Nigeria has taken a decisive step toward economic diversification with the launch of its National Halal Economy Strategy. The initiative is designed to integrate the country into one of the fastest-growing segments of global trade. Valued at an estimated $7.7 trillion, the halal economy spans food, pharmaceuticals, cosmetics, tourism, logistics, and ethical finance. Together, these sectors offer Nigeria a new pathway to growth beyond traditional exports.

The strategy was formally unveiled on behalf of President Bola Ahmed Tinubu by Vice President Kashim Shettima. At its core, the initiative reflects a broader ambition. It seeks to align Nigerian production with global quality standards while creating jobs, boosting exports, and delivering long-term economic value.

The administration has deliberately avoided framing halal as a religious construct. Instead, it presents halal as a market system built on trust, safety, and traceability. This approach is intentional. In today’s global markets, consumers and investors increasingly demand clarity in how goods are produced, financed, and delivered. When properly implemented, halal certification responds directly to these expectations.

From a policy perspective, the strategy sets out a clear economic direction. Government projections suggest that by 2027, halal-related activities could contribute over $1.5 billion to Nigeria’s GDP. By 2030, cumulative economic value is expected to exceed $12 billion. These gains are expected to come from halal-compliant food exports, new pharmaceutical and cosmetic value chains, halal-friendly tourism, and the growth of ethical finance.

Execution sits at the centre of the strategy. The administration has called for actions that are disciplined, inclusive, and measurable. This reflects a recognition that strategies only matter when they produce real outcomes for businesses, workers, and investors. Oversight of the initiative rests with the Ministry of Industry, Trade and Investment, highlighting its role in Nigeria’s industrial and export agenda.

A key feature of the strategy is its global orientation. Advanced economies such as the United Kingdom, Germany, France, the United States, Canada, Australia, and New Zealand are already leading producers and exporters of halal-certified products. Their participation highlights an important reality. The halal economy is no longer defined by geography or belief, but by compliance with internationally recognised standards.

Nigeria’s approach reflects this shift. By embedding quality assurance, certification systems, and traceability into domestic production, the country aims to compete on credibility rather than sentiment. This enables Nigerian firms to access markets in the Middle East, Europe, North America, and Asia. It also creates opportunities within Africa through the African Continental Free Trade Area (AfCFTA).

The strategy is the result of extensive collaboration between the public and private sectors. It was developed in partnership with the Halal Products Development Company, a subsidiary of Saudi Arabia’s Public Investment Fund, alongside Dar Al Halal Group Nigeria. Technical support was provided by international development institutions, including the Islamic Development Bank and the Arab Bank for Economic Development in Africa. This blend of policy leadership, private-sector input, and international expertise gives the initiative credibility and practical grounding.

For Nigerian businesses, participation in the halal economy is voluntary, but the incentives are clear. Companies that meet halal standards gain access to new export markets, stronger consumer trust, and alignment with global best practices in quality and safety. For small and medium-sized enterprises in particular, this opens the door to global value chains that reward consistency and compliance.

Beyond immediate economic gains, the strategy signals something larger. It reflects Nigeria’s intention to compete in modern global markets not just on volume, but on standards, reliability, and trust. In this sense, the National Halal Economy Strategy is less about religion and more about repositioning the country within a changing global economy; one where credibility is currency and quality is a competitive advantage.

For Nigerian executives, the real question is not whether the halal economy is large. It is whether their organisations are structurally ready to meet its standards. Certification, traceability, and process discipline (not intent) will determine who captures value.

The success of the strategy will depend less on market access and more on Nigeria’s ability to build strong certification systems, effective supply-chain auditing, and coordination across agencies at scale.

Ironically, the greatest risk to Nigeria’s halal ambitions may not be global competition. It may come from domestic fragmentation, where inconsistent standards weaken trust instead of building it.

Source: NAN News