The Federal Government of Nigeria has signed a Memorandum of Understanding (MoU) with Saudi Arabia’s Halal Products Development Company (HPDC) to position Nigeria as a leading player in the global Halal market. The agreement was formalized during the Makkah Halal Forum in Saudi Arabia, marking a significant step toward transforming Nigeria into a global Halal economy powerhouse.
Vice President Kashim Shettima, represented by the Deputy Chief of Staff to the President, Senator Ibrahim Hassan-Hadejia, emphasized the transformative potential of the partnership. “This collaboration represents a game-changing opportunity to harness Nigeria’s vast resources and capabilities in the Halal industry,” he stated during the signing ceremony.
The MoU was executed with HPDC, a subsidiary of the Saudi Public Investment Fund, represented by its Chief Executive Officer, Fahad AlNuhait. The partnership aims to leverage Nigeria’s agricultural and industrial potential to produce and export Halal-certified products, tapping into the rapidly growing global Halal market.
Special Assistant to the President on Export Promotion, Alh. Aliyu Sheriff, highlighted the support of key financial institutions, including the Islamic Development Bank and the Arab Bank for Economic Development in Africa. These institutions will provide capacity building, regulatory framework development, and financing opportunities to ensure the initiative’s success.
The agreement underscores Nigeria’s commitment to diversifying its economy and expanding its export portfolio. By entering the global Halal market, Nigeria aims to create jobs, boost foreign exchange earnings, and strengthen its position as a key player in the international trade arena.
