To diversify the economy, the federal government is preparing to launch a strategic initiative aimed at establishing Nigeria as a key player in the global Halal market.
This comprehensive strategy will be unveiled on Wednesday and focuses on harnessing the potential of Halal products and services, which adhere to Islamic standards and reflect values of ethics and integrity.
Aliyu Bunu Sheriff, Special Assistant to the President on Export Expansion (Office of the Vice President), announced the upcoming launch of the Halal Stakeholders Engagement Programme, scheduled for the State House Conference Centre in Abuj
The initiative aims to unite government agencies, private sector leaders, and international partners to leverage Nigeria’s position as the eighth-largest Halal economy globally.
Sheriff emphasized that the Halal economy offers a significant opportunity for economic diversification, foreign exchange generation, and sustainable growth.
He projected that by boosting Halal exports and focusing on strategic import substitution, Nigeria could see an increase of nearly $1.5 billion in GDP by 2027.
He also noted that the Halal economy goes beyond religious compliance, embodying universal principles of ethics and quality that appeal to diverse cultures.
The success of Sukuk bonds and the growing interest in Islamic banking highlight that Halal principles align with global economic standards and can benefit all Nigerians.
Sheriff underscored that focusing on the Halal economy will enable Nigerian businesses to compete globally and elevate national standards to world-class levels.
