Why Moove is leaving the Nigerian market it was built in
Moove's future is in robotaxi depots in the United States, so its Nigerian business, which had challenges, no longer represents a solid business.
Moove, the mobility company founded in Nigeria, is exiting the country it was built in after Uber, its sole ride-hailing partner, left the market. In a statement, Moove announced that it will transfer eligible vehicles worth around ₦35 billion ($26.3 million) to the drivers, who will get their cars without further payment from October 1.
The company also stated that every Moove employee will receive a free car. The decision to leave Nigeria comes in the wake of Uber's exit from the country, which left Moove without the necessary data to price and collect loans from its drivers. The company's exit from Nigeria marks a significant shift in its business model, as it now focuses on robotaxi depots in the United States.
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