Nigeria Eyes $1.5bn Halal Market Revenue By 2027 – FG

Vice President Kashim Shettima said Nigeria has embraced the Halal economy, and is hoping to leverage the opportunities to add the sum of $1.5bn to the country’s GDP by 2027.

Shettima revealed this as he attended the Nigeria Halal Economy Stakeholders engagement program in Abuja on Wednesday.

The program with the theme ‘Building A Vibrant Halal Economy: Unlocking Nigeria’s Potential’ seeks to stimulate Nigeria’s economy by enhancing more investments in the Halal market.

Halal is an Arabic word for lawful, permit or permissible.

There are currently over one hundred Halal-certified products in Nigeria.

According to available records, the global Halal economy has hit $7tn and is projected to grow to $7.7 by 2025.

Shettima further said the federal government will explore the opportunities that the halal market offers.

According to him, the Halal economy holds vast potential that aligns with the economic agenda of President Bola Tinubu.

He noted that Nigeria will target high level markets by developing a comprehensive Halal strategy.

He, however, noted that Halal has no relationship with any religious agenda.