Moove Quits Nigeria Operations After 6 Years

Global mobility company, Moove, has announced plans to discontinue its operations in Nigeria, six years after it was founded in Lagos, with about N35 billion worth of eligible vehicles to be transferred into the full ownership of customers currently operating them.

The company said the transfer of the vehicles would take effect from October 1, 2026, with affected customers required to make no further payment to Moove for the vehicles themselves.

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The exit will bring an end to the Nigerian operations of a company that started with just 76 vehicles in Lagos and subsequently expanded into a global mobility business operating about 42,000 vehicles across 29 cities.

Moove said more than 9,000 customers have used its Drive-to-Own and rental products in Nigeria since its establishment, generating approximately N57 billion in revenue through Moove-financed vehicles.

The company said the transfer of the vehicles forms part of its “Thank You Nigeria” initiative, designed to recognise customers, employees, partners and communities that supported its growth from a Nigerian start-up into an international mobility company.

As part of the initiative, Moove said it would also reward all its Nigerian employees with free cars in appreciation of their contribution to the company.

Founded in Lagos in 2020 by Ladi Delano and Jide Odunsi, Moove was established after its founders identified the difficulty faced by mobility entrepreneurs and gig workers in accessing vehicle financing.

The company subsequently developed its Rental and Drive-to-Own model, providing mobility entrepreneurs with access to new vehicles and a pathway towards ownership.

Moove said the model developed in Lagos became the foundation for its international expansion and helped the company build a business that now operates across 29 cities globally.

Commenting on the decision, Moove Co-Founder, Co-CEO and Advisory Board Chairman, Ladi Delano, said Nigeria remained at the heart of the company’s history and growth.

“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.

He said the company’s first customers trusted Moove when it was still an idea, helping to establish the foundation for its subsequent international growth.

“More than 9,000 customers have used our Drive-to-Own and rental products in Nigeria. Their work generated approximately N57 billion in revenue through Moove-financed vehicles,” he said.

According to Delano, the figures represent more than commercial activity, as they also reflect people earning incomes, supporting families and building businesses through mobility.

He described the decision to transfer eligible vehicles worth approximately N35 billion to existing customers as an expression of gratitude as the company concludes its Nigerian operations.

“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,” Delano said.

“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 also commended the Nigerian workforce for helping to transform a Lagos-based idea into a global mobility company.

“To our Nigerian team, thank you. Your commitment, resourcefulness and belief in the mission carried Moove through its earliest and most important years. You turned an idea that began in Lagos into a company that now operates across 29 cities globally,” he said.

He also thanked the company’s customers, partners, regulators and the wider community for supporting its development.

“To our customers, thank you for partnering with us and realising our collective ambitions. To our partners, regulators and the wider community, thank you for supporting a young Nigerian company and helping it grow into a global business,” Delano said.

He added that the company’s international expansion would not erase its Nigerian roots.

“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.

Moove said it would work directly with affected customers and employees as it concludes its Nigerian operations and completes the transfer of eligible vehicles.

The company said the “Thank You Nigeria” initiative was its way of recognising the trust, skills and support of the people and communities that helped shape Moove from its beginnings in Lagos into a global mobility company.