The Senate Committee on Finance in Nigeria has endorsed President Bola Tinubu’s new National Halal Economy Strategy, viewing it as a significant initiative to integrate Nigeria into the lucrative global halal market, which is valued at an impressive $7.7 trillion. This backing indicates the government’s commitment to change economic direction and explore new avenues for growth. The committee's chairman, Sani Musa, described the initiative as timely and in harmony with international standards, further emphasizing its strategic importance for Nigeria's future.

The endorsement from the Senate comes shortly after the strategy was formally introduced by Vice President Kashim Shettima at the Presidential Villa. This public presentation marks a pivotal moment in Nigeria's economic policy outlook, aiming to capitalize on the growing halal industry by adopting best practices from other nations that have successfully implemented halal frameworks. Countries such as the UK, Canada, Malaysia, and Saudi Arabia have previously enhanced their agricultural exports and foreign investments through the halal economy, thereby providing useful examples for Nigeria to follow.

The initiative is seen as a vital step toward diversifying Nigeria's economy, especially in light of ongoing challenges in various sectors. By positioning itself within the halal market, Nigeria seeks to increase its manufacturing capabilities and attract more foreign investments, potentially improving its economic landscape in the long run. The united support from the Senate underscores a broader political consensus on the importance of this strategy, signaling a cooperative approach to national economic development in line with global trends.