Moove exits Nigerian Market

Moove, a global mobility company, on Thursday announced that it will conclude its operations in Nigeria, six years after the company was founded in Lagos.

Join the Premium Times WhatsApp Community For Quick Access To News and Happenings Around You.

Open in WhatsApp

“The company does so with deep gratitude to the customers, team members, partners and communities who gave Moove its start,” a statement said Thursday.

Moove was founded in 2020 by Ladi Delano and Jide Odunsi after they saw that many gig workers in Nigeria wanted to earn through mobility but could not access the vehicle financing they needed.

The company began with 76 vehicles in Lagos and developed its Rental & Drive-to-Own model to give mobility entrepreneurs access to new vehicles and a pathway to ownership.

What Moove built in Lagos became the foundation for a business that today operates 42,000 vehicles across 29 cities globally.

Since its inception, Moove has served more than 9,000 customers across both its Drive-to-Own and rental products, helping customers generate approximately ₦57 billion in revenue, supporting livelihoods, families and businesses across Nigeria.

As Moove concludes its Nigerian operations, the company said eligible vehicles with an estimated total value of approximately ₦35 billion will pass into full ownership of the customers who currently operate them, with no payment to Moove required for the vehicles themselves from 1 October 2026.

Stay Ahead with Premium Times

Add as a preferred source on Google

Moove will also reward all staff members with a free car as a sign of appreciation, the statement said.

The ‘Thank You Nigeria’ initiative is Moove’s way of recognising the customers, employees and wider community whose trust, skill and support shaped the company from its earliest days, it added.

Ladi Delano, Co-Founder, Co-CEO and Advisory Board Chairman of Moove, said:
“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 and for that we “thank you”.

“More than 9,000 customers have used our Drive-to-Own and rental products in Nigeria.
Their work generated approximately ₦57 billion in revenue through Moove-financed
vehicles. Those numbers matter because they represent people earning, supporting their families and building their own 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.”

READ ALSO: Moove secures $100 million in series B funding

The cofounder explained that 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.

“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. Jide and I will always be grateful for what you have built and for the way you have represented Moove,”he said.

“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.

“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.”

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