A new documentary shedding light on Nigeria’s agricultural landscape is drawing attention to the important role of food technology in stabilising food supply chains and supporting farmers.
The initiative, facilitated by popular foodtech and e-commerce platform, PricePally, focuses on challenges faced by farmers in Nigeria such as post-harvest losses, price fluctuations, and market access. It also highlights how innovative solutions from PricePally are transforming the sector.
Speaking in the documentary, a farmer like Femi Banjo narrated how he turned around his misfortune with the help of the foodtech company. Banjo, who switched to crop farming, struggled with unfair pricing in the traditional market. However, PricePally provided him with a direct-to-consumer model that offered fairer rates and ensured a steady market for his produce.
Similarly, Seyi Awolola, CEO of Oled Farms, shared his experience of dealing with excess supply, a common issue that leads to significant financial losses.
“We had a serious glut with tomatoes and couldn’t move our produce. PricePally has given us an avenue to sell and reduce waste. They have become our main market because they pay better and ensure easy access to buyers,” he said.
Speaking on the efforts of PricePally as captured in the documentary, the company’s GSMA Project Manager, Benjamin Ogunbola, stated, “Farmers are at the heart of our mission to make quality food accessible. By helping them grow, harvest, and distribute effectively, we are improving food availability and affordability.”
While the documentary spotlights the impact of PricePally’s foodtech solution to challenges of consumers and farmers in Nigeria, its Stew Index report, which analysed the cost of preparing stew, an everyday delicacy in Nigeria, provides insights into the everyday struggles of Nigerians with the cost of feeding.
Between 2022 and 2023, the cost of essential ingredients to prepare Nigeria’s most popular soup — beef stew — rose by 16.77% in Lagos and 20.84% in Abuja. Similar hikes were recorded for chicken, turkey, and goat meat stews.
The 2024 edition of the report noted similar trajectories as high food inflation rate doubled the price of key stew ingredients, including tomatoes, onions, and proteins. The price hike could be linked to economic instability, supply chain disruptions, and climate-related challenges.
