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.