“I think it’s more likely random,” Detective Inspector Mick Hughes said.
“He’s [the attacker] seen him get out of the taxi at the end of the shift… Probably working on the assumption he’s got money.”
Mr Muketar’s phone and wallet were still beside him, police said.
`The man was found on Napier Street about 11.30pm. (9NEWS)
Police said he had sustained upper body injuries, believed to be from an edged weapon.
It is believed he had finished his shift in his taxi last night and was walking home, before he was attacked about 30 metres from his taxi.
Paramedics tried to save Mr Muketar but he went into cardiac arrest and died at the scene, close to the Fitzroy police station.
“If you are not safe in front of a police station, where are you going to be safe?” Mr Muketar’s friend Abdul Qani asked.
Police have reviewed CCTV from inside the cab and have confirmed he did not have a passenger inside when he stopped.
Detectives are looking for a young man seen running from the area who has been described as being 183 centimetres tall with dark clothing, shoulder-length hair and carrying a satchel.
A Somalian refugee, Mr Muketar had been driving taxis for more than ten years.
“Of course, we are very devastated. He was a very lovely boy, social, talented,” his uncle Mohammed Goud said.