The Federal Government has taken a bold step toward positioning Nigeria as a key player in the global halal industry by signing a cooperation agreement with Saudi Arabia’s Halal Products Development Company.
This strategic partnership aims to drive investment, technical collaboration, and market access across key sectors, including food production, pharmaceuticals, finance, and livestock.
The PUNCH reported that the agreement was formalized during the Makkah Halal Forum in Saudi Arabia on Wednesday, with Vice President Kashim Shettima describing it as a transformative opportunity for Nigeria.
His remarks were conveyed by Senator Ibrahim Hassan Hadejia, Deputy Chief of Staff to the President (Office of the Vice President), at the event.
“This collaboration is an important step in our ambition to not only tap into the lucrative halal market but to establish Nigeria as a leading global player. We are committed to leveraging this collaboration to create jobs, attract foreign investment, and diversify our economy in line with the Renewed Hope Agenda of President Bola Tinubu,” Shettima stated.
A statement from the Vice President’s Senior Special Assistant on Media and Communication, Stanley Nkwocha, highlighted the agreement’s significance in expanding Nigeria’s role in the $7.7 trillion global halal economy.
The signing was attended by top officials, including HPDC CEO Fahad Alnuhait, Saudi Minister of Commerce Dr. Majid bin Abdullah Al-Qasabi, Chairman of the Makkah Halal Forum’s Organising Committee His Excellency Mr. Fawaz bin Talal Al-Harbi, and Chairman of the Makkah Chamber of Commerce and Industry, His Excellency Mr. Abdullah bin Saleh Kamel.
Aliyu Sheriff, Special Assistant to the President on Export Promotion, noted that this agreement builds upon Nigeria’s growing Islamic finance sector, which has successfully implemented Sukuk bonds for infrastructure projects and fostered the establishment of Islamic banks such as Jaiz Bank, Taj Bank, and Lotus Bank.
He further emphasized that the initiative will receive support from institutions such as the Islamic Development Bank and the Arab Bank for Economic Development in Africa, which will assist in regulatory development, capacity building, and financing.
“This agreement aligns perfectly with the Renewed Hope Agenda by creating new jobs, attracting foreign direct investment, and diversifying our economy. The halal economy extends beyond Muslim consumers. Non-Muslim majority countries like Brazil, Australia, and Thailand are already leveraging the sector for substantial export growth,” Sheriff explained.
Nigeria’s delegation to the forum included high-ranking officials such as the Chairman of Dar Al Halal Group, Alhaji Muhammadu Ladan Dikko; Dr. Mansur Muhtar, Chairman of the Board of Directors at the Bank of Industry; Minister of Trade and Investment Dr. Jumoke Oduwole (represented by Nura Rimi); Minister of Foreign Affairs Yusuf Tuggar (represented by Mahmoud Lele); and Hajiya Amina from the Standard Organization of Nigeria.
Also present were the Chairman of the Nigeria-Saudi Chamber of Commerce, Ibrahim Usman; Minister of Finance Mr. Wale Edun (represented by Nur Muftau Baba Ahmed); CEO of the Nigeria Export Promotion Council, Mrs. Nonye Aneyi (represented by Mustapha Aminu); Deputy President of NACCIMA, Jani Ibrahim; and Managing Director of the Bank of Industry, Mr. Olasupo Olusi (represented by Mrs. Jelilat Ismaila-Ayinde).
This partnership aligns with Vice President Shettima’s earlier remarks at the Halal Economy Stakeholders Engagement Programme in Abuja last September, where he emphasized the sector’s economic potential.
He projected that increasing Nigeria’s halal exports to OIC markets from 2% to 6% could boost the country’s GDP by $540 million, with strategic import substitution potentially adding nearly $1 billion by 2027.
