Best Ideas 2018 features all the nominated entries submitted to the Youth Citizen Entrepreneurship Competition under ‘Submit your Idea’ category. All the entries consist of innovative solution or proposition for an enterprise that champions the Sustainable Development Goals. They can be on the conceptual, planning, or start-up stage. If you want to know the 10 finalists in this category, click HERE
Explain your idea in details:
My idea is to solve the problem of rice scarcity and its exorbitant price in my community. The idea is to establish a rice milling industry which will process rice in larger quantities, package the rice in different sizes and sell at lower prices to the population of my community. My idea is to enhance food security and to provide employment opportunities to the huge number of unemployed youths in my community. The main objectives of my idea are as follows: 1. Eradicate scarcity of rice in my community 2. Make rice affordable to everyone in the community 3. Provide employment to the huge number of unemployed youths in my community 4. Eradicate hunger and unemployment in my community. To realize my idea, the following activities need to be completed: Purchase and installation of a new rice processing plant. Purchase of raw paddy rice from farmers, before the business start farming its own rice. Processing the raw paddy rice through parboiling, drying, and milling. Packaging the processed rice into different sizes. Offering the processed rice to customers at the lowest price possible.
Expected impact of your idea on sustainable development
My idea will have huge impact on food security as it a best approach towards attaining zero hunger status in my community. This idea of mine is also expected to have a large scale impact on unemployment in my community because huge number of unemployed people will get employed. Providing employment to a large number of people is a good step toward attaining no-poverty status among humanity, in another words, it is a solution to poverty. My idea targets the entire Nigerian population where problems of food insecurity and unemployment remained major challenges or threats to their survival. Nigeria has a population of over one hundred and eighty million people. The success of my idea could be evaluated based on the following measures: 1. Has the price of rice become lowered to a level where everyone can afford it? 2. Has rice become available to everyone after the implementation of my idea? 3. Has the rate of hunger decreased among my community? 4. Has the quality of processed rice improved in my community? 5. Are more people being employed through the implementation of this idea? 6. Has poverty rate decreased among the population of my community?
Plans for implementation and sustainability
As my business idea is to ensure food security through establishing a rice milling plant that will offer good quality processed rice at the lowest price possible and also provide employment to the unemployed, the target customers of the business are as follows: Households Restaurants Schools Retailers wholesalers The business idea is to solve the problem of rice scarcity, its exorbitant price, and its bad quality. The idea is to provide solution to food insecurity. The value to be delivered by this business is accessibility to high quality rice. The business will reach customers through online and offline promotional activities such as advertisement through website, Facebook and other social media platforms, TV and Radio, phone calls and SMS, signboards, leaflets, as well as through family, friends, colleagues, etc. To maintain customers, the business will deliver excellent customer oriented services to maintain the highest level of customer satisfaction. The business will generate revenue through the sales of its processed rice to customers who will pay money in exchange for the rice. The cost of establishing this business is approximately 500,000,000 (five hundred million naira) which is approximately equal to $1,390,821 (one million three hundred and ninety thousand eight hundred and twenty one US dollars). This cost include land, building, machinery, working capital, and everything in between. When the work for this business project began, it will be completed in six months, when full capacity rice processing will be attained. The profit margin for the business is 32%. The business will seek subsequent financing from the Central Bank of Nigeria (CBN), Bank of Industry (BOI), Small and Medium Enterprises Funds, Government, as well as from other international organizations such as International Finance Corporation (IFC). To ensure smooth flow of the business, the business will collaborate with the National Rice Millers Association of Nigeria (NRMAN), Rice Farmers Association of Nigeria (RIFAN), Manufacturers Association of
I am a 29 year old Nigerian, with a bachelor of technology (B.Tech. Hons) degree in Library and Information Science, from Modibbo Adama University of Technology (Mautech), Yola, Adamawa State, Nigeria. I live in Jalingo the capital city of Taraba State, my home state in Nigeria. I am motivated by my creative thinking, intellectual capacity, and the feeling of stronger responsibility to provide solutions to the challenges threatening the life and survival of humanity entirely. Indeed, my motivation originates from my desire to ensure quality of life in every community. Qualities contributing to my success include integrity, innovative thought, commitment, prudence, gratefulness, courage, tolerance, freedom, courtesy, respect, humility, and love.