Bolt integrated its ride-hailing service with ChatGPT, allowing users to search for rides and view fare estimates and driver arrival times before completing their booking in the Bolt app.