Moove, the mobility company that started in Lagos, is leaving the Nigerian market after six years of operations — but thousands of its customers will leave with full ownership of the vehicles they have been using.
The company announced that eligible vehicles valued at approximately ₦35 billion will be transferred to existing customers at no additional cost.
Moove said customers who qualify for the transfer will become full owners of the vehicles from October 1, 2026, with no further payment required to the company for the vehicles themselves.
The company will also give free cars to all its Nigerian employees as part of its appreciation for their contributions to building the business.
From 76 Vehicles in Lagos to a Global Mobility Company
Moove began operations in Nigeria in 2020 after being founded by Ladi Delano and Jide Odunsi.
The founders were reportedly motivated by the challenges faced by mobility entrepreneurs who wanted to earn through driving but struggled to access vehicle financing.
Starting with just 76 vehicles in Lagos, Moove introduced its “Rental & Drive-to-Own” model, allowing mobility entrepreneurs to access newer vehicles while working towards ownership.
What started in Lagos eventually grew into an international operation with about 42,000 vehicles across 29 cities globally, according to the company.
More than 9,000 customers have used Moove’s Drive-to-Own and rental products in Nigeria.
According to Delano, those customers generated approximately ₦57 billion in revenue through vehicles financed by Moove.
“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,” Delano said.
‘Nigeria Will Always Be Where Moove Started’
Delano, Moove’s co-founder and advisory board chairman, described the company’s exit as an emotional moment and reflected on its beginnings in Lagos.
“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,” he said.
He recalled how the company’s first customers took a chance on Moove when it was still only an idea.
“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 said.
He said handing over the vehicles was intended to demonstrate the company’s appreciation to the customers who helped build 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,” Delano said.
He added that the vehicle transfer would allow eligible customers to retain the assets they had been operating.
“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.”
Moove’s Nigerian Chapter Comes to an End
Moove’s departure comes slightly more than a month after global ride-hailing company Uber stopped operating in Nigeria.
Uber had been an investor in Moove and led the company’s $100 million Series B funding round in 2024, which valued Moove at approximately $750 million.
Despite ending its Nigerian operations, Delano said the country would remain central to the company’s identity as it continues expanding internationally.
“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 appreciation to Moove’s Nigerian employees for their role in establishing and developing the company’s operations.
Source: Moove
