The Federal Government of Nigeria has launched its National Halal Economy Strategy, a comprehensive framework designed to position the country as a significant player in the $7.7 trillion global halal market. Vice President Kashim Shettima unveiled the strategy at the Presidential Villa in Abuja, describing it as a declaration of Nigeria's readiness to compete on the global stage.
The strategy is projected to add an estimated $1.5 billion to Nigeria's GDP by 2027 and unlock over $12 billion in economic value through expanded exports, industrial capacity, and opportunities for small and medium-sized enterprises across the country.
Beyond Religious Affiliation
Addressing concerns about the religious connotations of halal, Vice President Shettima emphasised that the global halal economy has evolved beyond its origins. "It is no longer defined solely by faith, but by trust, through systems that emphasise quality, traceability, safety, and ethical production," he stated.
The Vice President noted that leading Western economies have already recognised the commercial appeal of the halal economy. The United Kingdom, France, Germany, the Netherlands, the United States, Canada, Australia, and New Zealand are currently among the world's leading producers, certifiers, and exporters of halal food, pharmaceuticals, cosmetics, and financial products.
Strategic Partnerships
The strategy was developed in partnership with the Halal Products Development Company, a subsidiary of the Saudi Public Investment Fund, alongside Dar Al Halal Group Nigeria. Technical backing comes from the Islamic Development Bank and the Arab Bank for Economic Development in Africa.
A recent state visit to Turkey by President Tinubu resulted in the signing of an Agreement in the Field of Halal Quality Infrastructure, aimed at strengthening standards, accreditation, certification, and quality assurance systems to enhance international acceptance of Nigerian halal products.
Key Sectors and Opportunities
The strategy outlines clear ambitions for 2030, including expanding halal-compliant food exports, developing pharmaceutical and cosmetic value chains, positioning Nigeria as a halal-friendly tourism destination, and mobilising ethical finance at scale.
Dr. Jumoke Oduwole, Minister of Industry, Trade and Investment and Chairperson of the National Halal Strategy Committee, emphasised that Nigeria will leverage the African Continental Free Trade Area (AfCFTA) to export halal-certified goods across Africa and beyond.
What This Means for Business
For businesses and investors, the halal economy strategy opens new avenues for export-oriented ventures. Companies that can meet halal certification standards will gain access to a rapidly growing global market. The strategy also signals government commitment to diversifying the economy beyond oil, creating opportunities in food processing, pharmaceuticals, cosmetics, tourism, and financial services.
The French Ambassador to Nigeria indicated that France stands ready to support Nigeria's export drive, particularly in food, cosmetics, and pharmaceuticals, suggesting potential for international partnerships and technology transfer.
Source: State House Nigeria, Ministry of Industry, Trade and Investment