Nigeria’s Retail Market Poised for Agentic AI Revolution – Juliet Anammah
Nigeria’s retail industry is standing at the threshold of an artificial intelligence (AI) revolution, ready to harness agentic AI for growth, inclusion, and efficiency. This was the central message delivered by Juliet Anammah, Founder and CEO of CG&R Strategy LLC, at the Africa Retail Congress 2025 held at the Lagos Business School.
Speaking at the event themed “Transforming Retail with Emerging Technologies,” the former Jumia Nigeria CEO emphasised that Nigeria’s informal yet dynamic retail market is well-positioned to benefit from AI’s rapid advancements.
“Retail has always been seen as part of another industry—manufacturing, banking, or logistics. It’s time to see it as a standalone asset class,” Anammah said. “We are ready for agentic AI. Nigerians love to talk, and AI can amplify that natural engagement into smarter, data-driven commerce.”
Retail: The Fastest Industry to Embrace Technology
Anammah highlighted retail as one of Nigeria’s most technology-absorptive industries, noting its swift adoption of warehouse management systems, digital payments, and last-mile logistics tools.
“Studies show that retail is the fastest industry to adopt new technology,” she said. “Whatever the consumer adopts, retail quickly integrates, that’s our edge.”
She drew global parallels, referencing innovations such as Amazon’s “Just Walk Out” stores, Walmart’s ChatGPT-powered shopping, and the OpenAI–Stripe commerce protocol, which enable seamless, conversational transactions.
According to her, similar breakthroughs could soon transform African retail, especially with conversational AI agents embedded in local platforms.
“Imagine a local trader in Nasarawa chatting with an AI named Obi,” Anammah explained. “Obi reminds them what to restock, tracks inventory, and drives more sales — that’s not science fiction, that’s now.”
Designing Inclusive AI for Informal Markets
Despite the promise of AI, Anammah cautioned against overlooking the digital divide, noting that about 60% of Nigerian consumers still use feature phones.
She called for inclusive design that reflects local realities, emphasising that informal markets, kiosks, neighbourhood shops, and tabletop sellers are not obstacles but opportunities.
“We must build technology that works with informality, not against it,” she stressed.
Anammah also advocated for retail-driven investments in infrastructure and digital access.
“Retailers should be the ones investing in roads and digital inclusion. Without those, the cost of reaching the consumer remains high.”
She concluded with optimism:
“If there’s anything Nigerians know how to do, it’s to talk. We are ready for agentic AI — and ready to reshape African retail with it.”
Data, Not Malls, Will Power Nigeria’s Retail Future
Also speaking at the congress, Omniretail CEO Deepankar Rustagi underscored that Nigeria’s retail revolution lies not in shopping malls or Western franchise models, but in the data-driven transformation of neighbourhood stores.
“97% of overall trade in Nigeria happens through neighborhood stores,” Rustagi said. “Across Africa, traditional trade still accounts for around 75% of total retail transactions.”
He cautioned against replicating Western retail formats such as Walmart or 7-Eleven, arguing that Africa’s unique infrastructure and consumer behaviours demand localised solutions.
“Driving ten kilometers to a big mall is not convenience,” he noted. “Walking to your local store and getting what you need at the right price is.”
Rustagi emphasised that data is the key differentiator between traditional and modern retail.
“The difference between a traditional store and a modern store is only one thing — data,” he said. “Most Nigerian retailers currently operate on intuition rather than insight.”
Through its digital platforms, Omniretail is helping thousands of merchants access tools for smarter inventory management, pricing, and customer engagement. Rustagi believes that democratizing data will unlock Nigeria’s multi-trillion-naira retail potential.
Key Takeaway
Both Anammah and Rustagi agree that Nigeria’s next retail revolution will be AI- and data-driven, not infrastructure-heavy. With agentic AI enabling conversational commerce and data empowering small retailers, Nigeria’s informal markets could soon become the epicentre of Africa’s digital retail transformation.
