Federal Govt Launches $10m Fund to Boost Circular Economy Readiness

The federal government has unveiled a $10 million investment fund to support ecosystem players in addressing key preparatory gaps for Nigeria’s transition to a circular economy.
The minister of Environment, Alhaji Balarabe Abbas Lawal, has identified the need to close the preparatory gaps for circular economy with $10 million investment seed fund from ecosystem players while calling on MDAs, organise private sector, development partners, financial institutions and different consulate in the country to address market access to circular economy funds.
This is even as the minister supported the move by ecosystem builders and market innovators to invest $10 million dollar investment seed fund for 7 years to build the pipeline of circular economy in the country.
The minister revealed that the circular economy framework was initially launched in 2024 with the intent to address plastic waste pollution with circular solutions to mitigate the risk of environmental degradation and carbon emissions.
The event attracted ecosystem builders, policy analyst, sectoral leaders, market innovators and private sector led operators where they reinforced the need to build funding pipeline for circular economy in the country to strengthen investment climate.
Abbas stated that the federal government had adopted circular economy solutions as a move to tackle pollution, cut plastic waste and drive green jobs, with strong backing from President Bola Ahmed Tinubu.
Speaking at the Nigerian circular economy week and the Unveiling of the Circular economy Investment fund in Lagos, the minister said the circular economy policy is supported by international partners noting that he had presented a memo on the initiative to the Federal Executive Council, stressing that environmental sustainability is central to national development.
“The President is very passionate about the environment, particularly the circular economy,” the minister said. “He supported me strongly when I took this proposal forward. For us in government, the circular economy is the basis for addressing pollution and plastic waste while enabling sustainable growth.”
He noted that Nigeria launched a national circular economy framework in 2024 with support from the European Union, adding that implementation is being pursued in collaboration with state governments and the private sector.
“This is not a government issue alone,” he said. “The private sector must lead investment in circular solutions. It is an opportunity to invest in our youth, in emerging enterprises and in industries that can turn environmental challenges into economic value.”
He also acknowledged the support of development partners, including, GIZ, Deutch Consulate, Switzerland and Netherlands, for backing the policy rollout.
A fellow and representative of the EU delegation at the event said the partnership reflects a shared commitment to sustainable production and responsible consumption. “Nigeria’s circular economy framework positions the country to reduce waste while creating jobs and investment opportunities,” the official said.
Environmental policy analysts say Nigeria’s growing population and rising waste generation make circular solutions urgent. Abuja-based sustainability expert Amina Yusuf, who attended the launch, said implementation will be key. “The framework is promising, but success will depend on consistent policy enforcement and private-sector participation,” she said.
Lawal assured stakeholders that outcomes from the policy launch would be presented directly to the President, reiterating federal commitment to collaboration across government tiers and industry.
“The President is personally committed,” he said. “Whatever emerges from today, we will work together to ensure its success.
Also speaking at the event, special adviser to Lagos State governor on Circular Economy, Titi Oshodi said circular transformation requires strong financial alignment noting that the circular economy is a system in motion for enterprise and finance as momentums are being made in Lagos, Abia, Ogun, Kano, Anambra, as other enterprise development areas are strongly committed to climate actions.
She alluded that the structured conversation from policy to finance to innovations and trade will send real signals to where the future is heading for circular economy.
She urged various states at the Subnational basis to become intentional and logical about data by creating innovative systems and platforms to aggregate data in terms of the ESG, while stating that circular economy platforms must work with those who verify data even as she affirms that the circular economy investment funds will unlock trade and long-term resilience of the economy driving industrial players and
Speaking further at the unveiling of the circular economy investment fund, Titi- Oshodi, said the fund is expected to unlock market resilience, trade and achieve the key drivers of impact across MDAs and private sector led initiative.
German Consul General in Lagos, Daniel Krull, said containing the climate change will be delayed as the bill is expected to have a second reading while reiterating that the circular economy investment fund will be needed to drive the economy.