A Nigerian fintech company, Moniepoint, has showcased how Nigerians have embraced digital transactions for food distribution through its network of terminals.

In a private screening on Friday, in Abuja, the fintech company invited selected guests for their latest case study ‘inside Nigeria’s food chain.’

The case study which includes a 12-minute documentary explored Nigeria’s food industry’s supply chain, focusing on the North-East region, particularly Borno State, and highlighted the cultivation and distribution processes connecting local farmers to the broader national market.

According to the Vice President Corporate Affairs for Moniepoint, Didi Uwemakpan, the aim of the research was to dive into how Nigerians embrace digital transactions and how farmers and traders in northern Nigeria are growing with moniepoint.

Ms Uwemakpan explained that some of Moniepoint employees travelled to Borno State for one week to observe the farmers and traders to see what people buy, how they are buying and how often people make purchases.

She added that Moniepoint processes over N35 trillion a month for business and sought to uncover the stories behind the transactions and what they mean for Nigeria.

She noted that during their observations they discovered that farmers and sellers were diligently making use of moniepoint services such as its terminals, bank accounts, payment tools, bookkeeping tools among others to trade and distribute food across the nation.

Also, the senior communications specialist of moniepoint and lead producer of the documentary, Bofamene Berepamo, reflected on her research trip to Borno State, saying, “Initially, I felt anxious and excited due to security concerns, but the experience was worth it.’’

She added that she gained firsthand insight into Nigeria’s food cultivation and distribution processes, learning far more than she ever knew.

She noted that Borno State was often defined by negative narratives of terrorism, overshadowing its strengths. Therefore, the documentary does not only focus on showcasing Moniepoint’s role in supporting food distribution but also reveal the state’s agricultural diversity, which contributes significantly to feeding millions of Nigerians.

She stated that farmers in the state put in efforts daily to produce diverse crops such as rice, grains, tomatoes, and pepper, as well as livestock such as chicken, goat, and cattle, which are then distributed across the country.

Ms Berepamo shared how Moniepoint also supported the food distribution.

Referring to generational farming, Ms Berepamo noted that a second generational trader identified as Mohammed continued his family agricultural business from his father who has been trading grains in Maiduguri’s Monday Market for 50 years relying on local farmers.

Ms Berepamo stated that Mohammed told them how the business experienced significant changes with customers now shifting towards digital payments and farmers and traders now enjoying the convenience of not having to carry large amounts of cash or rely on handwritten notes or memory to keep track of transactions, marking a departure from the traditional practices of his father’s generation through usage of Moniepoint digital tools.

Also, she mentioned Mohammed another farmer, who operates a small poultry and animal feed shop, selling chicks and feeds to small scale poultry keepers who raise chickens in their backyard for personal consumption or local resale, adding that some of his bulk buyers often resell to other towns, extending his business reach.

According to Ms Berepamo, Mr Mohammed business reaches many states which includes Ibadan, Kaduna and Kwara states with impressive sales figures of selling 5,000 chicks out of 6,000 chicks he brings in on a daily basis and in peak seasons like Sallah, he clear a whole truckload of feed, 1200 bags which is approximately 30 tons of feed in just two to three days.

She emphasized that the data highlights the critical role of infrastructure development, especially in rural areas, and transport security in supporting agriculture and food distribution.

Ms Berepamo also noted that Borno State stands out as a significant regional hub, producing over two million metric tons of staple crops annually, adding that the state is home to prominent cattle herders who transport large herds of 250-350 cattle in a single trip to major cities such as Port Harcourt, Lagos, and Abuja.

She held that Moniepoint has further boosted the pace of the trades and distribution in the region by enabling smooth payments and instant alerts for each purchase.

Ms Berepamo also mentioned two rice farmers, Isiaka and Abacha, who make use of Moniepoint to collect payments and told her that “Customers prefer Moniepoint for large transfers because it’s instant and reliable. Withdrawals are easy with my moniepoint card, and I get immediate alerts and balance updates.”

Another rice farmer, Isah, disclosed that before when customers came with cash, if the amount was large, he would feel uncomfortable receiving it because of the risk and take the customer to the bank to deposit the money directly to his account because he didn’t want to carry too much cash. 

He said that now with Moniepoint, payment can now be made from any account to his own account with no issue.

Ms Berepamo noted that having Moniepoint signified to buyers that a particular trader is ready for sale as traders revealed that some customers now prefer digital payment methods including transfers and point of sale (POS).

She disclosed that a grain retailer disclosed to them that he hadn’t planned to become a Moniepoint user, but the market left him with no choice as customers now expect businesses to accept PoS or transfers and those that don’t risk losing customers.

Furthermore, Ms Berepamo noted that Moniepoint as a Nigerian company has been able to achieve such impact through adopting the use of Hyperlocal support to build trust with its users tailoring its services to fit the existing lifestyle and trading habits of Nigerians.

Meanwhile, the head of media and communications at Moniepoint inc, Bemigho Awala, disclosed that the company was harnessing the knowledge of intergenerational farmers to develop solutions that resonate with Nigerians by integrating technology within familiar systems.

Mr Awala stated that Moniepoint would collaborate with the Borno State Government and stakeholders to bridge gaps in knowledge transfer, deepen value creation and ensure widespread adoption.