New policy targets $1.5 billion GDP boost by 2027 as Nigeria moves to expand exports, create jobs, and deepen economic diversification….
President Bola Tinubu has launched Nigeria’s National Halal Economy Strategy, a policy initiative designed to position the country within the rapidly expanding $7.7 trillion global halal market while advancing efforts to diversify the economy.
The launch took place on Thursday at the Presidential Villa in Abuja, where Vice President Kashim Shettima represented the President, according to a statement from the Presidency.
Government projections indicate that the strategy could contribute an estimated $1.5 billion to Nigeria’s gross domestic product by 2027.
Speaking at the unveiling, Shettima described the move as a strong signal of Nigeria’s readiness to compete in the global halal economy, a sector already embraced by several major economies. He explained that the strategy offers a clear roadmap for Nigeria’s participation across multiple industries, including food and beverages, pharmaceuticals, cosmetics, logistics, tourism, and finance.
According to the Vice President, the policy reflects the government’s commitment to aligning Nigeria’s production capacity with global halal standards and transforming emerging opportunities into long-term economic value. He emphasized that success would depend on disciplined, inclusive, and measurable implementation, particularly in delivering jobs and expanding export potential.
He noted that the strategy represents a national commitment to meeting international standards with local capacity, adding that the next phase must translate policy into practical outcomes that promote shared prosperity nationwide.
Shettima also disclosed that implementation of the National Halal Economy Strategy will be led by the Minister of Industry, Trade and Investment, Jumoke Oduwole.
Earlier in January, during President Tinubu’s visit to Türkiye, Nigeria reaffirmed its commitment to building a globally competitive halal ecosystem. A key outcome of that visit was the signing of an agreement on Halal Quality Infrastructure between both countries, aimed at strengthening certification, accreditation, and quality assurance systems to improve global acceptance of Nigerian halal products and services.
The federal government first announced plans for the strategy in 2024, projecting that it would increase halal exports, support strategic import substitution, and contribute nearly $1.5 billion to Nigeria’s GDP by 2027.
The halal economy refers to a global system of goods, services, and investments that comply with Islamic law. Valued at more than $7 trillion, it extends beyond food into sectors such as pharmaceuticals, cosmetics, modest fashion, tourism, and Islamic finance, with an emphasis on ethical, hygienic, and sustainable practices. Major global halal hubs currently include Malaysia, Brazil, and Australia.
The new strategy is expected to strengthen Nigeria’s position in global trade while unlocking new opportunities for growth, exports, and job creation.
