Challenges and Prospects of Circular Economy: Implications for National Security in Nigeria

Abstract

Economic security is the condition of having stable income or other resources to support a standard of living now and in the foreseeable future. Today, economic security forms, arguably, as important a part of national security.   For a long time, Nigeria’s economy has been linear, this means that raw materials are used to make a product, and after its use, any waste is thrown away.  In an economy based on recycling, materials are reused. To ensure that in the future, there are enough raw materials for food, shelter, heating and other necessities, our economy must become circular, which means preventing waste by making products and materials more efficiently and reusing them. The paper examines the concepts of circular economy, national security, economic security - its causes and consequences. It also discusses the challenges and prospects. The paper recommends among others that Nigeria’s economy be reformed in such a way that it will enable the citizens to be self-reliant; lasting employment mode should be provided by both private individuals and the three tiers of government as well as the foreign investors.