Senate Committee Praises Tinubu’s National Halal Economy Strategy as Multi-Trillion Dollar Opportunity

The Senate Committee on Finance has applauded President Bola Ahmed Tinubu for launching Nigeria’s National Halal Economy Strategy, calling it a forward-looking policy designed to integrate the country into the global halal market, valued at approximately $7.7 trillion.

In a statement issued by its Chairman, Senator Sani Musa, the committee described the strategy as a timely and strategic step that aligns with international economic trends. It highlighted that several nations—including the United Kingdom, Canada, Australia, Malaysia, Indonesia, Saudi Arabia, the United Arab Emirates, Turkey, Brazil, Thailand, and Singapore—have successfully developed halal economies, strengthening sectors such as agriculture, manufacturing, finance, and exports.

The committee pointed to Nigeria’s inherent strengths—including abundant agricultural resources, a large domestic consumer base, a youthful population, a growing manufacturing sector, and an expanding services industry—as key foundations for harnessing the potential of the halal economy.

According to the statement, the initiative dovetails with the Tinubu administration’s wider economic agenda, which aims to diversify Nigeria’s export base, increase non-oil revenue, generate employment, empower small and medium enterprises (SMEs), and enhance foreign exchange earnings.

“This strategy is not just about certification of products; it is about positioning Nigeria as a major player in one of the world’s fastest-growing economic ecosystems,” Senator Musa noted. “It will open new export channels, attract foreign investment, and create countless jobs across value chains.”

The National Halal Economy Strategy was officially unveiled by President Tinubu, represented by Vice President Kashim Shettima, on Thursday, February 6, 2026, at the Presidential Villa in Abuja. The framework encompasses halal certification standards, regulatory guidelines, and support systems for Nigerian producers and service providers seeking access to domestic and international halal markets.

The global halal industry extends beyond food and beverages to include pharmaceuticals, cosmetics, finance, logistics, and tourism, representing a comprehensive economic system grounded in Islamic principles. With Nigeria’s large Muslim population and productive capacity, the strategy is viewed as a vital tool for sustainable economic growth and integration into global trade networks.