The Halal industry is worth over 3 trillion dollars and represents one of the most promising sub-sectors of global finance.
With an estimated 1.8bn Muslim consumers or a fourth of the world’s population, the Halal market has sizeable growth potentials.
Emerging demographics suggest that industries are quickly picking up on the trend and are tailoring their approaches to reaching this burgeoning market.
However, with a Muslim population of roughly 50%, Nigeria is yet to take firm advantage of the opening opportunities in the Halal market.
According to the Abuja Chamber of Commerce and Industry (ACCI), the decision to sponsor an international Halal Expo between the 14th and 16th of September 2021 was to improve access of the Muslim community to products and services guided by Islamic Sharia principles.
The ACCI organises the Expo with partners from Nigeria, Turkey, India, Malaysia, Indonesia, Egypt, Tunisia, Morrocco, UAE, Saudi-Arabia, and the other D8 countries.
The Halal Expo Nigeria would feature over 70 companies in a variety of businesss ranging from food and beverages, cosmetics, clothing, literature, Tourism and the Hotel, Restaurant and cafe Industry.
Over 22 distinguished Speakers in the Halal Industry from 10 Different Countries will also be participating in the Conference session of the Expo.
The Halal Expo Nigeria will cover multiple sectors of the Halal industry, ranging from Halal Food, pharmaceuticals, Tourism, literature, manufacturing, arbitration, banking and Finance, Investment, fashion and Cosmetics.
The essence of the Halal Expo Nigeria was to create awareness about the Halal Industry in Nigeria. Many Nigerians are yet to be aware of the strategic importance of the Halal Industry, especially to the economy.
The Expo would bring to the knowledge of stakeholders, including the government, the need to key into this opportunity.
The Association noted that Nigeria had the potential to be a significant player in the industry, and that the best way to open up the market and create awareness was through Trade promotions such as Expos, conferences and strategic B2B, B2G and G2G meetings which is what the Halal Expo Nigeria 2021 is all about.
It is also to increase Nigeria’s presence in the Halal global ecosystem. As a nation with over 100m Muslims which is the largest in West Africa with a potential growth rate of 2.5% annually, it is imperative that we put the Nigeria Halal Industry on the Global Map and position Nigeria as a hub for Halal activities, not Just in West Africa but the whole of the African Continent.
The ACCI has commenced the process, with the Islamic development bank, MATRADE, HDC, and other top organisations that could assist with integrating Nigeria into the Global Halal Ecosystem.
The Halal Expo Nigeria 2021 aims to harmonise all the various Halal certification bodies into one government recognised institution.
According to the ACCI, the event The Halal Expo Nigeria will create job opportunities for over 5% of the unemployed youths in various sectors such as clothing, cosmetics, pharmaceuticals, the Tourism and HORECA industry, same as food and the packaging industry, literature and other forms of Halal living.
The Chambers said it would expect participation from companies in food processing and packaging, agricultural equipment to aid Halal Food, Halal cosmetics, clothing, literature, pharmaceuticals, Halal home textiles.
The Halal Expo Nigeria will further expand the already existing scope of Bilateral Trade and economic relations.
The Halal Expo Nigeria is opening up a new industry with a massive potential of over USD 50 Billion Annually across all sectors.
The Chamber noted that the Expo was an opportunity for its international partners, such as Malaysia, Turkey, Indonesia, to provide leadership and a pathway for the Halal Industry in Nigeria.
Ten countries had taken their places at the forthcoming Expo; the ACCI said it hoped that other countries would use the opportunity to improve the volume of trade between them and Nigeria.
ACCI called on all stakeholders not to wait to see how things work out
. According to the trade association, the market is vast, ripe and ready to welcome every investor and the business community.
There are opportunities in the dairy industry, the Halal Slaughter, HORECA, Tourism, Agriculture and food packaging.—Proshare