Not just "looking", Nigeria has the ambition to "lead" the global Halal market

The Nigerian government is expected to unveil a comprehensive strategy today, September 18, to position the country as a leader in the Halal economy.

Nigeria aims to become a key player in the booming global Halal market. (Source: News Digest)

The project is part of Nigeria's initiatives to diversify its economy and tap into the global Halal market, which is worth trillions of dollars annually and growing.

Earlier, speaking on September 16, Special Assistant to the President on Export Expansion, Mr. Aliyu Sheriff, said the initiative will bring together government agencies, private sector leaders and international partners with the aim of leveraging Nigeria’s position as the 8th largest domestic Halal economy globally.

“The Halal economy represents a huge opportunity for Nigeria to diversify its economy, generate foreign exchange and achieve sustainable growth,” Aliyu Sheriff stressed. “By increasing Halal exports and focusing on strategic import substitution, we expect GDP to increase by nearly $1.5 billion by 2027.”

“Nigeria is poised to become the Halal hub of Africa.” (Professor of Islamic Jurisprudence Luqman Zakariyah, University of Abuja)

The Halal economy goes beyond religious observance, embodying principles of ethics, integrity and quality that resonate across cultures, the presidential aide noted.

“The success of Sukuk bonds and the growing appeal of Islamic banking demonstrate that Halal principles are compatible with global economic standards and can benefit all Nigerians,” he explained.

Therefore, a strategic focus on the Halal industry opens up new avenues for Nigerian businesses to compete internationally.

“It is not just about tapping into the market, it is about raising our standards and operations to world-class levels,” the official added.

Abuja, Nigeria. (Source: Premium Times)

Nigeria is Africa's largest economy, with a population of more than 230 million people, of whom more than 50% are Muslim.

The comprehensive strategy to position Nigeria as a key player in the global Halal economy is expected to be unveiled at the Halal Stakeholder Engagement Programme, which kicks off today, September 18 at the State House Conference Centre in the capital Abuja.

According to Susa Africa , investing in the Halal market could help boost Nigeria's global reputation and attract more foreign investment.

Source: https://baoquocte.vn/khong-chi-nhom-ngo-nigeria-tham-vong-dan-dau-thi-truong-halal-toan-cau-286701.html