Green Product Innovation and Business Sustainability: Evidence From Kamwire Steel Limited, Ilorin, Kwara State

Abstract

The increasing environmental degradation and resource depletion associated with industrial activities, particularly in the construction and steel industry, have raised serious concerns about the sustainability of business operations. Despite growing global emphasis on sustainability, many firms in developing economies continue to struggle with integrating environmentally friendly innovations into their production processes. This gap necessitates empirical investigation into how green product innovation can enhance business sustainability. This study examines the effect of green product innovation on business sustainability, using employees of Kamwire Steel Limited in Ilorin, Kwara State, Nigeria as the study population. A quantitative research approach with a cross-sectional survey design was adopted. The population of the study comprised 500 employees, from which a sample size of 222 was determined using the Taro Yamane formula. Data were collected through a structured questionnaire and analysed using descriptive statistics and multiple linear regression analysis. The findings reveal that green product innovation has a significant positive effect on business sustainability. Specifically, eco-design (â = 0.231, p < 0.01), green material usage (â = 0.198, p < 0.01), energy-efficient production (â = 0.276, p < 0.01), and waste reduction and recycling (â = 0.189, p < 0.01) were found to significantly influence sustainability outcomes. Among these, energy-efficient production emerged as the most influential predictor. The model explained a substantial proportion of variance in business sustainability, indicating the critical role of environmentally oriented innovation in achieving sustainable performance. The study concluded that green product innovation is a key driver of business sustainability in the construction and steel industry. It recommends that firms should prioritise energy-efficient technologies, adopt eco-design practices, utilise sustainable materials, and implement effective recycling systems.