Sometimes rapping isn’t fun at all 😂
L.A.M.B MARTELL CYPHER
The only cypher that really matters
OUT NOW!
@MI_Abaga x @BlaqBonez x @loosekaynon x @thisisAQ
https://t.co/DVCR7qfCIZ
ICYM the latest Figma Motion updates
Available now:
→ Custom animation styles
→ Export to Lottie
Rolling out next week:
→ Audio on the timeline
→ Text animations
I built a game where you drive a danfo through Lagos 🚌
Load passengers, dodge okadas, beat the traffic. Plays in your browser, no download.
https://t.co/XE3xm87QXH
#LagosRun#Lagos#IndieGame
My first Uber ride in Nigeria in 2014 was in a 2011 Honda Accord.
It was N400. Short trip.
That was $2.40 at the time.
My most expensive Uber ride that year was just a little above N4,000.
About $24.
Anybody who did 10 such trips in a day made a minimum of $240.
With fuel at N97 and 25% platform fee, profit daily was at least $150 before bonuses.
That’s $900-$1,000 profit in a week.
$3,600-$4,000 in a month.
For context, a brand new 2014 Kia Optima or Hyundai Sonata was N5m. And you could pay over 5yrs.
Thats a monthly fee of $490.
Much lower for Cerato or Elantra—about $300-$350.
So with less than a week’s profit from Uber you had your brand new same year sedan monthly financing sorted.
Meanwhile a clean 2010 Corolla was 1.5m.
So paying $370 monthly, you cover the cost of buying it in 2yrs.
Leaving a profit of well over $3,000 monthly to split between you and the owner, and you take the car after 2yrs.
Now you understand why so many middle class people were buying clean cars and putting them on the road as Uber.
Now you understand why they can drinks and sweets and were so clean.
Some were even top cars like Benzes and Highlanders.
And everyone wants to suddenly act like going from buying fuel at less than N100 when the minimum wage could buy 3 bags of rice to buying fuel at N,1500 when the minimum wage can barely buy one bag, and when the cost of the same 2010 Corolla despite going from being a 4yr old car to a 16yr old car is x5 the cost it was when it was a 4yr old car, would not torpedo the entire business model.
If Uber were making N200M MONTHLY in 2014, they were making FAR MORE THEN than if they are making N200M WEEKLY TODAY.
N200M a month then—$1.2M monthly.
N200M a week now—$571K monthly.
I'm honestly surprised it took this long. They've had this struggle for over two years now. We can talk about Nigeria's issues, rightfully so, however, Uber's problem is that they were a bit stubborn in their model. In my own opinion.
Their global playbook relies heavily on a standardized tech stack, strict digital-only payments (mostly), and uniform corporate policies. In contrast, Bolt (and later InDrive) collected market from them because they localized much faster. Bolt aggressively adapted to the local market by allowing cash transactions early on (crucial in a country where card failure rates or banking friction can be high) and offered more flexible vehicle standards (although I'll call this quality-blurring where you genuinely think you're getting a better ride, because you're paying more, and the app said so, but you really aren't. But that's another conversation).
Uber literarily still had the "share a ride feature" in a country where people don't even trust strangers, and it was expensive.
I don't have data to back this up, but I could wager very strongly that both Uber and Bolt would have the delivery bike feature as their most used in Nigeria, and probably the one with highest revenue for obvious reasons such as sme e-commerce boom and fast cycle times, especially in Lagos.
Personally, despite all it's crooked ways, InDrive is the perfect Nigerian fit. They're not just excellent in their ways, and don't even want to be. Shuttlers also, but little money to scale, ++, government should be working with them in a sane country.
It's not sad to me actually, except the part that there's a subtle blame I can send towards the Nigeria's macroeconomic and microeconomic outlook. Otherwise, I'll say Uber didn't want the Nigerian market that badly. Again, my own opinion.
Uber is leaving Nigeria today.
And I think there is a much bigger economic lesson here than simply “Uber is leaving.”
Uber launched in Lagos in 2014. At the time, it was entering one of the most exciting consumer markets in Africa. It helped create an entirely new category of mobility and eventually expanded beyond Lagos.
So why leave now?
Uber says the decision follows a review of its business priorities and investment focus across Africa. Importantly, the company says the decision is not related to the recent FAAN airport restrictions.
But the economics are worth examining.
1. A huge population does not automatically equal a huge addressable market.
Nigeria has more than 200 million people, but the relevant market for Uber isn’t 200M people.
It is people who:
- have smartphones and reliable connectivity
- can afford app based transportation regularly
- live in cities where Uber operates;
prefer Uber over alternatives
and can pay fares that make the platform economically viable.
That distinction matters enormously.
2. Purchasing power is probably the biggest structural challenge.
Nigeria can have enormous demand for mobility while simultaneously having relatively low purchasing power.
When household incomes are under pressure, transportation becomes highly price sensitive.
Consumers don’t necessarily ask:
“Which platform has the best experience?”
They ask:
“Who can get me there for the least money?”
And that creates a brutal environment for premium or differentiated platforms.
Nigeria’s recent economic reforms have improved some macroeconomic indicators, but inflation and cost-of-living pressures continue to squeeze household incomes.
3. Competition makes monetisation even harder.
Uber isn’t operating in a vacuum.
Bolt has become a formidable competitor, while inDrive and several local platforms compete aggressively on price, driver supply and geographic coverage.
Bolt was reported as Nigeria’s most downloaded mobility app in 2025, ahead of Uber and inDrive.
And this is important:
In a low-purchasing-power market, the cheapest acceptable product can beat the best product.
That is a very different competitive dynamic from markets where consumers have more disposable income.
4. The market itself isn’t necessarily small.
This is the fascinating part.
One 2026 market estimate puts Nigeria’s ride-hailing and mobility-platform market at about $450 million in 2025, with projected growth toward almost $1 billion by 2032.
So this isn’t necessarily a story about no demand.
It is potentially a story about the size of the opportunity relative to the capital, operational complexity and returns required by a global company.
That’s a very different question.
5. And Uber is making capital-allocation decisions globally.
Today, Uber is also cutting approximately 3,300 jobs, around 10% of its workforce, as it simplifies the organisation and redirects resources toward strategic priorities, including autonomous mobility.
That context matters.
A company doesn’t have to believe Nigeria is a bad market to decide that another market is a better use of the next $1 of capital.
And I think this is the most important lesson.
The lesson for African founders:
If the money is not big enough for Uber but it’s good enough for you, get in there.
Africa doesn’t just need bigger markets.
It needs business models designed around the economics of African consumers.
Uber’s exit is a useful reminder of that.
The Rhodes Experience. This has been worth the while for me. Both in direction, process and outcome.
Did both the visual and sound work for this. I covered *that* Asake's Redbull symphonic track for this.
3D, rigs & Animation work - Blender3D
Score composition - Logic Pro
Decals and visuals - Figma
Edits & compilation - Davinci R
BTS / process and learnings in the thread below.
Sound on 🔊
One year ago my family was changed forever, my mom had a massive stroke. It has been a rollercoaster year but I am so grateful to God for healing, provision and peace. My Bible says that all things work together for good for those that love the Lord and that has been our story