A Nigerian startup company, Egoras, has announced a charity-driven initiative to sell 50kg bags of locally produced rice for N45,000 each from Saturday, October 12, 2024.
This initiative comes as the cost of staple foods surges due to inflation, foreign exchange challenges, and supply chain disruptions.
TimesNow.com.ng earlier reported that rice sellers and dealers are selling 50kg bags of rice above N80,000 from the previous price of N76,000.
The sellers attributed the increase to scarcity and high foreign exchange used to import the product.
Ugoji Harry, CEO of Egoras, expressed the company’s commitment to supporting communities in need during these challenging times.
His words:
Leadership reports that he said the decision is due to the increasing hardship many face in securing basic food supplies,
He added:
Harry emphasized that the discounted rice is not intended for resellers or distributors to ensure the initiative directly benefits those in need.
He explained:
Harry acknowledged the daunting economic challenges facing Nigerians but remained hopeful about the initiative’s potential positive impact and listed locations for the sale.
He said:
In a similar development, TimesNow.com.ng earlier reported that the Nigerian government has begun the sale of 30,000 metric tonnes of milled rice to Nigerians.
President Bola Tinubu disclosed at the flag-off event that the rice is strictly one man, one bag and one woman, one bag.
He stated that the rice would be sold at a flat rate of N40,000 per bag to curb racketeering.
Source: TimesNow.com.ng
