By Senator Iroegbu
The Federal Government has set a target of mobilising more than $12 billion in investment as Nigeria seeks to position itself as a major player in the estimated $7 trillion global halal economy.
The government said it would leverage Nigeria’s large consumer market, agricultural and livestock resources, manufacturing capacity, entrepreneurial private sector and strategic position within the African Continental Free Trade Area (AfCFTA) to expand production, exports and job creation.
Vice President Kashim Shettima disclosed this on Wednesday at the Lagos Halal Leadership Reception 2026, held at Eko Hotel, Lagos.
Shettima, who was represented by the Minister of State for Budget and Economic Planning, Dr Doris Uzoka-Anite, said Nigeria could no longer afford to remain predominantly a consumer of halal products while other countries captured the greater value generated across the sector.
He said the global halal economy had evolved beyond food and beverages to encompass Islamic finance, pharmaceuticals, cosmetics, tourism, logistics, manufacturing and digital commerce.
According to him, Nigeria has the market size, productive resources and entrepreneurial capacity to secure a significant share of the expanding global market.
He said the Tinubu administration viewed the halal economy as an important component of its Renewed Hope Agenda, particularly its objectives of economic diversification, non-oil export expansion, investment mobilisation 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 a national halal economy strategy.
He disclosed that the committee’s four workstreams had been activated, while the Secretariat had consolidated the implementation plan into 13 delivery clusters with defined milestones and a target of mobilising more than $12 billion in investment.
The Vice President said the Federal Government had also taken the initiative to the National Economic Council, while Osun, Katsina and Kano States had indicated interest in domesticating the strategy.
He added that Nigeria was deepening international partnerships with institutions including the Islamic Development Bank, the Arab Bank for Economic Development in Africa (BADEA) and the D8 Halal Forum.
Shettima further disclosed that proposals were being considered for a Nigerian Halal Accreditation and Verification Platform that could serve as a model for other African countries.
Discussions were also advancing on the establishment of a regional capacity-building centre in Nigeria in collaboration with international partners, he said.
The Vice President said the Federal Government was working to present the proposed Governance Framework, National Halal Mark, Halal Accreditation and Verification Platform, as well as the associated fees architecture, to the Federal Executive Council.
He, however, warned that policies and international partnerships would have limited impact unless they translated into actual businesses, investments, exports and jobs.
The private sector, he stressed, must therefore remain at the centre of Nigeria’s halal economy strategy.
Shettima urged manufacturers, farmers, financial institutions, logistics operators, tourism businesses and technology entrepreneurs to view halal certification, traceability and conformity assessment not as regulatory burdens, but as tools for accessing international markets.
He also identified non-interest financing as a critical component of the strategy, citing Nigeria’s experience with Sukuk as evidence that alternative financing instruments could be deployed at scale to support infrastructure and productive economic activity.
the Board of Directors of ICCD, Engr. (Dr) Jani Ibrahim; The Minister of State for Budget and Economic Planning, Dr Doris Uzoka-Anite represented Vice President, Senator Kashim Shettima and The
Secretary General of ICCD, HE Sheikh Yousef Hassan Khalawi during the Halal 360 Leadership Reception 2026 at Eko Hotel.
Economic Planning, Dr Doris Uzoka-
Anite
Earlier, the Managing Partner of The Metropolitan Law Firm and Coordinator of the Lagos Halal Leadership Reception, Ummahani Ahmad Amin, said the gathering was conceived as a policy and stakeholder engagement platform rather than a commercial event.
Amin stressed the need for stronger coordination among government, regulators, investors, financial institutions, businesses and professional bodies to transform Nigeria’s considerable halal potential into sustainable economic value.
In his opening address, the National President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) and member of the Board of Directors of the Islamic Chamber of Commerce and Development (ICCD), Engr. Dr Jani Ibrahim, said Nigeria must move beyond discussing the potential of the halal economy to implementing policies that would drive investment, trade and market access.
Ibrahim said NACCIMA would work with government and other stakeholders to position Nigerian businesses to benefit from emerging opportunities, stressing that halal should be viewed 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 significantly larger share of the global halal economy, which he described as one of the world’s fastest-growing economic sectors.
Khalawi specifically highlighted Nigeria’s position in global shea production, arguing that the country could capture substantially greater value by developing local processing, branding and manufacturing capacity instead of exporting raw materials.
He said Nigeria’s challenge was therefore not merely to increase production, but to ensure that the economic value generated from its resources reflected the country’s productive strength.
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 finance industry was prepared to provide the financial architecture needed to support the halal economy strategy.
Oshodi said the sector had moved beyond being an emerging industry, pointing to 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 among financial regulators, standards organisations and halal institutions to build an integrated ecosystem capable of financing businesses from production through processing and ultimately into international markets.
According to him, the ultimate test of Nigeria’s halal strategy would be measurable outcomes, including more export-ready Nigerian companies, increased investment in manufacturing and processing, stronger access to international markets and the creation of sustainable jobs.
The reception brought together senior government officials, regulators, financial institutions, investors, manufacturers, exporters, diplomatic representatives and business leaders.
Participants emphasised the need to translate Nigeria’s halal ambitions into bankable projects, stronger institutions, credible standards, increased domestic and foreign investment, and globally competitive Nigerian halal brands.
The consensus was that Nigeria’s competitive advantage in the halal economy would depend not simply on its population or natural resources, but on its ability to build credible certification and standards systems, mobilise capital, develop local value chains, deepen non-interest finance and transform its abundant resources into globally recognised products and brands.