The Federal Government has moved to convert Nigeria’s potential in the $7 trillion global halal economy into investment, jobs and exports, with a new national strategy targeting $12 billion in capital mobilisation.
This as the country has declared its intention to become a leading player in the global halal economy, leveraging its large consumer market, agricultural resources, manufacturing capacityand access to the African Continental Free Trade Area (AfCFTA).
Speaking the Lagos Halal Leadership Reception 2026 on Wednesday, Vice President Kashim Shettima said Nigeria could no longer afford to remain a consumer of halal products while other countries dominate production and trade.
Shettima, who was represented by the Minister of State for Budget and Economic Planning, Dr Doris Uzoka-Anite, said Nigeria must not remain a consumer of halal products while other countries capture the greater value generated from the sector.
The reception, held at Eko Hotel, was organised by Halal 360 and The Metropolitan Law Firm, in partnership with the Islamic Chamber of Commerce and Development (ICCD), the Halal Products Development Company (HPDC), the Nigeria Halal Economy Strategy ImplementationCommittee Secretariat (NHESICS), and the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA).
The Vice President said the global halal economy had expanded beyond food and beverages to encompass Islamic finance, pharmaceuticals, cosmetics, tourism, logistics, manufacturing and digital commerce.
He said Nigeria possessed the resources and market strength required to compete for a significant share of the expanding global market, particularly with its population, agricultural and livestock resources, entrepreneurial private sector and strategic position within Africa.
According to him, President Bola Ahmed Tinubu’s administration views the halal economy as a significant component of its Renewed HopeAgenda, particularly its objectives of economic diversification, non-oil export expansion and job creation.
Shettima recalled that the Nigeria Halal Economy Strategy Implementation Committee was inaugurated on March 3, 2026, with a mandate to coordinate the development and implementation of the national strategy.
He said the committee’s four workstreams had been activated, while the Secretariat had consolidated its implementation plan into 13 delivery clusters with defined milestones and a target of mobilising more than $12 billion in investment.
The Vice President added that theFederal Government had taken theinitiative to the National EconomicCouncil, while Osun, Katsina andKano States had indicated interest indomesticating the strategy at thesubnational level.
He disclosed that Nigeria was alsodeepening international partnerships,including engagements with theIslamic Development Bank, the ArabBank for Economic Development inAfrica (BADEA), the D8 Halal Forumand other international institutions.
Shettima further said proposals were being considered for Nigeria’s Halal Accreditation and Verification Platform to serve as a model for thecontinent, while discussions were also advancing on establishing a regional capacity building centre in Nigeria in collaboration with international partners.
He said the Federal Government was working to present the Governance Framework, National Halal Mark, Halal Accreditation and VerificationPlatform and related fees.architecture to the Federal Executive Council.
The Vice President, however, warned that policies and partnerships would have little impact without actual businesses, investments, exports and jobs, stressing that the private sector must remain at the centre of the halal economy.
He urged manufacturers, financial institutions, logistics operators, farmers, tourism businesses and technology entrepreneurs to view halal certification, traceability and conformity assessment as instruments for accessinginternational markets rather than as regulatory burdens.
Shettima also identified non-interest financing as an important component of the strategy, citingNigeria’s experience with Sukuk as evidence that alternative financing instruments could be deployed at scale to support infrastructure andproductive economic activity.
Earlier, the Managing Partner of The Metropolitan Law Firm and Coordinator of the Lagos Halal Leadership Reception, Ummahani Ahmad Amin, said the gathering was designed as a policy and stakeholder engagement platform rather than acommercial event.
She said Nigeria needed stronger coordination between government, regulators, investors, financial institutions, businesses and professional bodies to transform the country’s enormous halal potential into sustainable economic value.
In his opening address, the National President of NACCIMA and member of the Board of Directors of ICCD, Engr. Dr Jani Ibrahim, said Nigeria must move from discussing the potential of the halal economy to implementing policies that woulddrive investment, trade and market access.
Ibrahim said NACCIMA would work with government and relevant stakeholders to position Nigerian businesses to benefit from emergingopportunities, stressing that halal should be regarded as a trade and investment opportunity rather than merely a certification issue.
The Secretary General of ICCD, Sheikh Yousef Hassan Khalawi, said Nigeria had an opportunity to secure a much larger share of the global halaleconomy, which he described as one of the world’s fastest growing economic sectors.
Khalawi highlighted Nigeria’s dominant position in shea butter production, arguing that the countryshould capture greater value by developing local processing, branding and manufacturing capacity instead of exporting raw materials.
He said Nigeria’s challenge was not simply to increase production but to ensure that the economic value generated from its resourcesreflected its production strength, noting that local industries would be critical to achieving that objective.
Delivering the vote of thanks, the President of the Non Interest Financial Institutions Association of Nigeria (NIFIAN) and Chairman of Arthur Group, Dr Basheer Oshodi, said Nigeria’s non-interest financeindustry was ready to provide the financial architecture required to support the country’s halal economy strategy.
Oshodi said the industry had evolved beyond an emerging sector, citing Nigeria’s non-interest banking framework, Sukuk market and growing Islamic finance ecosystem as evidence of its capacity to support investment, manufacturing, exports and financial inclusion.
He called for closer coordination between financial regulators, standards bodies and halal institutions to ensure that Nigeria developed an integrated ecosystem capable of financing production fromthe factory floor through to international markets.
Oshodi said the ultimate test of Nigeria’s halal strategy would be measurable outcomes, includingexport-ready Nigerian companies, increased investment in manufacturing and processing, stronger international market access and more jobs for Nigerians.
The event brought together senior government officials, regulators, financial institutions, investors,manufacturers, exporters, diplomatic representatives and business leaders, with participants emphasising the need to convert Nigeria’s halal economy ambitions into bankable projects, stronger institutions and increased trade.
The speakers agreed that Nigeria’s competitive advantage would depend not merely on its population or natural resources, but on its abilityto build credible standards, mobilise capital, develop local industries and create globally recognised Nigerian halal brands.
