Moove, the global mobility company founded in Lagos, said it is transferring vehicles worth about N35bn to eligible Nigerian customers as it concludes its operations in the country after six years.
Under the arrangement, drivers currently operating eligible vehicles through Moove’s drive-to-own and rental products will take full ownership of the vehicles, with no further payment to the company required for the vehicles themselves from October 1, 2026.
The company announced the transfer on Thursday as part of its “Thank You Nigeria” initiative, which it said was designed to recognise the customers, employees, partners and communities that supported its growth from a Lagos start-up into an international mobility business.
The start-up will also give all its Nigerian staff members a free car as part of the exit arrangements, and said it would work directly with affected customers and employees to complete the ownership transfers.
“As Moove concludes its Nigerian operations, eligible vehicles with an estimated total value of approximately N35bn will pass into full ownership of the customers who currently operate them, with no payment to Moove required for the vehicles themselves from 1st October 2026,” it stated in a news release.
Founded in Lagos in 2020 by Ladi Delano and Jide Odunsi, Moove was created to address the difficulty faced by mobility entrepreneurs seeking access to vehicles and financing to earn a living through driving.
The company, a strategic ally to Uber, which exited Nigeria a few weeks ago, started with 76 vehicles in the commercial capital and developed its rental and drive-to-own model to give mobility entrepreneurs access to vehicles and a pathway to ownership.
Since its launch, more than 9,000 customers have used its drive-to-own and rental products in Nigeria, with Moove-financed vehicles helping them generate approximately N57bn in revenue, the firm disclosed.
Co-founder and Advisory Board Chairman, Ladi Delano, described the Nigerian exit as an emotional moment for the company, noting that the country provided the starting point for its international expansion.
“Nigeria is where Moove began, and everything we have built since carries something of Lagos with it,” Delano said. “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.”
He said the company was founded on the belief that Nigerian mobility entrepreneurs needed access to vehicles and finance to build sustainable livelihoods. “Those numbers matter because they represent people earning, supporting their families and building their own futures,” he added.
The Nigerian operation has since become the foundation of a much larger international business. Moove said it now operates about 42,000 vehicles across 29 cities globally.
Source: Punch. This story was rewritten from the original report.
Image: Punch
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