Uber Adds ₦34 Billion to Nigeria’s Economy in One Year, Report Shows

 

Uber has released fresh data on its economic footprint in Nigeria, revealing that the ride-hailing giant contributed an estimated ₦34 billion to the country’s economy in 2023. The findings, presented at the Lagos Road Mobility Summit and compiled by research firm Public First, provide a detailed look into how the platform supports drivers, riders, and wider industries.

According to the report, Uber’s presence goes far beyond the convenience of booking a ride. It translates into measurable gains for individuals and the economy at large.

Key highlights from the report include:

• Driver earnings advantage: Uber drivers made ₦6.1 billion more in 2023 than they would have earned in their next best alternative job.

• Flexibility value: The flexibility of ride-hailing work was valued at ₦6.3 billion, with 88 percent of drivers saying it helped them balance family responsibilities.

• Tourism boost: Uber added around ₦5.4 billion in value to Nigeria’s tourism sector by improving mobility for visitors.

• Night-time economy: Uber contributed nearly ₦930 million in value by enabling safer late-night travel, especially for women who cited safety as a key reason for choosing Uber.

• Consumer benefits: Riders saved over 1.8 million hours in 2023 by using Uber instead of alternatives. This time saved, along with cost efficiencies, translated into a broader ₦500 billion consumer surplus.

Speaking at the summit, Uber emphasized that its platform is not just about technology but about creating real economic opportunities. For many drivers, the platform provides steady income and flexibility, while for riders it provides safer, more reliable transport options.

The report also highlights the platform’s role in the night-time economy and tourism, sectors often overlooked when measuring transport’s economic impact. By connecting people with opportunities, jobs, and leisure, Uber has become an embedded part of Nigeria’s mobility ecosystem.

The bigger picture

While the ₦34 billion figure is significant, it represents only the direct contribution measured by the study. The broader consumer surplus of ₦500 billion suggests that the actual value Uber generates is far larger when considering time saved, convenience, and accessibility.

Still, the findings raise important questions about sustainability, infrastructure, and the role of private mobility services in a country where public transport remains underdeveloped. If Uber and similar platforms are generating this level of value, policymakers may need to rethink how to integrate ride-hailing into Nigeria’s wider transport and urban planning strategy.

For Uber, the report is both a validation and a positioning tool, underscoring the company’s importance in Nigeria’s economy as debates over regulation, safety, and driver welfare continue.