Moove Exits Nigerian Market After Six Years

Moove, the global mobility company founded in Lagos, has announced plans to end its operations in Nigeria, six years after it began business in the country.

The company said it would conclude its Nigerian operations with a “Thank You Nigeria” initiative aimed at appreciating its customers, employees, partners and communities.

Moove was established in Lagos in 2020 by Ladi Delano and Jide Odunsi after identifying the difficulty many mobility workers faced in accessing vehicle financing.

It started with 76 vehicles in Lagos and introduced its Rental and Drive-to-Own model to help mobility entrepreneurs access new vehicles while working towards ownership.

The Nigerian operation later became the foundation for Moove’s international expansion. The company now operates about 42,000 vehicles across 29 cities globally.

Since its launch in Nigeria, Moove said more than 9,000 customers have used its Drive-to-Own and rental services. The company added that those customers generated about N57 billion in revenue through Moove-financed vehicles.

As it exits the market, Moove said eligible vehicles worth about N35 billion would become the full property of the customers currently operating them.

The transfer will take effect from October 1, 2026, and customers will not have to make further payments to Moove for the vehicles themselves.

The company will also give every staff member a car as part of its appreciation programme.

According to Moove, the initiative reflects its gratitude to the people who helped build the company from its early days in Lagos.

Delano, who is Moove’s co-founder, co-CEO and Advisory Board Chairman, described the decision as an emotional moment for the company.

“Nigeria is where Moove began, and everything we have built since carries something of Lagos with it,” he said.

He recalled that the company was created to help hardworking mobility entrepreneurs overcome the barriers that prevented them from accessing vehicles and finance.

Delano noted that more than 9,000 Nigerians had used Moove’s services, with their activities generating about N57 billion in revenue.

“Those numbers matter because they represent people earning, supporting their families and building their own futures,” he added.

The Moove co-founder also acknowledged the role played by the company’s Nigerian workforce in its growth from a Lagos-based startup into an international mobility business.

“To our Nigerian team, thank you. Your commitment, resourcefulness and belief in the mission carried Moove through its earliest and most important years,” Delano stated.

He also thanked customers, partners, regulators and other stakeholders for supporting the company during its Nigerian journey.

The company said it would work directly with affected customers and employees as it winds down its operations and completes the transfer of eligible vehicles.

For Moove, the exit marks the end of its Nigerian business operations but not the end of the connection with the country where the company began.

“Nigeria will always be where Moove started,” Delano said, adding that the company would continue its international expansion while remaining proud of its Nigerian roots.