FG to exploit $7tr Halal market

Federal Government has disclosed plans to launch a comprehensive strategy to position Nigeria as a leading player in the Halal economy. It gave the assurance, yesterday, in readiness for the launch of the Halal market tomorrow, saying it was part of the initiatives by the Federal government to diversify the economy and tap into the burgeoning global Halal market.

It is market that offers products and services that meet Islamic standards and embodies ethics, integrity, and universal values that resonate across cultures and regions.

Speaking ahead of tomorrow’s Halal Stakeholders Engagement Programme, billed to hold at the State House Conference Centre in Abuja, the Special Assistant to the President on Export Expansion, Aliyu Bunu Sheriff, said the initiative would bring together government agencies, private sector leaders, and international partners with a view to capitalising on Nigeria’s position as the eighth largest domestic Halal economy globally.

“The Halal economy represents a tremendous opportunity for Nigeria to diversify our economy, generate foreign exchange, and achieve sustainable growth”

“By increasing our Halal exports and focusing on strategic import substitution, we project an addition of nearly $1.5 billion to our GDP by 2027,” Sheriff said.

According the presidential aide, the Halal economy extends beyond religious compliance, embodying principles of ethics, integrity, and quality that resonate across cultures.