Startup firm begins sale of subsidised rice at N45,000 per 50kg

A Nigerian startup, Egoras, through its charitable initiative, has begun the distribution of its subsidised locally produced Ella parboiled rice to Nigerians at N45,000 per 50kg. The company’s Chief Executive Officer, Harry Ugoji, said this in a statement on Thursday in Lagos. Mr Ugoji said that the initiative was to alleviate the rising cost of food affecting households across the country. He said the company had already distributed over 1,000 bags of its locally produced Ella Parboiled Rice in Abuja and expanded distribution to Port Harcourt, Rivers State, with plans to begin in Lagos soon. He said,

“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. 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.’’

He said that the initiative, though small, would provide relief to those most affected by the rising cost of living. He said, “Egoras efforts offer much needed support to families struggling with soaring food prices and aims to bridge the gap between supply and affordability. We believe that this effort, while small, will provide some relief to those in need. Every bag of rice sold at this price is helping a family get through these tough times.” He said that all purchases were made through the company’s Telegram mini app, Egomartbot, providing a seamless platform for customers to order. The initiative, which began on October 12, is part of the company’s broader social impact strategy and charity drive.