Nigeria’s Minister of State for Industry, Trade and Investment, Ambassador Mariam Yalwaji Katagum has expressed the country’s desire to benefit from the global halal market valued at an estimated $2.6 trillion. She made this known at the inauguration of a technical committee on the development of a roadmap and framework for halal product certification in Nigeria.
Ambassador Katagum decried the inability of the country to take advantage of the buoyant market to boost the economy, increase investment in the sector and earn increased foreign exchange. According to her, the global consumer base for halal products globally is 2 billion people and for Nigeria to benefit from this market, there has to be a certification process, identification of all existing certification bodies and ensuring uniformity in the operations.
Halal products have to be processed according to Islamic dietary laws and with half of Nigeria’s population being Muslim, there’s a ready market. However, non-muslims who prefer halal products based on preference and lifestyle choices also make up the $2.6 trillion halal market.
The minister also said “There is clearly an increasing demand for Halal certified products globally, especially, amongst the large Muslim population in the Middle East, North Africa, South Africa, South Asia, the former Soviet Union and China, which presents a lucrative chain for the food market. As at today, the global consumer base of Halal products is estimated to be about 1.9 billion Muslims across 112 countries, and the Halal market is estimated to be worth trillions of US Dollars. We cannot ignore the importance of assuring our local and international consumers that our food and beverage products are Halal certified and comply with Islamic Law.”