7 Young Entrepreneurs Shaking Up Nigeria’s Billion-Dollar Food Industry

Thanks to a new generation of tech-savvy entrepreneurs, Nigeria’s food service industry is growing rapidly. The country’s love for food, combined with the rise of online ordering and food delivery services, has created a massive market opportunity. In 2023 alone, Quick Service Restaurants (QSRs) took up more than half of the market, with people in cities like Lagos increasingly relying on convenient, affordable meals. The industry, currently valued at over $10 billion, is projected to hit a whopping $17 billion by 2029.

This growth isn’t happening by accident. It’s fueled by Nigeria’s large population, who spend around 60% of their income on food, and by the increasing demand for fast, easy food delivery services. Let’s take a look at seven young entrepreneurs leading the charge in shaking up Nigeria’s booming food industry.

Oscar Pierre – Co-Founder and CEO of Glovo

Oscar Pierre isn’t Nigerian, but his company Glovo has made a big impact on the country’s food delivery market. Launched in 2014, Glovo allows users to get food, groceries, and even medicine delivered straight to their door. Under Oscar’s leadership, Glovo has grown to operate in over 500 cities globally, including major cities in Nigeria. The company’s success lies in offering more than just food delivery, expanding its services to meet all types of on-demand needs.

Henry Nneji – Co-Founder of FoodCourt

Henry Nneji is the co-founder of FoodCourt, a startup that lets customers order food from multiple restaurants in one go. The idea behind FoodCourt is simple: give people more variety and flexibility when ordering food.

Since launching in 2021, FoodCourt has joined Y Combinator, a global accelerator program, and has been steadily growing its presence in Nigeria’s food delivery market.

Tosin Onafuye – Co-Founder of ChowCentral

Tosin Onafuye co-founded ChowCentral with the vision of creating virtual restaurants that operate out of existing kitchens. This allows the company to provide high-quality meals without the overhead of a physical restaurant.

Since starting in 2022, ChowCentral has already achieved monthly revenues of $105,000, by focusing on delivering authentic West African dishes. Tosin’s ability to combine tech with traditional cuisine has set him apart in the food industry.

Babafemi Aluko – Co-Founder of Chowdeck

Babafemi co-founded Chowdeck in Lagos in 2021, aiming to make food delivery smoother and faster. Before this, he had years of experience in tech, including working at Paystack as a Senior Software Engineer. Chowdeck has quickly gained popularity by connecting customers to their favorite local and international restaurants.

Within just six months, the platform delivered over 80,000 meals. Recently, Chowdeck raised $2.5 million in seed funding to further expand its reach across Nigeria, making dining even more convenient for customers.

Guy Futi – Co-Founder and CEO of ORDA

Guy Futi launched ORDA in 2020 with one goal in mind: to help African food merchants grow their businesses through technology. ORDA provides tools that allow restaurant owners to streamline their operations, improving everything from menu management to delivery logistics.

Guy’s background in management roles at Jumia and his studies at Oxford and Harvard have helped him build a strong foundation for ORDA’s success.

Luther Lawoyin – Founder of PricePally

Luther Lawoyin founded PricePally in 2019 to solve a common problem in Nigeria: high grocery costs. PricePally connects customers directly to farmers and wholesalers, allowing people to buy in bulk and save money.

This not only benefits consumers but also helps farmers by reducing food waste and ensuring quicker sales. Luther’s innovative business model has earned PricePally a reputation as a game-changer in Nigeria’s grocery market.

Yinka Adewuyi – Co-Founder of GoLemon

Yinka Adewuyi is the brains behind GoLemon, an online grocery delivery service launched in 2023. With a background in product management at Paystack, Yinka brought his tech expertise to the grocery industry, making it easier for Nigerians to shop from the comfort of their homes.

GoLemon connects directly with farmers and suppliers, ensuring fresh and affordable groceries for Lagos residents. In just four months, GoLemon hit N150 million in sales, a testament to its popularity.