Nigeria Targets $1.5bn GDP Boost from Halal Market
President Bola Tinubu has launched Nigeria’s National Halal Economy Strategy, a policy designed to position the country within the $7.7 trillion global halal market and accelerate economic diversification.
The initiative, unveiled at the Presidential Villa in Abuja by Vice President Kashim Shettima, is projected to add $1.5 billion to Nigeria’s GDP by 2027, according to government estimates.
Shettima described the launch as a clear signal of Nigeria’s readiness to compete globally.
“This document is a declaration of our promise to meet global standards with Nigerian capacity and to convert opportunity into lasting economic value,” he said.
The strategy covers multiple sectors including food and beverages, pharmaceuticals, cosmetics, logistics, tourism, and Islamic finance.
Shettima stressed that implementation must be “disciplined, inclusive, and measurable” to deliver jobs, exports, and shared prosperity.
Oversight of the policy will be chaired by the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole.
The government said the next phase will focus on translating policy into action that strengthens Nigeria’s competitiveness.
The launch follows Tinubu’s January 2026 visit to Türkiye, where Nigeria signed an agreement on halal quality infrastructure to improve standards, accreditation, and certification for international acceptance of Nigerian halal products.
Officials noted that Nigeria first announced plans for the strategy in 2024, projecting its contribution to GDP through increased halal exports and strategic import substitution.
“The Halal economy represents a tremendous opportunity for Nigeria to diversify our economy, generate foreign exchange, and achieve sustainable growth,” said Aliyu Sheriff, Special Assistant to the President on Export Expansion.
Globally, the halal economy extends beyond food to pharmaceuticals, cosmetics, modest fashion, tourism, and Islamic finance, with major hubs in Malaysia, Brazil, and Australia.
Nigeria’s entry into this market is seen as a step toward aligning with ethical, sustainable, and hygienic practices driving global trade.