Ride-hailing service is cutting down prices in Lagos

Taxify has announced that it will be cutting down its prices in Lagos starting today, Thursday 4, 2017.

According to Taxify, the move is informed by “the need to actively transform the way people move across Lagos” and it will be implementing the changes across the state.

“We want to be affordable to everyone, and in the process guarantee safe, reliable and comfortable rides at the tap of a button. It’s more convenient for people and also good for reducing the traffic in the city,” Taxify said in a statement.

The end result here is that riders will get more for less and Taxify drivers will be able to earn more than they would on Uber or other competing ride-hailing platforms.

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Here are Taxify’s new rates:

₦ 200 start
₦ 55 per KM
₦ 5.5 per min
Taxify commissions are 15%

“Our focus is to provide drivers with better revenue per ride and keeping them happy with earnings and support we provide, which leads to ultimately better service for clients,” the company said.

That is a great news for people that use Taxify, but I am not sure how that reflects on the company’s bottom line. It still doesn’t have as many drivers or riders as Uber and complaints from people that have used Taxify don’t seem to be reducing. We'll see how this helps Taxify's cause.