Technology and Innovation Management for Circular Economy in Nigeria’s Renewable Energy Sector

Abstract

This research explores the role of technology and innovation management in facilitating the adoption of Circular Economy (CE) principles within Nigeria’s renewable energy sector. As Nigeria strives to address its energy deficit through renewable energy technologies, the integration of CE practices remains limited, especially in terms of resource efficiency, waste reduction, and material recycling. Using a mixed-methods approach, including semi-structured interviews with key stakeholders and a survey of renewable energy firms, this study assesses the extent of technology adoption and Circular Economy integration. The results indicate that solar photovoltaics (PV) and biomass are the most widely adopted technologies, with 80% of firms using solar PV. However, advanced Circular Economy practices, such as waste-to-energy and material regeneration, have been adopted by only 40% of firms. The research identifies several key barriers to the adoption of Circular Economy practices, including technological limitations, high initial costs, lack of government support, and low awareness. The findings underscore the pivotal role of innovation management in overcoming these barriers, particularly through the adoption of advanced technologies like solar PV and energy storage systems. The study concludes by offering policy recommendations, including the need for financial incentives, investment in research and development, and fostering collaborative innovation. These measures are essential for accelerating the adoption of Circular Economy principles, ensuring the sustainability and growth of Nigeria’s renewable energy sector.