FG To Earn $1.5bn Revenue From Halal By 2027

Vice President Kashim Shettima said that the government has embraced the halal economy and plans to take advantage of the chances to raise its GDP by $1.5 billion by 2027.

Shettima made this revelation on Wednesday while he was in Abuja for the Nigeria Halal Economy Stakeholders Engagement Program.

The goal of the initiative, “Building A Vibrant Halal Economy: Unlocking Nigeria’s Potential,” is to increase investments in the halal market in order to boost Nigeria’s economy.

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The Arabic term “halal” means “lawful,” “permitted,” or “permissible.”

Nigeria now has more than a hundred goods with the Halal certification.

According to available records, the global Halal economy has hit $7tn and is projected to grow to $7.7 by 2025.

Shettima further said the federal government will explore the opportunities that the halal market offers.

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According to him, the Halal economy holds vast potential that aligns with the economic agenda of President Bola Tinubu.

He noted that Nigeria will target high level markets by developing a comprehensive Halal strategy.

He, however, noted that Halal has no relationship with any religious agenda.