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,” convened government agencies, global safety experts, and private sector stakeholders to discuss Nigeria’s transportation and road safety challenges.
The General Manager, Uber Sub-Saharan Africa, Deepesh Thomas, said at the summit that beyond the direct economic contribution, Uber riders enjoyed a consumer surplus valued at nearly N500 billion through savings in time, cost, and convenience.
The report also valued the flexibility drivers enjoy at N6.3 billion, stressing its importance for 88% of drivers who said this flexibility helps them balance family responsibilities.
“It is a key factor for 88 per cent 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 even more pronounced among women, with 78% confirming that Uber was the safest way for them to get home at night. In addition, 79% of riders agreed that the service helped to reduce drunk driving by offering a reliable way to travel after dark.
Thomas noted that Uber’s presence generates ripple effects beyond individual benefits. According to him, the platform generated nearly N930 million for the nighttime economy and added N5.4 billion in value to Nigeria’s growing tourism sector.
The report also highlighted that riders collectively saved more than 1.8 million hours in 2023, freeing time that could be redirected to personal and professional pursuits.
A recent report by Sensor Tower shows that Bolt has emerged as Nigeria’s most downloaded travel and mobility app, overtaking rivals Uber and inDrive. This ranking highlights the company’s dominance in one of Africa’s largest and fastest-growing transport markets, where millions of riders turn to app-based services for affordable and reliable trips.
Bolt, which serves over 200 million customers worldwide across more than 50 countries, is now the top-ranked app in the travel and mobility category in 23 of those markets.