..wins  1st APP students venture prize with N1.5m

 By Ike Uchechukwu

Mr Emmanuel Uchechukwu an undergraduate of the Federal University of Technology (FUTO) Owerri who won the first African plus Partner students venture prize of N1.5m has revealed that his invention will reduce PMS price to 65 naira.

Uchechukwu a 300 level undergraduate of Mechanical Engineering who created a mini plant the produces petroleum products including PMS, AGO, DPK from waste plastic material told Vanguard that if the plant prototype was modified the cost of fuel could be as low as 65naira.

His words: “What we created, myself and my team are unique, we can refine pure sachets into AGO then other waste plastic materials into PMS and other petroleum products.

“If we get the needed funding for expansion, our plant can produce fuel that can serve IMO state for a start and then can be upscaled to other states and the entire country.

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“This will also reduce the cost of fuel to as low as 65 naira because the material are almost gotten for nothing, the cost of production is really low. Also, the sulphur in our product is not as high as the regular petroleum products. Our burns slower, which means its more effective and lasts longer,” he said.

Uchechukwu came tops out of a total of 13 undergraduates’ students who participated with their business plans.

The second prize of N1m went to Princewill Oke a four hundred level students of Obafemi Awolowo University while the third prize of N500,000 was carted away by Abosede Peter of the Federal University of Technology Akure.

Speaking after the event at  Windsworth hotels in Calabar, the managing director of Africa Plus Partners Nigeria Ltd Adeniran Ajakaiye said the students’ venture prize is designed to empower the most advanced entrepreneur ventures by Nigerian undergraduate students.

Adeniran who is also the chief investment officer’s (CIO) Africa Plus Ltd further said the venture prize seeks to support individual students who have identified a significant opportunity and whose venture have the potential to create impact and scale

The prize is agnostic with respect to what sectors or industries ventures are working in, or even whether they are commercial, social, or have blended approaches,” he said.

On his part, chief consultant and managing director of Edugist Elvis Boniface said at the close of application deadline, three hundred applications were received and 13 were shortlisted and a one week Bootcamp for intense training on different aspect of practical business education

He further disclosed that the Bootcamp climax in a Lion’s Den/Grand Finale where the finalist was selected.

APP  he said will also provide an opportunity for the Prize winners to have access to a deep and knowledgeable roster of mentors, industry contacts, and experienced entrepreneurs to give them support and assistance.

Vanguard News Nigeria

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