By Our Reporter
ABUJA (PRECISE POST) – President Bola Ahmed Tinubu has launched Nigeria’s National Halal Economy Strategy, a policy framework designed to position the country to tap into the $7.7 trillion global halal market, diversify the economy, and unlock an estimated $12 billion in economic value by 2030.
The strategy was unveiled on Thursday at the Presidential Villa, Abuja, by Vice President Kashim Shettima, who represented the President. Shettima said the initiative signals Nigeria’s readiness to compete globally in an economy that prioritises quality, safety, traceability, and ethical production.
According to the Vice President, the strategy is projected to add about $1.5 billion to Nigeria’s Gross Domestic Product by 2027 while creating jobs, boosting exports, and promoting shared prosperity across the country, the statement released on Thursday on the X handle of the Senior Special Assistant to The President on Media & Communications (Office of The Vice President), Stanley Nkwocha said.
“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. “What follows must be disciplined, inclusive, and measurable action so that this strategy delivers jobs, exports, and shared prosperity.”
Shettima announced that the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, will chair the National Halal Strategy Committee, describing her as “supremely competent” to lead its implementation.
He outlined the key targets of the strategy to include 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.
“These cumulative efforts are projected to unlock over twelve billion dollars in economic value, strengthen food security, deepen industrial capacity, and create opportunities for small and medium enterprises across our states,” the Vice President said.
Addressing concerns that halal initiatives are religiously driven, Shettima said the global halal economy has evolved beyond faith-based interpretations and is now defined by trust, quality assurance, and ethical standards that appeal to a wide range of consumers and investors.
He noted that several advanced economies, including the United Kingdom, France, Germany, the United States, Canada, Australia, and New Zealand, are already leading producers and exporters of halal-certified food, pharmaceuticals, cosmetics, and financial products.
“Their experience confirms a simple truth,” he said. “The halal economy is a global market framework rooted in standards and consumer trust, not geography or belief.”
Shettima explained that the strategy aligns with the Tinubu administration’s drive to diversify exports, attract foreign direct investment, and create sustainable jobs. He added that it was developed in partnership with the Halal Products Development Company (HPDC), a subsidiary of the Saudi Public Investment Fund, Dar Al-Halal Group Nigeria, and supported by institutions such as the Islamic Development Bank and the Arab Bank for Economic Development in Africa.
He also recalled that President Tinubu’s recent state visit to Türkiye reinforced Nigeria’s commitment to building a competitive halal ecosystem, with both countries signing an agreement on halal quality infrastructure to strengthen standards, accreditation, and certification.
Speaking at the event, Dr. Oduwole described the strategy as a product of extensive public-private collaboration, coordinated by the Office of the Vice President, with active participation from key ministries, departments, and agencies.
She said the initiative positions Nigeria among countries exporting halal-certified goods globally and noted that the African Continental Free Trade Area (AfCFTA) would be leveraged to expand exports across Africa and other willing markets. Participation, she stressed, would remain voluntary.
Chairman and CEO of Dar Al-Halal Group Nigeria Limited, Alhaji Muhammadu Dikko Ladan, described the strategy as a landmark opportunity that would expand market access and attract foreign investment. He disclosed that an export programme is already underway to onboard Nigerian companies into the Saudi Arabian market and beyond.
The French Ambassador to Nigeria, Marc Fonbaustier, represented by Carole Lebreton, said the strategy would also strengthen Nigeria–France economic relations, adding that France was ready to support Nigeria’s export drive in food, cosmetics, and pharmaceuticals.
The event was attended by senior government officials and industry stakeholders, including the CEO of the Nigeria Export Promotion Council, Nonye Ayeni; Managing Director of the Bank of Industry, Olasupo Olusi; and the President’s Special Adviser on Job Creation and MSMEs, Temitola Adekunle Johnson.
The National Halal Economy Strategy was developed by HPDC of Saudi Arabia following a bilateral cooperation agreement signed with Nigeria in February 2025 at the Makkah Halal Forum, aimed at integrating Nigeria into global halal value chains and deepening Nigeria–Saudi Arabia economic relations.
