Best Ideas 2020 features all the nominated entries submitted under ‘Submit your Idea’ category. All the entries consist of innovative solutions or propositions for an enterprise that champions the Sustainable Development Goals. They can be on the conceptual, planning, or start-up stage.
Explain your idea in details:
LydiaRose's Initiatory (LRI) is a company with two motives. LRI's first motive is to use the oil palm as an electricity generating source for the public besides the production of palm oil and palm kernel oil that will be sold domestically and exported internationally. This will be done in a palm oil mill that will be set up according to international standards of palm oil mills already existent in Malaysia and Indonesia from which the idea was birthed. Since the palm oil mills would be for large scale production, the mill would have a lot of first-grade steam turbines and turbo generators that would be installed in power houses with grids attached or connected to them for public use. LRI's second motive is to produce Ethanol from corn, sugarcane, agricultural and municipal residue which will be used as alternative fuel for automobiles. For this second motive to be achieved, a multipurpose mill for the processing of corn, sugarcane, agricultural and municipal residue will be designed to address all four products that will be turned into Ethanol for public vehicle consumption. The other part of LRI's second motive is to produce Biodiesel from vegetable oils (corn oil, palm kernel oil) that will be used as an alternative diesel for engines of a generative nature. With electricity from power houses that will run on POME (palm oil mill effluent) used as fuel for steam turbines to generate electricity, there will be steady supply of electrical current from the palm oil mill because it will be self sufficient. Also, the use of ethanol as E100 (ethanol only) or flex fuel E85 ( 85% ethanol, 15% gasoline) will initiate a change in engines to be designed specifically for ethanol and ethanol blends; meaning the emission of carbon monoxide will be reduced creating healthier environments.
Expected impact of your idea on sustainable development
Citizens of Nigeria will be given greener life and diversity of fuel and electricity which will open doors for states' progress, unity, job employments in rural and urban areas. This will be done achieving business goals of: 1) Production of Ethanol 2) Production of Biodiesel 3) Production of electricity from oil palm 4) Production of palm oil, palm kernel oil, corn oil 5) Provision of job opportunities 6) Alleviation of Poverty and Hunger in Eastern States and partner States. 7) Promotion of agriculture and domestic development 8) Helping the less privileged I will give citizens an option for a greener life and diversity of fuel and electricity which will open doors for states' progress, unity, job employments in rural and urban areas. LydiaRose's Initiatory will provide quality biofuel, biodiesel and electricity supply creating a valued brand in the market increasing customer satisfaction and profitability. Production process is set in IMO State, Nigeria in Ihitte/Uboma and Ihime -Mbano local governments precisely due to access to massive acres of land. Progress will be based on continuous work time given in business put in by farmers, engineers, managers, biologists who will make up a research and development team, an operations and production team, a sales and marketing team, an accounting and finance team, and a management of information systems team. In a period of 3 - 5 months, land acquired for planting, cultivation of crops will be gotten, purchase of machinery will be worked on in 4 months. Processing and sale of Ethanol, Crop oils, Biodiesel will be attained after due test phases would have taken course in 9 months. Potentials for LydiaRose's Initiatory growth in the market : 1) Consistency in electrical supply without outage 2) Affordable price rates of bills for electricity supply (lower than competitors' price rates) 3) Provision of cleaner and healthier environs through municipal & agricultural residue use for
Plans for implementation and sustainability
My products will be unique to Nigeria because electricity for the public from a palm oil mill will be new and decentralized, meaning, these power houses will in due course of events be constructed in Eastern States, closely related eastern states and western states for effective distribution. This means that the electrical output will be 100%, ensuring quality certainty and winning trust and reliance from customers. Green (ethanol and ethanol blends) fuel stations will be placed in landmarked sites in every local government area in every eastern state in Nigeria and partner states. This means that customers will know that we are within their reach. These green fuel stations will equally also sell biodiesel. For the International customers, steady trade through online platform of high quality palm oil, palm kernel oil, corn oil will make them loyal patronizers. Partnership Strategy : Potential partners will be organizations, industries who support or are in line with energy production and ethanol & biodiesel production. They will come from all across the globe. With partnerships, a lot more is to be learned and achieved through negotiations. Financing Plan : My startup will be financed through loans and pitched investments from credible future partners and investors who believe in my company's motives/adoption activities. Fixed and Variable costs based on sites of company, machinery and other relevant equipment to be used, payment of salaries of employees, buying of oil palm, corn, sugarcane, agricultural residue will be effectively maintained and managed with the help of an efficient, experienced accounting and finance team. With quarterly and yearly budgets, and normalized cash flow or positive revenue yield, the company will not lose money and wind up. The profit margin (irrespective of environmental and economic excesses), that is the selling price of my products minus cost of production will also be strictly maintained.
Age: 23 Background: I am from IMO State, Nigeria, but i was born in Lagos State, Nigeria Motivation: My inability to live a life of mediocrity without challenge served as a push to birth initiative, write it down, seek opportunities to make it my reality. Qualities contributing to my success: 1) My focus in achieving personal development goals I set for myself 2) Never backing down or giving up if a desired opportunity fails 3) Relentless aspiration and search of beneficial opportunities and connections