The President of the Abuja Chamber of Commerce and Industry (ACCI), Adetokunbo Kayode has said the organization plans to explore and attract investments in the international Halal economy of $3tn.
At the pre-event briefing for the forthcoming Halal Expo Nigeria, which is taking place in June 2020 at the Abuja Trade and Convention Center, Mr Kayode said the country can’t continue lagging behind in the global halal economy, because of the strong possibility in partnership and collaboration. He also added that this can facilitate significant investment for the needed economic growth in Nigeria.
To advance on this plan, he disclosed that the chamber is willing to support stakeholders and investors, who are open to exploring the opportunities and prospects of the Halal economy for wealth creation.
‘’We are 200 million people and we need to expand our doors and explore global opportunities. For instance, Halal beef is exported globally and it is healthy unlike most often what we get here when people carry meat in Keke and in their shoulders which is unhealthy,’’ Kayode said.
Halal is an Islamic word that stands for permissible when it comes to religious practices. This doctrine entails the morals of religion when creating and preparing products for human consumption.
As a result of the affordable prices of halal products especially in food, the practice has been widely adopted by Islamic and non-muslim countries. The halal diversity also cuts across areas like pharmaceuticals, the food industry, finance, logistics and even recently, tourism.
With the wide acceptance of halal around the world, Nigeria with a population of over 100 million practising Muslims can also leverage on the market with an already existing unique proposition that serves their need.
Also, the prices of halal commodities, majorly in food and pharmaceutical items can help to increase the availability of food items, particularly for low-income earners in the country.
Although there is still a poor perception of halal products as unfit for consumption due to the religious tag on them, so far this has affected the consumption of the commodities in the market.
Unfortunately, people often neglect the fact that halal commodities pass through the same regulations with non-halal or regular products in the market, which make them safe for the general public regardless of the religious clause.
To tackle the halal stigma, a feasible solution may be a strategic partnership between the government and recognized religious bodies, to create and promote awareness programs on the benefits of halal products and policies within the country.
