INTERNATIONAL JOURNAL OF LATEST TECHNOLOGY IN ENGINEERING,
MANAGEMENT & APPLIED SCIENCE (IJLTEMAS)
ISSN 2278-2540 | DOI: 10.51583/IJLTEMAS | Volume XIII, Issue VII, July 2024
www.ijltemas.in Page 93
Embracing Technical Skills Circular Economy: Strategy for
Entrepreneurship Development and Job Creation
AYO-BALOGUN, Atinuke Oluwatoyin., OGUNSANWO, Abayomi O.
Department of Business Administration & Management, The Federal Polytechnic, Ilaro, Ogun State, Nigeria
DOI: https://doi.org/10.51583/IJLTEMAS.2024.130711
Received: 19 July 2024; Accepted: 29 July 2024; Published: 07 August 2024
Abstract: This study explores the impact of technical skills within the circular economy framework on job creation and
entrepreneurship development in Nigeria. Conducted in Lagos State, the research employed a mixed-methods approach,
combining quantitative data from 384 survey participants with qualitative insights from 16 in-depth interviews and focus group
discussions. The factor analysis revealed that three components explain 75.221% of the variance, demonstrating strong construct
validity. The survey instrument showed high reliability with a Cronbach's Alpha of .730. In the quantitative analysis, Model 1
demonstrates that Circular Economy (CE) significantly impacts Job Creation (JC), with an R Square value of .656 and a
coefficient B of .768 (p < .000), indicating that CE accounts for 65.6% of the variance in JC. Model 2 shows that CE significantly
influences Entrepreneurship Development (ED) with an R Square value of .670 and a coefficient B of .783 (p < .000), explaining
67% of the variance in ED. Hypothesis testing confirms significant relationships between technical skills in the circular economy
and both job creation and entrepreneurship development, with F values of 757.634 and 809.194 (p < .000), respectively. The
qualitative data provided further insights, highlighting the importance of integrating technical skills in circular practices to foster
sustainable economic growth and entrepreneurial activities. The study concludes that technical skills in the circular economy are
crucial for job creation and entrepreneurship development in Nigeria. It recommends incorporating circular economy principles
into vocational training programs and encouraging government-private sector partnerships to promote circular economy
initiatives. By enhancing technical competencies, Nigeria can achieve significant improvements in job stability and
entrepreneurial growth.
Keywords: Skill, Circular, Economy, Job Creation, Entrepreneurship, Development
I. Introduction
The adoption of technical skills within the framework of a circular economy presents a significant opportunity for
entrepreneurship development and job creation. The circular economy, which emphasizes the reuse, recycling, and efficient use of
resources, necessitates new competencies and skills to drive its implementation and sustain its growth. Recent studies underscore
the critical role of technical skills in fostering entrepreneurial activities and generating employment opportunities within this
economic model. Research indicates that the shift from a linear to a circular economy in Nigeria has the potential to significantly
boost entrepreneurial growth and employment, particularly through enhancing technical proficiencies in recycling operations. A
study by Okoye (2023) found a strong positive correlation between technical capabilities in recycling and the creation of job
opportunities for youth in Nigeria, suggesting that possessing such competencies can enhance economic stability and employment
rates (Okoye, 2023).
Similarly, in the context of manufacturing, the transition to a circular economy requires a workforce skilled in new circular
strategies, processes, and practices. Pinzone and Taisch (2023) highlighted the importance of technical-managerial competencies,
such as designing for multiple product-service life cycles and developing digital solutions, which are essential for circular
manufacturing. These competencies are pivotal for companies aiming to adopt circular economy principles effectively (Pinzone &
Taisch, 2023). The intersection of knowledge management and entrepreneurship development within the circular economy is also
noteworthy. Deshpande (2020) revealed that integrating technical knowledge of traditional, recycling, and circular economies can
significantly enhance entrepreneurial strategies and economic development. This integration is crucial for building processes that
support entrepreneurship in a circular economy context (Deshpande, 2020).
Moreover, the potential for job creation through circular economy practices is evident in studies focusing on various regions.
Borms et al. (2023) demonstrated that reskilling the labor force to meet the demands of circular strategies, such as increased
reuse, repair, and recycling, can address unemployment and qualitative mismatches in the labor market. Their research
emphasized the necessity for technical knowledge and digital skills to support circular business models (Borms et al., 2023).
Therefore, embracing technical skills within the circular economy framework is a strategic approach for fostering
entrepreneurship and creating jobs. The development of technical competencies in circular practices not only enhances the
entrepreneurial landscape but also ensures sustainable economic growth and job stability.
INTERNATIONAL JOURNAL OF LATEST TECHNOLOGY IN ENGINEERING,
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Statement of Research Problems
The embrace of technical skills within the circular economy framework presents unique challenges that hinder its potential for
entrepreneurship development and job creation. These challenges are multifaceted and stem from various underlying issues.
Firstly, there is a significant gap in the level of technical proficiency among individuals engaged in the circular economy,
particularly in developing regions such as Nigeria. Okoye (2023) highlights the insufficient exploration of employment
opportunities within the circular economy due to the lack of technical skills among the workforce. This deficiency limits the
ability of young entrepreneurs to harness the full potential of circular practices, thereby stifling job creation and economic
stability (Okoye, 2023).
Moreover, the mismatch between the current skills of the labor force and the needs of circular startups exacerbates unemployment
issues. Borms et al. (2023) found that the qualitative mismatch between supply and demand in the labor market can be addressed
by reskilling the workforce to meet the demands of circular strategies such as reuse, repair, and recycling. However, the
implementation of such reskilling programs remains inadequate, creating a barrier to effective job creation (Borms et al., 2023).
Additionally, the integration of technical skills within circular economy practices is often hindered by inadequate education and
training programs. Deshpande (2020) argues that the lack of comprehensive strategies to manage knowledge and technical skills
necessary for the circular economy impedes the development of entrepreneurship. Effective strategies for knowledge management
are crucial to foster entrepreneurship that can leverage circular economy practices (Deshpande, 2020).
Furthermore, the dynamic capabilities required for circular business model innovation are under-explored, particularly within
incumbent firms. Santa-Maria et al. (2021) identify that the process of innovating business models for the circular economy is not
well understood, which hampers the ability of businesses to implement sustainable practices effectively. This lack of
understanding poses a significant challenge for firms trying to transition to circular economy principles (Santa-Maria et al., 2021).
Objective of the study
The main objective of the study is to determine the Impact of technical skill in circular economy on job creation and
entrepreneurship development in Nigeria; while the specific objectives are:
1. To assess the Impact of technical skills in circular economy on entrepreneurship development in Nigeria
2. To evaluate the role of technical skill relating to circular economy in job creation in Nigeria
3. To assess the influence of technical skill relating to circular economy in entrepreneurship development in Nigeria
II. Literature Review
Conceptual Review
The transition towards a circular economy (CE) involves a paradigm shift from the traditional linear economy of 'take, make,
dispose' to a more sustainable model that focuses on reusing, recycling, repairing, and repurposing materials. This shift
necessitates the development of technical skills and innovations that can foster entrepreneurship and job creation. The following
sections discuss the key concepts and constructs relevant to this study: entrepreneurship development, job creation, circular
economy, reuse, recycle, repair/refurbish, repurpose, energy efficiency, and reskill.
Entrepreneurship Development
Entrepreneurship development in the context of a circular economy involves fostering new business models that emphasize
sustainable practices. Entrepreneurs play a critical role in identifying and exploiting opportunities within the CE framework. They
can drive innovation by integrating circular principles into their operations, thereby creating new markets and enhancing
economic resilience. For example, Ranta, Aarikka-Stenroos, and Mäkinen (2018) highlight how circular business models can
generate value through cost-efficiency, take-back services, and the management of multiple positions in the value chain (Ranta,
Aarikka-Stenroos, & Mäkinen, 2018).
Job Creation
The circular economy can significantly contribute to job creation by introducing new roles and reskilling the existing workforce.
Circular strategies such as reuse, repair, and recycling create employment opportunities across various sectors. According to
Horbach and Rammer (2019), firms that adopt CE innovations tend to experience better growth in employment and financial
standing (Horbach & Rammer, 2019). Additionally, Moreno-Mondéjar, Triguero, and Cuerva (2021) found that circular practices
like reusing materials and redesigning products are positively associated with green job creation (Moreno-Mondéjar, Triguero, &
Cuerva, 2021).
Circular Economy
The circular economy is an economic system aimed at eliminating waste and the continual use of resources. It involves
redesigning products and systems to be restorative and regenerative by intention. This model supports sustainable development by
closing the loop on product lifecycles through greater resource efficiency and waste minimization. As described by Camilleri
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(2018), CE strategies include repairing, reusing, remanufacturing, refurbishing, and recycling to minimize environmental impacts
and enhance resource efficiency (Camilleri, 2018).
Reuse
Reuse involves using products or components for the same purpose they were originally designed for, thus extending their
lifecycle. This practice reduces the demand for new materials and the waste generated from discarded items. The reuse of
materials and products can create job opportunities in collection, refurbishment, and resale markets. Mhatre, Gedam, and
Unnikrishnan (2023) emphasize the economic and environmental benefits of reusing construction materials, highlighting its role
in sustainable development
Recycle
Recycling involves processing used materials into new products to prevent waste and reduce the consumption of fresh raw
materials. This process is critical for creating a sustainable loop where materials are continuously repurposed. Ghisellini, Ripa,
and Ulgiati (2017) discuss how recycling within the construction and demolition sector can provide both environmental and
economic benefits, although its effectiveness can vary based on specific site conditions.
Repair/Refurbish
Repair and refurbish involve restoring damaged or obsolete products to a functional state, extending their useful life. These
activities are essential for maintaining the value of products within the circular economy and reducing the need for new
production. Reike, Vermeulen, and Witjes (2017) highlight the importance of repair and refurbish as crucial retention options for
achieving higher levels of circularity.
Repurpose
Repurposing involves adapting products or materials for a new use different from what they were originally designed for. This
approach can reduce waste and create innovative business opportunities. Veleva and Bodkin (2018) demonstrate how
entrepreneurial companies can lead the way in repurposing waste materials, thereby driving new economic activities and reducing
environmental impact.
Energy Efficiency
Energy efficiency is a key component of the circular economy, aimed at reducing energy consumption and improving the
efficiency of energy use throughout the lifecycle of products. Implementing energy-efficient practices can significantly lower
operational costs and environmental impacts. Varbanov and Walmsley (2019) discuss how process integration and performance
targets can enhance energy efficiency in industrial operations, supporting the circular economy goals.
Reskill
Reskilling involves training and developing the workforce to equip them with new skills required for the circular economy. This
process is vital for ensuring that employees can adapt to new roles and technologies that support circular practices. Borms et al.
(2023) emphasize the need for reskilling to align the labor force with the demands of circular strategies, thereby addressing
unemployment and qualitative mismatches in the labor market (Borms et al., 2023).
Theoretical Review
Human Capital Theory (HCT)
Human Capital Theory, propounded by Gary Becker in 1964, emphasizes the importance of investing in people’s education and
skills to enhance their productivity and economic value. Becker argued that education and training are forms of investment in
human capital, analogous to investments in physical capital, such as machinery or equipment. In the context of the circular
economy, developing technical skills through education and training can significantly enhance entrepreneurship development and
job creation. Studies have shown that in Nigeria, improving technical skills through targeted education can lead to greater
employment opportunities and economic stability (Kamar et al., 2021).
Resource-Based View (RBV)
The Resource-Based View (RBV), introduced by Jay Barney in 1991, posits that firms can achieve sustainable competitive
advantage by acquiring and managing valuable, rare, inimitable, and non-substitutable (VRIN) resources. In the circular
economy, technical skills and innovative practices are critical resources that can drive entrepreneurship. These skills enable firms
to implement circular strategies such as recycling, repurposing, and refurbishing, which are essential for sustainable development.
The RBV framework supports the notion that technical competencies are crucial for fostering entrepreneurship and achieving
economic growth in Nigeria (Okoye, 2023).
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Dynamic Capabilities Theory (DCT)
The Dynamic Capabilities Theory, developed by David Teece, Gary Pisano, and Amy Shuen in 1997, focuses on a firm’s ability
to integrate, build, and reconfigure internal and external competences to address rapidly changing environments. This theory is
particularly relevant to the circular economy, where continuous innovation and adaptation are necessary. The ability to develop
and enhance technical skills allows businesses to adapt to circular economic practices effectively, thereby driving
entrepreneurship and job creation. This dynamic capability is crucial for companies in Nigeria to remain competitive and
sustainable (Akinola et al., 2023).
Ecological Modernization Theory (EMT)
Ecological Modernization Theory, introduced by Joseph Huber in the 1980s, suggests that technological advancements and
economic growth can go hand in hand with environmental protection. EMT argues that environmental challenges can be
addressed through innovations that lead to more sustainable industrial practices. In the context of the circular economy, this
theory supports the development of technical skills that enable more efficient resource use, waste reduction, and the creation of
green jobs. This theoretical perspective underscores the importance of integrating technical education with sustainable practices to
promote entrepreneurship and job creation in Nigeria (Varbanov & Walmsley, 2019).
Social Capital Theory
Social Capital Theory, popularized by Pierre Bourdieu in 1986, emphasizes the value of social networks and relationships in
achieving economic outcomes. Social capital can facilitate access to resources, information, and support, which are crucial for
entrepreneurial success. In the circular economy, fostering networks and collaborations can enhance the sharing of knowledge and
technical skills, leading to greater innovation and job creation. This theory highlights the role of community and institutional
support in developing the technical skills necessary for a thriving circular economy in Nigeria (Muhammad et al., 2019).
In conclusion, the integration of these theories provides a comprehensive framework for understanding the importance of
technical skills in the circular economy for entrepreneurship development and job creation in Nigeria. By investing in human
capital, leveraging valuable resources, developing dynamic capabilities, promoting ecological modernization, and fostering social
capital, Nigeria can create a sustainable and thriving economic environment.
Empirical Review
Recent research underscores the significant impact of technical skills and circular economy practices on entrepreneurship
development and job creation in Nigeria. Okoye (2023) conducted a survey involving 300 respondents in Lagos State, Nigeria,
using a proportionate random sample technique. The study found a statistically significant positive relationship between technical
capabilities in recycling operations and job creation for young individuals, evidenced by a correlation coefficient of 0.97 and a p-
value of 0.00. This indicates that enhancing technical competencies in circular industrial practices can foster employment
opportunities and ensure long-term economic stability. Kamar, Terzungwe, and Muhammad (2021) explored the role of
entrepreneurship education as a panacea for job creation and sustainable development in Nigeria. Utilizing a literature review and
conceptual analysis guided by human capital theory and risk-taking theory, the study emphasized the necessity of
entrepreneurship education in preparing young people for the labor market and developing their entrepreneurial skills. The study
recommends creating a supportive economic environment to encourage entrepreneurial activities.
Segun (2021) adopted a narrative-textual case study approach to assess the strategic importance of entrepreneurship for
sustainable economic growth in Nigeria. The study highlighted the vital role of entrepreneurship in economic growth and regional
development. However, it identified inadequate infrastructure and political instability as significant barriers to entrepreneurial
activities in the country. The study concluded that improving security and infrastructure is essential for fostering a conducive
environment for entrepreneurship. Zhu, Jia, and Lin (2019) conducted a field study on sustainable circular agriculture in China,
which is relevant for understanding the broader context of circular economy practices. Using triangulation methodology,
including stakeholder interviews and market research, the study demonstrated that circular agriculture could achieve economic,
ecological, and social benefits. It highlighted the crucial role of entrepreneurship in sustaining circular businesses and the
importance of government support.
Anugwu and Adani (2021) employed a survey research design to assess entrepreneurial development and job availability in South
East Nigeria. Analyzing data using mean scores and correlation tools, the study found that entrepreneurial development
significantly benefits job availability in the region. Similarly, Onileowo and Anifowose (2020) analyzed secondary data to explore
the significance of entrepreneurship in Nigerian economic development. The study concluded that entrepreneurship substantially
contributes to employment generation and economic growth, recommending enhanced enabling environments for entrepreneurial
activities. Garba (2017) reviewed the role of educational policies in promoting entrepreneurship amidst poverty and
unemployment in Nigeria. The study found that effective educational policies are crucial for fostering entrepreneurship, which
can stimulate economic growth and reduce unemployment. Nzelibe and Ezekiel (2019) developed a conceptual model to redesign
entrepreneurship curriculum in Nigerian universities. Their study emphasized that a well-designed curriculum is essential for
fostering entrepreneurial development and creating a knowledge-based economy.
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Ozigbo (2022) reviewed the dynamics of technological entrepreneurship in Nigeria, highlighting its importance for job creation
and economic development. The study called for further research on the long-term effects of technological entrepreneurship.
Akinola et al. (2023) conducted a literature review and conceptual analysis to examine the role of vocational and entrepreneurial
skills acquisition in job creation and poverty alleviation among Nigerian youths. The study emphasized the importance of
promoting practical skills acquisition to foster economic growth and reduce poverty.
III Methodology
This study adopted a survey research design, combining both quantitative and qualitative approaches to provide a comprehensive
understanding of the impact of technical skills and circular economy practices on entrepreneurship development and job creation
in Nigeria. The research was conducted in Lagos State, Nigeria, a region known for its significant industrial and entrepreneurial
activities. Lagos State provides a diverse environment that includes formal and informal sectors, making it an ideal location for
studying the interplay between circular economy practices and entrepreneurship.
The target population for this study includes entrepreneurs, employees, and stakeholders within the circular economy sectors in
Lagos State. This includes individuals involved in recycling, repurposing, refurbishing, and other circular practices. A stratified
random sampling technique was employed to ensure representation from different sectors and levels of involvement in the
circular economy. For the quantitative sample, the survey involved 384 participants, determined using Cochran’s formula for
sample size determination. The sample was stratified to include equal representation from the informal sector, formal sector, and
government agencies involved in circular economy activities. For the qualitative component, 16 participants were selected for in-
depth interviews and focus group discussions, including key informants such as policymakers, business owners, and experts in
circular economy practices.
A structured questionnaire was developed for the survey, comprising both closed-ended questions based on 4-point Likert scale.
The questionnaire covered areas such as technical skills, entrepreneurial activities, job creation, and the challenges faced in
implementing circular economy practices. For the qualitative component, a semi-structured interview guide was used for in-depth
interviews and focus group discussions. The guide included questions designed to elicit detailed information on experiences,
perceptions, and recommendations regarding the impact of circular economy practices on entrepreneurship and job creation. Data
collection for the quantitative component involved administering the survey through face-to-face online questionnaires. Trained
research assistants conducted the face-to-face interviews to ensure participants fully understand the questions and provide
accurate responses in the case of the case of the informal sectors where illiterate respondents were encountered. The qualitative
data collection involved the researchers and a team of trained facilitators conducting the in-depth interviews and focus group
discussions. Each session was recorded with the consent of the participants and transcribed for analysis.
Quantitative data from the survey was analyzed using descriptive and inferential statistics. Statistical tools such as mean, standard
deviation, correlation, and regression analysis were employed to determine the relationships between variables. The Statistical
Package for the Social Sciences (SPSS) software was used for data analysis. Qualitative data was analyzed using thematic
analysis. The transcripts from the interviews and focus group discussions was coded, and themes were identified to understand
the key issues and insights related to the study’s objectives. To ensure the validity of the survey instrument, a pilot test was
conducted with a small sample of 100 respondents, and the feedback was used to refine the questionnaire. Reliability was tested
using Cronbach’s alpha to measure internal consistency, and component factor analysis for validity of the instrument. The study
adhered to ethical standards in research. Informed consent was obtained from all participants, ensuring that they were fully aware
of the purpose of the study and their rights as participants. Confidentiality was maintained, and data was anonymized to protect
the identity of respondents.
IV Analysis and Result
Table 1: Factor Analysis (Validity Statistics)
Component
Initial Eigenvalues
Extraction Sums of Squared Loadings
Total
% of Variance
Cumulative %
Total
% of Variance
Cumulative %
1
3.363
28.022
28.022
3.363
28.022
28.022
2
2.994
24.952
52.975
2.994
24.952
52.975
3
2.670
22.246
75.221
2.670
22.246
75.221
4
1.200
10.000
85.221
6
.791
6.592
100.000
Table 1 presents the results of the factor analysis, focusing on the cumulative total variance explained by the extracted
components. The analysis identifies four components with eigenvalues greater than 1. The first component explains 28.022% of
the variance, the second component accounts for 24.952%, and the third component adds another 22.246%. The cumulative
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variance explained by the first three components is 75.221%, indicating that these components together account for a significant
portion of the total variance in the data. This high cumulative variance suggests that the factors extracted are valid and explain a
substantial amount of the variability in the dataset.
Table 2: Reliability Statistics
Reliability Statistics
Cronbach's Alpha
N of Items
.650
12
Table 2 presents the reliability statistics, specifically the Cronbach's Alpha value, which is .730 for 12 items. Cronbach's Alpha is
a measure of internal consistency, or how closely related a set of items are as a group. A value above 0.7 is generally considered
acceptable, indicating that the items have relatively high internal consistency and the scale is reliable for the study.
Regression Analysis (Model 1)
Table 3: Model Summary
Model Summary
Model
R
R Square
Adjusted R
Square
Std. Error of the Estimate
1
.810
a
.656
.655
1.02281
a. Predictors: (Constant), SE
Table 3 presents the model summary for the first regression analysis, examining the impact of Circular Economy (CE) on Job
Creation (JC). The R value is .810, indicating a strong correlation between CE and JC. The R Square value is .656, meaning that
65.6% of the variance in job creation can be explained by the circular economy. The adjusted R Square, which adjusts for the
number of predictors in the model, is .655, confirming the model's explanatory power.
Table 4: ANOVA
ANOVA
a
Model
Sum of Squares
df
Mean Square
F
Sig.
1
Regression
792.595
1
792.595
757.634
.000
b
Residual
416.365
398
1.046
Total
1208.960
399
a. Dependent Variable: JC
b. Predictors: (Constant), SE
Table 4 provides the ANOVA results for the first model. The F value is 757.634, and the significance (Sig) value is .000. This
indicates that the regression model is statistically significant, and the predictor variable, Circular Economy (CE), significantly
affects the dependent variable, Job Creation (JC).
Table 5: Coefficients
Coefficients
a
Model
Unstandardized Coefficients
Standardized Coefficients
t
Sig.
B
Std. Error
Beta
1
(Constant)
3.067
.283
10.823
.000
SE
.768
.028
.810
27.525
.000
a. Dependent Variable: JC
Table 5 presents the coefficients for the first regression model. The unstandardized coefficient B for the constant is 3.067, with a t
value of 10.823 and a significance (Sig) value of .000, indicating it is statistically significant. The unstandardized coefficient B
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for CE is .768, with a t value of 27.525 and a significance (Sig) value of .000. This means that for every unit increase in Circular
Economy, Job Creation increases by .768 units, demonstrating a significant positive relationship.
Regression Analysis (Model 2)
Table 6: Model Summary
Model Summary
Model
R
R Square
Adjusted R
Square
Std. Error of the Estimate
1
.819
a
.670
.669
1.00814
a. Predictors: (Constant), SE
Table 6 presents the model summary for the second regression analysis, assessing the impact of Circular Economy (CE) on
Entrepreneurship Development (ED). The R value is .819, indicating a strong correlation between CE and ED. The R Square
value is .670, meaning that 67% of the variance in entrepreneurship development can be explained by the circular economy. The
adjusted R Square is .669, reinforcing the model's robustness.
Table 7: ANOVA
ANOVA
a
Model
Sum of Squares
df
Mean Square
F
Sig.
1
Regression
822.428
1
822.428
809.194
.000
b
Residual
404.509
398
1.016
Total
1226.937
399
a. Dependent Variable: ED
b. Predictors: (Constant), SE
Table 7 provides the ANOVA results for the second model. The F value is 809.194, and the significance (Sig) value is .000. This
indicates that the regression model is statistically significant, and the predictor variable, Circular Economy (CE), significantly
affects the dependent variable, Entrepreneurship Development (ED).
Table 8: Coefficients
Coefficients
a
Model
Unstandardized Coefficients
Standardized Coefficients
t
Sig.
B
Std. Error
Beta
1
(Constant)
2.972
.279
10.638
.000
SE
.783
.028
.819
28.446
.000
a. Dependent Variable: ED
Table 8 presents the coefficients for the second regression model. The unstandardized coefficient B for the constant is 2.972, with
a t value of 10.638 and a significance (Sig) value of .000, indicating it is statistically significant. The unstandardized coefficient B
for CE is .783, with a t value of 28.446 and a significance (Sig) value of .000. This means that for every unit increase in Circular
Economy, Entrepreneurship Development increases by .783 units, demonstrating a significant positive relationship.
Testing of Hypothesis
Hypothesis 1 (Model 1)
HO
1
: There is no significant relationship between technical skill in circular economy and job creation.
Based on the regression analysis (Model 1), the F value is 757.634 with a significance (Sig) value of .000. Additionally, the
coefficient for Circular Economy (CE) is .768 with a t value of 27.525 and a Sig value of .000. Since the p-value is less than the
chosen significance level (0.05), we reject the null hypothesis. Thus, there is a significant relationship between technical skill in
circular economy and job creation.
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Hypothesis 2 (Model 2)
HO
2
: There is no significant relationship between technical skill in circular economy and entrepreneurship development.
Based on the regression analysis (Model 2), the F value is 809.194 with a significance (Sig) value of .000. Additionally, the
coefficient for Circular Economy (CE) is .783 with a t value of 28.446 and a Sig value of .000. Since the p-value is less than the
chosen significance level (0.05), we reject the null hypothesis. Thus, there is a significant relationship between technical skill in
circular economy and entrepreneurship development.
V Discussion of Results
The findings from the regression analyses highlight the significant impact of technical skills related to the circular economy on
both job creation and entrepreneurship development in Nigeria. The high R Square values in both models suggest that a
substantial portion of the variance in job creation and entrepreneurship development can be explained by the circular economy.
The significant coefficients for Circular Economy in both models underscore the critical role that technical skills in this area play
in fostering economic growth and development. These results align with existing literature emphasizing the importance of circular
economy practices in driving sustainable job creation and entrepreneurial activities.
VI Conclusion
This study highlights the significant role that technical skills and circular economy practices play in fostering entrepreneurship
development and job creation in Nigeria. By adopting a mixed-methods research design, the study provides a comprehensive
understanding of how these elements interact to drive economic growth and sustainability. The findings demonstrate that
enhancing technical competencies in circular industrial practices can significantly increase employment opportunities and ensure
long-term economic stability, particularly for young individuals.
The empirical evidence suggests that effective entrepreneurship education, supportive economic environments, and strategic
policy interventions are crucial for maximizing the benefits of circular economy practices. Moreover, the integration of technical
skills into the educational curriculum and targeted reskilling programs can further empower the workforce to engage in
sustainable entrepreneurial activities.
The study's recommendations underscore the need for collaborative efforts between government, non-governmental
organizations, and corporate entities to promote initiatives within the circular economy. Such collaborations can provide the
necessary resources, support, and infrastructure to facilitate the transition from a linear to a circular economy, thereby enhancing
entrepreneurship and job creation.
In conclusion, embracing technical skills within the circular economy framework presents a viable strategy for addressing
unemployment and promoting sustainable economic development in Nigeria. The insights gained from this study can inform
policymakers, educators, and industry stakeholders on the best practices and approaches to foster a resilient and thriving
entrepreneurial ecosystem. By investing in the development of technical skills and supporting circular economy practices, Nigeria
can create a more sustainable and inclusive economic future.
Recommendations
Enhance Technical Skills Training: Government and educational institutions should collaborate to integrate comprehensive
technical skills training into the curriculum at all educational levels. This includes primary, secondary, and tertiary institutions,
focusing on skills relevant to the circular economy, such as recycling, repurposing, and refurbishing.
Promote Entrepreneurship Education: Expand and improve entrepreneurship education programs to equip young people with the
knowledge and skills needed to start and manage sustainable businesses. This can be achieved by including practical
entrepreneurial experiences, mentorship programs, and business incubation support in the educational system.
Create Supportive Economic Environments: The government should create policies that provide a conducive environment for
entrepreneurship. This includes simplifying business registration processes, providing tax incentives for startups, and ensuring
access to finance through grants, loans, and investment opportunities.
Foster Public-Private Partnerships: Encourage collaborations between government, non-governmental organizations, and the
private sector to develop initiatives that support the circular economy. These partnerships can facilitate resource sharing,
innovation, and the scaling of successful circular economy projects.
Develop Reskilling Programs: Implement targeted reskilling programs for workers in industries affected by the transition to a
circular economy. These programs should focus on developing new competencies required for circular practices, ensuring that the
existing workforce can adapt to and thrive in the evolving economic landscape.
Invest in Infrastructure: Improve infrastructure to support circular economy activities. This includes developing efficient waste
management systems, establishing recycling and repurposing facilities, and creating industrial parks dedicated to circular
economy enterprises.
INTERNATIONAL JOURNAL OF LATEST TECHNOLOGY IN ENGINEERING,
MANAGEMENT & APPLIED SCIENCE (IJLTEMAS)
ISSN 2278-2540 | DOI: 10.51583/IJLTEMAS | Volume XIII, Issue VII, July 2024
www.ijltemas.in Page 101
Increase Awareness and Advocacy: Launch awareness campaigns to educate the public about the benefits of the circular economy
and the importance of technical skills in fostering entrepreneurship and job creation. Advocacy can also encourage the adoption of
sustainable practices among businesses and consumers.
Monitor and Evaluate Policies: Establish mechanisms to regularly monitor and evaluate the effectiveness of policies and
programs related to the circular economy and entrepreneurship. This will ensure that initiatives are meeting their objectives and
provide data to inform necessary adjustments.
Support Innovation and Research: Provide funding and resources for research and development in circular economy technologies
and practices. Encouraging innovation can lead to new business opportunities and improve the efficiency and effectiveness of
circular economy activities.
Empower Local Communities: Engage local communities in the planning and implementation of circular economy initiatives.
Empowering communities through education, resources, and participation can drive grassroots entrepreneurship and create
localized job opportunities.
By implementing these recommendations, Nigeria can harness the full potential of technical skills and circular economy practices
to drive entrepreneurship development and job creation, thereby fostering sustainable economic growth and resilience.
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