01. INTRODUCTION – Project Overview

The Price Marketplace is a digital platform designed to reduce the wide and frustrating price variations across food markets in Nigeria.

  • Merchants can log in daily to update the prices of their food items.
  • Consumers can access the platform to see up-to-date prices and make better shopping decisions.
  • Government agencies and research bodies can use the aggregated price data for monitoring, regulation, and policy development.

By promoting price transparency, the platform helps consumers save money, gives merchants visibility, and enables policymakers to work with reliable food price data.

02. MORE DETAILS

The Price Marketplace will serve as a crowdsourced, community-driven platform where users (merchants and consumers) upload and access foodstuff prices from their local markets.

Key Features (Available at Launch)

  • Daily Price Updates: Real-time information from merchants and consumers.
  • Market Comparisons: Identify markets or stores offering lower foodstuff prices.
  • Reliable Data: Governments and research institutions gain insight into foodstuff availability and affordability.

Planned Features (Coming in Future Updates)

  • Best Time to Shop: Recommendations on when foodstuff prices are lowest.
  • Shortest Routes: Navigation to the nearest/cheapest market with real-time traffic updates.

These updates will make the platform more intelligent and impactful over time.

03. BEYOND PRICES – Reducing Carbon Emissions

Background

Transportation is a leading source of greenhouse gas (GHG) emissions worldwide. Carbon dioxide (COâ‚‚) accounts for the largest share. Road transport contributes roughly 76% of transport emissions. Over the past 30 years, transport emissions have risen faster than those of any other sector, and developing countries like Nigeria are experiencing rapid increases.

The Price Marketplace Contribution

  1. Information Instrument – By checking food prices online, consumers can decide when and where to shop. This prevents unnecessary trips, cutting down on transport fuel use and emissions.
  2. Technology Instrument (Future Updates) – Shortest Routes will direct users to the nearest or cheapest markets with real-time traffic updates, helping avoid congestion and minimizing time and emissions in transit.

Together, these tools encourage smarter shopping decisions that also contribute to climate sustainability.

04. GUARANTEEING PRICE ACCURACY

Since the platform depends on user input, accuracy is ensured through scale and validation:

  • The majority of users will provide genuine prices because it benefits them.
  • False data, if entered, will be outweighed by the volume of accurate entries, shifting averages toward the real market price.
  • Community reporting tools and data validation systems will further strengthen accuracy.

This ensures that the average price displayed for each item reflects reality and remains reliable for consumers, merchants, and governments.