Nigeria Can Lead In Expanding $7.7 Trillion Global Halal Market – VP Shettima

Nigeria Can Lead In Expanding $7.7 Trillion Global Halal Market – VP Shettima

Vice President Kashim Shettima has highlighted Nigeria’s potential to become a leading hub in the global halal economy. Speaking at the Halal Economy Stakeholders Engagement Programme at the Presidential Villa in Abuja, Shettima emphasized that Nigeria’s economic and demographic strengths position it well to tap into the burgeoning halal market, which is expected to reach $7.7 trillion by 2025……CONTINUE READING 

To realize this potential, Shettima stressed the need for Nigeria to reassess its weaknesses and focus on its strengths. He called for collaboration with key international organizations to build a robust halal ecosystem and develop strategies to position Nigeria as a major halal exporter targeting high-value markets.

Shettima praised the private sector for its significant contributions to the halal economy, particularly in the financial sector, and urged all stakeholders to support President Bola Ahmed Tinubu’s administration in advancing the halal sector. He advocated for attracting international investment through investor summits, roadshows, and business matchmaking events, and highlighted the African Continental Free Trade Area (AfCFTA) as a valuable platform for expanding regional trade in halal goods and services.

He also called for increased public awareness and engagement through strategic campaigns, specialized training programs, and deeper global market interactions to enhance Nigeria’s halal sector’s visibility and competitiveness. Shettima pointed out that the halal economy, which caters to various stakeholders, aligns with President Tinubu’s broader agenda.

He noted that Nigeria’s unique economic and demographic advantages could foster a dynamic halal investment sector. With non-Muslim countries also capitalizing on the halal market, Shettima emphasized that Nigeria must act swiftly to leverage this opportunity and meet the high standards of quality, safety, and sustainability demanded by consumers.