ANALYSIS OF THE BENEFITS AND CHALLENGES OF CIRCULARECONOMY MODEL ADOPTION FOR BUSINESSESSUSTAINABILITY IN NIGERIA

Abstract

Circular Economy model is the adoption of marketing process which
eliminates any form of waste in order to optimize resource performance. It is
systemic, an effort to minimize resource waste and maximize performance. The
objective is to have a perspective shift in assuring a fossil fuel alternative
energy and to redefine growth for wide benefits of the society. The study
highlights the benefits and limitations of circular economy model in emerging
Nigerian economy and the way forward to ameliorate the model. It is found to
have become a source of competitive advantage for firm, data analytic and
artificial intelligence in both developed and developing countries. Hence, the
paper recommends a robust marketing management cum coordinating frame
work conducted with local firms of Small and Medium Enterprises along with
the coordination of private-public -partnership without losing sight of
leveraging on technology platform as enablers that drive the digital economy.