Nigeria Targets $1.5bn Boost as It Enters the $7.7tr Global Halal Economy
Nigeria has formally positioned itself to tap into the fast-growing global halal market, valued at about $7.7 trillion, with the launch of the National Halal Economy Strategy by the Federal Government. The strategy is expected to contribute up to $1.5 billion to Nigeria’s GDP by 2027, while supporting export diversification, industrial growth and job creation.
The strategy was unveiled at the State House in Abuja by President Bola Tinubu, represented by Vice President Kashim Shettima. According to the President, the initiative signals Nigeria’s readiness to claim a meaningful share of a global market driven by standards, trust and ethical production rather than religion.
What the Halal Strategy Is About
The National Halal Economy Strategy is designed to help Nigeria compete globally by aligning local production with internationally accepted halal standards. It focuses on building export-ready value chains, improving certification systems and attracting ethical finance to scale businesses across multiple sectors.
President Tinubu described the strategy as a commitment to “meet global standards with Nigerian capacity” and convert opportunities into sustainable economic value. He emphasised that implementation must be disciplined, inclusive and measurable, with real outcomes such as jobs, exports and shared prosperity.
Key Sectors Nigeria Is Targeting
According to Vice President Shettima, the strategy looks ahead to 2030 and prioritises several growth areas. These include expanding halal-compliant food exports, developing pharmaceutical and cosmetic manufacturing value chains, positioning Nigeria as a halal-friendly tourism destination, and mobilising ethical and non-interest finance at scale.
Combined, these efforts are projected to unlock over $12 billion in economic value, strengthen food security, deepen industrial capacity and create opportunities for small and medium-sized enterprises across the country.
Halal Beyond Religion
Addressing common misconceptions, Shettima stressed that the modern halal economy is no longer about religion alone. Instead, it is anchored on quality, safety, traceability and ethical production, principles that appeal to a wide range of global consumers and investors.
He noted that many Western economies — including the UK, France, Germany, the US, Canada and Australia — are already major producers and exporters of halal-certified food, pharmaceuticals, cosmetics and financial products. According to him, halal is now a global quality framework rather than a faith-based market.
Strong International Partnerships
The strategy was developed through partnerships involving the Halal Products Development Company (HPDC), a subsidiary of Saudi Arabia’s 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.
Nigeria’s recent state visit to Türkiye also played a key role. One major outcome was the signing of a Halal Quality Infrastructure agreement, aimed at strengthening standards, accreditation, certification and quality assurance systems to improve global acceptance of Nigerian halal products.
Role of the Private Sector and AfCFTA
Minister of Industry, Trade and Investment, Doris Uzoka-Anite (represented at the event), highlighted that the strategy is a public-private collaboration shaped by extensive stakeholder engagement. While government agencies will coordinate policy and regulation, the private sector is expected to drive execution and market expansion.
Nigeria also plans to leverage the African Continental Free Trade Area (AfCFTA) to expand exports of halal-friendly goods across Africa and beyond, with participation remaining voluntary for businesses.
Export Drive Already Underway
Dar Al-Halal Group Nigeria confirmed that an export onboarding programme is already in progress to help Nigerian companies access the Saudi Arabian market and other international destinations. The initiative is expected to boost foreign direct investment and open new markets for Nigerian manufacturers.
International interest is also growing. France, through its embassy, signalled readiness to support Nigeria’s halal export drive, particularly in food, cosmetics and pharmaceuticals, strengthening Nigeria–France economic ties.
Why This Matters
At a time when Nigeria is pushing to diversify away from oil dependence, the halal economy offers a structured, standards-driven pathway to scale exports, attract investment and integrate local businesses into global value chains. If effectively implemented, the strategy could become a quiet but powerful contributor to long-term economic growth.
Nigeria has formally positioned itself to tap into the fast-growing global halal market, valued at about $7.7 trillion, with the launch of the National Halal Economy Strategy by the Federal Government. The strategy is expected to contribute up to $1.5 billion to Nigeria’s GDP by 2027, while supporting export diversification, industrial growth and job creation.
The strategy was unveiled at the State House in Abuja by President Bola Tinubu, represented by Vice President Kashim Shettima. According to the President, the initiative signals Nigeria’s readiness to claim a meaningful share of a global market driven by standards, trust and ethical production rather than religion.
What the Halal Strategy Is About
The National Halal Economy Strategy is designed to help Nigeria compete globally by aligning local production with internationally accepted halal standards. It focuses on building export-ready value chains, improving certification systems and attracting ethical finance to scale businesses across multiple sectors.
President Tinubu described the strategy as a commitment to “meet global standards with Nigerian capacity” and convert opportunities into sustainable economic value. He emphasised that implementation must be disciplined, inclusive and measurable, with real outcomes such as jobs, exports and shared prosperity.
Key Sectors Nigeria Is Targeting
According to Vice President Shettima, the strategy looks ahead to 2030 and prioritises several growth areas. These include expanding halal-compliant food exports, developing pharmaceutical and cosmetic manufacturing value chains, positioning Nigeria as a halal-friendly tourism destination, and mobilising ethical and non-interest finance at scale.
Combined, these efforts are projected to unlock over $12 billion in economic value, strengthen food security, deepen industrial capacity and create opportunities for small and medium-sized enterprises across the country.
Halal Beyond Religion
Addressing common misconceptions, Shettima stressed that the modern halal economy is no longer about religion alone. Instead, it is anchored on quality, safety, traceability and ethical production, principles that appeal to a wide range of global consumers and investors.
He noted that many Western economies — including the UK, France, Germany, the US, Canada and Australia — are already major producers and exporters of halal-certified food, pharmaceuticals, cosmetics and financial products. According to him, halal is now a global quality framework rather than a faith-based market.
Strong International Partnerships
The strategy was developed through partnerships involving the Halal Products Development Company (HPDC), a subsidiary of Saudi Arabia’s 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.
Nigeria’s recent state visit to Türkiye also played a key role. One major outcome was the signing of a Halal Quality Infrastructure agreement, aimed at strengthening standards, accreditation, certification and quality assurance systems to improve global acceptance of Nigerian halal products.
Role of the Private Sector and AfCFTA
Minister of Industry, Trade and Investment, Doris Uzoka-Anite (represented at the event), highlighted that the strategy is a public-private collaboration shaped by extensive stakeholder engagement. While government agencies will coordinate policy and regulation, the private sector is expected to drive execution and market expansion.
Nigeria also plans to leverage the African Continental Free Trade Area (AfCFTA) to expand exports of halal-friendly goods across Africa and beyond, with participation remaining voluntary for businesses.
Export Drive Already Underway
Dar Al-Halal Group Nigeria confirmed that an export onboarding programme is already in progress to help Nigerian companies access the Saudi Arabian market and other international destinations. The initiative is expected to boost foreign direct investment and open new markets for Nigerian manufacturers.
International interest is also growing. France, through its embassy, signalled readiness to support Nigeria’s halal export drive, particularly in food, cosmetics and pharmaceuticals, strengthening Nigeria–France economic ties.
Why This Matters
At a time when Nigeria is pushing to diversify away from oil dependence, the halal economy offers a structured, standards-driven pathway to scale exports, attract investment and integrate local businesses into global value chains. If effectively implemented, the strategy could become a quiet but powerful contributor to long-term economic growth.