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.
