Ride-hailing company Uber added an estimated N34 billion to Nigeria’s economy in 2023, according to the Uber Nigeria Economic Impact Report released at the Lagos Road Mobility Summit. The study, conducted by research firm Public First, highlighted Uber’s direct and indirect contributions to riders, drivers, and the wider economy.
Uber’s General Manager for Sub-Saharan Africa, Deepesh Thomas, said riders enjoyed a consumer surplus valued at nearly N500 billion in savings of time, cost, and convenience. Drivers collectively earned N6.1 billion more in 2023, with average earnings 34% higher than their next best alternative, while the flexibility of driving was valued at N6.3 billion.
The report showed that 97% of riders cited safety as their top reason for using Uber, a sentiment even more pronounced among women, with 78% saying it was the safest way to get home at night. In addition, 79% of riders said Uber helped reduce drunk driving by providing a reliable late-night travel option.
Broader ripple effects included nearly N930 million contributed to the nighttime economy, N5.4 billion in added value to Nigeria’s tourism sector, and more than 1.8 million hours saved by riders.
However, competition in Nigeria’s ride-hailing market remains intense. A recent Sensor Tower report shows Bolt is now the most downloaded mobility app in the country, surpassing both Uber and inDrive.
