A global mobility company founded in Lagos, Moove, has announced plans to end its operations in Nigeria and transfer ownership of eligible vehicles valued at approximately N35 billion to existing customers.
The company disclosed this in a statement on Thursday, six years after commencing operations in the country.
According to Moove, eligible customers will gain full ownership of the vehicles without making any further payments to the company for them from October 1, 2026.
The company also announced plans to give free cars to all its employees in appreciation of their contributions.
Moove’s decision comes slightly over a month after global ride-hailing company Uber discontinued its operations in Nigeria.
Uber previously invested in Moove, leading a $100 million Series B funding round for the mobility company in 2024, which valued it at $750 million.
Moove was founded in 2020 by Ladi Delano and Jide Odunsi after they reportedly “saw that many mobility entrepreneurs in Nigeria wanted to earn through mobility but could not access the vehicle financing they needed”.
In its statement, the company said it started with 76 vehicles in Lagos and introduced its ‘Rental & Drive-to-Own’ model to help mobility entrepreneurs access new vehicles and work towards ownership.
Moove added that the business it established in Lagos had grown into an international operation with 42,000 vehicles across 29 cities worldwide.
‘Nigeria will always be where Moove started’
Ladi Delano, Moove’s co-founder and advisory board chairman, said Nigerian customers trusted the company when it was still an idea.
“Nigeria is where Moove began, and everything we have built since carries something of Lagos with it. Jide and I started the company because talented, hardworking mobility entrepreneurs wanted the opportunity to earn, but could not get access to the vehicles and finance they needed,” Delano said.
“Our first customers trusted us when Moove was still an idea, and that trust made everything that followed possible and for that we ‘thank you’”
Delano disclosed that more than 9,000 customers had used the company’s Drive-to-Own and rental products in Nigeria.
“Their work generated approximately N57 billion in revenue through Moove-financed vehicles. Those numbers matter because they represent people earning, supporting their families and building their own futures,” he said.
He explained that transferring ownership of the vehicles was intended to demonstrate the company’s appreciation for its customers.
“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.
“As we conclude our operations, we want our actions to reflect our gratitude. Eligible vehicles worth approximately N35 billion will pass into full ownership of the customers who operate them, with no further payment to Moove required for the vehicles themselves.
“Nigeria will always be where Moove started. As we continue to grow internationally, we will do everything we can to make Nigeria proud and to build a lasting global success story that never forgets where it began. Wherever Moove goes next, our story will always start in Lagos.”
Delano also expressed gratitude to the company’s Nigerian employees for their role in building its operations.