Mobility Company to Exit Nigeria, Hands Over N35bn Worth of Vehicles to Drivers
Global mobility company Moove is set to end its operations in Nigeria, with eligible customers expected to receive full ownership of vehicles collectively valued at about N35 billion. The Lagos-founded company said the transfer will take effect from October 1, 2026, with beneficiaries no longer required to make further payments for the vehicles.
The decision marks the end of Moove’s six-year operation in its home market, where it built a financing model that enabled drivers, particularly those working with ride-hailing platforms, to access vehicles. Under the exit arrangement, customers who qualify will retain the vehicles they have been using through the company’s financing programme.
Moove was founded by Ladi Delano and Jide Odunsi and has since expanded into an international mobility finance business. Its withdrawal from Nigeria comes at a time when the country’s mobility sector is undergoing significant changes, following the recent exit of another major global mobility company, Uber, from its Nigerian operations.
While Moove’s departure will end its direct operations in the country, the transfer of the vehicles means eligible drivers will leave the arrangement with assets worth billions of naira. The company said the move is part of its strategy to conclude its Nigerian operations while allowing qualifying customers to retain the vehicles financed through its platform.
