The table water project of the Kwara State College of Education, Ilorin is expected to generate a target of N1.2 million monthly, when completed.
The Deputy Director Academic Planning, Kwara State College of Education, Ilorin, Dr. Hadi Atanda stated this during a chat with Pilot Business in his office, on Friday.
According to him, the enterprise based project has nearly reached 95 per cent completion.
He said the motive behind KWACOED table water is to increase the Internally Generated Revenue (IGR) of the college as demanded by the state government.
“The college of recent faced lots of financial problems. So, the state government in its wisdom has asked us to look inward for ways to generate revenue instead of waiting to be spoon-fed by government “We have market for the table water business already. Lets assume 4,000 students buy one sachet of water per day, and about 400 bags are sold at N100 per bag. That will give us N40, 000 daily. If we multiply this in a month, it will give us N1.2 million, “he said.
Hadi noted that everything for the take off of the enterprise is set, adding that what is left is National Agency for Food and Drug Administration Control (NAFDAC) assessment and approval.
“We have the building, the production machine, we have appointed production manager, nylon is on ground, the tank and water systems are all available. So, business wise we are set.
He said NAFDAC will be paying a visit to the college for the first phase of its inspection, after which permission to hit the market would be granted.
He further said that the proposed business has gulped about N10 million, adding that the college financed the project in collaboration with AD-Doman Multipurpose Cooperative Society.
“Upon completion, KWACOED table water will be the fourth of its business kind among institutions in Kwara State.