30 Higher Institutions Apply For CBN Entrepreneurship Scheme
About 30 higher institutions from the six geo-political zones have been shortlisted to compete in the second stage of the Central Bank of Nigeria (CBN’s) Tertiary Institutions Entrepreneurship Scheme (TIES).
The 30 were shortlisted from 145 applications received by the Body of Experts constituted by the CBN for TIES, which aims to boost economic growth and reduce unemployment among graduates of Nigerian polytechnics and universities.
The Scheme is designed to create a paradigm shift among undergraduates and graduates from the pursuit of white-collar jobs to a culture of entrepreneurship geared toward job creation, economic growth and sustainable development.
According to Sustainable Economy, the representatives of the institutions unveiled their entrepreneurial ideas that were vetted and selected according to set criteria at the CBN headquarters in Abuja.
Caroline Alenoghena of the Federal University of Technology, Minna, Niger State, who is one of the competitors, in company with her student, Esther Afolabi, is seeking a grant to expand their Shea business hub.
Shea nuts grow abundantly in the northern part of Nigeria but their potential is not fully harnessed due to the lack of a strategic template to explore it.
She revealed that her team also pitched for the deepening of e-commerce in creating awareness and benefits of commercial dealerships in Shea products.
Her team targets 2,500 direct jobs along the Shea value chain for which N182 million would be required to achieve its aims and objectives which are very scalable.
She said: ‘We have researchers working on expanding Shea products. We are adapting and turning research findings into businesses. International certifications are needed and we intend to acquire those.
“We have a grant from the World Bank and we will set up labs to have US certification and others. There are enormous potential Shea products, not only Shea butter.”
In her remarks, Esther Afolabi, a Soil Science and Land Management student of FUT Minna, described the Shea value chain as a lucrative venture, especially as the materials for processing can be fabricated locally.
We have a grant from the World Bank and we will set up labs to have US certification and others. There are enormous potential Shea products, not only Shea butter.
Another competitor, Korter Grace and her student, Taiwo Akintola Endurance, both from the Federal Polytechnic Offa, Kwara State, pitched the brick charcoal cooling chamber meant to reduce post-harvest losses of farmers who grow fruits and vegetables.
The product, already in use in Kenya, Mali, India and other climes, empty into the ideals of Sustainable Development Goals 2&12.
She said the desire to create the charcoal cooling chamber was born out of the need to cut back on over 50% of losses that leave grocery farmers impoverished.
She said: “For a start, we are looking at preserving veggies and fruits. Ordinarily, refrigeration is the known means of preserving fruits and veggies, but we know how epileptic electricity is in Nigeria.
“Worse still, farmers, especially those in the rural areas who are off-grid, don’t have access to electricity. This results in their products not getting the right value and not getting to the desired destination. But with this local technology, in an on-site project, we will use brick and charcoal to achieve 7° Fahrenheit of cooling, which is good to preserve this delicate produce.
“So, you put your fruits and vegetables inside a container and then into the chamber. It won’t use electricity. No need to fear weather variation. The hotter the weather, the cooler the chamber”, she explained.