Best Ideas 2021 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.

Plastic Recycling Turning waste to wealth

Published on June 1, 2021 um 09:12

Explain your idea in details:

There is a process between the manual gathering of plastic materials and the manufacturing of finished plastics products where Hemi Gates has identified has the starting gap of becoming a player in the industry. Over 2,000 tons of plastic waste is generated in Lagos alone on a daily basis, and which can be recycled. Annually, this over 600,000 tons. At N100,000 (USD 220) per ton, if only 600,000 tons of plastic can be recycled annually, it will potentially be a USD 120 million industry. This figure will increase significantly when other parts of Nigeria are factored in. However far less that 10 percent of plastic waste is actually being recycled in Nigeria; the bulk of which ends up constituting nuisance for the environment when it could have been recycled to make money. The process of crushing the plastics that are manually gathered and supply the crushed products to plastic manufacturers as plastic raw material is an essential necessary and is key in plastic production. This proposed project is to lock into this identified gap. Hemi Gates Limited will therefore Collect waste plastics from the public via collecting points, Treat & crush the waste plastics Utilize the treated crushed recycled wastes in production Bag and Sell off the crushed recycled plastic granules to plastic production plants (also export)

Expected impact of your idea on sustainable development

We have identified the following potentials in plastic recycling Plastic recycling would reduce pollution and environmental chaos plastic waste is creating in communities we would be operating Recycling involves the functional reuse of a resource as a substitute for using new raw materials from the environment, more people than ever before are minimizing their trash output and helping out the environment by recycling eligible materials such as plastic, paper and aluminum. Recycling materials can help protect the earths water by keeping consumer pollution out of overflowing landfills that leach toxins into local aquatic resources. Plastic recycling would be an enpowering initiative for individuals of these communities especially women and youths Plastic recycling would be a profit making and a community development venture A venture into plastic recycling industry has now been reviewed by Economic Projectors has a creator of wealth and empowerment, plastic products enjoy nationwide demand and patronage. In fact, it is one the fastest selling consumer goods in the country today. The product is demanded all year round and is not affected by season. The demand for recycled plastic materials is very high and it has been on an increase, from our research. The demand for raw materials for production of plastics has a correlation with the total demand for plastics, the higher the quantity of plastics demanded, the higher the quantity of raw materials (including recycled raw materials) required to sustain production. Our vision is to be the most reliable plastic crushing company within the next 3 years and extend to up grading to a full Plastic Recycling Company by 2024

Plans for implementation and sustainability

Business Plan Stage 1 Data collation on Plastic recycling process in Nigeria Done Discussion with key vendors to supply and off takers of finished products On going Leasing a property for the plant Done ,self financed Construct a processing plant at site location in Odogbolu On going 95 percent complete , self financed Start the collection of Plastic materials to site location, To Purchase Purchase of plastic crushing machine and installation, need funding Purchase of plastic washer and drying machine and installation, need funding Purchase of 60 KVA Generator and installation, need funding Purchase of Truck, need funding Business Plan Stage 2 Start production 1 week after all equipment are in place and installed, and all training concluded Ensure we are making proper daily capacity of 3000 Kg daily Advisory Team Dr. Femi Idowu-Adegoke has got over 18years experience working both in United Kingdom and Nigeria with diverse knowledge of Consultancy and Operations in the waste and environmental sustainability industry. He is the Executive Director at Ecoviridis Environmental Technology Limited, a waste to resource company converting recyclable municipal Solid A corporate member of Chartered institute of waste management UK. (MCIWM), Member Energy Institute (EI), Member Recycling Association of Nigeria. The function of the advisory team include but not limited to the following Registration of Company with market associations and recycling law authorities / regulators Site location advisory Machinery advisory Machinery acquisition advisory Collection and Off takers connection Staff Training

Your profile

Olufemi Babajide Oyefodunrin is an Experienced Banker with a demonstrated history of working in the banking industry for 18 years. Skilled in Banking Operations Processes, Customer Relationship Management (CRM), Credit Risk and Management. He is a strong sales professional with a high orientation of operational excellent model. Femi was a Regional Operations Manager with Stanbic IBTC Bank, where his leadership drove the effective usage of alternative channels, customer service, banking operations and compliance of the team in the regions he managed. He led Lagos zone on Collections and Point of Sales drive where the bank grew the e-channel business during his leadership. He developed sale plans for micro businesses to achieve sale budget/targets and profit for branches he managed. Femi coached on various product knowledge which included Effective Customer Service, Operational Excellence Model, Compliance, AML and making the most of Cross-selling Opportunities as a member of Stanbic IBTC Bank Human Capital coaching and training partner. Femi is a graduate of Business Admin from Olabisi Onabanjo University, Ago Iwoye, Ogun State, He has Masters in Business Admin from Lead City University, Ibadan, a Fellow of the Institute of Credit Administration of Nigeria and ISO 9001:2015 certified. He also has certification in Risk Management for Projects, University of Adelaide Adelaide, Strategic Thinking programme, Lagos Business School Lagos, Diploma Certification in HR, Customer Relationship Management - H Pierson, Global Leadership Course (Branch Managers Development Programme) - S/Africa Managing Banking Operations - FITC and Senior Financial Analysis Programme - Lagos Business School

Stage of Idea

conceptual stage, planning stage, start-up stage

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