After six years in Nigeria, Moove is exiting the market and transferring eligible vehicles to customers while giving staff free cars.
Moove, the global mobility company founded in Lagos, has announced plans to shut down its operations in Nigeria and transfer ownership of eligible vehicles worth approximately N35 billion to existing customers.
The company disclosed the decision in a statement on Thursday, six years after launching its Nigerian operations, saying customers who qualify for the transfer will become full owners of the vehicles they currently operate, with no further payment to Moove required for the vehicles from October 1, 2026.
Moove also announced that it will give free cars to all its staff members as a gesture of appreciation for their contribution to building the business in Nigeria.
Moove’s exit from Nigeria
The decision comes just over a month after global ride-hailing company Uber discontinued its operations in Nigeria, adding another major development to the country’s changing mobility landscape.
Uber was an investor in Moove and led the company’s $100 million Series B funding round in 2024, which valued Moove at approximately $750 million.
Moove was founded in 2020 by Ladi Delano and Jide Odunsi, who said they started the company after identifying a major financing gap among mobility entrepreneurs in Nigeria. Many drivers wanted to earn through mobility services but struggled to access the vehicles and financing required to operate.
The company began in Lagos with 76 vehicles and developed its Rental & Drive-to-Own model, allowing mobility entrepreneurs to access new vehicles while working towards ownership.
According to Moove, the model developed in Lagos eventually became the foundation for an international business that now operates about 42,000 vehicles across 29 cities globally.
N35bn in vehicles to customers
Moove said the transfer of eligible vehicles is intended to recognise the contribution and loyalty of its Nigerian customers, who helped establish the company when it was still in its early stages.
Ladi Delano, Moove’s co-founder and advisory board chairman, said more than 9,000 customers had used the company’s Drive-to-Own and rental products in Nigeria.
He said those customers generated approximately N57 billion in revenue through vehicles financed by Moove, describing the figures as a reflection of people earning incomes, supporting their families and building their futures through the platform.
“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,” Delano said.
Under the exit arrangement, eligible vehicles valued at approximately N35 billion will pass into the full ownership of the customers who operate them, without additional payment to Moove for the vehicles themselves.
‘Nigeria will always be where Moove started’
Delano said Nigeria remained central to Moove’s history, despite the company’s decision to end its operations in the country.
“Nigeria is where Moove began, and everything we have built since carries something of Lagos with it,” he said, recalling that the company was created to give hardworking mobility entrepreneurs access to vehicles and financing.
He said Moove’s first customers trusted the company when it was still an idea and that their support helped make its subsequent international expansion possible.
“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,” Delano said.
“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.”
Delano also thanked Moove’s Nigerian employees for helping establish and grow its operations, as the company prepares to conclude its six-year presence in the country.
