From the Nigeria Magazine Desk
Nigerian-founded mobility company Moove is ending its operations in Nigeria, marking another significant development in the country’s ride-hailing industry following Uber’s exit from the market in September 2026.
In a statement shared with TechCabal, Moove said eligible vehicles valued at approximately ₦35 billion ($26.3 million) would be transferred into the full ownership of the customers currently operating them, without requiring further payments to Moove for the vehicles themselves.
The decision offers some relief to customers who have relied on the company’s vehicle financing and rental programmes to earn a living through ride-hailing services.
According to Ladi Delano, Moove’s co-founder, co-CEO and advisory board chairman, more than 9,000 customers have used the company’s Drive-to-Own and rental products in Nigeria. The vehicles financed by Moove generated approximately ₦57 billion in revenue for those customers.
“Those numbers matter because they represent people earning, supporting their families and building their own futures,” Delano said in the statement.
The company also announced that its staff members would each receive a free car as part of its exit arrangements.
Moove’s departure comes shortly after Uber ended its Nigerian operations after 12 years in the country. The developments raise fresh questions about the sustainability of ride-hailing business models in Nigeria and the challenges facing mobility companies operating in the market.
Despite its exit from Nigeria, Moove said it operates approximately 42,000 vehicles across 29 cities globally, reflecting its continued international presence.
The transfer of eligible vehicles to customers represents a notable outcome for drivers and other customers who participated in Moove’s financing programmes, even as the company brings its Nigerian operations to a close.
The broader impact of Moove’s exit on drivers, customers and Nigeria’s ride-hailing ecosystem remains to be seen.
