WELCOME TO KTNBIO

The Federal Government has signed a cooperation agreement with Saudi Arabia’s Halal Products Development Company, HPDC, to explore the $7.7 trillion global halal market.

This is contained in a statement issued by Mr. Stanley Nkwocha, Senior Special Assistant to the President on Media & Communications, Office of the Vice President, on Thursday in Abuja.

The agreement will facilitate investment, technical cooperation, and market access across key sectors, including food production, pharmaceuticals, finance, and livestock for both countries.

The exercise was executed with HPDC, a subsidiary of the Saudi Public Investment Fund, represented by its Chief Executive Officer, Fahad Alnuhait.

It was witnessed by Saudi Arabia’s Minister of Commerce, Dr. Majid bin Abdullah Al-Qasabi, and Chairman of the Makkah Halal Forum’s Organising Committee, Mr. Fawaz bin Talal Al-Harbi.

Also present was the Chairman of the Makkah Chamber of Commerce and Industry, Mr. Abdullah bin Saleh Kamel.

While signing the agreement at the Makkah Halal Forum in Saudi Arabia, Vice President Kashim Shettima said that the partnership represented a game-changing opportunity to transform Nigeria into a global halal economy powerhouse.

Shettima, represented by the Deputy Chief of Staff to the President, Sen. Ibrahim Hadejia, added that the collaboration was an important step in Nigeria’s ambition to tap into the lucrative halal market.

The Vice President also said that the partnership would establish Nigeria as a leading global player in the halal market.

Shettima said, “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.”

Also, the Special Assistant to the President on Export Promotion, Aliyu Sheriff, said the partnership built on Nigeria’s growing Islamic finance sector.