Six years after Moove introduced 76 cars to Lagos roads, requiring Uber drivers to pay for them from their earnings, the mobility company is exiting Nigeria, its founding market, and transferring ownership of many of those vehicles to the drivers. Moove announced on Thursday that it will hand over eligible vehicles worth approximately ₦35 billion ($26.3 million) to the drivers, with no further payments due from October 1. Every Moove employee will also receive a free car. This decision comes five weeks after Uber, Moove’s investor and sole ride-hailing partner in Nigeria, exited the country.
In its statement, Moove emphasized, “Nigeria will always be where Moove started,” describing the handover as a way to thank the customers and staff who built the business. The company’s exit is a direct consequence of Uber’s departure, as Moove relied on Uber’s earnings data to determine car allocations and ensure ongoing payments. Without this data, Moove lost its ability to price and collect loans, effectively dismantling its lending model.
A knock-on effect of Uber’s exit
When the International Finance Corporation (IFC) invested in Moove in 2021, it described the company’s product as financing up to 95% of a car’s cost over two to four years, with drivers repaying through a share of their weekly Uber earnings. This model was exclusively tied to Uber, and Moove even shared offices with Uber in Lagos, Johannesburg, and Accra, reinforcing its commitment to this partnership. In 2022, Moove stated it could not generate the necessary data to underwrite loans if drivers used multiple ride-hailing apps, further cementing its Uber-only approach.
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Challenges in the Nigerian market
Moove’s Nigerian operations faced significant hurdles. The company financed part of its fleet with dollar-denominated debt, while drivers earned in naira. The naira’s volatility severely impacted Moove’s pricing structure. In February 2023, drivers paid ₦9,400 daily for Suzuki SUVs priced at ₦11.7 million. By 2025, Moove’s weekly remittance doubled to ₦112,200 ($74), but this was less than the $87 that ₦56,400 was worth in 2023 due to the naira’s depreciation.
Drivers, feeling exploited, went on strike, and the Lagos State chapter of the Nigeria Labour Congress planned a protest at Moove’s office in November. Additionally, demand on Uber Go, the budget category Moove drivers were restricted to, was declining. In January 2025, drivers reported dwindling ride requests, with some missing their targets. Despite Uber losing market share to Bolt and inDrive, Moove kept its drivers tied exclusively to Uber until hours after Uber’s exit in September 2024, when it finally dropped the Uber-only rule.
A shift in focus
Moove’s future lies in robotaxi depots in the United States. In August, the company raised $250 million at a $2.1 billion valuation, with plans to finance self-driving fleets and robot-run depots called Nests. Nigeria, unable to support self-driving technology at scale, is not part of this vision. In December 2024, Waymo, Alphabet’s self-driving car unit, hired Moove to manage fleet operations, depots, and charging in Phoenix and Miami, further solidifying its U.S. focus.
