{
  "id": 13025447,
  "title": "After Uber exit, another firm ends Nigerian operation",
  "url": "https://urgent.news/2026/10/09/after-uber-exit-another-firm-ends-nigerian-operation",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-09T04:01:24.000Z",
  "source": {
    "name": "Daily Trust",
    "slug": "daily-trust",
    "url": "https://dailytrust.com/after-uber-exit-another-firm-ends-nigerian-operation/"
  },
  "original_language": "en",
  "account": "Moove, a mobility technology company founded in Lagos, is set to exit its Nigerian operations six years after establishing itself in the country. The company announced it will transfer ownership of eligible vehicles, valued at around N35 billion, to customers operating them, at no cost from October 1, 2026. In addition, all Nigerian employees will receive a vehicle as part of the exit package.\n\nAccording to Moove, the decision to leave Nigeria was influenced by the pivotal role the country played in the company's development and the challenge of sustaining operations amid rising fuel prices. Economists have suggested that the high cost of petrol has contributed to the departure, making the business unsustainable. The company's co-founder, co-CEO, and chair of the advisory board, Ladi Delano, expressed gratitude for the support received in Nigeria, where Moove started and grew, but acknowledged that Uber's exit from the market had materially changed the operating environment in Nigeria.\n\nDelano highlighted that over 9,000 customers have utilized Moove's Drive to Own and rental products since the company's inception, generating approximately N57 billion in revenue through financed vehicles. The company's Nigerian exit follows shortly after Uber announced the end of its operations in the country, raising concerns about the sustainability of mobility businesses in the current economic climate. Moove plans to work closely with affected customers and employees throughout the transition and vehicle ownership transfer process.",
  "summary": "Moove, the global mobility technology company founded in Lagos, has announced plans to conclude its operations in Nigeria six years after commencing business in the country. As part of its exit, the company said it will transfer full ownership of eligible vehicles, valued at approximately N35 billion, to existing customers at no additional cost. Under […]",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}