SPECIAL REPORT: Antimicrobial resistance crisis heightens in Nigeria, other countriesHaja Kadie Bangura : a tribute, By Yusuf BanguraSPECIAL REPORT: Antimicrobial resistance crisis heightens in Nigeria, other countriesHaja Kadie Bangura : a tribute, By Yusuf BanguraHe said the nation’s economic and demographic size puts it in a vantage position to map out a vibrant investment sector for the global halal economy projected to reach a market value of $7.7 trillion by 2025.
The Vice President commended the private sector for its immense “contributions to driving the halal economy, particularly in the financial sector”, even as he encouraged all stakeholders to partner with the administration of President Bola Tinubu in delivering the halal ecosystem. “With the global halal economy projected to reach a market value of $7.7 trillion by 2025, this opportunity is not only recognised by Muslim-majority countries but also seized by non-Muslim nations, which have become leading exporters of halal products. They understand that the halal ecosystem is designed to meet the highest standards of quality, safety, and sustainability preferred by specific consumers.
He continued: “They seek secure products and services that align with the principles of transparency and ethical certainty, free from interest-driven practices. We must, however, note that Nigeria has already embraced the halal economy. Also, Special Assistant to the President on Export Expansion, Aliyu Sheriff, highlighted halal economic potential, noting that “if we can increase our halal exports to the Organization of Islamic Cooperation countries from 2 per cent to 6 per cent over the next four years, it could boost our GDP by $548 million.”
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said, “Halal products are not just for Muslims. There are over 125 products that are produced in the Halal way. This presents a huge opportunity for rapid growth and improved competitiveness, enhancing our ability to export.”