When Nigeria first introduced Islamic banking more than a decade ago, a section of the public, especially some Christian leaders, cried foul. They labelled it an attempt to Islamise the nation. The word Islamic became synonymous with suspicion. Yet, history has since given its verdict. The same Islamic banking and finance that was once denounced as a tool for religious expansion has now become one of the most credible components of Nigeria’s financial system. Today, the government of Nigeria, regardless of faith or political party, routinely issues Sukuk (Islamic bonds) to finance national infrastructure, build roads, and other developmental projects.
If Islamic banking did not Islamise Nigeria, how on earth will the halal economy, a trade-based development initiative, suddenly do so?
It is unfortunate that some commentators continue to see through the fog of prejudice rather than the lens of global economics. The recently developed Nigeria National Halal Economy Strategy is not a religious project. It is an economic vision. It seeks to position Nigeria within a rapidly expanding global market that respects ethics, transparency, environmental responsibility, and product integrity; values shared by all civilisations, not by Muslims alone.
Globally, the halal economy is estimated at USD 2.3 trillion, excluding Islamic finance. It is growing at an annual rate of around 20 per cent, making it one of the fastest expanding consumer markets in the world, valued at about USD 560 billion every year. The halal industry, originally rooted in food and beverages, has long transcended its traditional boundaries. It now spans pharmaceuticals, cosmetics, health products, toiletries, medical devices, and even service sectors such as logistics, marketing, media, packaging, branding, and finance. With rising affluence and awareness among global consumers, it has further extended to halal tourism, hospitality, fashion, and lifestyle services.
This development is not driven by Muslims alone. Indeed, the modern halal market is non-exclusive. Increasingly, non-Muslim consumers associate halal with ethical consumerism, animal welfare, environmental stewardship, and quality assurance. The label “halal” has evolved into a global mark of trust; symbolising cleanliness, safety, and ethical production.
Countries far removed from Islam; the United States, the Netherlands, Russia, China, and South Africa, are already major players in the halal economy. In the United States, the halal market is worth USD 12 billion annually, with sales of halal food growing more than 70 per cent since 1995. Over 90 per cent of U.S. dry dairy ingredient manufacturers now produce halal products, mostly for export.
In the Netherlands, where Muslims are barely a tenth of the population, non-Muslim Dutch consumers spend approximately USD 3 billion annually on halal food. In the United Kingdom, six million people consume halal meat; three times the Muslim population. These figures prove one thing: halal has gone mainstream. Even Russia is experiencing explosive growth in its halal sector, with domestic demand rising between 30 and 40 per cent annually. The country now produces around 65,000 tonnes of halal meat each year and hosts major expos like Moscow Halal Expo and KazanHalal.
China, with its 23 million Muslims, records 10 per cent annual growth in its halal industry, with trade worth USD 2.1 billion and export products valued at USD 10 million annually from the Ningxia region alone.
Africa, too, is awakening to this opportunity. South Africa—with only two per cent of its population being Muslim—is now one of the five largest producers of halal products globally, thanks to a robust certification infrastructure. Kenya, with a fast-growing halal certification regime, has more than 150 certified companies already servicing local and regional markets.
Nigeria, with its vast agricultural resources, strategic location, and large Muslim population, stands at the crossroads of opportunity. The halal economy offers three immediate advantages:
1. Export Expansion: By developing credible halal certification and production infrastructure, Nigeria can unlock access to markets worth over USD 2 trillion, exporting beef, poultry, processed foods, cosmetics, pharmaceuticals, and other halal-compliant goods. Nigerian products can enter Middle Eastern and Asian markets that strictly demand halal certification.
2. Job Creation and SME Growth:The halal economy stimulates employment across value chains—from farm to factory, logistics, certification, branding, and export marketing. It empowers micro and small enterprises while ensuring compliance with ethical standards that appeal to both local and international consumers.
3. National Image and Ethical Standards: Halal certification ensures higher hygiene, traceability, and environmental protection. It is compatible with international standards like ISO and HACCP, thereby enhancing Nigeria’s global competitiveness. In essence, promoting halal is promoting quality, sustainability, and integrity—values that no religion should reject.
The critics who fear the halal roadmap as a step toward Islamisation fail to recognise that halal is an economic term before it is a theological one in this context. It stands for what is wholesome, safe, clean, traceable, and socially responsible. These values are not confined to Islam. They are embedded in Christianity, Judaism, and secular ethics alike.
The halal economy represents a fusion of faith and fairness, ethics and enterprise. It provides a model for a more responsible economic system—precisely the kind of moral economy the world craves in the aftermath of global financial and environmental crises.
When the debate over Islamic banking first arose, the same fear mongering dominated the headlines. Yet, today, Islamic finance has built roads, schools, and hospitals across Nigeria through Sukuk and other Shari’ah compliant financing. Christian engineers, contractors, and civil servants have benefitted immensely. The country’s Christian-majority states have received as much as the Muslim ones. No mosque was built, no church destroyed, and no constitution rewritten.
If Islamic banking did not Islamise Nigeria, how will halal exports do so? On the contrary, the halal economy promises to diversify Nigeria’s trade, create jobs, enhance foreign exchange earnings, and promote industrial standards that protect all consumers; Muslims and non-Muslims alike.
Nigeria cannot afford to watch from the sidelines while other nations—Christian, secular, and atheist alike—harvest the fruits of the halal economy. The world is shifting toward ethical consumption, sustainability, and traceable production. The halal brand, far from being divisive, is a passport to global markets.
The Nigeria National Halal Economy Strategy is not about religion; it is about relevance. It is about integrating Nigeria into the trillion-dollar value chain that prizes quality, fairness, and responsibility. Those who see crisis where there is opportunity risk being on the wrong side of history—just as those who once opposed Islamic banking and finance, now benefit from Sukuk-financed roads.
The celebration of the halal economy is not the planting of tomorrow’s crisis; it is the harvest of tomorrow’s prosperity for every Nigerian, regardless of faith. It is time we remove the caps of emotion and prejudice and wear the lenses of reason, tolerance, and progress. Nigeria must embrace every opportunity that promises shared prosperity, job creation, and national development. The halal economy is not about division—it is about direction. It is about placing our nation on the map of global relevance, productivity, and ethical growth. So help us God.
By Abdullahi Abubakar Lamido
Abuja
lamidomabudi@gmail.com
5 Jumada Ula, 1447
(27/10/25)
