Moove hands over ₦35bn in cars to Nigerian drivers as it exits Nigeria

Moove will hand over eligible vehicles worth approximately ₦35 billion ($26.3 million) to Nigerian drivers with no further payments due from October 1, 2026, as it exits its founding market. All Moove employees will also receive free cars. This announcement follows Uber's departure from Nigeria five weeks earlier on September 2, 2026, which destroyed Moove's lending model reliant on Uber earnings data for credit decisions and loan collections. The company stated Nigeria will always be where it started, describing the handover as thanks to customers and staff who built the business.

Moove's Nigerian operations faced challenges including naira devaluation impacting dollar-denominated debt repayment, driver strikes over payments, and declining UberGo demand. Despite drivers' long-standing request to work with Bolt and inDrive, Moove maintained its Uber-exclusive partnership until after Uber's exit. The handover resolves years of tension by transferring asset ownership to drivers who previously paid weekly remittances that doubled from ₦56,400 in 2023 to ₦112,200 in 2025 (equivalent to $74 weekly at 2025 rates versus $87 in 2023).

With Moove now focused on robotaxi depots in the U.S. via partnerships like Waymo, and having raised $250 million at a $2.1 billion valuation for global expansion, Nigeria no longer represents a core business opportunity. Drivers receiving cars gain immediate asset ownership without outstanding payments, though the exact amount still owed per driver on October 1 remains undisclosed.

If you're a ride-hailing driver in Lagos or elsewhere in Nigeria affected by such vehicle financing schemes, how would receiving ownership of your work vehicle with zero remaining debt impact your long-term financial planning and career flexibility in an increasingly competitive market?

SOURCE: https://techcabal.com/2026/10/09/moove-exits-nigeria-after-uber/