Vice President Kashim Shettima has expressed optimism that Nigeria can emerge as a leading hub for opportunities within the global halal economy, projected to reach a market value of $7.7 trillion by 2025.
Speaking at the Halal Economy Stakeholders Engagement Programme on Wednesday at the Presidential Villa in Abuja, Shettima highlighted the nation’s economic and demographic strengths as pivotal to developing a vibrant halal investment sector.
To position Nigeria effectively in this competitive landscape, Shettima emphasized the need for a thorough reassessment of weaknesses while prioritizing existing strengths. “Today’s engagement offers a platform for collaboration with key international organizations, allowing us to develop a comprehensive halal ecosystem and strategies that will establish Nigeria as a top halal exporter targeting high-value markets,” he stated.
The Vice President acknowledged the private sector’s significant contributions, particularly in the financial realm, and urged all stakeholders to partner with President Bola Ahmed Tinubu’s administration to enhance the halal ecosystem. He stressed the importance of attracting international investments through initiatives like investor summits, roadshows, and business matchmaking events.
Shettima also pointed to the African Continental Free Trade Area (AfCFTA) as a strategic avenue for expanding regional trade, positioning Nigeria as a major supplier of halal goods and services across Africa. “To achieve this, we must elevate public awareness through strategic campaigns, specialized training programs, and deeper engagement with the global market,” he added.
Describing the halal economy as inclusive of all stakeholders, the VP noted its alignment with President Tinubu’s broader agenda. He underscored Nigeria’s unique advantage in tapping into the halal market, which is increasingly recognized not only by Muslim-majority countries but also by non-Muslim nations that are capitalizing on its potential.
With a focus on quality, safety, and sustainability, the halal ecosystem presents vast opportunities for Nigeria in the coming years.
