Nigerian Startup's Simple Solution to Slash Soaring Chicken Prices

Published 4 hours ago4 minute read
Nigerian Startup's Simple Solution to Slash Soaring Chicken Prices

The Nigerian poultry market presents a significant economic landscape, with annual consumption reaching approximately 1.5 million tonnes of poultry meat, equivalent to nearly one billion birds. Despite this immense demand, local production only satisfies about 30% of the market. According to market experts like Gbolade Adewole, who coordinates natnudO Foods’ Broiler Outgrower Scheme, this substantial gap translates into Nigerian farmers leaving an estimated ₦600 billion in potential sales unrealized. The core challenges impeding local supply are identified as the high cost of inputs and inefficient pricing mechanisms. Mbanefo Chinonleyum, a former poultry farmer turned startup founder, has firsthand experience with these market complexities and is building Cubeseed Africa to address them.

Chinonleyum's personal journey in poultry farming illuminated the critical flaws within the existing supply chain, particularly the pervasive influence of middlemen. He characterizes these intermediaries as "mini gods" who exert undue control over the market, dictating prices and even determining the production capacity of poultry farms. These middlemen, who connect bulk buyers such as restaurants and hotels with farmers, are accused of driving down farmer prices while selling at significantly higher rates. Furthermore, they frequently delay payments to farmers, disrupting their cash flow and hindering their ability to reinvest in subsequent production cycles. For a farmer producing one batch at a time, a single delayed payment can jeopardize an entire year's production, severely impacting their livelihood.

Cubeseed Africa's innovative approach directly tackles the middleman problem by establishing a marketplace that connects poultry farmers directly with clients requiring their produce. This straightforward solution aims to bring transparency and efficiency to transactions. The platform streamlines the purchasing process for buyers; for instance, a restaurant using the app receives automatic recommendations based on its location and required quantity, reducing a multi-day process to mere seconds. Cubeseed also incorporates features to protect buyers, such as the ability to pre-order produce, safeguarding them against future price hikes. To ensure equitable protection for both farmers and buyers, all payments are routed through an escrow account. This system guarantees farmers that funds are available for their produce while reassuring buyers that payment will only be released upon satisfactory delivery. Going a step further, Cubeseed has partnered with Sterling Bank to offer credit facilities to buyers, ensuring that farmers receive prompt payment even if buyers require deferred payment options.

The vision for Cubeseed Africa extends beyond merely facilitating transactions between farmers and clients; it aims to instill transparency and structure into Nigeria's vast ₦900 billion poultry market, fostering a secure environment for all participants, including investors. Chinonleyum, drawing from his own experiences with investment scams, is committed to ensuring a reliable return on investment for those who engage with the platform. His unique background combines practical agricultural experience—cultivated from an early age assisting his mother on her broiler farm—with a strong corporate foundation. Prior roles in the oil and gas and insurance sectors taught him invaluable lessons in structure and meticulous documentation, which he rigorously applied to his own farm. His detailed record-keeping, even for seemingly minor metrics like water consumption, enabled him to accurately assess bird health and earned him the nickname "Big Chicken."

Cubeseed's journey has involved several key iterations. An initial "no-code" proof of concept swiftly generated ₦27 million worth of orders in a single week, dramatically underscoring the market's unmet demand but also revealing a critical shortage of production capacity among farmers and the necessity for greater farmer aggregation. The overwhelming demand led to a temporary halt in operations. Upon relaunch, while demand remained high, a crucial lesson emerged regarding the vital role of credit in the market, prompting the strategic partnership with Sterling Bank. The startup, which was entirely bootstrapped until securing ₦3 million at the Lagos Innovate Idea Hub 12.0 in January 2026, has since been focused on expanding its farmer database, now boasting over four thousand registered farmers. Cubeseed is poised to launch what is anticipated to be its third and final iteration by the end of February 2026. While remaining open to further funding, Chinonleyum is confident in the startup's revenue generation model, which involves charging a 5.5% fee on all platform transactions. A potential risk involves buyers and sellers bypassing the platform once trust is established, but the integrated credit facility is expected to serve as a significant deterrent. In an era captivated by artificial intelligence, Cubeseed Africa is carving a distinct path by focusing on fundamental structure and coordination to a fragmented agricultural market. Should it succeed in transforming poultry distribution, it not only promises more affordable chicken but also has the potential to establish a foundational framework for similar innovations across other Nigerian agricultural sectors.

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