Nigeria Launches National Halal Economy Strategy to Capture $1.5 Billion Global Market Share
Nigeria has officially entered the global halal economy race, unveiling its National Halal Economy Strategy in Abuja yesterday. President Bola Tinubu described the initiative as a “signal of Nigeria’s readiness” to secure a significant portion of the $7.7 trillion market, targeting an estimated $1.5 billion contribution to the country’s GDP by 2027. Represented by Vice President Kashim Shettima, the President emphasized that the strategy reflects Nigeria’s commitment to meet international standards and convert opportunities into lasting economic growth.
The strategy aims to expand halal-compliant exports, including food, pharmaceuticals, and cosmetics, while positioning Nigeria as a halal-friendly tourism destination. Vice President Shettima highlighted the potential of the plan to generate over $12 billion in economic value by 2030, strengthen food security, deepen industrial capacity, and create opportunities for small- and medium-sized enterprises nationwide. He clarified that halal, defined by quality, traceability, and ethical production, appeals to global consumers beyond religious boundaries.
A critical component of the strategy is collaboration with international partners, including the Halal Products Development Company (HPDC) from Saudi Arabia and Dar Al Halal Group Nigeria, with technical support from the Islamic Development Bank and the Arab Bank for Economic Development in Africa. Shettima also referenced Nigeria’s recent state visit to Türkiye, which led to a Halal Quality Infrastructure agreement, enhancing standards, accreditation, and global acceptance of Nigerian halal products.
Minister of Industry, Trade, and Investment Dr. Jumoke Oduwole, who will chair the strategy committee, described the initiative as a “whole-of-government and whole-of-country intervention” shaped by extensive private-sector and stakeholder engagement. She emphasized leveraging the African Continental Free Trade Area (AfCFTA) to expand halal exports across Africa and beyond, ensuring that participation remains voluntary and inclusive.
Industry leaders, including the CEO of Dar Al-Halal Group Nigeria, Muhammadu Dikko Ladan, hailed the strategy as a landmark opportunity for market access and foreign investment. The French Embassy also expressed support, highlighting the potential to strengthen Nigeria-France economic relations. The unveiling drew participation from top government and financial officials, underlining the strategy’s ambition to integrate Nigeria into the global halal value chain and diversify the nation’s economy.
source: The Nation