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Abstract As industries seek innovative and collaborative solutions to reduce carbon footprints as a result of exploration and production activities to contribute to the carbon neutrality goal, the effective utilization of natural gas presents a unique opportunity as an investment in the circular economy that promotes a sustainable production and consumption design for energy resources. Nigeria has a natural gas proven reserve of 208tcf, ranking the ninth largest country in the world but only about 8bscf/day is produced, with about 44% exported through the Nigerian Liquefied Natural Gas NLNG Company. 16% of the gas produced is consumed in the domestic market which is not enough to cover up for the energy deficit posed by the supply and demand alongside a growing population that directly affects the accessibility and reliability of energy resources. Additionally, natural gas as a transition fuel makes up about 25% of the energy mix and poses an effective means of investing, creating entrepreneurial opportunities, collaborative investments, and active policies to contribute to the net-zero goal by 2050. Hence, harnessing and leveraging the advantages of natural gas, increasing its utilization in the domestic market, reducing energy imports, and maximum implementation of the National Gas Expansion Programme NGEP and the Nigerian Auto-gas Policy is a sustainable way of effectively investing in the circular economy as natural gas acts as an environmental steward during its processing into its derivatives. This paper involves a review of literature. The analysis drawn from the International Gas Union IGU, the International Energy Agency IEA, the Energy Information Administration EIA, and the Nigerian Gas Association NGA underscores the need for continual, innovative and collaborative efforts to meet the growing population's energy demand. It also establishes the relationship between the circular economy and the Energy Trilemma, the roles of individuals in ensuring sustainable energy use practices, and the energy providers. This paper also highlights the derivatives of natural gas, processing and marketing operations, and how optimization of its derivatives could contribute to the sustainability goal. Overall, having an increase of natural gas demand from 11-57% by the Energy Information Administration EIA Global Demand Outlook by 2050 positions Nigeria as one of the energy providers or enablers but must ensure there is an adequate penetration in the domestic market to promote employment opportunities, reduction in price volatility due to import and maximize the opportunity to leverage its natural gas reserve as an active tool for energy security and economic development.
Golagha et al. (Mon,) studied this question.