The Federal Government on Thursday unveiled a national strategy to exploit the $7.7tn (£6.1tn) global halal economy, aiming to unlock $12bn in value and transform Nigeria into a halal-friendly tourism destination.
Vice-President Kashim Shettima stated this when he represented President Bola Tinubu to launch the Nigeria National Halal Economy Strategy at the Presidential Villa, Abuja.
The Vice President described it as a bold move to diversify exports, attract investment and create jobs, projecting a $1.5bn addition to Gross Domestic Product (GDP) by 2027.
“This document is a declaration of our promise to meet global standards with Nigerian capacity and to convert opportunity into lasting economic value,” Shettima said.
He stressed the need for “disciplined, inclusive and measurable” action to deliver jobs, exports and prosperity.
The strategy, chaired by the Minister of Industry, Trade and Investment Jumoke Oduwole, sets 2030 targets including halal-compliant food exports, pharmaceutical and cosmetics supply chains, ethical finance and tourism.
A statement by the Senior Special Assistant to the President on Media and Communications Stamley Nkwocha said the strategy was developed with Saudi Arabia’s Halal Products Development Company (HPDC), a subsidiary of the kingdom’s public investment fund, plus local firm Dar Al-Halal Group Nigeria and support from the Islamic Development Bank.
Vice President Shettima dismissed fears of religious bias, insisting the halal market – now embraced by the UK, France, Germany, the US and others – revolves around “quality, traceability, safety and ethical production”.
These standards, he said, appeal to global consumers demanding trust in supply chains.
