In a bid to address high food prices, Nigerian startup Egoras has launched a Corporate Social Responsibility initiative aimed at providing discounted rice prices to vulnerable communities.
According to a statement on Saturday, this initiative seeks to ease the financial burden on households struggling with the rising cost of living and food prices.
The Chief Executive Officer of Egoras, Ugoji Harry, said the CSR initiative aimed to bridge the gap between supply and affordability, offering hope and sustenance to families in need.
He disclosed that the programme, which kicked off over the weekend, offered rice at just N45,000 per 50kg bag, down from the market price of N110,000, in Lagos, Abuja, and Port Harcourt.
“The current economic situation has pushed many families into extreme financial strain. Offering this rice at less than half its usual market price is our way of giving back and supporting those most in need.”
He added that all purchases were made through the company’s Telegram mini app, Egomartbot, providing a seamless platform for customers to order.
With food inflation exceeding 30 per cent, according to the National Bureau of Statistics, staple food items like rice have seen dramatic price hikes, making it difficult for many Nigerian families to meet their nutritional needs.
To prevent potential exploitation by resellers, the startup said it had implemented a one-bag per customer policy.
He explained that the measure was designed to discourage bulk purchases by resellers, who might attempt to profit from the discounted price.
“Our goal is to make rice affordable for individual families, not for resellers looking to take advantage of the price reduction,” Harry said.
“The policy will be enforced at all distribution points across the three cities, with staff monitoring sales closely to ensure compliance.”
Harry acknowledged the broader context of food insecurity and economic instability in Nigeria, stating, “We believe that this effort, while small, will provide some relief to those most in need. Every bag of rice sold at this price is helping a family get through these tough times.”