Why Moove is leaving Nigeria after six years opeation

• Moove is leaving Nigeria after six years, handing eligible drivers vehicles worth about ₦35 billion with no further payments from October 2026
• Uber’s exit, naira weakness and pressure on drivers’ earnings offer context for Moove’s withdrawal, though the company has not confirmed its reasons
• Moove is shifting towards robotaxi fleet operations abroad, while its Nigerian exit brings drivers relief but ends a local vehicle-financing option

Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.

Six years after starting with 76 cars in Lagos, Moove is leaving Nigeria, closing the chapter on the market that helped build its global business.

For eligible drivers, however, the departure comes with a significant reward: outright ownership of the vehicles they have been paying to acquire.

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.

Why is Moove leaving Nigeria?

Moove has not publicly stated a specific reason for its withdrawal. However, its close relationship with Uber, pressure on drivers’ earnings and growing investment in autonomous vehicles provide important context.

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. Its departure therefore disrupted more than a commercial relationship.

Moove’s model allowed drivers to access cars and repay their cost from ride-hailing income. Earnings and performance data helped the company assess borrowers and structure repayments.

Losing its principal platform partner would complicate that arrangement. However, this remains an explanation drawn from the business model, rather than a reason formally confirmed by Moove.

Naira weakness and repayments squeezed drivers

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 consequently created a difficult mismatch: repayments could rise in local currency without delivering equivalent dollar returns.

Reports cited in the company’s operating history show weekly remittances climbing from ₦56,400 in 2023 to ₦112,200 by 2025, according to a TechCabal report.

For drivers, the burden extended beyond repayments. 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. Drivers wanted access to competing platforms to improve their chances of finding passengers.

Together, these pressures exposed the vulnerability of financing long-term assets through uncertain daily earnings.

A growing focus on America’s robotaxis

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. It also showed how far the company’s ambitions had moved beyond its original Lagos financing operation.

What the handover means for drivers

For eligible customers, ownership removes future vehicle repayments to Moove and provides an asset they can continue 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.

The exit leaves a mixed legacy: relief for drivers receiving their cars, alongside the loss of a financing route in the country where the business began.

inDrive cuts commission to 1% in two cities

Legit.ng earlier reported that ride-hailing company inDrive has restored its 1% commission initiative in two South African cities, offering drivers relief from rising petrol prices and highlighting the importance of platform charges to earnings.

For Nigerian drivers facing fuel bills and other operating expenses, the announcement offers a practical example of how lower deductions can protect earnings.

Source: Legit.ng