Moove, the global mobility company founded in Lagos, has announced plans to shut down its operations in Nigeria and transfer eligible vehicles worth about ₦35 billion to existing customers.
The company made the announcement in a statement on Thursday, six years after it started operations in Nigeria.
Moove said customers who qualify for the vehicle transfer would become full owners, with no further payment required for the vehicles from October 1, 2026.
The company also announced plans to give free cars to all its staff members as part of its appreciation for their contributions.
Moove began operations in Nigeria with 76 vehicles in Lagos and developed its Rental & Drive-to-Own model to help mobility entrepreneurs access vehicles and eventually own them.
According to the company, its Lagos operations later grew into a global business with 42,000 vehicles across 29 cities.
Ladi Delano, Moove’s co-founder and advisory board chairman, said more than 9,000 customers had used the company’s Drive-to-Own and rental products in Nigeria.
He said the customers generated approximately ₦57 billion in revenue through Moove-financed vehicles.
Delano said transferring the eligible vehicles to customers was Moove’s way of showing appreciation to those who supported the company from its early days.
“Nigeria will always be where Moove started,” he said, adding that the company would continue expanding internationally while ensuring its global growth did not erase its Nigerian roots.
Moove was founded in 2020 by Delano and Jide Odunsi to provide vehicle financing for mobility entrepreneurs who struggled to access funding to acquire vehicles.
The company’s decision to leave Nigeria comes just over a month after global ride-hailing company Uber discontinued its operations in the country.
Uber led a $100 million Series B funding round for Moove in 2024, valuing the mobility company at $750 million.
Delano also thanked Moove’s Nigerian employees for their role in building the company’s operations in the country.
