TINUBU LAUNCHES HALAL ECONOMY STRATEGY TO TAP INTO $7.7TN GLOBAL MARKET
Read Time:2 Minute, 38 Second
By: Sefiu Ajape
President Bola Tinubu on Thursday in Abuja officially launched Nigeria’s National Halal Economy Strategy, aimed at positioning the country to tap into the $7.7tn global halal market and diversify the economy.
Represented by Vice President Kashim Shettima, Tinubu described the unveiling as “a signal of Nigeria’s readiness to join the global halal economy, already embraced by leading nations.”
Speaking at the Presidential Villa, Abuja, he said the strategy calls for “disciplined, inclusive, and measurable action to ensure the strategy delivers jobs and shared prosperity across the country,” adding that it is expected to contribute an estimated $1.5bn to Nigeria’s GDP by 2027.
He further stated, “It is with this sense of responsibility that I formally unveil the Nigeria National Halal Economy Strategy. This document is a declaration of our promise to meet global standards with Nigerian capacity and to convert opportunity into lasting economic value. What follows must be action that is disciplined, inclusive, and measurable, so that this Strategy delivers jobs, exports, and shared prosperity across our nation.”
Highlighting the strategic objectives, Tinubu said the plan focuses on “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,” with the cumulative efforts 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.”
He clarified that “the halal economy is a global market framework rooted in standards, safety, and consumer trust, not geography or belief,” stressing that the initiative transcends religious affiliation.
Tinubu also noted Nigeria’s collaboration with the Halal Products Development Company, a subsidiary of the Saudi Public Investment Fund, alongside Dar Al Halal Group Nigeria, with technical support from institutions such as the Islamic Development Bank and the Arab Bank for Economic Development in Africa.
On his recent visit to Türkiye, the President witnessed the signing of an agreement in the field of Halal Quality Infrastructure aimed at strengthening accreditation, certification, and quality assurance systems to boost international acceptance of Nigerian halal products.
Dr. Jumoke Oduwole, Chairperson of the National Halal Strategy Committee and Minister of Industry, Trade and Investment, described the launch as “a public-private collaboration” and a “whole-of-government and whole-of-country intervention,” aimed at positioning Nigeria among countries that export halal-certified goods globally.
Muhammadu Ladan, Chairman and CEO of Dar Al-Halal Group Nigeria, called the Strategy “a landmark opportunity for Nigeria as it creates market access and attracts foreign direct investment,” while the French Embassy affirmed support for Nigeria’s halal export drive.
The unveiling was attended by key Nigerian officials, including the CEO of the Nigeria Export Promotion Council, Mrs Nonye Ayeni; the Managing Director of the Bank of Industry, Mr Olasupo Olusi; and Special Adviser to the President on Job Creation and MSMEs, Temitola Johnson.
The strategy, developed by the Halal Products Development Company of Saudi Arabia, stems from a February 2025 bilateral cooperation agreement signed at the Makkah Halal Forum and aims to integrate Nigeria into international halal value chains.
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