Nigeria Launches National Economy Strategy to Tap $7.7 Trillion Halal Market
Nigeria has unveiled a national economy strategy aimed at capitalizing on the $7.7 trillion global halal market. The strategy, launched by the President at the Presidential Villa in Abuja, involves key figures like Vice President Kashim Shettima and Muhammadu Dikko Ladan, Chairman and CEO of Dar Al Halal Group Nigeria.
The initiative seeks to add $1.5 billion to Nigeria's GDP by 2027 through measures such as expanding halal-compliant food exports, developing pharmaceutical and cosmetic value chains, and promoting halal-friendly tourism destinations. The strategy aligns with the government's commitment to export diversification, foreign direct investment, and sustainable job creation.
Partnerships with entities like the Saudi Public Investment Fund, Dar Al Halal Group Nigeria, Islam Development Bank, and Arab Bank for Economic Development in Africa are crucial for the strategy's success.
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