Nigeria has signed a cooperation agreement with Saudi Arabia’s Halal Products Development Company (HPDC) to establish itself as a major player in the global halal market, valued at $7.7 trillion.
The agreement, signed on Wednesday at the Makkah Halal Forum in Saudi Arabia, aims to boost investment, technical cooperation, and market access in key sectors such as food production, pharmaceuticals, finance, and livestock.
Vice President Kashim Shettima, represented by Deputy Chief of Staff Senator Ibrahim Hassan Hadejia, described the partnership as a “game-changing opportunity” to position Nigeria as a global halal economy powerhouse.
“This collaboration is an important step in our ambition to not only tap into the lucrative halal market but to establish Nigeria as a leading global player,” Shettima said. “We are committed to leveraging this collaboration to create jobs, attract foreign investment, and diversify our economy in line with President Bola Ahmed Tinubu’s Renewed Hope Agenda.”
The agreement was signed by HPDC’s Chief Executive Officer, Fahad Alnuhait, with Saudi Arabia’s Minister of Commerce, Dr. Majid bin Abdullah Al-Qasabi, and other top officials in attendance.
The partnership is expected to drive economic growth in Nigeria by enhancing halal product standards and creating new opportunities across various industries.
