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Press Release: Circular Exchange 2024 Advocates Circular Procurement to Propel the Advancement of the Circular Economy

Lagos, February 1st. The 2024 Circular Exchange event, a collaborative initiative with Circular Lagos and the Circular Business Platform, recently concluded, leaving a lasting impression on stakeholders who fervently highlighted the myriad opportunities prevailing beyond the challenges of climate change. Organized by the Circular Economy Innovation Partnership (CEIP), the event served as a dynamic forum for attendees to converge, brainstorm, and delve into transformative opportunities within the circular economy.

Dr. Natalie Beinisch, Executive Director of CEIP, highlighted the event’s purpose, stating, “Our objective this year is to foster an environment conducive to networking, learning, and innovating solutions that not only address climate change challenges but also capitalize on the associated opportunities.” She further articulated, “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 utilization of circular procurement tools, fostering local innovation and entrepreneurship.”

Titi Oshodi, Special Adviser to the Lagos State Governor on Climate Change & Circular Economy, underscored the significance of circular procurement, emphasizing its pivotal role in sustainable practices. “Circular procurement,” she affirmed, “is foundational to sustainable practices, prioritizing the acquisition of goods and services designed for longevity, repairability, and recyclability. Embracing circular procurement principles enables organizations to markedly reduce waste, conserve resources, diminish their environmental impact, and nurture business prospects for local entrepreneurs.”

Moreover, Oshodi 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.”

Partnering in the event, the Netherlands Consulate echoed the imperative of addressing the existential challenges posed by climate change. Opeyemi Oriniowo, Policy Adviser | Economic Affairs and Public Diplomacy spokesman, stated, “We strongly advocate for renewable energy and, notably, recognize the transformative potential of the circular economy. Transitioning from linear to circular economic models fosters sustainable and inclusive growth.”

The event, supported by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, Sterling Bank, Innovate UK-KTN, Lagos Business School (LBS), 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. Themed “Reflect, Learn, and Advance Circular Procurement in Nigeria,” it convened stakeholders to reflect on the strides made in the circular economy and strategize on further advancements.

Watch Arise News Airing of The Event Here.