Global mobility company Moove is set to end its operations in Nigeria six years after launching in Lagos, with the company announcing plans to transfer vehicles valued at about N35 billion to eligible customers who currently operate them.
Under the arrangement, the affected vehicles will become the full property of the customers from October 1, 2026, while no further payment to Moove will be required for the vehicles themselves.
The decision marks the end of a significant chapter for a company whose Nigerian operations began modestly with just 76 vehicles in Lagos before expanding into an international mobility business with about 42,000 vehicles operating across 29 cities.
For thousands of Nigerian mobility entrepreneurs and drivers who relied on Moove-financed vehicles to earn a living, however, the company’s departure is being framed as more than a corporate exit.
Moove said the transfer of its eligible vehicle fleet forms part of its “Thank You Nigeria” initiative, a programme designed to recognise the customers, employees, partners and communities that supported the company from its beginnings as a Nigerian start-up to its emergence as a global mobility business.
The company said more than 9,000 customers have used its Drive-to-Own and rental products in Nigeria since its establishment. Through vehicles financed by Moove, these customers generated approximately N57 billion in revenue, according to the company.
Beyond its customers, Moove said it would also reward all its Nigerian employees with free cars as part of the initiative, describing the gesture as an appreciation for the role they played in building the company.
From Lagos idea to global business
Moove was founded in Lagos in 2020 by Ladi Delano and Jide Odunsi after the entrepreneurs identified a major financing gap confronting mobility entrepreneurs and gig workers.
Many drivers had the willingness and capacity to work but lacked access to the vehicles and financing needed to participate fully in the growing ride-hailing and mobility economy.
Moove responded by developing Rental and Drive-to-Own products that enabled mobility entrepreneurs to access new vehicles while providing a pathway towards eventual ownership.
The model pioneered in Lagos subsequently became a major part of the company’s international expansion.
According to Moove, what began as a 76-vehicle operation in Lagos eventually developed into a global mobility company with about 42,000 vehicles across 29 cities.
For Delano, the company’s co-founder, co-CEO and Advisory Board chairman, Nigeria’s role in Moove’s story remains central despite the decision to leave the market.
“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,” Delano said.
He said the company’s earliest customers took a chance on Moove when it was still an untested idea, helping to create the foundation on which its subsequent expansion was built.
“More than 9,000 customers have used our Drive-to-Own and rental products in Nigeria. Their work generated approximately N57 billion in revenue through Moove-financed vehicles,” he said.
Delano said the figures should not be viewed simply as business statistics, arguing that the company’s vehicles also became tools through which individuals earned incomes, supported families and built businesses.
‘This is an emotional moment for us’
The transfer of approximately N35 billion worth of vehicles is arguably the most striking element of Moove’s exit strategy.
Rather than requiring eligible customers to make additional payments to retain the vehicles they have been operating, the company said ownership would pass fully to them from October 1.
“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,” Delano said.
“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.”
For customers who have depended on Moove vehicles as income-generating assets, the transfer could represent a significant change in their economic position, turning vehicles previously operated under Moove’s financing arrangements into assets they can own outright.
Tribute to Nigerian employees
Moove also placed its Nigerian employees at the centre of the exit initiative, announcing that they would receive free cars in recognition of their contributions to the company.
Delano described the Nigerian workforce as instrumental in transforming an idea conceived in Lagos into an international business.
“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,” he said.
He extended the appreciation to customers and the wider ecosystem that supported the company.
“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,” Delano said.
‘Our story will always start in Lagos’
Although Moove is leaving the Nigerian market, Delano said the company’s international ambitions would remain tied to the country where the business was conceived.
“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,” he said.
Moove said it would engage directly with affected customers and employees during the process of winding down its Nigerian operations and completing the transfer of eligible vehicles.
The company said the “Thank You Nigeria” initiative was intended to acknowledge the trust, skills and support that helped shape its journey.
From a 76-vehicle start-up in Lagos to a global mobility company operating tens of thousands of vehicles across 29 cities, Moove’s Nigerian chapter is now drawing to a close.
But for the thousands of customers who used its vehicles to generate income, and the employees who helped build the business, the company’s departure will leave behind more than a corporate history: it will leave vehicles, livelihoods and ownership in the hands of many of the people who helped make its Nigerian story possible.