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Nigeria Launches National Halal Economy Strategy to Tap into $7.7 Trillion Global Market

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President Bola Ahmed Tinubu on Thursday unveiled Nigeria’s National Halal Economy Strategy, a major initiative aimed at positioning the country to capture a share of the rapidly expanding $7.7 trillion global halal market and accelerate economic diversification.

Represented by Vice President Kashim Shettima at the launch event held at the Presidential Villa in Abuja, President Tinubu described the strategy as a clear signal of Nigeria’s readiness to compete in this growing sector, which leading nations worldwide have already embraced.

The plan is projected to contribute an estimated $1.5 billion to Nigeria’s GDP by 2027, with cumulative efforts expected to unlock over $12 billion in economic value by 2030.

Vice President Shettima emphasized the need for disciplined, inclusive, and measurable implementation to translate the strategy into tangible benefits, including job creation, increased exports, and shared prosperity nationwide.

“It is with this sense of responsibility that I formally unveil the Nigeria National Halal Economy Strategy. This document is a declaration of our promise to meet global standards with Nigerian capacity and to convert opportunity into lasting economic value,” Shettima said. “What follows must be action that is disciplined, inclusive, and measurable, so that this Strategy delivers jobs, exports, and shared prosperity across our nation.

“He announced that the strategy’s implementation committee will be chaired by the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, whom he described as “supremely competent.

“Key ambitions outlined in the strategy include expanding halal-compliant food exports, building value chains in pharmaceuticals and cosmetics, establishing Nigeria as a halal-friendly tourism destination, and scaling up ethical finance initiatives by 2030.

These efforts are expected to enhance food security, strengthen industrial capacity, and open doors for small- and medium-sized enterprises across the country.

Addressing concerns that the halal economy is tied exclusively to religious affiliation, Vice President Shettima clarified that it has evolved into a broader global framework centered on trust, quality, traceability, safety, and ethical production—principles that appeal to consumers, investors, and trading partners worldwide, regardless of faith.

He pointed out that advanced economies such as the United Kingdom, France, Germany, the Netherlands, the United States, Canada, Australia, and New Zealand have integrated halal standards into their export and quality systems, becoming major producers, certifiers, and exporters of halal food, pharmaceuticals, cosmetics, and financial products.

“The halal economy is a global market framework rooted in standards, safety, and consumer trust, not geography or belief,” Shettima noted.

The strategy stems from President Tinubu’s commitment to export diversification, foreign direct investment attraction, and sustainable job creation. It was developed in partnership with the Halal Products Development Company (HPDC)—a subsidiary of Saudi Arabia’s Public Investment Fund—alongside Dar Al Halal Group Nigeria, with support from the Islamic Development Bank and the Arab Bank for Economic Development in Africa.

The collaboration builds on a bilateral agreement signed in February 2025 at the Makkah Halal Forum.

It also aligns with recent diplomatic efforts, including an agreement on halal quality infrastructure signed with Türkiye during President Tinubu’s state visit, aimed at improving standards, certification, and international acceptance of Nigerian halal products.

Minister Oduwole, speaking as the committee chairperson, highlighted the public-private nature of the initiative, involving extensive stakeholder engagement and coordination across government agencies.

She stressed Nigeria’s potential to become a key exporter of halal-certified goods, leveraging the African Continental Free Trade Area (AfCFTA) for access to African and global markets, with participation remaining voluntary.

Alhaji Muhammadu Dikko Ladan, Chairman and CEO of Dar Al-Halal Group Nigeria, welcomed the collaboration and noted an ongoing export program with the Ministry of Industry, Trade and Investment to onboard Nigerian companies into the Saudi market and beyond, calling it a landmark opportunity for market access and foreign investment.

The French Ambassador’s representative, Carole Lebreton, expressed France’s interest in supporting Nigeria’s export ambitions in food, cosmetics, and pharmaceuticals, viewing the strategy as a bridge for stronger bilateral socio-economic ties.

The event was attended by key figures including the CEO of the Nigeria Export Promotion Council, Mrs. Nonye Ayeni; Managing Director of the Bank of Industry, Mr. Olasupo Olusi; and other senior officials.

The launch marks a strategic step in Nigeria’s push to integrate into international halal value chains while promoting inclusive economic growth through high-standard, ethical production systems.

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16-Year-Old Osasere Okundaye Becomes Nigeria’s Youngest Chartered Accountant

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In a remarkable feat that has captured national attention, 16-year-old student Osasere Okundaye has emerged as Nigeria’s youngest chartered accountant, shattering the previous record set in 2022.

Okundaye successfully completed the professional examinations of the Institute of Chartered Accountants of Nigeria (ICAN), earning widespread acclaim as a shining example of youthful excellence and determination. Her achievement comes at an age when many peers are still navigating secondary education or early university studies.

Minister of Youth Development Ayodele Olawande congratulated the young prodigy, describing her accomplishment as an inspiring milestone. “I heartily congratulate Miss Osasere Okundaye on her outstanding achievement of becoming Nigeria’s youngest Chartered Accountant at just 16 years of age,” the minister said, highlighting her hard work and resilience as a symbol of the potential within Nigerian youth.

Okundaye’s success surpasses the record previously held by Jonathan Adewale (also known as Ojo Jonathan Adewale), who qualified as a chartered accountant at age 17 in 2022. Her qualification has sparked pride across the country and renewed focus on empowering young Nigerians in professional fields.

While full ICAN membership typically requires additional practical experience (usually three years), Okundaye’s completion of the rigorous exams marks a historic breakthrough. Details about her educational background and the journey to this achievement are still emerging, but her story is already motivating aspiring accountants and students nationwide.

This milestone underscores the growing narrative of exceptional young talent driving Nigeria forward in various sectors. Congratulations poured in from across social media and media outlets, celebrating Okundaye as a beacon of hope for the nation’s future.

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JUST IN: Vigilante Groups Rescue Kidnapped NECO Students in Borno State

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Local vigilante groups have successfully rescued several students of the National Examinations Council (NECO) who were abducted in Borno State, security sources confirmed on Monday.

The students were reportedly kidnapped while traveling or residing in the area for examination purposes. Details of the exact number rescued and the circumstances of the abduction remain limited, but eyewitness accounts indicate that vigilante fighters acting on intelligence engaged the kidnappers, leading to the release of the captives without major casualties reported among the students.

A community leader in the affected area praised the swift response of the vigilantes, stating that their deep knowledge of the local terrain played a crucial role in tracking the abductors. “These boys and girls were on their way to pursue their education. We thank God and our local defenders for bringing them back safely,” he said.

Borno State has faced persistent security challenges, including banditry and insurgent activities that have occasionally targeted schools and students. The rescue operation highlights the growing reliance on community-based security networks in complementing efforts by the Nigerian military and police in the region.

Authorities are yet to issue an official statement on the incident, but sources say efforts are ongoing to reunite the rescued students with their families and provide necessary medical and psychological support. Investigations into the kidnapping are also underway to apprehend those responsible.

This latest incident comes amid broader concerns over the safety of students in northern Nigeria during examination periods.

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EFCC Charges Former Port Harcourt, Warri Refinery MDs with Money Laundering

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Nigeria’s anti-graft agency, the Economic and Financial Crimes Commission (EFCC), has filed separate money laundering charges against the immediate past Managing Directors of the Port Harcourt Refining Company (PHRC) and the Warri Refining and Petrochemical Company (WRPC).

The accused are Ahmed Adamu Dikko, former MD of the Port Harcourt Refinery, and Jimoh Olasunkanmi Yisawu, former MD of the Warri Refinery. The charges stem from the alleged diversion and laundering of funds earmarked for the rehabilitation of Nigeria’s state-owned refineries.

According to court documents and investigations by PREMIUM TIMES, the EFCC accused the former officials of abusing their positions by receiving and laundering large sums of money through third parties in connection with controversial turnaround maintenance contracts.

The probe forms part of a broader investigation into alleged fraud involving billions of dollars linked to the rehabilitation of the Port Harcourt, Warri, and Kaduna refineries. EFCC sources have indicated that the total amount under scrutiny runs into billions, with earlier recoveries reported at ₦38.66 billion alongside other properties.

The charges include multiple counts of money laundering, with Dikko and Yisawu allegedly involved in diverting public funds meant for critical refinery upgrades. This comes amid ongoing scrutiny of officials from the Nigerian National Petroleum Company Limited (NNPCL) and contractors involved in the projects.

The development is the latest in a series of actions by the EFCC targeting alleged corruption in Nigeria’s oil sector, where massive investments in refinery rehabilitation have yielded limited operational improvements despite significant expenditures.

As of the time of filing, court proceedings for the arraignment of the former MDs were underway. The EFCC has not yet issued an official statement on the matter.

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