AYEEN

AYEBM2017-277878

Education

Bsc Quantity surveying Ahmadu Bello University Zaria, Kaduna State

Diploma In Innovation and Entrepreneurial Finance- Kaduna Business School(KBS)

Explain your Business Idea in 160 Words

Rice milling is the process that helps in removal of hulls and bran’s from paddy grains to produce
polished rice. Rice has been one of man's most important foods. Paddy in its raw form cannot be
consumed by human beings, it needs to be suitably processed to obtain rice, one of the major
challenges faced by local farmers in Nigeria, is lack of automated processing facilities which makes them
utilize manual systems of processing rice which produces poor quality local rice full of stones.

My rice processing business will offer processing service to rice farmers and I will purchase paddy from
local farmers, process it and resale at a higher price, the annual rice demand in Nigeria is estimated at
5.9 million MT, the output of my rice milling plant will be 1.5tons/hour and 12tons/day, the business is
very viable with 80% return on investment per annum.

Amount needed

N5,000,000

What fund is required for

Purchase of 1.5ton/hour combined mini rice milling machine: N3,000,000

Lister generator: N500,000

Leasing of building facility where Rice mill will be located for 3 years: N900,000

Working capital

Energy cost(Diesel/PHCN): N200,000

Labour cost: N150,000

Purchase of paddy: N200,000

Miscellaneous:N50,000

Your current Networth: N6,000,000

Short term goals

1) Mill 500tons of paddy per month

2) Turn in profit in the first 3 months of operation
3) Produce quality stoneless rice
4) Employ more staffs and create Jobs

Long term goals

1) Purchase 20tons/hour rice milling machines

2) Mill 10,000tons/month
3) Produce Rice of International Standard
4) Export Quality rice from Nigeria

Risks associated with the business

1. Milling machine breakdown

2. Increase in cost of energy(diesel/Phcn)
3. Unavailability of paddy to mill
4. Pilferage of the milled rice at the factory
5. Increased cost of paddy

Why do you deserve support from Ayeen

I deserve support from Ayeen because am a youth with the right blend of business knowledge, skills and
the entrepreneurial spirit to succeed in my business, the funding Ayeen will provide for my business will
be used optimally, my business idea is viable, will create employment for other youths, this business will
contribute to making Nigeria self-sufficient in Rice production and this business is in line with the
sustainable development goal (End hunger, achieve food security and improved nutrition and promote
sustainable agriculture)

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