In an impactful move to address food insecurity, Nigerian startup Egoras has sold over 1,000 bags of its locally produced 50kg of Ella Parboiled Rice at discounted price in Abuja.
Expanding its outreach, the company recently began distribution in Port Harcourt, Rivers State, with plans to launch in Lagos State soon.
The initiative, which began on October 12, 2024, was part of Egoras’ broader social impact strategy. The rice, which is typically sold at N110,000 per 50kg bag due to inflationary pressures, was being offered at a significantly reduced price of N45,000 as part of the company’s charity drive. All purchases were made through the company’s Telegram mini app, Egomartbot, providing a seamless platform for customers to order.
The chief executive officer, Egoras, Ugoji Harry, told LEADERSHIP that the current economic situation has pushed many families into extreme financial strain, offering the rice at less than half its usual market price was the company’s way of giving back and supporting those most in need.
With inflation rates exceeding 30 per cent, 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, Egoras has implemented a one-bag-per-customer policy. “This effort, though small, will hopefully provide relief to those most affected by the rising cost of living,” Harry added.
As Nigeria continues to grapple with economic instability, Egoras’ efforts offer much-needed support to families struggling with soaring food prices. 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.”
