Moove Exits Nigeria, Grants Drivers ₦35 Billion in Cars

Moove announced its exit from Nigeria, closing operations six years after starting with 76 cars in Lagos. On October 8, the mobility company revealed that eligible drivers would receive ownership of vehicles valued at approximately ₦35 billion, with no further payments required from October 1, 2026.

Additionally, every employee will receive a free car. The withdrawal follows Uber's exit from Nigeria on September 2 after 12 years, which disrupted Moove's business model that relied heavily on its partnership with Uber for vehicle financing.

Moove's financing model allowed drivers to repay vehicle costs from ride-hailing income, but the departure of Uber complicated this arrangement. Moove's operations faced challenges, including currency depreciation affecting repayments and tensions over driver earnings.

Despite struggles in Nigeria, Moove has been expanding internationally, including a partnership with Waymo to manage autonomous vehicle fleets.