PalmPay partners with Lagos State Government to provide payment solutions for ‘Ounje Eko’ food discount initiative

PalmPay, a leading fintech platform in Nigeria, has announced a strategic partnership with the Lagos state government to enhance the ‘Ounje Eko’ initiative, a weekly food discount market program. This collaboration is set to provide efficient payment solutions that will facilitate easier transactions for both residents and businesses participating in the Food Discount Market.

The ‘Ounje Eko’ initiative, which translates to ‘Lagos Food’, is a food subsidy program championed by Lagos State Governor Babajide Sanwo-Olu. The program is designed to offer relief and support to the citizens of Lagos by making food more affordable, especially in light of the country’s escalating inflation rates.

The payment system for ‘Ounje Eko’ is based on a QR-code-enabled platform, which utilizes the services of the Nigeria Inter-Bank Settlement System (NIBSS) on behalf of the financial services industry. This digital payment method is expected to streamline the process of buying and selling within the initiative, making it more accessible and convenient for all involved.

The ‘Ounje Eko’ program is currently operational across various locations in Lagos State, with 27 market sites in Ikeja, six on Lagos Island, nine in Ikorodu, five in Epe, and 10 in the Badagry division. These locations span the five divisions of the state, ensuring widespread access to the benefits of the initiative.

Enakeno Umuteme, the Head of Marketing Communications at PalmPay, expressed in a statement that the partnership with the Lagos state government is a significant step towards enhancing the state’s agricultural initiative with robust payment solutions. By equipping residents and businesses with the necessary financial tools, the partnership aims to empower them to better cope with the economic challenges posed by rising inflation.

Umuteme praised the ‘Ounje Eko’ initiative as a commendable effort that is actively contributing to mitigating the impact of inflation on the citizens of Lagos, providing them with much-needed financial relief in these trying times.