Uber Exits Nigeria After 12 Years Amid Startup Closures

Uber announced its exit from Nigeria after 12 years of operations, with the wind-down set to begin on September 2, 2026. The decision follows a review of its business amidst a challenging operating environment for Nigeria's technology sector.

Over the past three years, numerous startups have faced difficulties leading to closures. Notable examples include Gigbanc, which began winding down in July 2026 after three years, citing a tough fundraising environment and high compliance costs.

Chimoney, a fintech founded in Canada, ceased new transactions on April 30, 2026, before shutting down due to limited funding. GoLemon, a grocery delivery startup, shut down in July 2026 after failing to secure additional funding despite positive margins on orders.

Lidya, a digital lender, closed in 2025 after nearly a decade, facing severe financial distress. Okra, an open-banking startup, ceased operations in May 2025 after raising over $16 million.

These closures highlight the difficulties faced by startups in Nigeria's fintech landscape.