Nigeria positioned to lead global halal economy, says Vice President Shettima

Nigeria’s Vice President Kashim Shettima has projected the West African nation to become the leading hub of opportunities in the global halal economy.

He cited the Nigeria’s economic and demographic advantages as key factors positioning it to create a thriving investment sector within the global halal market, which is expected to reach $7.7 trillion by 2025.

Speaking at the Halal Economy Stakeholders Engagement Programme held at the Banquet Hall of the Presidential Villa, Abuja, Shettima expressed the need for Nigeria to reassess its weaknesses and capitalize on its strengths to achieve this goal.

“For Nigeria to become a hub of opportunities in the global halal economy, we must prioritize our strengths and reassess our weaknesses,” he stated, adding that the event provided a platform to collaborate with international organizations to build a comprehensive halal ecosystem.

He praised the private sector for its role in driving the halal economy, especially within the financial sector, and urged stakeholders to partner with President Bola Ahmed Tinubu’s administration in developing the halal ecosystem.

Shettima stressed the importance of attracting international investment, saying, “We must attract international investment by showcasing the vast opportunities within Nigeria’s halal sector through investor summits, roadshows, and business matchmaking events.”

“The expansion of regional trade, particularly through the African Continental Free Trade Area (AfCFTA), also provides us with a pathway to become a leading supplier of halal goods and services across Africa.

“Therefore, we must increase public awareness through strategic orientation campaigns, specialised training programmes, and deeper engagement with the global market to elevate the visibility and competitiveness of Nigeria’s halal ecosystem.”