Uber shut down its Nigeria and Uganda operations on Wednesday, Sept. 2, ending a 12-year run in Africa's most populous country. The exit landed the same day Uber announced cuts of about 3,300 jobs and confirmed it is steering billions toward robotaxi partnerships instead.
Uber walks away after 12 years
Uber Technologies shut down its Nigeria and Uganda businesses effective Wednesday, Sept. 2, ending a 12-year run in Nigeria. The company told riders it had made the decision to wind down operations there, according to a statement carried by CNBC Africa: "made the tough decision to wind down our operations in Nigeria". Uber said it is now focusing investment on markets where it can add the most value for drivers at scale.
Why the Nigeria math never worked
Nigeria's population runs near 242.6 million, but its projected 2026 GDP per capita sits at about $1,556. A series of naira devaluations has also pushed the country's 2026 nominal GDP to roughly $377 billion, behind South Africa and Egypt in dollar terms — a reminder that GDP per capita, not headcount, decides whether a consumer market pays off. Uber positioned itself as the premium option against rivals Bolt and inDrive, but the country's entire ride-hailing market was worth roughly $450 million last year — less than 1% of Uber's trailing 12-month revenue of more than $55 billion.
Robotaxis are absorbing the money instead
On the same day, Uber said it is cutting about 3,300 roles, roughly 10% of its global staff, while reducing management ranks by 20% and reallocating spending toward ride-sharing, delivery, and robotaxis. It is the company's largest reduction since the pandemic. Uber has committed more than $10 billion to robotaxi partnerships, including a plan for up to 50,000 autonomous vehicles with Rivian and Nvidia. Its board-backed $15 billion bid for Delivery Hero is moving forward. London got its first Uber robotaxis this week through a partnership with Wayve.
What it means for the stock
Uber closed at $76.45 on Sept. 2, up 1.61%, giving it a market cap near $156 billion, well below its 52-week high of $101.99. The retreat from Nigeria and Uganda is not cost-cutting on its own — it is money moving from markets with thin margins today into an autonomy bet that will not generate meaningful revenue for years.
Source: TheStreet
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