Nigeria has launched a strategy to promote and grow its halal economy to diversify and tap into the lucrative global halal market.
Nigerian President Bola Tinubu inaugurated the strategy, calling for disciplined, inclusive, and measurable action for the strategy to deliver jobs and prosperity across the country, according to the News Agency of Nigeria.
The strategy hints at Nigeria’s readiness to capture a sizeable chunk of the global halal economy and to define the nation’s direction within the market, which is expected to add an estimated $1.5 billion to the nation’s GDP 2027, according to the premier.
“This document is a declaration of our promise to meet global standards with Nigerian capacity and to convert opportunity into lasting economic value.”
The halal food exports, developing pharmaceutical and cosmetic value chains would position Nigeria as a halal-friendly tourism destination, and mobilise ethical finance at scale by 2030, he added.
“The cumulative efforts are projected to unlock over twelve billion dollars in economic value, while strengthening food security, deepening industrial capacity, and creating opportunities for small-and-medium-sized enterprises across our states,” President Tinubu added.
The premier quashed concerns that link halal solely with religious affiliations, adding that halal is no longer defined by faith alone but by trust through systems that emphasize quality, traceability, safety, and ethical production.
Tinubu said many advanced Western economies had since “recognised the commercial and ethical appeal of the halal economy and have integrated it into their export and quality-assurance systems.”
Developed countries, including the UK, France, Germany, the Netherlands, the US, Canada, Australia, and New Zealand are currently among leading producers, certifiers, and exporters of halal food, pharmaceuticals, cosmetics, and financial products, he added.
The Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, said the inauguration of the strategy was a public-private collaboration that has involved extensive interaction with stakeholders.
“We are going to leverage the African Continental Free Trade Area to ensure we export our halal-friendly goods to the rest of Africa and beyond to any willing markets; participation is voluntary, “ the minister said.
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