Uber Contributed N34 Billion to Nigerian Economy in 2023
Uber reported a N34 billion contribution to Nigeria's 2023 economy, though data shows competitor Bolt has become the country's most downloaded mobility app.
An economic impact report conducted by Public First reveals that Uber contributed an estimated N34 billion to the Nigerian economy in 2023. The findings, unveiled at the Lagos Road Mobility Summit co-hosted by Uber and the Lagos State Ministry of Transport, indicate that riders experienced a consumer surplus of nearly N500 billion through time and cost savings.
Deepesh Thomas, General Manager of Uber Sub-Saharan Africa, noted that drivers earned N6.1 billion more in 2023 than they would have through alternative options. The report further detailed specific sector gains, including N5.4 billion in value added to tourism and N930 million to the nighttime economy.
Despite these reported economic contributions, Uber faces stiff competition in the region. Data from Sensor Tower indicates that Bolt has surpassed both Uber and inDrive to become the most downloaded travel and mobility app in Nigeria.
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