The camp of former vice president and 2027 presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, has blamed President Bola Tinubu’s administration for the decision by global ride-hailing company, Uber, to shut down its operations in Nigeria.
Paul Ibe, spokesperson for Atiku, attributed the blame in a statement issued on Wednesday following Uber’s announcement that it would wind down its Nigerian operations.
Uber, which commenced operations in Nigeria in 2014, said its exit would take effect on Wednesday, September 2, 2026, after a review of its business operations.
Reacting to the development, Ibe argued that while Uber had attributed its decision to a review of its business priorities and investment focus, the company’s exit should be viewed against the backdrop of what he described as Nigeria’s deteriorating business environment.
“Uber may diplomatically describe its decision as a review of its business priorities and investment focus. But Nigerians cannot ignore the bigger picture,” Ibe said.
He attributed the challenges confronting businesses in the country to inflation, currency instability, high operating costs, declining purchasing power and policy uncertainty under the Tinubu-led All Progressives Congress (APC) administration.
According to him, the development raises questions about Nigeria’s ability to retain existing investors and attract new ones.
“The real question is simple: why is Nigeria increasingly becoming a business graveyard, a place where businesses choose to leave rather than invest and expand?” he asked.
Ibe further criticised the administration for what he described as a contradiction between its investment ambitions and the reported decisions by businesses to shut down, scale back or redirect investments away from Nigeria.
“An administration that promised to attract investment cannot continue celebrating economic statistics while companies shut down, scale back or redirect investments elsewhere,” he said.
He called for policies capable of improving the operating environment for businesses, arguing that Nigeria needed an economy where companies could invest, remain profitable and create employment.
“Uber’s exit should therefore be a wake-up call: Tinubu’s economic policies are not yet delivering the investment-friendly Nigeria Nigerians were promised,” Ibe said.
He also took a swipe at the administration’s economic reform agenda, saying, “Indeed, Tinubunomics is powered by ‘bole ka ja’ policies!”
Meanwhile, Uber, in its earlier statement to customers, said it had taken the “tough decision” to wind down its Nigerian operations after a thorough review of its business.
The company said it had been a privilege to serve Nigerians since launching in Lagos in 2014 and apologised for the disruption its departure could cause to customers.
The Nigerian exit coincides with a major restructuring by Uber globally, with the company announcing plans to eliminate approximately 3,300 jobs.
Uber Chief Executive Officer, Dara Khosrowshahi, said the workforce reduction was aimed primarily at management and coordination roles as the company moves to simplify its organisational structure.
In a memo to staff, Khosrowshahi said the company was “removing layers, simplifying team structures, refining our global location strategy” and redirecting employees and investments towards areas with greater growth potential.
He said the affected positions represented about 10 per cent of Uber’s workforce.
According to the CEO, Uber’s revenue had nearly tripled over the past five years, but the rapid expansion of its products, businesses and customer base had also created additional layers of management and fragmented ownership.
Khosrowshahi said the restructuring was intended to make the company “simpler and faster” while creating greater capacity for investment in growth, innovation and emerging areas such as autonomous technology.
COURTESY: PoliticsNigeria
