Nigeria Keys into $7.7trn Global Halal Market as National Economy Strategy is Launched

• Tinubu assures it’ll unlock $12bn economic value for Nigeria, position nation as halal-friendly tourism destination 

•Oduwole to chair strategy committee

Deji Elumoye in Abuja

President Bola Tinubu yesterday launched Nigeria’s National Halal Economy Strategy aimed at positioning the country to tap into the $7.7 trillion global halal market and diversify its economy.

Tinubu described the unveiling of the strategy as a signal of Nigeria’s readiness to join the world in grabbing a huge chunk of the global halal economy already embraced by leading nations. He said the strategy also clearly defined Nigeria’s direction within the market expected to add an estimated $1.5 billion to the country’s Gross Domestic Product (GDP) by 2027.

Speaking while unveiling the Nigeria National Halal Economy Strategy at State House, Abuja, the president, who was represented by Vice President Kashim Shettima, called for disciplined, inclusive, and measurable action for the strategy to deliver jobs, and shared prosperity across the country.

He 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.

“It is going to be chaired by the supremely competent Minister of Industry, Trade and Investment.”

The vice president outlined what he described as clear and measurable ambitions set by the strategy, 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” by 2030.

According to him, 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.”

Allaying concerns by those linking the halal with religious affiliation, Shettima pointed out that the global halal economy had since outgrown parochial interpretations.

He stated, “It is no longer defined solely by faith, but by trust, through systems that emphasise quality, traceability, safety, and ethical production. These principles resonate far beyond any single community.

“They speak to consumers, investors, and trading partners who increasingly demand certainty in how goods are produced, financed, and delivered. It is within this broader understanding that Nigeria now positions itself.”

The vice president stated that 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”.

He listed the developed countries, including the United Kingdom, France, Germany, the Netherlands, the United States, Canada, Australia, and New Zealand, saying they are currently among “leading producers, certifiers, and exporters of halal food, pharmaceuticals, cosmetics, and financial products”.

Shettima said what those developed nations had experienced was a confirmation of a simple truth, that “the halal economy is a global market framework rooted in standards, safety, and consumer trust, not geography or belief”.

He explained that while the Nigeria National Halal Economy Strategy was the result of careful study and sober reflection, it was inspired by the commitment of the administration of President Bola Tinubu “to diversify exports, attract foreign direct investment, and create sustainable jobs across the federation”.

He added, “It is also the product of deliberate partnership, developed with the Halal Products Development Company, a subsidiary of the Saudi Public Investment Fund, alongside 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.”

Tinubu’s recent state visit to the Republic of Türkiye further reinforced Nigeria’s commitment to developing a globally competitive halal ecosystem, the government said.

A major outcome of that visit was the signing of an Agreement in the Field of Halal Quality Infrastructure between Nigeria and Türkiye, aimed at strengthening standards, accreditation, certification, and quality assurance systems to enhance international acceptance of Nigerian halal products and services.

Commenting on the unveiling, Chairperson of National Halal Strategy Committee, and Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, said the launch of the Nigeria National Halal Strategy was a public-private collaboration that involved extensive interaction with stakeholders.

Oduwole stated that the private sector led the charge in ensuring that it was a whole-of-government and whole-of-country intervention, with the Office of the Vice President coordinating all ministries, departments, and agencies, while the Federal Ministry of Industry, Trade and Investment played a pivotal role.

The minister stressed that what the halal strategy had done for Nigeria “is to position us among countries that export Halal-certified goods across the world”.

Oduwole said, “We are going to leverage the African Continental Free Trade Area (AfCFTA) to ensure we export our Halal-friendly goods to the rest of Africa and beyond to any willing markets; participation is voluntary.”

She assured that as chairperson, her ministry would deliver on the objectives of the strategy for the prosperity of the country.

Earlier, Chairman and CEO of Dar Al-Halal Group Nigeria Limited, Alhaji Muhammadu Ladan, expressed satisfaction that the Halal Product Development Company collaborated with the group in developing the National Halal Economy Strategy.

Ladan stated that, in addition to the strategy, an export programme was underway, which involved the Ministry of Trade and Investment, through which Nigerian companies could be on-boarded into the Saudi Arabian market and beyond.

Ladan described the strategy as a landmark opportunity for Nigeria, as it created market access and attracted foreign direct investment.

French Ambassador to Nigeria, Marc Fonbaustier, represented by Financial Counsellor at the French Embassy in Nigeria, Carole Lebreton, said the halal strategy was also key to Nigeria–France relations, as the French government explored more ways to build socio-economic bridges with Nigeria.

She said the French government stood ready to support Nigeria’s export drive, especially in the areas of food, cosmetics, and pharmaceuticals.

The Nigerian delegation at the unveiling included CEO of Nigeria Export Promotion Council, Mrs Nonye Ayeni; Managing Director of Bank of Industry, Mr Olasupo Olusi; and Special Adviser to the President on Job Creation and MSMEs, Temitola Johnson, among others.

Developed by Halal Products Development Company (HPDC) of the Kingdom of Saudi Arabia — a wholly owned subsidiary of the Saudi Public Investment Fund — the strategy is an outcome of the bilateral cooperation agreement signed between Nigeria and HPDC in February 2025 at the Makkah Halal Forum.

The collaboration seeks to deepen Nigeria–Saudi Arabia economic relations while leveraging HPDC’s global reach to attract investment, improve market access, and integrate Nigeria into international halal value chains.