2024 Circular Exchange: CBP, LBSSC, Others Promote Innovation and Entrepreneurship Opportunities for the Circular Business Ecosystem
L-R: Daniel Oderinde,Country Manager, Nigeria National Plastics Action Partnership (NPAP); Osanua Nwagbara, Associate, LBS Sustainability Centre; Dr Natalie Biensch, Executive Secretary, Circular Business Platform; Chineme Egbo, Research Assistant, LBS Sustainability Centre; David Olugbohun, Communications Assistant, LBS Sustainability Centre; and Jonathan Ikeolumba, Affiliate Researcher, LBS Sustainability Centre
The 2024 Circular Exchange Lagos Event themed ‘Reflect, Learn, and Build,’ which was held on February 1, 2023, convened stakeholders, academia, policymakers, SMEs and organisations to advance the circular economy ecosystem in Lagos and Nigeria at large. The convening also served as a platform to celebrate sterling achievements of players in the circular ecosystem, evaluate milestones, and set new goals towards a more circular Lagos. It also afforded attendees and stakeholders an opportunity to network with industry leaders, take learnings from circular champions, and collectively address challenges within the circular economy value chain.
With a focus on fostering opportunities for circular business and investment, promoting sustainable practices, and driving policy changes toward a circular economy in Nigeria, the event sought to brainstorm and strategise on accelerating sustainability goals for socio-economic impact in the sub region. Attendees had the chance to delve into focus points such as: Identifying challenges and opportunities specific to developing the market for circular businesses in Nigeria, exploring tools and learning experiences developed by the Circular Business Platform and its partners, as well as showcasing local initiatives driving circular economy practices.
The Special Adviser to the Lagos State Governor, Climate Change & Circular Economy, Titi Oshodi, underscored the importance of circular procurement. She said, “Circular procurement is a cornerstone of sustainable practices that focuses on purchasing goods and services designed for durability, repairability, and recyclability. By adopting circular procurement principles, organisations can significantly reduce waste, conserve resources, minimise their environmental footprint, and build business opportunities for local entrepreneurs.” She added, “ this year’s event serves as a platform for reflection, learning and advancement following a year of collaborative efforts with diverse partners through the Circular Business Platform to cultivate the circular economy business landscape in Nigeria.”
During the Ecosystem Report session, Christopher Nwogwu, Founder, Greenpreneur, facilitated discussions aimed at encouraging ecosystem improvement, exploring solutions, and outlining the overarching vision for 2024 in driving ecosystem enhancement. David Oriyomi, President, Association of Waste Managers of Nigeria hinted that “Once waste is properly collected, the environment is better for it, and there is always a nexus between our wellbeing and our environment. Once your environment is clean and waste is effectively collected, then you have what is called a pre-healthcare service”.
The Circular Market Debrief Panel Session focused on leveraging circular procurement tools to support local innovation and entrepreneurship. L-R: Dr. Adebola Odunsi, Victoria N. Uwadoka, Boluwatito Aiyepola, Rita Idehai, Dr. Muyiwa Gbadegesin
The Circular Exchange 2023 Event exemplified its commitment to fostering collaboration, innovation, and sustainable practices within the circular economy landscape, furthering Nigeria’s journey toward a circular economy. Natalie Beinisch, Executive Secretary, Circular Business Platform, highlighted this year’s edition’s purpose. She said, “Our purpose this year is to foster an environment conducive to networking, learning and innovative solutions that not only address climate change challenges but also capitalise on the associated opportunities”. She further added, “this event aims to cultivate an environment where stakeholders can ideate, learn and innovate to elevate the circular sector, particularly in trade facilitation through the utilisation of circular procurement tools, fostering local innovation and entrepreneurship.”
The event featured a circular market debrief panel session focused on leveraging circular procurement tools to support local innovation and entrepreneurship. Notable speakers included Dr. Adebola Odunsi, CEO of Integritas Limited; Victoria N. Uwadoka, Corporate Communications, Public Affairs and Sustainability Manager for Nestlé Nigeria; Boluwatito Aiyepola, Circular Economy Specialist (BASF West Africa); Rita Idehai, President, Recyclers Association of Nigeria (RAN) and Founder/CEO, Ecobarter; and Dr. Muyiwa Gbadegesin, Managing Director, Lagos Waste Management Authority (LAWMA). Panellists shared insights to achieve 100% plastic neutrality and emphasised individual responsibility for effecting change.
Circular market place experience where exhibitors showcased various circular products and skills
The event also provided a circular marketplace experience where exhibitors showcased various circular products and skills. Among the exhibitors were Franuel eco-furniture, Uptote by Ike, Atunlo, Mitimeth, Fabrithread, Givo, Quadloop, Azachng, and Brickify. Three awards were presented at the Circular Marketplace Exhibition to three circular businesses who distinguished themselves at the event: Franuel Eco Furniture -Creativity in Marketing Award; Lady Bamboo –Top Sales Performance Award; and Azach Ng –Customer Centricity Award.
The event was organised by the Circular Business Platform (CBP), and supported by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, Sterling Bank, Innovate UK-KTN, Lagos Business School (LBS) Sustainability Centre, Enterprise Development Centre (EDC), amongst others, served as a nexus for networking, collaboration, and innovation, providing attendees with invaluable insights on leveraging the vast opportunities within the circular economy landscape.
Lady Bamboo(L)collecting the Top Sales Performance Award
Lagos Business School is Africa’s leading management education institution and the LBS Sustainability Centre is a leading knowledge centre that brings together the theory and practice on business and sustainability for the advancement of performance and development outcomes.
For more information about the initiatives and upcoming events by the Lagos Business School Sustainability Centre, please contact [email protected]. Together we can work towards a sustainable future for businesses on the continent. See our programmes at https://lbssustainabilitycentre.edu.ng/training
The Circular Business Platform is an independent organisation that is designed to promote the development of circular business and investment activity in Lagos. The Platform was developed in partnership with business, research and advocacy organisations, the Consul General of the Netherlands, the Dutch Enterprise Agency and Lagos State Government.
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