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Nigeria Eyes $7tn Global Halal Market with New Strategy

Government targets Halal market to diversify economy and boost GDP growth by 2027

The Nigerian government is set to launch a comprehensive strategy aimed at positioning the country as a major player in the $7 trillion global Halal economy.

This was disclosed by the Special Assistant to the Vice President on Export Expansion, Aliyu Sheriff, on Monday, ahead of the Halal Stakeholders Engagement Programme scheduled for Wednesday at the State House Conference Centre in Abuja.

According to a statement signed by the Senior Special Assistant to the Vice President on Media and Communications, Stanley Nkwocha, the government’s Halal strategy is designed to grow Nigeria’s Gross Domestic Product (GDP) to $1.5 billion by 2027.

The initiative seeks to leverage Nigeria’s position as the eighth-largest domestic Halal economy globally, tapping into a booming market for products and services that adhere to Islamic standards of permissibility, ethics, and universal values.

The Halal Stakeholders Engagement Programme will bring together key players, including government agencies, private sector leaders, and international partners, to explore avenues for expanding Nigeria’s footprint in the global Halal market.

The initiative is part of the government’s broader effort to diversify the economy and reduce reliance on oil exports by promoting non-oil sectors.

Sheriff emphasized that the strategy will not only boost Nigeria’s exports but also enhance its competitiveness in industries such as food, cosmetics, pharmaceuticals, and tourism, all of which have significant potential in the Halal economy.

Vivian Akinyosoye
Vivian Akinyosoye is a seasoned journalist with a background in English Language and a Masters degree in International Law & Diplomacy. She officially began her career in journalism when she joined Channels Television Lagos Nigeria in 2000. Her work in Channels allowed her to hone her skills as a journalist laying a solid foundation for a successful career as a versatile reporter covering Human angle stories, Health, Aviation, Metrofile, Travels, Business and Finance. She served as State House Correspondent Abuja in her early years with Channels TV and has trained at the London Academy for Film, Media and TV. She also served briefly with Silverbird Television Lagos Nigeria before joining African Voices 1 Network Intl (AV1 News) where she currently serves as Lead Editor, Business & Finance.

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