Lagos launches “Ounje Eko” Initiative to combat rising food prices

Estimated reading time: 3 minutes

To combat the rising cost of living, the Lagos State Government has announced the launch of “Ounje Eko” food markets. These markets will offer residents a 25% discount on essential food items, such as rice, beans, gari, bread, eggs, tomatoes, and pepper.

Governor Babajide Sanwo-Olu directed the initiative to begin on Sunday, March 17th, 2024, across all five divisions of Lagos. The discounted sales aim to provide some relief to Lagosians grappling with a cost-of-living crisis.

This disclosure is contained in a statement signed by the Lagos State Commissioner for Information and strategy, Gbenga Omotosho, who said that the markets will offer Lagos residents a 25% discount on staple food items like rice, beans, gari, bread, eggs, tomatoes, and pepper.

Omotosho said this is to prevent sharp practices and ensure the foodstuff reaches a large number of Lagosians, a voucher system will be introduced as the pilot scheme kicks off.

Read Also: Customs launches initiative to alleviate food scarcity

He noted that independent payment solution providers and food vendors have been identified and carefully selected to operate the process, adding that they will also provide real-time data on the exercise for monitoring.

The statement from Omotosho reads, “Governor Babajide Olusola Sanwo-Olu has directed that ‘Ounje Eko’ food markets should commence discounted sale of food items across the five divisions of Lagos effective from Sunday, March 17, 2024.

“The food items – rice, beans, gari, bread, eggs, tomatoes, pepper, among others – will be sold at 25% discount to residents.

“In order to prevent sharp practices and ensure the foodstuff reaches a large number of Lagosians, a voucher system will be introduced as the pilot scheme kicks off.

“Independent payment solution providers and food vendors have been identified and carefully selected to operate the process. They will also provide real-time data on the exercise for monitoring.”

To ensure fair distribution and prevent exploitation, the program will utilize a voucher system. Independent payment providers and food vendors have been carefully selected to manage the voucher process.

This initiative comes amidst a nationwide cost-of-living crisis in Nigeria, with Lagos being a major economic hub and often seeing price fluctuations more acutely. The Lagos State Government hopes “Ounje Eko” will make essential food items more accessible for residents.