Experts urge businesses to adopt circular supply chains to drive sustainable growth
Experts have urged businesses to adopt circular supply chains to create economic value, reduce waste, and promote sustainability.
Speaking at the Science, Energy, and Technology (SET) committee of the Lagos Chamber of Commerce and Industry (LCCI) 3rd Circular Economy Conference, themed, Creating Value Through Circular Supply Chains’, the experts stated that rethinking how materials are produced, used, and recycled could unlock new opportunities for job creation and industrial competitiveness.
“By embedding circularity into our supply chains, we can reduce material waste and energy costs, stimulate new business models such as repair, remanufacturing, and recycling, strengthen local production ecosystems, and create green jobs in logistics, waste recovery, and product innovation,” Gabriel Idahosa, president of LCCI said.
According to Idahosa, the concept of the circular economy represents a significant shift from the traditional take–make–dispose model, to a system where resources are used more efficiently, waste is minimised, and value is created at every stage of the product life cycle.
He noted that circular supply chains determine how materials flow, how waste is generated, and how value is shared.
“The private sector must take the lead in this transformation. Manufacturers must redesign their products for durability and recyclability; distributors must rethink packaging and logistics; and investors must recognise the value of sustainability as a business strategy, not just a cost,” Idahosa said.
He, however, said that to make this work, there must be fiscal incentives for green production, import policies that discourage wasteful practices, and clear standards for waste segregation and recycling.
He added that advances in digital technology, renewable energy, and materials science offer practical tools for circularity.
“From AI-driven waste tracking to blockchain-enabled supply chain transparency, innovation can help businesses close the loop efficiently.
“The Chamber recognises this and continues to champion innovation-led industrialisation, ensuring that Nigerian companies not only adopt circular practices but also develop indigenous technologies and solutions,” Idahosa said.
Mark Walsh, executive director, ENL Consortium Limited, speaking during the panel session, called for sustainable port operations stating that while terminal operators aim to maximise profit, they must begin aligning operations with sustainability goals to protect the environment and reduce long-term costs.
Walsh urged the government to provide clear sustainability standards for port operators, stating that renewable energy should be adopted within port terminals as part of this circular transformation.
“Why don’t we look at the ports being completely solar powered so that we don’t have to use diesel? I run diesel, it’s a huge cost, but it’s also a huge impact on the environment,” he said.
Walsh stressed the need for localised recycling within port areas to cut transport costs and reduce carbon emissions.
“There’s no reason all the port’s waste should be taken out somewhere way outside Lagos. It should be done inside the port so that there’s really no movement of carbon, a lot less expense for everybody,” he said, adding that this model, if supported by regulation, could generate carbon credits and new economic value.
Ini Abimbola, founder, ThistlePraxis Consulting Limited (TPC), urged Nigerian businesses to view sustainability not as charity but as a profitable business strategy, stating that sustainable supply chains can reduce risk, improve efficiency, and add long-term value.
“Sustainability is not charity, it’s a business strategy. You must think of the language of business and be able to say it in such a way that boards and executives understand,” Abimbola said.
She also called on manufacturers, telecoms firms, and other sectors to integrate recycling and waste reduction into their operations.
