Nigeria, Sept. 8 -- Uber has left Nigeria.

After twelve years of operating in the country, the global ride-hailing company announced that it was winding down its Nigerian operations from 2 September. To many, this appeared to be an abrupt decision, particularly following the recent banning and subsequent unbanning of the company and similar operators from Nigerian airports. To keen watchers of the economy, however, it was an event waiting to happen; the only question was when.

The announcement has understandably generated another round of debate about Nigeria's business environment, government regulation, the treatment of investors and the economics of operating businesses in the country. But I think there is a danger in trying too quic...