| By The Authority News

The Muassasat Nasrul Ilm Wa Da’wat Foundation has called upon Muslims to identify and pursue concrete strategies for tapping into the vast opportunities within the halal economy.

The halal economy encompasses far more than food products, representing an entire economic framework and marketplace operating according to Islamic principles and Shariah law. This system extends across numerous industries while maintaining specific ethical standards.

Ibraheem Adigun, serving as National President of the Foundation and organizer of the Muslim Economic Summit (MES 1.0), shared these observations in Lagos on Saturday during the inaugural economic summit. He highlighted that the worldwide halal economy currently holds an estimated value of approximately N7.7 trillion.

The Foundation organized the summit to facilitate strategic discussions on how Muslims can make substantial contributions to national economic development. Adigun expressed strong conviction that the Muslim community possesses considerable resources and expertise to benefit the nation.

The country’s current focus involves diversifying its economy, with government attention shifting from oil-based revenue toward alternative sectors for GDP expansion. The Foundation believes that significant investment in the halal economy could enable Nigeria to access resources from this globally expanding market.

This economic imperative represents one primary motivation for convening the summit. As an organization maintaining regular engagement with society, the Foundation has observed widespread poverty levels and determined that contributing to the nation’s socioeconomic advancement represents a necessary responsibility.

Prior to the summit, the foundation provided training to 375 participants, including Christians, demonstrating that the halal economy functions as an inclusive system rather than an exclusively Muslim domain.

The summit has been designed as an annual gathering, with the foundation aspiring to maintain continuity through its MES Waqf Fund, an Islamic endowment mechanism.

Prof. Ahmad Dogarawa from the Department of Accounting at Ahmadu Bello University in Zaria, Kaduna state, outlined how Nigeria could capitalize on this rapidly expanding market by utilizing several competitive advantages, including its substantial population base.

Nigeria possesses extensive arid territories and varied natural resources while actively seeking foreign investment from the international community. These abundant assets position the country strategically with strong comparative advantages, particularly regarding halal food and beverage production.

The nation’s wealth in oil and livestock resources creates remarkable strategic benefits and economic potential, especially throughout the halal economy value chain.

Dogarawa emphasized that the government’s most vital function involves organizing stakeholder discussions to clarify for the public that the halal economy represents economic opportunity rather than religious conversion or Sharia law implementation. The halal economy centers fundamentally on economic expansion, commercial development, prosperity creation, and investment attraction.

Dr. Ahmad Jebe, Special Adviser to Governor Babajide Sanwo-Olu on Religious Matters, characterized the halal economy as primarily addressing religious considerations during his remarks at the event.

The government must maintain neutrality regarding religious affairs and cannot favor any particular group, though collaboration with all religious communities remains possible. Government participation at religious gatherings serves an important function, and the state remains committed to providing assistance when appropriate.

The halal economy concept emphasizes ensuring that products consumed and economic activities pursued nationally meet appropriate standards and ethical requirements.

Source:

Authority News. (2026). Islamic Foundation urges Muslims to explore practical pathways in halal economy. Authority NGR.
https://authorityngr.com/2026/01/17/islamic-foundation-urges-muslims-to-explore-practical-pathways-in-halal-economy/