Uber officially shut down its operations in Nigeria on Wednesday, September 2, 2026, bringing an end to 12 years of business in the country.
While the company has diplomatically described the move as part of a review of its business priorities and investment focus, its exit comes at a difficult time for businesses operating in Nigeria.
Companies are facing a combination of rising operating costs, inflation, currency instability, weaker consumer purchasing power and an increasingly unpredictable business environment.
And that is where the bigger conversation begins.
Why is Nigeria struggling to remain an attractive destination for businesses despite being one of Africa’s largest consumer markets?
The Tinubu-led APC administration inherited a fragile economy and introduced major reforms aimed at stabilising it. But Nigerians cannot ignore the reality that businesses are still under enormous pressure, while some companies are shutting down, scaling back or redirecting investments elsewhere.
Economic performance should not be measured by statistics alone. It should also be measured by whether businesses can survive, expand, employ more people and confidently invest in the country.
Uber’s exit should therefore serve as a wake-up call.
Nigeria needs an economic environment that makes businesses want to come, stay and expand—not one that gradually pushes them toward the exit.
If the government wants to attract serious local and foreign investment, it must urgently address the conditions making it increasingly expensive and difficult to do business in Nigeria.
Because when major companies leave, the consequences go beyond corporate boardrooms. Jobs, investment, competition and opportunities for millions of Nigerians are affected.
And that leaves Nigerians with a very uncomfortable question:
Is Tinubunomics creating an investment-friendly Nigeria—or are we simply being asked to endure the pain and “bole ka ja”? (The Guardian)
