Halal Expo boosts Nigeria’s market share of the global Halal industry by $50bn, aiming for $150bn

Technology News

By Franklin Alli

The Abuja Chamber of Commerce and Industry (ACCI) , and  the Abuja  Trade  Center (ATC) say that local industries can further up the country’s market share of the global Halal Industry from the current $50 billion to $150 billion.

” The Halal business is worth over $4 trillion, and Nigeria is currently doing about $50 billion worth of trade in the Halal industry. The annual International Halal Expo has the potential to attract over $150 billion investment into the Nigerian economy,” said the president, ACCI, Dr. Al-Mujtaba Abubakar.

He told newsmen  during a virtual press conference to herald this year’s edition of the expo coming up on the 14th to 16th of September, 2021 in Abuja.

,” Nigerian companies, especially in the cosmetic, pharmaceutical and tourism sectors, should take advantage of the opportunity  being offered by the platform to export quality products to the Middle East countries.

” The  Halal business also covers all assets of commerce, banking, production where Nigerian companies can take advantage of to forge new businesses.

“We are already in touch with so many organisations in Taiwan, Malaysia, Jordan Morrocco and Algeria,” he said.

The Executive Director, Abuja Trade Centre (ATC), Jude Chime, said that the $50 billion trade by Nigerian companies are majorly in the beverage and food industry.

He pointed out that a whole lot of foreign companies in the Middle East are seeking ways to enter the Nigerian market not just to bring in their products, but also expanding their manufacturing activities in the country.

The first Deputy president, Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Dele Oye, said the Halal expo is about promoting trade and investments taking cognizance of religion to reach a wider market.

Halal Certifications

The current Chairman, Halal Certification Authority, Dr. Ibrahim Oreagba, said Halal fair is about promoting products that are permissible and wholesome for food safety and quality.

“We are excited about this fair because it will be promoting Halal certified products and it is important we understand the concept of Halal which means permissible. It simply means you are participating in Allah’s activities of eating what is clean to promote good health,” he said.

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