Just a month after the exit of Uber, a global mobility company founded in Lagos Moove, has announced plans to end operations in Nigeria too.
The company announced this decision on Thursday just six years after it began operations in Nigeria.
According to the company, customers will get total ownership of eligible vehicles to existing customers with no further payment required to the company for the vehicles from October 1, 2026.
Speaking on the decision, Moove Co-Founder, Co-CEO and Advisory Board Chairman, Ladi Delano, said Nigeria remained at the heart of the company’s history and growth.
“Nigeria is where Moove began, and everything we have built since carries something of Lagos with it. Jide and I started the company because talented, hard working mobility entrepreneurs wanted the opportunity to earn, but could not get access to the vehicles and finance they needed.
“More than 9,000 customers have used our Drive-to-Own and rental products in Nigeria. Their work generated approximately N57 billion in revenue through Moove-financed vehicles.
“This is an emotional moment for us. Nigeria gave Moove its beginning, its first customers and many of the people who built the foundations of our company. As we conclude our operations, we want our actions to reflect our gratitude.
“Eligible vehicles worth approximately N35 billion will pass into full ownership of the customers who operate them, with no further payment to Moove required for the vehicles themselves.
“To our Nigerian team, thank you. Your commitment, resourcefulness and belief in the mission carried Moove through its earliest and most important years. You turned an idea that began in Lagos into a company that now operates across 29 cities globally.
“To our customers, thank you for partnering with us and realising our collective ambitions. To our partners, regulators and the wider community, thank you for supporting a young Nigerian company and helping it grow into a global business.
“Nigeria will always be where Moove started. As we continue to grow internationally, we will do everything we can to make Nigeria proud and to build a lasting global success story that never forgets where it began. Wherever Moove goes next, our story will always start in Lagos,” he said.
One month after Uber exit, another company ends operations in Nigeria