Nigeria's transition to a circular economy: challenges, opportunities and future perspectives

• Published in: Insights into Regional Development (Online). Vol. 6; no. 2; pp. 11 - 23
• Main Authors: Rezk, Mohamed Ramadan A., Piccinetti, Leonardo, Salem, Nahed, Omoruyi, Trevor Uyi, Santoro, Donatella
• Format: Journal Article
• Language: English
• Published: Entrepreneurship and Sustainability Center 30.06.2024
• ISSN: 2669-0195; 2669-0195
• DOI: 10.9770/IRD.2024.6.2(1)

The concept of a circular economy (CE) is a sustainable development strategy aimed at minimising waste and maximising resource efficiency. This paper explores the transition towards a circular economy in Nigeria, providing an overview of the challenges, opportunities, and future perspectives. Nigeria is rich in natural resources and has significant economic potential. However, the country faces severe environmental, economic, and social challenges that could be met with a circular economy. Although Nigeria has abundant natural resources and great economic potential, it faces many significant environmental, economic, and social challenges that must be addressed to move to a circular economy as a viable solution. The methods used in research are based on a mixed-methods research approach; the study synthesises findings from a comprehensive literature review, case studies of Nigerian businesses adopting CE practices, and insights from a SWOT analysis conducted in consultation with experts. The conclusions of the SWOT analysis, enriched by discussions with experts, form the basis for a set of targeted recommendations. These recommendations are aimed at policymakers, business leaders, and practitioners, outlining strategic actions to overcome the identified barriers and harness the opportunities inherent in a circular economy. This paper contributes to the scholarly discourse on sustainability and serves as a practical guide for other developing countries navigating the transition to a circular economy. It underscores the urgency and feasibility of adopting circular economy principles in Nigeria, highlighting the path towards a more sustainable, efficient, and economically robust future. In the study, prospects for Nigeria to benefit from include increased resource efficiency, job creation, economic diversification, and environmental sustainability if the circular economy approach were applied.