Company News

Bolt Seeks to Address Under-Representation of Women in The Mobility Sector, Pledges €2.5M

Published

1 year ago

May 17, 2023

Mobility company that offers ride-hailing, micro-mobility rental, food and grocery delivery, and car-sharing services, Bolt has pledged the sum of €2.5m to attract female drivers in Nigeria and other countries.

The company via a statement disclosed that the pledge is part of Bolt’s newly launched campaign called “Women at the Wheel”, which is aimed at raising awareness against some stereotypes held against female drivers in the mobility industry.

Speaking on the campaign, Bolt’s Director of Central Operations for Ride-hailing Venus Lim said,

“Women are under-represented in many parts of society, but in the mobility sector, the inequality is particularly stark. There are many reasons why many women are unlikely to consider becoming a driver and this campaign aims to raise awareness of some of the prejudices held against female drivers and make it easier for women to access flexible, independent work on Bolt and other ride-hailing platforms something which is particularly important now when the cost of living is going up for everyone”.

Also speaking on the ‘Women on the Wheel Campaign’, is Yahaya Mohammed, Country Manager for Bolt Nigeria, who commended the company for offering opportunities to empower women in the ride-hailing industry.

In his words, “As a business, we value all our drivers and recognize that they play an integral role in the continued growth of our brand, and we do not take their commitment and efforts for granted. Achieving gender equality and empowering all women and girls (UN SDG 5) is a key pillar of our work.

“We at Bolt believe that we have an opportunity to contribute to bridging the gender gap by allowing women to be self-employed in the digital e-hailing space. Through the Women at the Wheel campaign, we endeavor to continue offering more women in Nigeria, viable economic opportunities to empower them, whilst also advancing the growth of the industry in the market”.

He further added that the company remains committed to also ensuring the safety of women both as drivers and riders on its platform, which is why they are constantly reviewing and innovating more safety features, to ensure quality measures are in place to deliver the right experience.

Investors King understands that the ‘Women at the Wheel’ campaign is running in Nigeria, and across several European countries which include; Poland, Latvia, Portugal, Azerbaijan, Romania, Czech Republic, Croatia, Lithuania, Slovakia, and Estonia.

It is understood that female riders are up to four times safer than their male counterparts, yet only a very small percentage of drivers in the mobility industry are women. With Bolt’s ‘Women at the Wheel’ campaign, hopefully, the underrepresentation of women in the mobility sector will be bridged.

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Company News

Dangote Refinery Denies NNPC Petrol Lifting Claims Amid Ongoing Contract Talks

Published

3 days ago

September 5, 2024

Samed Olukoya

Dangote Refinery has refuted claims that the Nigerian National Petroleum Corporation (NNPC) had begun lifting petrol from the refinery and set the pump price at N897 per litre.

In the BusinessDay publication, the newspaper reported that NNPC commenced petrol lifting on Wednesday and set the pump price at N897/litre.

Anthony Chiejina, the Group Chief Branding and Communications Officer of Dangote Refinery clarified that NNPC has not yet begun lifting Premium Motor Spirit (PMS) from the refinery.

According to Chiejina, discussions between Dangote Refinery and NNPC on the contract for petrol lifting are still ongoing and have yet to be finalized.

Chiejina said since no petrol has been lifted, the claim of setting a price for the product is unfounded.

He further noted that the pricing of PMS falls under the jurisdiction of the government and is strictly regulated, meaning Dangote Refinery has no authority to set prices independently.

The company assured Nigerians that once operations begin, the refinery will deliver high-quality petroleum products across the country.

Chiejina urged the public to disregard the misleading headline and assured that accurate information will be provided as the refinery prepares to commence full operations.

The statement concluded by reiterating Dangote Refinery’s focus on contributing to Nigeria’s energy sector and meeting the nation’s demand for top-tier petroleum products.

Company News

Volvo to Launch Electric Truck With 600 km Range

Published

5 days ago

September 3, 2024

Samed Olukoya

Up to 600 km on one single charge. That’s how far Volvo’s next-generation heavy-duty electric truck will be able to drive. The longer range represents a breakthrough for long-distance transport with zero tailpipe emissions.

The electrification of heavy trucks is continuing across the world and longer distances are now becoming a possibility.

Next year Volvo will launch a new long-range version of its FH Electric that will be able to reach up to 600 km on one charge.

This will allow transport companies to operate electric trucks on interregional and long-distance routes and to drive a full working day without having to recharge. The new Volvo FH Electric will be released for sale during the second half of 2025.

“Our new electric flagship will be a great complement to our wide range of electric trucks and enable zero-exhaust emission transport also for the longer distances. It will be a great solution for transport companies with a high annual mileage on their trucks and with a strong commitment to reduce CO2,” says Roger Alm, President Volvo Trucks.

Five years of electric leadership

The enabler for the 600 km range is Volvo’s new driveline technology, the so-called e-axle, which creates space for significantly more battery capacity onboard. More efficient batteries, a further improved battery management system and overall efficiency of the powertrain also contribute to the extended range.

Volvo Trucks is a global leader in medium- and heavy-duty electric trucks with eight battery-electric models in their portfolio.

The wide product range makes it possible to electrify city and regional distribution, construction, waste management and, soon, long distance transport. Volvo has so far delivered more than 3,800 electric trucks to customers in 46 countries around the world.

“The transport sector represents seven percent of global carbon emissions. Battery-electric trucks are important tools to reduce the climate footprint. Besides the important environmental gains that electric trucks bring, they offer truck drivers a much better working environment, with much lower levels of noise and vibrations,” says Roger Alm.

Volvo Trucks drives the transition towards fossil-free transport to reach its net-zero emissions target by 2040 using a three-path technology strategy.

The three-path technology approach is built on battery electric, fuel cell electric and combustion engines that run on renewable fuels like green hydrogen, biogas or HVO (Hydrogenated Vegetable Oil).

Company News

Dangote Refinery Starts Gasoline Output Amid NNPC’s Struggles with $6 Billion Debt

Published

6 days ago

September 2, 2024

Samed Olukoya

Nigeria’s Dangote Refinery has begun processing gasoline after delays caused by recent crude shortages, an executive said on Monday.

The $20 billion refinery on the outskirts of Lagos, built by Nigerian billionaire Aliko Dangote, began operations in January with output of products including naphtha and jet fuel.

With a capacity of 650,000 barrels per day, Africa’s largest refinery promises to ease oil producer Nigeria’s costly reliance on imported oil products.

“We are testing the product (gasoline) and subsequently it will start flowing into the product tanks,” said Devakumar Edwin, a vice president at Dangote Industries Limited.

He did not say exactly when the gasoline would hit the local market.

Edwin said state-oil firm NNPC Ltd, Nigeria’s sole importer of gasoline, would buy its gasoline exclusively.

“If no one is buying it, we will export it as we have been exporting our aviation jet fuel and diesel,” Edwin said.

The delivery of gasoline into the Nigerian market will ease NNPC’s struggle to supply the local market.

The company is reeling with debts of $6 billion to oil traders for supply since January.

This has affected its ability to supply the local market where fuel queues have persisted since July.

Prices have jumped by 45% from the official price of 617 naira ($0.3942) announced after subsidies were removed last year.

“The news that Dangote is processing gasoline couldn’t come at a more crucial time given NNPC’s statement about its difficulties securing imported supply due to financial strain,” said Clementine Wallop, director, sub-Saharan Africa at political risk consultancy Horizon Engage.

She said this “prompts the question of how NNPC will manage purchasing from Dangote, and impresses the need for greater transparency in its finances”.

Nigeria is Africa’s top oil producer yet it imports almost all its fuel due to years of neglect of its national refineries.