Shettima seeks bigger share of $100bn global Halal market

Vice President Kashim Shettima has called for concerted efforts to transform Nigeria’s over $100 billion domestic Halal market into a major source of exports, investment, jobs, and foreign exchange. Nigeria currently accounts for less than one percent of the global Halal market, despite being the world’s seventh-largest Halal economy. Speaking at the 5th International Halal Seminar in Lagos, Shettima highlighted Nigeria’s potential—its population, natural resources, and consumer demand—but noted that most activities remain informal. He emphasized the need for stronger production, certification, financing, and market access under the National Halal Economy Strategy, aiming to connect Nigerian businesses with buyers in the Gulf Cooperation Council and beyond. The seminar, organized by the Halal and Haram Distinction Development Initiative (HDI), brought together government officials, financial institutions, business leaders, academics, and certification bodies. Prof. Ibrahim Oreagba, Chairman of HDI, commended the Federal Government’s National Halal Economy Strategy, launched in February 2026, which has certified over 130 companies and 600 products across food, pharmaceuticals, cosmetics, logistics, and tourism. He stressed that Halal certification ensures hygiene, safety, and quality beyond religious compliance. Prof. Abiodun Musa Aibinu, Vice Chancellor of Summit University, urged Nigerian SMEs to participate across the Halal value chain, including agriculture, tourism, finance, and technology, to diversify Nigeria’s economy. Stakeholders agreed Nigeria must shift from a domestic-focused model to an export-oriented ecosystem, requiring stronger certification systems, technology, affordable capital, industrial infrastructure, skills development, and international market access. About 13 Halal industrial clusters have been identified under the strategy, with logistics corridors planned to link production hubs to ports and airports.