Nigeria has launched a comprehensive National Halal Economy Strategy aimed at capturing a significant share of the global halal market, valued at $7.7 trillion, and diversifying its economic base. President Bola Tinubu, represented by Vice President Kashim Shettima, inaugurated the strategy on Thursday, describing it as a declaration of the nation’s intent to meet international standards and convert opportunity into sustainable economic value.
The strategy is projected to contribute an estimated $1.5 billion to Nigeria’s GDP by 2027 and unlock over $12 billion in cumulative economic value by 2030. President Tinubu stressed that success requires disciplined, inclusive, and measurable action to deliver jobs, exports, and shared prosperity. He clarified that the modern halal economy transcends religious affiliation, rooted instead in principles of quality, traceability, safety, and ethical production that command global consumer trust. “It is no longer defined solely by faith, but by trust,” he stated, noting that advanced economies like the UK, France, Germany, the US, Canada, Australia, and New Zealand are already leading producers and exporters of halal goods.
The strategy will focus on developing halal-compliant food exports, pharmaceutical and cosmetic value chains, and promoting Nigeria as a halal-friendly tourism destination. It also includes mobilising ethical finance and strengthening food security and industrial capacity, with particular attention to opportunities for small and medium-sized enterprises. The initiative, chaired by the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, is a public-private partnership developed with technical backing from the Islamic Development Bank and the Arab Bank for Economic Development in Africa, in collaboration with the Halal Products Development Company (a subsidiary of the Saudi Public Investment Fund) and Dar Al Halal Group Nigeria.
Minister Oduwole affirmed that the strategy positions Nigeria among countries exporting halal-certified goods globally. She highlighted the African Continental Free Trade Area (AfCFTA) as a key vehicle for exporting halal-friendly products across Africa and to other willing markets. Dar Al Halal’s Chairman, Muhammadu Dikko-Ladan, added that an accompanying export programme is underway to onboard Nigerian companies into the Saudi Arabian market and beyond, describing the strategy as a landmark for market access and foreign direct investment.
The launch signifies Nigeria’s strategic entry into a high-growth global sector, framing halal compliance as a universal standard for quality and ethics that supports economic diversification, job creation, and increased non-oil exports.
