The Halal economy seems to offer many benefits for Nigeria, and Vice President Kashim Shettima has stated that the country is ready to reap these numerous advantages.
However, Nigerians will need to be patient until 2027.
According to Shettima, Nigeria hopes to leverage the opportunities presented by the Halal economy to add $1.5 billion to the country’s GDP by 2027.
Shettima, who attended the Nigeria Halal Economy Stakeholders Engagement Program in Abuja, said the program will open up Nigeria to more investments in the Halal market.
The program, themed “Building A Vibrant Halal Economy: Unlocking Nigeria’s Potential,” took place on Wednesday, September 18.
These investments are expected to help stimulate the country’s economy.
At the event, Shettima outlined the many benefits of the Halal economy.
As he took the podium, the Vice President informed Nigerians that the federal government would capitalize on every opportunity the Halal market offers.
He believes the Halal economy holds vast potential that aligns with the economic agenda of President Bola Tinubu.
Also, Shettima assured Nigerians that the country would develop a comprehensive Halal strategy.
He clarified that Halal has no connection to any religious agenda.
For those unfamiliar with the term, Halal is an Arabic word meaning lawful, permitted, or permissible.
Currently, over one hundred Halal-certified products are being sold in Nigeria.
According to available records, the global Halal economy has reached $7 trillion and is projected to grow to $7.7 trillion by 2025.