President Bola Ahmed Tinubu has officially launched Nigeria’s National Halal Economy Strategy, a policy aimed at positioning the country to benefit from the rapidly growing $7.7 trillion global halal market while promoting economic diversification.
The strategy was unveiled on Thursday at the Presidential Villa in Abuja, with Vice President Kashim Shettima representing the president. According to Tinubu, the initiative signals Nigeria’s readiness to claim a significant share of the global halal economy, which covers halal-certified food products, pharmaceuticals, cosmetics, tourism, ethical finance, and other related sectors.
Speaking at the event, the president emphasized the importance of disciplined, inclusive, and results-oriented implementation. He noted that the success of the strategy would depend on strong collaboration among government institutions, the private sector, and other key stakeholders to ensure job creation, shared prosperity, and increased participation in international trade.
The National Halal Economy Strategy sets ambitious targets to be achieved by 2030. These include expanding exports of halal-compliant food products, developing strong value chains in pharmaceuticals and cosmetics, positioning Nigeria as a halal-friendly tourism destination, and scaling up ethical and non-interest finance mechanisms.
Government projections suggest that the strategy could contribute an estimated $1.5 billion to Nigeria’s Gross Domestic Product by 2027, while unlocking up to $12 billion in broader domestic economic value over the next decade.
Implementation of the policy will be overseen by a dedicated committee chaired by the Minister of Industry, Trade and Investment, highlighting the federal government’s commitment to structured execution, accountability, and measurable outcomes.