Nigeria’s retail sector is primed for an artificial intelligence transformation, says Juliet Anammah, Founder and CEO of CG&R Strategy LLC. Speaking at the Africa Retail Congress 2025 held at Lagos Business School, the former Jumia Nigeria CEO declared that the industry is “ready for agentic AI.”
“Retail has long been seen as an offshoot of manufacturing, banking, or logistics. It’s time to view it as a standalone asset class,” Anammah said, noting that Nigeria’s informal yet dynamic retail network is uniquely positioned to benefit from emerging AI innovations.
She described Nigerians’ natural conversational culture as a strength, adding, “We are ready for agentic AI. Nigerians love to talk, and AI can turn that engagement into data-driven commerce.”
The congress, themed “Transforming Retail with Emerging Technologies,” brought together industry leaders, policymakers, and academics to explore strategies for integrating AI, data, and digital tools into Africa’s formal and informal retail ecosystems.
Retail: The Fastest Adopter of Technology
Anammah emphasised that retail, often labelled “informal,” is one of Nigeria’s most technologically adaptive sectors.
“Studies show that retail is the fastest industry to adopt new technology,” she said, citing widespread adoption of warehouse management systems, payment solutions, and last-mile logistics.
She referenced global trends such as Amazon’s ‘Just Walk Out’ stores, Walmart’s ChatGPT-enabled shopping, and Stripe’s AI-driven commerce protocols, saying Africa could achieve similar breakthroughs using conversational AI agents.
“Imagine a local trader in Nasarawa chatting with an AI named Obi that tracks inventory and advises restocking,” she said. “That’s not science fiction – that’s now.”
AI for the Informal Economy
Despite the optimism, Anammah cautioned that AI adoption in Africa must remain inclusive. With about 60% of Nigerians still using feature phones, she urged developers to design solutions “for small wallets and local realities.”
“The kiosk, the neighbourhood shop, and the tabletop are not problems to be formalised, they’re opportunities,” she stressed. She also called for greater investment in logistics infrastructure and smartphone penetration to expand digital access.
Data, Not Malls, Will Drive Retail Growth
Also speaking, Omniretail CEO Deepankar Rustagi said Nigeria’s retail future lies not in malls or foreign franchises, but in data-driven transformation of traditional neighbourhood stores.
“Ninety-seven per cent of trade in Nigeria happens through neighbourhood shops,” Rustagi said. “Across Africa, traditional trade still accounts for about 75 per cent of transactions.”
He warned against copying Western retail models, emphasising instead local convenience, affordability, and data utilisation. “What separates a traditional store from a modern one is data,” he said. “Retail in Nigeria has grown, but mostly on intuition, not insight.”
Rustagi added that Omniretail is helping small merchants make smarter decisions through digital tools that enhance pricing, inventory, and customer management. He believes democratizing data access will unlock Nigeria’s multi-trillion-naira retail potential.
