Halal economy offers Nigeria trillion-dollar opportunity, says consultant

By Oluwatope Lawanson

Lagos, Nov. 2, 2025 (NAN) – Nigeria’s National Halal Economic Strategy is a bold and inclusive framework that could transform the nation’s economic landscape, according to Mr. Adeyemi Aseperi-Shonibare, an integrated marketing consultant and CEO of PRIMAA Productions.

In an interview with the News Agency of Nigeria (NAN) on Sunday in Lagos, Aseperi-Shonibare described the strategy as a major step toward diversifying Nigeria’s economy, enhancing investor confidence, and positioning the country as a key player in the global halal market, currently valued at $7.7 trillion.

The Federal Government, in February, signed a cooperation agreement with Saudi Arabia’s Halal Products Development Company (HPDC) to drive Nigeria’s participation in the booming global halal economy. Halal production is based on Islamic principles, ensuring goods and services comply with Shariah law.

Economic Opportunities Beyond Religion

Aseperi-Shonibare explained that the halal economy has evolved beyond a religious framework into a multitrillion-dollar global industry encompassing food, pharmaceuticals, cosmetics, fashion, logistics, and hospitality. Halal-certified products have gained wide acceptance in advanced economies such as the United Kingdom, the United States, Canada, and Australia.

He emphasised that halal certification represents quality assurance, not religious adherence, noting: “Halal is not about changing religion; it is about raising standards and promoting excellence in production.”

According to him, Nigeria, with its large population and rich agricultural resources, must actively participate in this expanding market. The strategy, if implemented effectively, could open new investment opportunities in agriculture, manufacturing, finance, and tourism.

Boosting Industrial Reputation and Export Markets

Aseperi-Shonibare highlighted that adopting halal standards would enhance Nigeria’s industrial reputation and improve access to global markets. Halal certification, he said, is comparable to organic or vegetarian labeling, focusing purely on quality, traceability, and trust.

He urged Nigerians to embrace the economic opportunities, saying: “Eating halal bread does not change anyone’s religion, just as eating vegetarian food does not make one a vegetarian.”

Job Creation and Youth Empowerment

The consultant outlined the potential for job creation across farming, processing, packaging, certification, logistics, and hospitality sectors. He pointed to successful models in Malaysia, Indonesia, and Saudi Arabia, which have integrated halal principles into national economic planning.

The global halal economy, valued at over three trillion dollars, continues to expand rapidly. Aseperi-Shonibare identified five pillars critical to success: credible certification, compliant infrastructure, export development, tourism, and halal finance. Strengthening these pillars in Nigeria, he said, would attract investors, boost exports, and elevate product credibility.

Leveraging Nigeria’s Agricultural Strengths

Nigeria’s agricultural exports, including beef, poultry, cocoa, shea products, spices, and grains, could easily meet international demand under proper halal certification. He noted that certification would enable Nigerian goods to penetrate markets in GCC countries, North Africa, Europe, and Southeast Asia, while opening doors for Nigerian brands in international supermarkets.

Call for Collaboration and Transparent Implementation

Aseperi-Shonibare urged collaboration between federal and state governments, regulatory bodies, and private investors to build testing laboratories, logistics facilities, and certification systems nationwide.

He stressed the need for swift implementation, transparency, and stakeholder engagement: “The world will not pause while Nigeria hesitates; action must replace delay.”

A Route to Inclusive Prosperity

In conclusion, the consultant said the halal economy offers Nigeria a practical route to industrial growth, job creation, and national development: “Let us choose prosperity over suspicion and action over hesitation. The world is open for business, and Nigeria must be too.”

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Reporting by Naija247news in Lagos, Nigeria.