On April 27, 2023, Dar Al Halal Nigeria Limited gathered members of Nigerian ministries, royal families, and leaders of industry as well as #OIC institutions to talk about the 2023 #Nigeria Halal Markets Opportunity & Prospects Report in Transcorp Hilton, Abuja – Nigeria. This event was attended online by Islamic Organization for Food Security and its subsidiary, International Islamic Food Processing Association (IFPA).
According to the Report produced by DinarStandard and presented by its CEO, Mr. Rafi-uddin Shikoh, Nigeria’s #halal market has a tremendous opportunity for the country to establish itself as a leading player in the industry, both domestically and internationally. Domestically, Nigeria is among the top halal consumer markets in the world, with Muslim spending across halal products and lifestyle sectors equal to US$107 billion, making it the eighth largest in the world. In terms of international trade, Nigeria ranks 11th in Africa for halal product exports, with food accounting for 98% of total exports. Furthermore, Nigeria is a leader in Islamic finance, having issued the most sukuk in Africa, totaling US$41.6 billion. The study intends to give policymakers, investors, and industry leaders with an outline for capitalizing on opportunities and mitigating challenges faced by the halal sector in Nigeria.
H.E. Prof. Yerlan Alimzhanuly Baidaulet, DG of IOFS and Chairman of IFPA provided a keynote speech emphasizing the importance of supporting Dar Al Halal Limited’s exceptional effort that would have an impact on improving Nigeria’s food security, which is currently challenging. His Excellency also highlighted that Nigeria’s government and businesses should focus on boosting trade, logistical infrastructure, regulatory and policy, quality, and so on. IOFS fully supports Dar Al Halal Nigeria Limited in its initiatives to expand the Halal market and will contribute to the development of the meat sector.
H.E. Mrs. Zainab Shamsuna Ahmed, Nigerian Minister of Finance, Budget and National Planning, Dr. Mansur Muhtar, Vice President #IsDB, H.E. Mrs. Latifa El Bouabdellaoui, DG of #ICDT, Mr. Nasir Muazu Adamu, Executive Director, Governmental Affairs and Policy also presented keynote speeches during the occasion and Mr. Muhammadu Dikko Ladan, CEO of Dar Al Halal Nigeria Limited, delivered the closing remarks.