Uber Exits Nigeria After 12 Years Amid Rising Costs

Uber has officially exited Nigeria, concluding 12 years of operations on September 2, 2026. The company, which began its services in Lagos in 2014 and expanded to other cities, made this decision following a business review amid rising fuel costs, inflation, currency volatility, and increased competition.

Uber's departure is part of a broader trend of multinational companies withdrawing from Nigeria, which has seen significant corporate exits in various sectors, including oil and gas, pharmaceuticals, and retail. Notably, South African retailer Shoprite announced its exit in 2020, completing the sale of its Nigerian supermarket business in 2021 to local investors led by Ketron Investment.

This trend raises concerns about the potential loss of manufacturing capacity, investment, jobs, and technology in Nigeria, even as products from these companies continue to be available locally. Other companies like Bolt and Jumia have also scaled back operations in Nigeria, particularly in food delivery services, citing similar challenges.