Moove Exits Nigeria After Six Years, Hands Eligible Drivers ₦35bn Worth of Vehicles

Moove is leaving Nigeria six years after it started with 76 cars in Lagos. The mobility company announced on October 8 that eligible vehicles valued at approximately ₦35 billion would pass to their current operators, with no further vehicle payments required from October 1, 2026.

It also promised every employee a free car.

What drivers get

For eligible drivers, the exit brings outright ownership of the vehicles they have been paying to acquire. Ownership removes future vehicle repayments to Moove and hands them an asset they can keep using to earn.

But the ₦35 billion valuation should not be confused with debt forgiveness of the same amount. Moove has not disclosed how much recipients collectively still owed.

Why the exit makes sense

Moove has not publicly stated a specific reason for its withdrawal. The announcement followed Uber's September 2 exit from Nigeria after 12 years. Uber was both an investor in Moove and a crucial partner in its Nigerian vehicle-financing business.

Moove's model allowed drivers to access cars and repay the cost from ride-hailing income. Earnings and performance data helped it assess borrowers and structure repayments. Losing its principal platform partner would complicate that arrangement, though this is an explanation drawn from the business model, not a reason formally confirmed by the company.

Even before Uber's departure, Moove's Nigerian operations faced tensions over affordability. Part of its fleet financing involved dollar-denominated debt while drivers earned naira. Currency depreciation created a difficult mismatch, as repayments could rise in local currency without delivering equivalent dollar returns.

Weekly remittances climbed from ₦56,400 in 2023 to ₦112,200 by 2025, according to a TechCabal report cited in the company's operating history. Fuel, maintenance and household expenses competed for earnings, while complaints about weak ride demand raised questions about meeting weekly targets. Restrictions tying drivers to Uber also became contentious, with drivers wanting access to competing platforms to improve their chances of finding passengers.

The robotaxi pivot

While its Nigerian business struggled, Moove was building a different growth story abroad. In December 2024, it announced a partnership with Waymo to manage autonomous vehicle fleets, facilities and charging infrastructure, beginning in Phoenix and expanding to Miami. That agreement positioned Moove to earn from operating fleets serving the emerging robotaxi industry.

For Nigerian drivers facing fuel bills and other operating expenses, the choices of platform operators matter. Ride-hailing company inDrive has restored its 1% commission initiative in two South African cities, a move that offers drivers relief from rising petrol prices and highlights how platform charges shape earnings.

What it means

Moove's exit ends a local vehicle-financing option in the country where the business began. The legacy is mixed: relief for drivers who now own their cars, alongside the loss of a route that let operators without capital acquire vehicles and repay from daily earnings.