Another Company Shuts Down Operations in Nigeria One Month After Uber Exit
- Moove, the Uber-backed mobility firm, ended its Nigerian operations on Thursday, October 8, 2026
- The company said it would transfer vehicles worth about N35 billion to eligible customers who had been operating them
- Moove's co-founder confirmed that over 9,000 customers had used its products in Nigeria
PAY ATTENTION: Mark Legit.ng as a preferred source, and our content will appear higher in your Google feed!
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Moove, the vehicle financing and mobility company backed by Uber, has ended its operations in Nigeria, closing its doors in the same market where it was originally founded.
The shutdown took effect on Thursday, October 8, 2026, roughly one month after Uber itself wound down its 12-year presence in Nigeria and Uganda following a review of how it allocates investment across the African continent.
Source: Getty Images
Moove transfers vehicles to Nigerian customers
Rather than simply shutting down, Moove said it would hand over vehicles worth approximately N35 billion ($26.3 million) to eligible customers currently using them through its Drive-to-Own and rental products.
Those customers will not be required to make any additional payments to Moove for the vehicles. Staff members will also receive a free car as part of the company's exit arrangements.
Ladi Delano, Moove's co-founder, co-CEO and advisory board chairman, said more than 9,000 customers had used the company's products in Nigeria.
He said those customers "generated approximately N57 billion in revenue through Moove-financed vehicles", adding that the figures represented "Nigerians earning money, supporting their families and building their futures."
Nigeria exit follows Uber's departure
Moove's withdrawal adds to a turbulent period for Nigeria's ride-hailing sector.
Uber announced its Nigerian and Ugandan shutdown in September 2026, citing a reassessment of its investment priorities across Africa.
The company said its operations elsewhere on the continent would not be affected, the Cable reports.
Reports later emerged that Uber was preparing to cut about 3,000 jobs globally as part of a broader restructuring linked to its Africa pullback.
With both companies now out of the Nigerian market, platforms including Bolt, inDrive and LagRide are among those left to serve demand for app-based transport services in the country.
Source: Getty Images
Moove's global business remains active
Moove said the Nigerian closure does not signal the end of its wider business.
The company currently operates 42,000 vehicles across 29 cities internationally, suggesting the decision is specific to its Nigerian business rather than a global retreat.
For customers in Nigeria, the vehicle transfer arrangement offers a path to outright ownership of cars they had been driving under Moove's financing scheme, potentially softening the impact of the company's departure.
Bolt releases statement
Earlier, Legit.ng reported that Ride-hailing company Bolt has publicly declared its intention to stay in Nigeria after Uber announced it was pulling out of the country after 12 years, effective September 2, 2026.
In a statement, Teddy Appa-Dankyi, senior general manager of Bolt West Africa, said Nigeria continues to hold significant importance for the company.
He noted that Nigeria remains an important market for Bolt, and we remain firmly committed to the country
Source: Legit.ng
