Operation pressures, rising cost, regulatory challenges force Uber out of Nigeria

By Tunji Faleye

Increasing operational pressures, rising costs, regulatory challenges and harsh economic environment have been fingered as the reasons the
global ride-hailing giant, Uber exited Nigerian market with immediate effect after 12 years of operations.

Uber announced on Wednesday, September 2, that its would stop its operations in Nigeria with immediate effect.

Uber’s announcement signals the end of a 12-year domination of ride-hailing industry that transformed urban transportation across several cities in Nigeria, popularised the app-based ride-hailing among commuters in the country.

The company entered the Nigerian market with the promise of reshaping mobility through technology, connecting riders with drivers and providing a convenient alternative to traditional transportation.

As it is expected, Uber’s exit will enable InDrive and Bolt to dominate the ride-hailing sector of the nation’s economy.

Do you agree with the reasons given by Uber?