Ride-hailing company Uber contributed an estimated N34 billion to Nigeria’s economy in 2023, according to the Uber Nigeria Economic Impact Report conducted by research firm Public First.
The report was unveiled at the Lagos Road Mobility Summit, an event co-hosted by Uber and the Lagos State Ministry of Transport. The summit, themed “Reimagining an Inclusive Road Safety Strategy,” brought together government agencies, global safety experts, and private sector stakeholders to address Nigeria’s transportation and road safety challenges.
Uber Sub-Saharan Africa General Manager, Deepesh Thomas, said that beyond direct economic contributions, Uber riders enjoyed a consumer surplus valued at nearly N500 billion through savings in time, cost, and convenience. He added that drivers collectively earned N6.1 billion more in 2023, with average earnings 34 percent higher than their next best alternative. The report also valued the flexibility drivers enjoy at N6.3 billion, which Thomas emphasized is a key factor for 88 percent of drivers who said this flexibility helps them balance family responsibilities.
“The report also found that safety and convenience are the primary reasons Nigerians choose the service. With 97 per cent of riders citing safety as a key reason for using the app,” Thomas said.
The findings were more significant among women, with 78 percent confirming that Uber was the safest way for them to get home at night. In addition, 79 percent of riders agreed that the service helped reduce drunk driving by offering a reliable way to travel after dark.
Thomas further noted that Uber’s presence generates ripple effects beyond individual benefits. He explained that the platform generated nearly N930 million for the nighttime economy and added N5.4 billion in value to Nigeria’s tourism sector. The report also showed that riders collectively saved more than 1.8 million hours in 2023, time that could be redirected to personal and professional pursuits.
Meanwhile, a recent report by Sensor Tower revealed that Bolt has emerged as Nigeria’s most downloaded travel and mobility app, overtaking Uber and inDrive. The ranking underlines Bolt’s dominance in one of Africa’s largest and fastest-growing transport markets. Bolt, which serves over 200 million customers across more than 50 countries, is now the top-ranked app in the travel and mobility category in 23 of those markets.
