Bolt Nigeria, a ride-hailing platform, is now giving short-term loans to drivers through its platform in collaboration with Advancly, a credit technology company.

The cooperation intends to meet drivers' financial needs by allowing them to get upfront earnings and the two companies believe this will increase their productivity.

The financing scheme would be tested with drivers in Lagos and Abuja. According to Lolia Kienka, Advancly's country manager for Nigeria, the cooperation intends to provide financial solutions to those who work in the gig economy.

Kienka said: "The gig economy is playing a vital role in shaping the future of business for independent workers and this partnership reaffirms our commitment to enable entrepreneurs to grow on their own terms by providing them with access to credit."

Yahaya Mohammed, country manager of Bolt Nigeria, added: "We recognise how important financial security is in the lives of our drivers. In addition to our platform, we are thrilled to provide them with extra resources to assist them manage their money, provide outstanding service to riders, and eventually expand their companies with Bolt."