Ride-hailing giant 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 findings were presented at the Lagos Road Mobility Summit, an event co-hosted by Uber and the Lagos State Ministry of Transport.
Themed “Reimagining an Inclusive Road Safety Strategy,” the summit brought together government agencies, global safety experts, and private sector stakeholders to discuss solutions to Nigeria’s transportation and road safety challenges.
Key Economic Contributions
Speaking at the summit, Deepesh Thomas, General Manager of Uber Sub-Saharan Africa, said the company’s impact extends beyond direct financial input.
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Uber riders enjoyed a consumer surplus valued at nearly N500 billion, achieved through savings in time, cost, and convenience.
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Drivers collectively earned N6.1 billion more in 2023, with average earnings 34% higher than their next best alternative.
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The flexibility provided by the platform was valued at N6.3 billion, with 88% of drivers saying it helps them balance family responsibilities.
Safety and Convenience
Safety remains a major factor for riders choosing Uber in Nigeria.
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97% of riders cited safety as a key reason for using the app.
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Among women, 78% confirmed Uber was the safest way to get home at night.
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79% of riders agreed that Uber helps reduce drunk driving by providing a reliable late-night transport option.
Ripple Effects on the Economy
Beyond direct benefits, Uber’s presence has generated wider economic value:
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Nearly N930 million was injected into Nigeria’s nighttime economy.
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The platform contributed N5.4 billion to the growing tourism sector.
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Riders collectively saved more than 1.8 million hours in 2023, freeing time for personal and professional pursuits.
Thomas emphasized that Uber’s impact demonstrates how technology-driven platforms can boost local economies while also addressing urban challenges such as road safety and accessibility.
