Nigeria Eyes Multi-Trillion-Dollar Halal Market Through Saudi Partnership
The Federal Government has reaffirmed its commitment to making Nigeria Africa’s leading halal economy by attracting Saudi Arabian investors, expanding exports, and leveraging opportunities within the African Continental Free Trade Area (AfCFTA).
The Special Adviser to the President on Export Expansion and Secretary of the Nigerian Halal Economy Strategy Implementation Committee, Aliyu Bunu Sheriff”, disclosed this while speaking with journalists on the sidelines of a Nigeria-Saudi investment engagement.
Sharif described the visit of Saudi investors as a major step toward strengthening bilateral economic relations, noting that it would enable both countries to explore investment opportunities and establish mutually beneficial business partnerships.
He said the Federal Government is committed to sustaining the business relationships created through the engagement by providing the necessary support for investors interested in establishing operations in Nigeria.
According to him, Nigeria is already implementing a comprehensive Halal Economy Strategy aimed at positioning the country as Africa’s leading hub in the rapidly expanding global halal industry.
He explained that the strategy is designed to help Nigeria tap into the multi-trillion-dollar global halal market by leveraging its vast agricultural, manufacturing, and export potential.
Sharif also highlighted the importance of the African Continental Free Trade Area (AfCFTA), which provides access to a market of more than 1.3 billion consumers. He said Nigeria intends to maximize this opportunity to become the preferred gateway for halal products and services across Africa and beyond.
The presidential adviser assured prospective investors that the government is creating an enabling environment by ensuring they can meet all regulatory and operational requirements necessary to establish businesses in Nigeria.
He, however, stressed that Nigeria’s investment drive is based on mutually beneficial partnerships rather than one-sided arrangements.
“Nigeria is willing and able to work with investors to ensure they meet all the requirements necessary to set up here. It is not about getting aid or one-way investment. It has to go both ways. The idea is to ensure we all present the comparative advantage of both countries and see how we can utilise the opportunities that this partnership presents,” Sharif said.
He further described diaspora-led initiatives as critical platforms for connecting buyers and sellers, promoting cross-border investments, and strengthening commercial ties between Nigeria and strategic international partners.
Sharif expressed confidence that the growing collaboration between Nigeria and Saudi Arabia would accelerate investment inflows, expand export opportunities, support economic diversification, and reinforce Nigeria’s ambition to become Africa’s foremost halal economy.
