Weeks after Uber’s exit, Moove shuts down in Nigeria

Moove, a mobility company that finances vehicles for ride-hailing drivers, announced on Thursday that it is ending its operations in Nigeria, six years after it was founded in Lagos.

The exit comes barely five weeks after Uber shut down in Nigeria. On September 2, Uber ended its 12-year presence in the country without giving reasons.

Moove did not say why it was leaving. Its statement focused instead on what it would leave behind. Eligible vehicles worth about ₦35 billion will pass into full ownership of the customers who currently operate them, with no payment to Moove required for the vehicles themselves from October 1, 2026. Every staff member will also receive a free car.

Moove was founded in 2020 by Ladi Delano and Jide Odunsi. They saw that many gig workers in Nigeria wanted to earn a living through mobility but could not get vehicle financing.

The company began with 76 vehicles in Lagos and developed a rent-to-own model to give drivers access to new vehicles and a path to owning them. That Lagos business became the foundation for a company that now operates 42,000 vehicles in 29 cities worldwide.

In Nigeria, Moove served more than 9,000 customers, who earned about ₦57 billion in revenue through its vehicles, according to the company.

“Nigeria is where Moove began, and everything we have built since carries something of Lagos with it,” Delano said.

He described the departure as an emotional moment and said the company would always trace its story back to Lagos. Moove said it would work directly with affected customers and employees as it winds down.

A hard market

Moove’s departure leaves Nigeria’s ride-hailing industry further shaken. When Uber left on September 2, drivers said they learned of the decision in real time, with little warning, and some passengers were on rides when the notice arrived.

Uber said only that it had reached the decision after reviewing its business. It added that the move was specific to Nigeria and Uganda, and was not related to a recent Federal Airports Authority of Nigeria directive on e-hailing at airports. The exits came on the same day Uber announced it was cutting 3,300 jobs worldwide.

Neither company linked its exit to conditions in Nigeria. But operators in the market have faced rising fuel costs, inflation and currency volatility, which have driven up operating expenses and put pressure on drivers and platforms.

Bolt and inDrive are expected to absorb the drivers and riders left behind. That could enlarge their share of the market, but it does not remove the conditions that contributed to Uber’s difficulties.