Tinubu Administration Launches Halal Economy Drive to Boost MSMEs

As part of its economic reforms, the Tinubu administration is building a Halal ecosystem to tap into the fastest-growing sector of the global economy, a senior presidential aide said at the Islamic Development Bank annual meeting. Nigeria is the seventh largest Halal consumer market in the world and second in Africa. Government support will focus on certification, infrastructure, and integrating livestock exports into formal trade. The new initiative will target micro, small and medium enterprises to drive inclusion from the ground up. Officials also highlighted reforms in foreign exchange, oil and infrastructure designed to cut food logistics costs and ease inflation. They praised the Islamic Development Bank for its low-cost, non-interest financing that is strengthening Nigeria’s non-interest banking sector.

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