Kano Emir, Finance Minister, Others Highlight Halal Market Opportunities

The emir of Kano, His Royal Highness, Alhaji Aminu Ado Bayero, minister of finance, budget and national planning, Zainab Shamsuna Ahmed and other stakeholders have expressed the need for Nigerians to take advantage of the huge opportunities created by the emerging halal industry.

Speaking at the launch of the 2023 Nigeria Halal Markets Opportunity and Prospects Report in Abuja yesterday, which was produced by Dar Al Halal in partnership with DinarStandard, the participants agreed that the Halal market can boost economic growth in the country.

The Halal report provides a comprehensive view of Nigeria’s Halal Markets Opportunities and a roadmap to unlock its full potential.

In her opening remarks, the minister of finance, Ahmed said the Hala market remains a strategic economy for the overall economic development of our country Nigeria.

“The reality of getting the Hala economy to contribute even more significantly to the Nigeria economy and to make this a reality government needs to create the right regulation and the enabling environment for entrepreneurs, organisations, associations and accreditation bodies to support the entire value chain.

“It is one of the fastest growing markets in global economy today. The reports being released today aims to empower government entities, industries and investors to grow Nigeria’s presence in the global Hala economy and increase consumers awareness and foster partnerships to help Nigeria tap into Hala economy opportunities,” added.

The emir of Kano, Aminu Ado Bayero said the Halal economy presents an opportunity for businesses and investors in the growing demands for Halal products and services in Nigeria.

“One of the key benefits of Halal market in Nigeria is the potential for job creation and economic growth. As businesses and investors enter the Halal market, they will create employment opportunities for Nigerians especially in the agriculture, food processing, and logistics sectors.

“In addition to job creation and economic growth, the Halal market in Nigeria also presents an opportunity for businesses to expand their customer base and reach new market.

“By investing in the Halal market in Nigeria, businesses and investors can play pivotal roles,” he said.

Presenting the report findings, CEO, DinarStandard, Rafi-uddin Shikoh, said  Nigeria is the second largest consumer market for Hala products and services in Africa and the launch, according to him presented an opportunity for the country to attract foreign investors.

“It has been tried and tested successfully. There’s a lot of room to drive export growth through this,” he said.

The CEO of Dar Al Halal Nigeria, Dikko Muhammadu Dikko Ladan, said the purpose of the report was to prepare a comprehensive view of the market opportunities for Nigeria and the roadmap, to build awareness amongst all stakeholders -government, public as well as industries to realise the potential that this has for Nigeria.