Moove Exits Nigeria After Six Years

Global mobility company Moove has announced plans to end its operations in Nigeria, six years after it was founded in Lagos.

The company made the announcement on Thursday as part of its “Thank You Nigeria” initiative.

Moove said the decision comes with gratitude to its customers, employees, partners and communities that supported its growth. It was founded in Lagos in 2020 by Ladi Delano and Jide Odunsi, Moove was created to help gig workers access vehicle financing.

The company started with 76 vehicles in Lagos. It later developed its Rental and Drive-to-Own model to help mobility workers access new vehicles and eventually own them. Since then, Moove has expanded to 29 cities globally. It now operates about 42,000 vehicles worldwide.

In Nigeria, the company said more than 9,000 customers have used its Drive-to-Own and rental products. It added that customers have generated approximately N57 billion in revenue through Moove-financed vehicles.

As part of its exit, eligible vehicles worth about N35 billion will be transferred into full ownership of the customers currently operating them. Moove said customers will not have to make further payments to the company for the vehicles from October 1, 2026.

The company will also give all its staff members a free car as part of its appreciation for their contributions. Moove said it will work directly with affected customers and employees as it winds down its Nigerian operations and completes the vehicle transfers.

Ladi Delano, Moove’s Co-Founder, Co-CEO and Advisory Board Chairman, said Nigeria remained central to the company’s story.

“Nigeria is where Moove began, and everything we have built since carries something of Lagos with it,” Delano said.

He recalled that Moove was founded to help hardworking mobility entrepreneurs who struggled to access vehicles and financing.

“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’,” he said.

Delano said the company’s Nigerian customers had generated about N57 billion in revenue through Moove-financed vehicles. He said the figure represented people earning incomes, supporting their families and building their futures.

“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.

He also thanked Moove’s Nigerian employees for their commitment and role in expanding the company internationally.

“To our Nigerian team, thank you. Your commitment, resourcefulness and belief in the mission carried Moove through its earliest and most important years,” he said.

Delano also thanked customers, partners, regulators and the wider community for supporting the company.

“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,” he said.

Moove said the “Thank You Nigeria” initiative is designed to recognise the people and communities that helped shape the company from its early days in Lagos.