The Senate Committee on Finance has commended President Bola Ahmed Tinubu for launching Nigeria’s National Halal Economy Strategy, describing it as a bold and strategic initiative to position the country within the global halal market, currently valued at an estimated $7.7 trillion.
In a statement signed by its Chairman, Senator Sani Musa, the committee said the initiative was timely and aligned with global best practices, noting that countries such as the United Kingdom, Canada, Australia, Malaysia, Indonesia, Saudi Arabia, UAE, Turkey, Brazil, Thailand, and Singapore have successfully leveraged halal frameworks to boost manufacturing, agricultural exports, financial services, and foreign investment.
The committee highlighted Nigeria’s strong fundamentals, including its vast agricultural resources, large domestic market, youthful population, expanding manufacturing base, and growing services sector, as key drivers that could make the halal economy strategy successful. It added that the strategy complements the Tinubu administration’s broader economic reforms, particularly efforts to diversify exports, increase non-oil revenue, create jobs, support SMEs, and strengthen foreign exchange earnings.
The National Halal Economy Strategy was officially unveiled on Thursday, February 6, 2026, at the Presidential Villa, Abuja, with Vice President Kashim Shettima representing President Tinubu.
The Senate committee urged stakeholders to fully support the initiative to ensure Nigeria maximizes its potential in the global halal market.
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