Abuja: President Bola Tinubu on Thursday inaugurated Nigeria’s National Halal Economy Strategy to tap into the $7.7 trillion global halal market and diversify its economy. Tinubu, while inaugurating the strategy, called for disciplined, inclusive, and measurable action for the strategy to deliver jobs and shared prosperity across the country. The News Agency of Nigeria (NAN) reports that the president was represented by Vice-President Kashim Shettima.
According to News Agency of Nigeria, the unveiling of the strategy was described as a signal of Nigeria’s readiness to join the world in capturing a significant portion of the global halal economy, which is already embraced by leading nations. Tinubu highlighted that the strategy is expected to add an estimated $1.5 billion to Nigeria’s Gross Domestic Product (GDP) by 2027. He emphasized the need for disciplined, inclusive, and measurable actions to ensure the strategy delivers jobs, exports, and shared prosperity nationwide, under the leadership of the Minister of Industry, Trade and Investment.
The president further explained that halal-compliant food exports, along with the development of pharmaceutical and cosmetic value chains, would position Nigeria as a halal-friendly tourism destination and enable the mobilization of ethical finance at scale by 2030. These efforts are projected to unlock over twelve billion dollars in economic value while bolstering food security, deepening industrial capacity, and creating opportunities for small-and-medium-sized enterprises across the country.
Addressing concerns regarding the association of halal with religious affiliations, Tinubu clarified that the global halal economy now transcends parochial interpretations. It is defined not solely by faith, but by trust, through systems emphasizing quality, traceability, safety, and ethical production. These principles are appealing to consumers, investors, and trading partners who demand certainty in how goods are produced, financed, and delivered.
Tinubu pointed out that several advanced Western economies, including the United Kingdom, France, Germany, the Netherlands, the United States, Canada, Australia, and New Zealand, have recognized the commercial and ethical appeal of the halal economy. These countries have integrated it into their export and quality-assurance systems, becoming leading producers, certifiers, and exporters of halal food, pharmaceuticals, cosmetics, and financial products.
The president elaborated that the Nigeria National Halal Economy Strategy is the result of careful study, reflection, and a commitment to diversifying exports, attracting foreign direct investment, and creating sustainable jobs across the federation. The strategy was developed in partnership with the Halal Products Development Company, a subsidiary of the Saudi Public Investment Fund, and Dar Al Halal Group Nigeria, with technical backing from institutions such as the Islamic Development Bank and the Arab Bank for Economic Development in Africa.
The Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, highlighted that the inauguration of the strategy was a public-private collaboration involving extensive interaction with stakeholders. As the Chairperson of the National Halal Strategy Committee, Oduwole emphasized that the private sector played a key role in ensuring the strategy is a comprehensive intervention. She noted that the strategy positions Nigeria among countries exporting halal-certified goods worldwide and plans to leverage the African Continental Free Trade Area (AfCFTA) to expand exports of halal-friendly goods across Africa and beyond.
Alhaji Muhammadu Dikko-Ladan, Chairman of Dar Al-Halal Group Nigeria Ltd, explained that the Halal Product Development Company collaborated with the group to develop the strategy. He mentioned an export program underway involving the Ministry of Trade and Investment to onboard Nigerian companies into the Saudi Arabian market and beyond. Dikko-Ladan described the strategy as a landmark opportunity for Nigeria, facilitating market access and attracting foreign direct investment.