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• Hands over N35bn vehicles to customers, gives staff free cars
Moove, the mobility financing company founded in Lagos, on Thursday announced plans to end its Nigerian operations and transfer eligible vehicles worth about N35 billion to customers, 36 days after ride-hailing giant Uber withdrew from the country.
The company said beneficiaries would take full ownership of the vehicles they operate, with no further payment to Moove for the vehicles from October 1, 2026. It also announced that all its Nigerian employees would receive free cars in appreciation of their contributions.
The decision ends six years of operations in Nigeria, where the company began with 76 vehicles before expanding into an international business.
Co-founder and Advisory Board Chairman, Ladi Delano, described the withdrawal as an emotional moment, saying Nigerian customers and employees helped lay the foundation for the company’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
“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.”
Delano said more than 9,000 customers had used Moove’s Drive-to-Own and rental products in Nigeria, generating approximately N57 billion in revenue through vehicles financed by the company.
“Those numbers matter because they represent people earning, supporting their families and building their own futures,” he said.
Founded in 2020 by Delano and Jide Odunsi, Moove developed its Rental & Drive-to-Own model to give transport entrepreneurs access to new vehicles and a pathway to ownership.
Delano said the business grew out of the financing difficulties faced by Nigerians who wanted to earn a living through transportation.
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“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
“Our first customers trusted us when Moove was still an idea and that trust made everything that followed possible,” he said.
According to the company, the business built in Lagos became the foundation for its global operations, which now comprise 42,000 vehicles across 29 cities.
Delano also thanked Nigerian employees for helping establish the company, saying its growth abroad would continue to reflect its origins.
“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,” he said.
Uber ended its Nigerian operations on September 2, following a review of its business, closing a 12-year presence that began with its Lagos launch in 2014. The company told drivers they would no longer receive trip requests through its app from the effective date.
The ride-hailing company is also an investor in Moove, having participated alongside Mubadala in a $100 million Series B funding round in March 2024 that valued the vehicle financing business at $750 million. Moove’s financing model enables drivers to pay for vehicles through a portion of their earnings.
Moove subsequently announced a $250 million funding round in August 2026 at a valuation of $2.1 billion to expand its infrastructure business for autonomous mobility.
