Tinubu Targets $7.7 Trillion Global Market with National Halal Economy Strategy

President Bola Ahmed Tinubu has officially launched Nigeria’s National Halal Economy Strategy, a bold initiative aimed at positioning the country within the $7.7 trillion global halal market.

The launch took place at the Presidential Villa, Abuja, with Vice President Senator Kashim Shettima representing the president at the event. The strategy is designed to diversify Nigeria’s economy beyond oil by developing sectors such as halal food and beverages, pharmaceuticals, cosmetics, logistics, tourism, and Islamic finance. Government projections suggest that the initiative could add $1.5 billion to Nigeria’s GDP by 2027 and potentially unlock over $12 billion in economic value by 2030 through expanded exports and strengthened value chains. According to officials, the program will create jobs, boost growth, and enhance Nigeria’s competitiveness in international trade. It also emphasizes public-private collaboration, ensuring that the strategy leverages both government support and private sector expertise. Dr. Jumoke Oduwole, Minister of Industry, Trade and Investment, will chair the implementation committee, working alongside multiple government agencies and stakeholders to ensure the strategy meets global halal standards. Nigeria has already begun forging international partnerships with countries such as Saudi Arabia and Türkiye to ensure Nigerian halal products gain global acceptance and certification. Speaking at the launch, government officials highlighted the economic and strategic importance of the halal market, noting that the sector has grown far beyond religious consumption to encompass quality, safety, and traceability standards valued by consumers worldwide. The initiative underscores President Tinubu’s commitment to economic diversification, job creation, and export-led growth, while tapping into a rapidly expanding global market that offers significant opportunities for Nigerian businesses.