Data from the National Bureau of Statistics (NBS) in Nigeria has shown that an increase in food prices has forced Nigeria’s inflation for the month of January 2020 to hit 12.13 percent.
The need for Nigeria and other African countries to get easy access to affordable food, to end hunger and malnutrition has again being brought to fore.
One of the ways to achieve this is the introduction of an innovative Aggrotech Product by technology experts.
Speaking at the launch of Grocedy, a crowd-funding platform that helps low and middle-class people purchase food items in small quantities and at wholesale prices, through a monthly subscription, the Chief Executive Officer, WorldPay Technologies, Lanre Smith, said the motive for setting up the outfit is to facilitate food accessibility for all.
Smith said: “For a lot of people food is not affordable. Prices of food are more than what many families can afford, so they end up buying in tiny quantities. The smaller the quantity you buy-in, the more you will have to spend in the long run.
“I sat down with my team and asked how do we make food affordable. We came up with the bold idea that people can crowd-fund to purchase food. We’ll gather everybody’s money, buy in large quantities and distribute it to those that paid for. That will help to lower the overall cost.”
Smith said the product is already creating a lot of excitement across Lagos, as many low-income Nigerians are thrilled that they can now buy their food items in bulk, at an affordable price, yet pay in installments.
One of the excited customers, Kazeem Aworo, a trader at Ikorodu market commended Grocedy for its initiative, adding that since he joined the program he no longer had to worry about soaring food prices. “I am able to afford food for myself and my family because Grocedy has made it affordable and allow me to pay in a small daily installment, which is good for me,” he said.
Another subscriber, Owolabi Adenike, who trades in motor spare parts in Lagos, lamented how it was impossible for her to adequately provide for her family, but with Grocedy, such weight has been taken away.
In Nigeria, Report of a study led in Bauchi by the News Agency of Nigeria (NAN) has shown that ranchers in the express never again consider nourishment crops development gainful this season, subsequently, they have moved consideration toward money crop development.
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