Lagos-founded global mobility company Moove has announced the end of its operations in Nigeria, six years after commencing business in the country.
Under the new arrangement, eligible customers will take full ownership of the vehicles they currently operate, with no further payments to Moove required for the vehicles from October 1, 2026.
The company also announced plans to give free cars to all its employees in recognition of their contributions to the business.
Moove’s exit from Nigeria comes slightly more than a month after global ride-hailing company Uber ended its operations in the country.
Uber, which backed Moove, led the company’s $100 million Series B funding round in 2024, valuing Moove at $750 million at the time.
Moove was founded in 2020 by Ladi Delano and Jide Odunsi after identifying the difficulties mobility entrepreneurs in Nigeria faced in securing vehicle financing.
The company started with 76 vehicles in Lagos and introduced its “Rental & Drive-to-Own” model, allowing mobility entrepreneurs to access new vehicles while working towards ownership.
Moove said its Lagos operations eventually grew into an international business, with about 42,000 vehicles operating across 29 cities worldwide.
Ladi Delano, Moove’s co-founder and advisory board chairman, said Nigerian customers had supported the company from its earliest days.
“Nigeria is where Moove began, and everything we have built since carries something of Lagos with it,” Delano said.
He said Moove was established to help mobility entrepreneurs gain access to vehicles and financing that had previously been difficult to secure.
Delano said more than 9,000 customers had accessed Moove’s Drive-to-Own and rental services in Nigeria, generating about N57 billion in revenue through vehicles financed by the company.
According to him, the figures also reflect the livelihoods supported through Moove’s platform, including customers who earned incomes, supported their families and pursued greater financial independence.
He said transferring the vehicles to eligible customers was a way of recognising their contribution to Moove’s growth.
“This is an emotional moment for us. Nigeria gave Moove its beginning, its first customers and many of the people who built the foundations of our company,” Delano said.
He added that vehicles worth approximately N35 billion would be transferred to eligible customers, who would take full ownership without making further payments for the vehicles themselves.
Delano said Nigeria would remain an important part of Moove’s identity as the company expands internationally, adding that its global journey would remain rooted in Lagos.
He also thanked Moove’s Nigerian employees for their contributions to building and expanding the company’s operations in the country.
