How to Save Money on Commuting: Comparing fare rates and transport options

The recent removal of petrol subsidy in Nigeria has led to a significant increase in the price of fuel. This has put a strain on the budgets of many Nigerians, who rely on their cars to get to work or school. If you are one of these people, you may be wondering how you can save money on commuting.

In this blog post, we will explore practical and effective strategies to help you navigate this new era and make your daily commute more budget friendly. We also provide a list of the price rates of different transport companies to help you compare and make an a more informed decision for your next trip. By implementing these tips, you can regain control over your transportation expenses and keep your finances in check.

Comparing Fare Rates and Transport Options

In recent times, ride-hailing services have gained significant popularity in Nigeria, offering convenient and reliable transportation options to both residents and visitors.

Here are some of the prominent ride-hailing services operating in Nigeria:

Uber

Uber is one of the most well-known and widely used ride-hailing platforms in Nigeria. It operates in major cities such as Lagos, Abuja, Port Harcourt, and Ibadan. Uber provides a range of services, including economy-class vehicles (UberGo), larger vehicles (UberX), and premium options like UberSELECT or UberBLACK.

Here is a table showing the estimated price per kilometer for each Uber service in Lagos, Nigeria:

As you can see, Uber Go is the most affordable option, while Uber Black offers the most luxurious experience. The best option for you will depend on your budget and needs.

Here are some additional things to consider when choosing between Uber Go, Uber X, and Uber Black:

• Trip distance: If you are only going a short distance, Uber Go may be the better option. However, if you are going a longer distance, Uber X or Uber Black may be worth the extra cost.
• Time of day: Uber Go prices are typically lower during off-peak hours, such as early morning or late night. However, Uber X and Uber Black prices are typically lower during peak hours, such as rush hour and late night.
• Passengers: If you are traveling with more than 4 passengers, Uber X or Uber Black may be the only option.
• Special occasions: If you are traveling for a special occasion, such as a business meeting or a date, Uber Black may be the best option.

Bolt

Bolt, formerly Taxify, is another popular ride-hailing service available in Nigeria. It operates in several cities, including Lagos, Abuja, Ibadan, and Benin City. Similar to Uber, Bolt offers various vehicle categories (Bolt and Bolt Business) to cater to different preferences and budgets.

Here is a comparison of Bolt and Bolt Business:

Here are some additional things to consider when choosing between Bolt and Bolt Business:

• Trip distance: If you are only going a short distance, regular Bolt may be the better option. However, if you are going a longer distance, Bolt Business may be worth the extra cost.
• Time of day: Bolt prices are typically lower during off-peak hours, such as early morning or late night. However, Bolt Business prices are typically lower during peak hours and on weekends.
• Passengers: If you are traveling with more than 4 passengers, Bolt Business may not be an option. However, regular Bolt offers a carpool service called BoltPool that can accommodate up to 6 passengers.
• Special occasions: If you are traveling for a special occasion, such as a business meeting or a date, Bolt Business may be the best option. It can provide you with a more reliable and luxurious ride.

OgaTaxi

OgaTaxi is a Nigerian-owned ride-hailing service that operates in Lagos and Abuja. It offers options for both cars and motorcycles, allowing users to choose the mode of transportation that suits their needs.

Here is a comparison of the prices of Oga Taxi car and motorcycle rides in Lagos, Nigeria:

Here are some additional things to consider when choosing between Oga Taxi car and motorcycle rides:

• Trip distance: If you are only going a short distance, a motorcycle may be the better option. However, if you are going a longer distance, a car may be worth the extra cost.
• Time of day: Motorcycle prices are typically lower during off-peak hours, such as early morning or late night. However, car prices are typically lower during peak hours and on weekends.
• Passengers: If you are traveling with more than one passenger, a car may be the only option.
• Special occasions: If you are traveling for a special occasion, such as a business meeting or a date, a car may be the best option. It can provide you with a more comfortable and reliable ride.

Rida

Rida is a ride-hailing service that operates in Nigeria. It is a relatively new entrant in the ride-hailing market and offers a unique approach to pricing and ride booking.

The distinguishing feature of Rida is its "fair market pricing" model. Unlike traditional ride-hailing services with predetermined fares, Rida allows passengers to negotiate the fare directly with drivers.

This model gives passengers more control over their transportation costs, as they can choose to pay a lower fare if they are willing to negotiate. It also gives drivers more flexibility, as they can set their own prices based on demand and supply.

Rida is available in Lagos, Abuja, and Ibadan. It has a fleet of over 10,000 drivers and over 1 million passengers.

Here are some things to consider before choosing Rida:

• Availability: Rida is only available in Lagos, Abuja, and Ibadan. If you are traveling to another city, you will need to use a different ride-hailing service.
• Convenience: Rida is not as convenient as traditional ride-hailing services, as you need to negotiate the fare directly with the driver. This can be time-consuming and frustrating, especially if you are in a hurry.
• Safety: Rida is a relatively new service, so there is not much information available about its safety record. However, Rida does have a number of safety features in place, such as driver background checks and GPS tracking.
• Price: Rida fares are typically lower than taxi fares or ride-hailing car fares. However, the fare will vary depending on the distance travelled and the time of day.

Overall, Rida is a good option for passengers who are looking for a more affordable and flexible way to travel. However, it is important to consider the availability, convenience, safety, and price before choosing this service.

inDriver

inDriver is a ride-hailing platform that operates in Nigeria. It is a relatively new entrant in the ride-hailing market and offers a unique approach to pricing and ride booking.

The distinguishing feature of inDriver is its "fair market pricing" model. Unlike traditional ride-hailing services with predetermined fares, inDriver allows passengers to negotiate the fare directly with drivers.

GidiCab

GidiCab is a Nigerian ride-hailing service that operates in Lagos. It offers reliable transportation options with well-trained drivers, multiple payment methods, and the ability to book in advance or request immediate rides.

These ride-hailing services typically require users to download their respective mobile applications, create an account, and provide necessary details such as pickup and drop-off locations. Payment is usually made through the app, using methods like cash, credit/debit cards, or mobile wallets.

Lagos BRT

Lagos BRT is a bus rapid transit system that operates in Lagos, Nigeria. It is a popular option for commuters as it is affordable, reliable, and efficient. BRT buses have dedicated lanes, which means that they do not have to contend with traffic, and they also have designated stops, so you can easily get on and off.

BRT buses are typically less expensive than taxis or ride-hailing cars. They also offer a more reliable and efficient way to commute, as they are not affected by traffic congestion. BRT buses are a good option for commuters who are looking for a cheap, reliable, and efficient way to get around Lagos.

Here are some of the things to consider when using Lagos BRT:

• Peak hours: BRT buses can be crowded during peak hours, so it is best to avoid traveling during these times if possible.
• Security: BRT buses are generally safe, but it is important to be aware of your surroundings and take precautions to protect yourself from theft or other crimes.
• Weather: BRT buses are not air-conditioned, so it can be hot and uncomfortable to travel during the summer months.

Overall, Lagos BRT is a good option for commuters who are looking for a cheap, reliable, and efficient way to get around Lagos.

Cost of commuting in Nigeria

The cost of using commuting with ride-hailing apps in Nigeria can vary depending on several factors, including the city, distance travelled, time of day, demand, and the type of service you choose.

Uber, for instance, typically uses a dynamic pricing model, which means that fares can fluctuate based on these factors.

To get an estimate of the cost before booking a ride, you can use their mobile apps.

Simply enter your pickup and drop-off locations, select the type of service you prefer, and the app will provide you with an estimated fare range.

This estimate takes into account the distance, time, and current demand in your area.

Keep in mind that additional charges may apply in certain situations, such as surge pricing during periods of high demand, toll fees, or airport surcharges. These additional costs will be clearly displayed in the app before you confirm your ride.

It's important to note that pricing structures and rates can vary between cities and regions, so it's advisable to check the app or website for specific information relevant to your location.

Here is a comparison of the prices between Uber, Bolt, OgaTaxi, PickMeUp, GidiCab , Rida, LagRide and Lagos BRT:

It is important to note that these prices are just estimates and may vary depending on the time of day, the location, the type of vehicle you select and the prevailing economic situation. You can always check the app's fare estimator before you book a ride to get an accurate estimate of the cost.

How to Save Money on Commuting

Reducing transportation expenses can be an effective way to save money and live a more sustainable lifestyle. Here are seven ways you can reduce your transportation expenses:

Carpooling

Share rides with friends, neighbours, or coworkers who have similar commuting routes. By carpooling, you can split the cost of fuel and parking, reducing your overall transportation expenses.

Use public transportation

Utilize buses, trains, trams, or subways for your daily commute or whenever feasible. Public transportation is generally cheaper than owning and maintaining a car, and it can also save you the hassle of parking and traffic.

Bike or walk

Consider cycling or walking for shorter distances instead of relying on motorized transportation. Not only will this help you save money on fuel, parking, and maintenance, but it's also a healthier option.

Opt for fuel-efficient vehicles

If owning a vehicle is necessary, choose a fuel-efficient car or hybrid vehicle. These vehicles have lower fuel consumption, resulting in cost savings over time. Additionally, electric vehicles (EVs) are becoming increasingly popular, providing an environmentally friendly alternative that can reduce your fuel costs.

Plan your trips efficiently

Combine multiple errands into one trip to minimize the number of times you need to use your vehicle. This way, you can reduce fuel consumption and save time. Consider using smartphone apps or navigation systems to find the most efficient routes and avoid unnecessary detours.

Maintain your vehicle

Regularly maintain your car to keep it in optimal condition. Proper tire inflation, routine oil changes, and regular tune-ups can improve fuel efficiency and prevent costly repairs in the long run.

Explore employer benefits

Check if your employer offers commuter benefits or subsidies. Some companies provide pre-tax commuter benefits, allowing you to pay for transportation costs using pre-tax income, which can result in savings.

Bike or walk

If feasible, consider biking or walking to work. Not only is it a cost-effective option, but it also promotes physical activity and is environmentally friendly. Invest in a sturdy bike and appropriate safety gear if you choose this option.

Consider working remotely

Inquire if your employer offers work-from-home options. Working remotely a few days a week can significantly reduce commuting costs, as you won't need to spend money on transportation for those days.

Saving money on commuting requires planning and potentially making some lifestyle adjustments. However, by implementing these strategies, you can significantly reduce your transportation expenses and save money in the long run.

At nairaCompare, we are committed to providing you with all the information you need to help you make informed financial decisions. Visit nairaCompare to compare rates of loans and savings accounts and select the one that’s best for you!