Circular Economy from Waste to Wealth: Sustainable Human Development Evidence in Nigeria

Abstract

The problem of waste disposal constitutes serious environmental challenges facing many cities and there is still a phenomenal increase in the volume of wastes generated daily across the globe. This study on circular economy from waste to wealth employs a mixed-methods approach to comprehensively analyze waste-to-wealth initiatives in Nigeria, focusing on various wastes management feats to generate wealth and solve environmental problems. Utilizing secondary data, the methodology aims to provide good understanding of the economic, social, and environmental dimensions of these initiatives. Qualitative data from literature reviews and document analyses identify key themes, while quantitative data on waste generation, recycling rates, and economic outcomes underwent descriptive statistical analysis for key indicators. The results highlight Nigeria's significant plastic waste generation, with only 6% being recycled. The study reveals untapped potential in the recycling industry and showcases successful models, such as Wecyclers and Recycle Points. The findings suggest that with policy interventions and economic incentives, Nigeria could achieve a 70% recycling rate, offering substantial investment scalability and greenhouse gas savings. Additionally, the study emphasizes the positive correlation between the growth of private sector participants in waste management and increased job opportunities, indicating a potential positive impact on the economy and employment landscape.