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How we can make money off our waste product

by Jessica Ofuoma

The circular economy is a powerful concept that can make a big difference in Nigeria, a country facing significant waste management challenges. This article aims to explain the circular economy in simple terms and how it can contribute to reducing waste and promoting sustainability in Nigerian businesses, using language that’s easy to understand, even for those who haven’t completed high school.
Imagine a world where nothing is wasted, where the things we use don’t end up in overflowing landfills or polluting our rivers and landscapes. That’s the idea behind the circular economy. Instead of throwing things away after we’re done with them, we find ways to reuse, repair, and recycle. It’s like giving products a second, third, or even fourth life. In Nigeria, where waste is a growing problem, adopting circular practices can help us tackle this challenge head-on.

The Nigerian Waste Challenge:

Nigeria, like many other countries, faces a waste problem. Trash piles up in cities and towns, causing pollution and health issues. The linear economy, which is our current way of doing things, is part of the problem. In a linear economy, products are made, used, and then thrown away. This “take, make, dispose” approach creates mountains of waste. The circular economy offers a solution by encouraging us to “take, make, remake, and reuse.”

Benefits for Businesses:

Businesses in Nigeria can reap numerous benefits from embracing the circular economy. For instance, by reusing materials and repairing products, they can save money on sourcing new materials and manufacturing. This cost-efficiency can be a game-changer for businesses of all sizes, from small local enterprises to large corporations.

Creating Jobs and Stimulating Innovation:

One of the exciting aspects of the circular economy is its potential to create jobs. When businesses focus on repairing, recycling, and repurposing, they need skilled workers to perform these tasks. This can help reduce unemployment and stimulate economic growth in Nigeria. Furthermore, it encourages innovation as companies seek inventive ways to extend the life of products and reduce waste.

Challenges and Solutions:

Of course, transitioning to a circular economy isn’t without its challenges. It requires changes in how we design, produce, and consume products. Public awareness and education about the benefits of circular practices are essential. Additionally, policies and regulations that support circular initiatives are needed. Collaborations between government, businesses, and communities can help overcome these challenges.

In Nigeria, there are already examples of businesses and entrepreneurs embracing the circular economy. Some companies are turning discarded tires into fashionable accessories, and others are collecting and recycling plastic bottles to create new products. These success stories demonstrate that circular practices are feasible and can be profitable.
In conclusion, the circular economy offers a promising pathway for Nigeria to address its waste management issues, boost business sustainability, create jobs, and foster innovation. It requires a collective effort from all sectors of society, but the rewards are well worth it. By rethinking how we use and reuse resources, we can build a cleaner, greener, and more prosperous Nigeria for future generations. Let’s work together to make the circular economy a reality in our country.

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