After a rough 2024 that saw food inflation spike and the naira slide, Nigerian grocery-tech platform PricePally is switching gears. Once hailed for revolutionising how young Nigerians shop in groups for food staples, the company is now testing a bold new strategy—exporting groceries abroad and integrating AI into its ordering system.
Founded in 2019, PricePally built its name offering group-buying deals for essentials like tomatoes and rice. By 2021, it had expanded into B2B procurement for restaurants and hotels, and by 2023, this segment accounted for a quarter of its revenue. But as Nigeria’s economy dived, that revenue stream dwindled to just 10% in 2024.
“Those two-week payment cycles quickly became three months,” said CEO Luther Lawoyin. The growing delays forced the startup to pause B2B operations altogether. While competitors like Vendease tried to turn these delays into profit by charging daily interest on credit, PricePally took a different path.
Operations resumed this year as conditions improved. “The economy looks much better than last year,” Lawoyin noted, but the company isn’t putting all its eggs back into the local basket just yet.
Instead, PricePally has started shipping Nigerian non-perishables like ogbono and crayfish to the diaspora. With exports happening twice a month via air and sea, this move gives PricePally access to more stable foreign currencies—and consumers willing to pay.
Though U.S. tariffs still pose a challenge, Lawoyin believes the company has a price advantage. “Some Nigerian stores abroad, often run by Pakistanis, face high overheads,” he said, adding that PricePally’s direct-from-farmer sourcing slashes costs.
The pivot wasn’t initially part of PricePally’s plan. But Lawoyin said rising demand from users who migrated abroad nudged them in this direction. “We believe African food has a place on the world stage, and PricePally will help take it there,” he said
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