In response to the rising cost of living and soaring food prices, Nigerian startup Egoras has unveiled a Corporate Social Responsibility (CSR) initiative aimed at providing discounted rice to vulnerable communities. Announced on Saturday, the program seeks to alleviate the financial strain on households grappling with increased food costs.

Ugoji Harry, the Chief Executive Officer of Egoras, stated that the initiative aims to bridge the gap between supply and affordability, offering hope and sustenance to families in need. The program kicked off over the weekend, offering rice at a significantly reduced price of N45,000 per 50kg bag, compared to the market price of N110,000 in major cities such as 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,” Harry said.

To facilitate the purchase process, Egoras has integrated a Telegram mini app called Egomartbot, providing a seamless platform for customers to order their rice. However, to prevent potential exploitation by resellers, the startup has implemented a one-bag-per-customer policy. This measure is intended to discourage bulk purchases that could be resold for profit.

“Our goal is to make rice affordable for individual families, not for resellers looking to take advantage of the price reduction,” Harry explained. “The policy will be enforced at all distribution points across the three cities, with staff monitoring sales closely to ensure compliance.”

With food inflation exceeding 30%, as reported by the National Bureau of Statistics, staple items like rice have experienced dramatic price hikes, making it increasingly difficult for many Nigerian families to meet their nutritional needs.

Acknowledging the broader context of food insecurity and economic instability in Nigeria, Harry stated, “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.”