A new digital platform, Bango Nigeria, has been launched to address persistent price inconsistencies in Nigerian markets by providing buyers with real-time information on the prices of everyday commodities.
According to a statement on Monday, the platform, founded by Ademuyiwa Taofeek and Caleb Adenegan, was created in response to what the founders describe as widespread arbitrary pricing that leaves many shoppers uncertain about the true cost of goods.
The idea, according to Ademuyiwa, was inspired by a personal experience of being overcharged for tomatoes in Lagos, only to later discover that the same produce could be purchased at significantly lower prices from Jos.
The PUNCH reports that Bango Nigeria operates as a community-driven platform where buyers share prices they have paid in different markets, helping other users make more informed purchasing decisions. By aggregating real-time price information, the platform aims to promote fair pricing while highlighting sellers who treat customers transparently.
Ademuyiwa said Bango is all about helping buyers save money and time when they go to the market by providing them with real-time information on what other buyers are paying in markets around them. “It is a system we’ve built to reward fair pricing and sellers that do well by buyers,” he said.
The founders explained that the platform is designed to reward honest market practices. Buyers who encounter price discrepancies can comment on or report inconsistencies, enabling other community members to be aware before visiting the market. Sellers, on their part, must consent to having their pricing information shared before any submission is made on the platform.
Ademuyiwa added, “Buyers are the ones who post these prices. If a buyer goes to a seller based on information uploaded by another buyer, and the seller tries to be inconsistent with pricing, buyers will have the ability to make comments and report the inconsistency for other community members to be aware of. Remember, this is community-driven.
“What we want to achieve is to help everybody save money and time, and this cuts across every part of the process involved in purchasing these commodities and delivery. It is currently bootstrapped because, right now, we want to first show people how letting each other know what the market is saying can help them go to the market more equipped with the right information. This, in turn, empowers them and helps them save money and time.”
In terms of user interface, he said, “At the moment, it is very easy to use. All you have to do is sign up and either find prices or submit prices. We intend to continue to make it easier as we progress. The site usability is very seamless because once you log in, it just pops up.
“It doesn’t matter if you are illiterate or literate when it comes to Bango. It doesn’t require literacy to do well by your buyers; that’s all you need to do as a seller. You do well by your buyers, and your buyers share it with other buyers by sharing the experience on Bango. Before every price is submitted, a seller must consent to their information being shared.”
It was revealed that the name ‘Bango’ is derived from the words ‘bargain’ and ‘go’, reflecting its goal of helping users navigate markets more efficiently.
