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Nigeria, Saudi Arabia sign agreement to enhance $7.7trn halal economy

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The Nigerian Government entered into a cooperation agreement with Saudi Arabia’s Halal Products Development Company (HPDC) on Wednesday, with the objective of establishing Nigeria as a prominent participant in the global halal market, currently valued at $7.7 trillion.

This agreement is expected to promote investment, enhance technical cooperation, and provide market access in essential sectors, including food production, pharmaceuticals, finance, and livestock for both countries.

At the signing ceremony at the Makkah Halal Forum in Saudi Arabia, Vice President Kashim Shettima remarked that this collaboration represents a pivotal opportunity to transform Nigeria into a powerhouse of the global halal economy.

Senator Shettima, who was represented by Deputy Chief of Staff to the President, (Office of the Vice President), Senator Ibrahim Hassan Hadejia in a statement by Stanley Nkwocha, the Vice President spokesman, said, “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.

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“We are committed to leveraging this collaboration to create jobs, attract foreign investment, and diversify our economy in line with the Renewed Hope Agenda of President Bola Ahmed Tinubu.”

The agreement was executed with HPDC, a subsidiary of the Saudi Public Investment Fund, represented by its Chief Executive Officer, Fahad Alnuhait, in the presence of Saudi Arabia’s Minister of Commerce, Dr. Majid bin Abdullah Al-Qasabi; Chairman of the Makkah Halal Forum’s Organizing Committee, His Excellency Mr. Fawaz bin Talal Al-Harbi, and Chairman of Makkah Chamber of Commerce and Industry, His Excellency Mr. Abdullah bin Saleh Kamel.

Also speaking, Special Assistant to the President on Export Promotion, Aliyu Bunu Sheriff, said the partnership builds on Nigeria’s growing Islamic finance sector, which has seen success through Sukuk bonds for infrastructure financing and the establishment of Islamic banks like Jaiz Bank, Taj Bank, and Lotus Bank.

Sheriff explained that the Islamic Development Bank (IsDB) and the Arab Bank for Economic Development in Africa (BADEA) will support the initiative through capacity building, regulatory framework development, and financing opportunities.

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“This agreement aligns perfectly with the Renewed Hope Agenda by creating new jobs, attracting foreign direct investment, and diversifying our economy.

“The halal economy extends beyond Muslim consumers. Non-Muslim majority countries like Brazil, Australia, and Thailand are already leveraging the sector for substantial export growth,” he said.

The Nigerian delegation also included the Chairman of Dar Al Halal Group, Alhaji Muhammadu Ladan Dikko; Chairman of the Board of Directors, Bank of Industry, Dr. Mansur Muhtar; Minister of Trade and Investment, Dr. Jumoke Oduwole who was represented by Ambassador Nura Rimi; Minister of Foreign Affairs, Ambassador Yusuf Tuggar, represented by Ambassador Mahmoud Lele, and R’representative of the Standard Organization of Nigeria, Hajiya Amina.

Others are the Chairman, Nigeria-Saudi Chamber of Commerce, Engr. Ibrahim Usman; Minister of Finance, Mr. Wale Edun, represented by Nur Muftau Baba Ahmed; CEO of Nigeria Export Promotion Council, Mrs. Nonye Aneyi, represented by Mustapha Aminu; Deputy President of NACCIMA, Alhaji Jani Ibrahim, and Managing Director of Bank of Industry, Mr. Olasupo Olusi, represented by Mrs. Jelilat Ismaila-Ayinde.

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VP Shettima had during the Halal Economy Stakeholders Engagement Programme held at the Banquet Hall of the Presidential Villa, Abuja, in September last year emphasized the economic potential of the sector, noting that “increasing Nigeria’s halal exports to OIC markets from two percent to six percent could boost the country’s GDP by $540 million, while strategic import substitution could add nearly $1 billion by 2027.

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Olorogun Olori hails Wike’s political sagacity in South South

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Elder statesman, Olorogun Morrison Olori, has hailed the Minister of the Federal Capital Territory, Chief Nyesom Wike, for his outstanding political leadership in the South-South region and his strategic role in advancing President Bola Ahmed Tinubu’s Renewed Hope Agenda.

Olori, an octogenarian and chieftain of the All Progressives Congress (APC) in Delta State, particularly praised Wike for his transformative work as Minister of the Federal Capital Territory (FCT).

In a statement made during a public policy dialogue in Abuja, Olorogun Olori hailed Chief Wike as “a tireless bridge-builder and result-oriented leader who has brought stability and strategic political direction to the South-South and beyond.”

Chief Wike has not only strengthened the political base of the South-South region but has also become a key player in driving the Renewed Hope Agenda of President Tinubu through inclusive governance and infrastructural transformation,” Olori said.

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Highlighting Wike’s impact as FCT Minister, Olori pointed to the minister’s record-setting performance in the signing of over 5,000 Certificates of Occupancy, as well as his aggressive infrastructure renewal across the city, including road expansions, urban beautification, and housing developments. He described Wike’s efforts as “a masterclass in leadership and vision.”

“His work in Abuja has demonstrated that the Renewed Hope Agenda is not just a slogan—it is being implemented in concrete ways. He is delivering real, visible change,” Olori noted.

Olorogun Olori also emphasized Wike’s political courage in rallying support for national unity and economic revival, particularly in the South-South geopolitical zone, where he continues to serve as a stabilizing force and a voice of progress.

“Wike has used his influence not for personal gain, but to elevate the South-South and to help President Tinubu consolidate the gains of this administration,” Olori added. “This kind of partnership between the presidency and regional leaders is exactly what Nigeria needs right now.”

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Olori, however, urged other political leaders to emulate Wike’s commitment to excellence and patriotism, emphasizing that Nigeria needs more leaders who “serve with sincerity and deliver with impact.”

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Nigeria Felicitates with South Africa on 31st Freedom Day Anniversary

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By Gloria Ikibah 

Nigeria has congratulated South Africa on the celebration of its 31st Freedom Day anniversary, marking more than three decades since the end of apartheid rule.

This was contained in a statement issued by the Ministry of Foreign Affairs, on Sunday in Abuja, the Minister, Ambassador Yusuf Maitama Tuggar, extended warm greetings to his South African counterpart, His Excellency Ronald Lamola, Minister of International Relations and Cooperation.

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Ambassador Tuggar described the day as a reminder of the historic victory of democracy over apartheid and a celebration of the resilient and unified spirit that continues to shape South Africa’s journey.

“Nigeria and South Africa share a profound bond forged through decades of solidarity in the liberation struggle. As we reflect on this milestone, we recall Nigeria’s unwavering support for the anti-apartheid movement, including diplomatic, material, and moral contributions that underscored our commitment to justice and the ethos of pan-Africanism,” the statement read.

Highlighting the strong bilateral ties between the two countries, Tuggar emphasized the shared responsibility Nigeria and South Africa have in promoting peace, security, and inclusive development across the African continent.

He noted that as Africa’s two largest economies and democracies, there is a need to strengthen collaboration in areas such as trade and investment through the African Continental Free Trade Area (AfCFTA), as well as cultural exchanges and youth empowerment.

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“Therefore, on this Freedom Day, we stand with South Africa in honouring the sacrifices of heroes like Walter Sisulu, Nelson Mandela, Govan Mbeki, Thabo Mbeki and recommit to working together to realize the vision of a prosperous, peaceful, and united Africa,” he added.

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Enugu Reps caucus backs concessioning of Enugu airport

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The Enugu Caucus in the House of Representatives has thrown its weight behind the Federal Government’s plan to concession the Akanu Ibiam International Airport, Enugu, describing it as a potential catalyst for the Southeast economy.

The caucus commended the Federal Government for the initiative and urged it to hasten the process to enable the people of the Southeast and the nation to benefit from it in earnest.

It also called on the people of the region to support the concession as the only way to guarantee sustainable investment to fully develop the airport into a truly international facility.

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