IMPACT OF CIRCULAR PRODUCTION STRATEGY ON THE SUSTAINABILITY OF CONSUMER GOODS MANUFACTURERS LISTED ON THE NIGERIAN STOCK EXCHANGE

Abstract

This study investigates the impact of the circular production strategy on the sustainability of consumer goods manufacturers (CMGs) listed on the Nigerian Stock Exchange (NSE). The study employs a quantitative positivist research approach with a sample size of 566 drawn from a population of 21 manufacturers with a total staff strength of 22,504. The study is guided by Carroll's Corporate Social Responsibility (CSR) theory and the Cradle-to-Cradle theory and utilized Partial Least Squares Structural Equation Modeling (PLS SEM) for data analysis.The studyfound that the redesign strategy of circular productionpositively affects social and environmental performance. However, the redesign strategy was found to not have a positively significant relationship with economic performance.The study recommended that manufacturers should prioritize circular design and explore pricing models that capture the value of sustainable products while policymakers should incentivize redesign initiatives through tax breaks.