Nigeria Moves to Tap $3.5trn Global Halal Economy
Nigeria is taking steps to position itself for a bigger share of the fast growing global halal economy estimated at several trillion dollars in value. The federal government and private sector stakeholders are working together to build structures that will allow the country to benefit from halal trade investment and finance opportunities. President Bola Tinubu earlier this year launched Nigeria's National Halal Economy Strategy in Abuja. The policy is designed to help Nigeria tap into the global halal market valued at about 7.7 trillion dollars by promoting standards certification and investments in halal compliant products and services. According to government projections the strategy could add around 1.5 billion dollars to Nigeria's Gross Domestic Product by 2027 and unlock up to 12 billion dollars in wider economic value over the next decade. Officials say it will strengthen food security deepen industrial […]
