Firm Sells Subsidised Rice At N45,000 Per 50kg

A Nigerian company has began sale of subsidized rice in a bid to tackle the bad economy in the country.

Daily Report Nigeria gathers that the Nigerian company, Egoras, a startup haa begun subsidizing locally produced Ella rice to Nigerians at N45,000 per 50kg.

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Giving a statement on the new update, the CEO of the company, Harry Ugoji on Thursday said the purpose of the initiative was to help alleviate the hardship in the country.

Also, he added that Egoras has already distributed over 1,000 bags of its locally produced rice in Abuja and has also 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.’’

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“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 added

He added that the company has made purchases easy as it is done through their telegram mini app.