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Moove launches Moove Cares Program in Nigeria   in response to escalating prices

 Moove, the mobility fintech platform, has  launched Moove Cares’ program, introducing a substantial support package aimed at mitigating the adverse effects of ongoing inflationary prices in Nigeria.

The program is aimed to cushion its customers from challenges posed by rising fuel prices and the additional burden of inflationary food prices on household budgets, Moove is providing support both at work and at home. This program includes fuel subsidies to assist with business operations and a comprehensive care package to support households during these difficult times.

Taiwo Ajibola, Moove’s Regional Managing Director for Nigeria, elaborated on the program objectives, “As a listening organisation, we understand from our customers’ feedback the pressing need for support amidst the ongoing cost of living crisis affecting both fuel and food prices. Our Moove Cares program is our small way of providing some much needed support to our customers amidst this extremely challenging economic environment.”

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This program underscores Moove’s dedication to ensuring its positive impact in the lives of its customers, especially against the backdrop of Nigeria’s challenging and chronic economic landscape. Considering the cost of living crisis across many of its markets, as part of its unwavering commitment to customer welfare, the company is rolling out similar initiatives globally to support impacted customers.

Nigeria, Africa’s largest economy, is grappling with an acute cost of living crisis and food prices, exacerbated by a confluence of factors including severe inflation, currency fluctuations, and logistical disruptions. This crisis has pushed essential food items beyond the reach of many, with the Nigeria Bureau of Statistics reporting a staggering 35.41% food inflation rate in January 2024 alone.

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In the wake of the removal of the fuel subsidy in May, fuel prices in Nigeria have soared to an all-time high, reaching N610 per litre, marking a significant increase from the previously subsidised price of N264 per litre in March 2023. This sharp increase of fuel costs by 131% has had a ripple effect across various sectors, notably leading to increased transportation fares and a substantial hike in the prices of food and other essential goods.

Recognising the urgency of the situation, Moove has committed to distributing free-of-charge ‘Moove Cares’ packages worth over N150,000 to each of its customers. Starting next week, the program aims to mitigate the impact of high fuel prices and escalating food prices, particularly during the critical periods of Easter and Ramadan celebrations.

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‘Moove Cares’ is a testament to Moove’s proactive approach towards corporate social responsibility and customer focused support in these challenging times for the country.

Since its inception in 2020, Moove has been at the forefront of democratising access to financial services for mobility entrepreneurs. With a presence in 9 markets globally, Moove’s innovative platform has facilitated over 30 million trips, significantly impacting the lives of 80,000 of its customers and their dependents.

Milcah Lukhanyu
Milcah Lukhanyuhttps://techmoran.com
I cover tech news across Africa. Drop me an email at [email protected]

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