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• ANALYSIS OF THE BENEFITS AND CHALLENGES OF CIRCULAR ECONOMY MODEL ADOPTION FOR BUSINESSES SUSTAINABILITY IN NIGERIA

  Vol. 9 No. No. 1 (2025)

  The end use of final product is often regarded as a waste but in today’s
  economy, it is the use of unfettered input resources and maximum output in
  countenance to throwaway output in which resources are tied and remain tied
  as much as possible as part of the economy and this is dependent upon how the input and output are marketed in the process. Thisisfurther translated astheuse
  of waste product in furtherance of wealth creation. Boulding (1996) muted the
  idea of open economy which today is known as circular economy where
  resource input can be fed back into production cycle whether biological or
  technical. Hence, it is a retentive term associated with unlimited input
  resources. The model is not only back-to-back, it is versatile which also hinges
  on value of productsincluding productsafety, human and environmental health
  safety in an orthodox economy, raw materials are transformed into products
  after which the waste are disposed of. But in the bio gradable waste materials,
  the waste is reused, for further generation of wealth from waste. Inversely they
  are used as chemical substances to generate natural systems and produce
  renewable energy. It is a back-to-back and a back-ward integration system.