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ArketData Launches Platform to Improve Transparency in Nigerian Food Pricing

Lagos-based tech firm ArketData is tackling Nigeria’s agricultural information asymmetry by providing a real-time, verified food price intelligence platform. By conducting physical audits every 48 hours across major markets like Mile 12 and Dawanau, the platform aims to reduce retail opacity and combat food inflation. The service offers consumers and businesses free, data-backed insights to compare commodity prices, helping to eliminate the "blind" shopping practices that often lead to inflated margins by middlemen. Founder Chike Obimma described the tool as a neutral, independent resource intended to serve as a national reference point for commodity pricing and policy-making. The platform currently tracks key hubs and plans to expand its coverage to over 400 markets nationwide to foster market self-regulation.

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