By STELLAMARIS ASHINZE

A Nigerian Startup, Egoras on Wednesday announced the launch and sale of its locally produced Ella Parboiled Rice at a subsidised price.

The Chief Executive Officer, Egoras, Mr Harry Ugoji, said in a statement that the rice would be sold at a significantly reduced price of N45,000 per 50kg bag.

He said that the sale was in a bid to provide succour to Nigerians in the face of rising food prices.

?This project, which will begin on Oct. 12, is designed as a social impact, akin to a charity donation.

?Nigerians will be getting some relief from the impact of food inflation.

?The current economic situation has pushed many families into extreme financial strain.

?We understand that food is becoming unaffordable for many households, and as a company we feel a responsibility to support our communities.

"This rice, which is locally produced, will ordinarily sell for almost double the price, but we are offering it at N45,000 to make it accessible and affordable,?? he said.

According to Ugoji, in addition to providing affordable rice, the company has ensured convenient distribution with pickup points in Lagos, Abuja and Port Harcourt.

He said that with food prices at record highs, the launch of Ella Parboiled Rice came at a crucial time for consumers who are unable to afford basic food staples.

The Egoras boss stressed that the discounted rice was not intended for resellers or distributors, adding that a customer was restricted to buying only one bag of rice to prevent exploitation.

He said that Egoras would ensure that as many households as possible benefitted from the initiative.

?This is a way of giving back, and we?re trying to reach everyday Nigerians who need this the most,? Ugoji said.

He said that Egoras believed that this effort, while small, would provide some relief to those most in need.

He added that every bag of rice sold at this price was helping a family get through the tough times.

According to him, it hopes to bridge the gap between supply and affordability, and offer some relief to Nigerians in a difficult time.

The News Agency of Nigeria reports that Egoras is a Nigerian startup that provides uncollateralised micro-credit to small entrepreneurs. (NAN)

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