Covenant, Alkem Sign MoU on Waste to Wealth Initiative
Covenant University and Alkem Nigeria Limited, a recycled Polyester Staple Fibre manufacturer, have sealed an agreement on a mutually beneficial Waste to Wealth initiative.
Explaining the development at the signing of a Memorandum of Understanding (MoU) between the two organisations on Thursday, May 11, 2017, the Chairman, Waste to Wealth Committee, Covenant University, Professor Kolawole Ajanaku, said that since the establishment of a relationship with Alkem in late 2016, the company had helped to improve the process of the University’s Waste to Wealth venture.
He stated that prior to the meeting with Alkem, there was stress in the University’s Waste to Wealth operations but the intervention of Alkem, through the donation of an equipment, had made the venture more productive and increased revenue.
Covenant University looks forward to having Alkem on board and believes strongly that the relationship will take both organisations higher, the professor of Industrial Chemistry added.
The Chief Operating Officer, Alkem Nigeria Limited, Mr. A. Ramalingam, who came for the MoU signing ceremony along with the company’s General Manager, Mr. A.V Suthar, said that Alkem was happy to be associated with Covenant University.
He revealed that Alkem, established in the 1980s as a backward integration to the nation’s textile weaving and spinning industry, was dependent on import until the early 2000 when it decided to look inwards. “Now, 100 percent of our raw materials is locally sourced and recycled and by doing this, we have created wealth for more than 15,000 hitherto unemployed through Waste to Wealth,” he said.
Mr. Ramalingam said that Alkem was happy that Covenant University will take the initiative outside the University and promote micro economy among social groups around the University community.
Following the signing of the MoU, the Vice-Chancellor, Covenant University, Professor AAA. Atayero, expressed appreciation to Alkem Nigeria Limited for the kind gesture of donating an equipment to the University, which he described as evidence of a relationship that will go a long way.
While urging Alkem to make Covenant University the institution of first consideration should the company decide to set up a Plant, the Vice-Chancellor said that it was imperative to move the relationship forward taking into consideration the University’s core areas of Research, Teaching and Community Development.
Also at the event were the Acting Registrar, Mrs. Mary Aboyade; Director, Financial Services, Pastor Bayo Oladehinbo; Director, Vice-Chancellor’s Office, Dr. David Omole; Deputy Chairman, Waste to Wealth Committee, Dr. David Olukanni; Deputy Director, Research and Development, Covenant University Centre for Research, Innovation and Discovery (CUCRID), Dr. Obinna Mwinyi; Head, Operations, CUCRID, Mr. Vincent Olumuyiwa; and a Legal Officer of the University, Barrister Ayodele Osayande.