Lagos-founded global mobility company Moove has announced plans to discontinue its operations in Nigeria six years after its launch.
As part of its market exit, the company revealed on Thursday that it will transfer full ownership of eligible vehicles valued at approximately ₦35 billion to current customers at no cost. Effective October 1, 2026, the recipients will become the sole owners of the vehicles without any requirement for further payments.
Announcing the transition on Thursday, October 8, 2026, the company framed the decision as a “Thank You Nigeria” initiative, acknowledging the customers, staff, partners, and local communities that supported its evolution from a Lagos start-up into a global mobility firm.
Moove confirmed that as it winds down operations nationwide, it will engage directly with affected clients to complete the vehicle title transfers.
Founded in Lagos in 2020 by Ladi Delano and Jide Odunsi to address car financing barriers facing mobility entrepreneurs, the company launched its operations with a fleet of 76 vehicles utilizing a Drive-to-Own model that allowed drivers to acquire vehicle ownership over time.
Moove stated that the operational model developed in Nigeria provided the blueprint for its global expansion, with the company now managing a fleet of over 42,000 vehicles across 29 international markets.
Since its Nigerian debut, the firm’s Drive-to-Own and rental platforms have served more than 9,000 customers, generating nearly ₦57 billion through Moove-financed vehicles. Beyond vehicle financing, the company emphasized its broader economic impact in sustaining livelihoods for drivers, their dependents, and ancillary mobility businesses.
Ladi Delano, Moove’s co-founder, co-CEO, and Advisory Board Chairman, noted that despite the cessation of local operations, Nigeria remains foundational to the company’s history and global trajectory.
Backstory…
Moove’s exit from the Nigerian market follows the recent departure of ride-hailing giant Uber, which ended its 12-year presence in the country on September 2, 2026.
Uber cited a strategic realignment of its regional investment priorities and business focus across Africa as the reason for its shutdown.
The platform, which first launched in Lagos in 2014, communicated the decision through an official email sent directly to its customers. Uber explained that the move to cease operations followed a comprehensive performance and business review.
Uber’s departure itself came amid mounting challenges in Nigeria’s ride-hailing sector. Rising fuel, vehicle maintenance and imported spare-parts costs have squeezed drivers, while competition among platforms has kept pressure on fares.
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