The Senate Committee on Finance has commended President Bola Ahmed Tinubu for launching Nigeria’s National Halal Economy Strategy, describing it as a bold and strategic move to position the country within the lucrative global halal market, estimated at $7.7 trillion.

In a statement signed by its Chairman, the committee praised the initiative as timely and aligned with international best practices. Several countries—including the United Kingdom, Canada, Australia, Malaysia, Indonesia, Saudi Arabia, the United Arab Emirates, Turkey, Brazil, Thailand, and Singapore—have successfully used halal frameworks to boost manufacturing, agricultural exports, financial markets, and foreign investment.

The committee highlighted Nigeria’s strong advantages for success in this space, including its vast agricultural resources, large domestic market, youthful population, growing manufacturing sector, and expanding services industry.

It noted that the strategy fits seamlessly into the Tinubu administration’s broader economic reforms, such as boosting non-oil revenue, diversifying exports, creating jobs, supporting small and medium enterprises (SMEs), and increasing foreign exchange earnings.
President Tinubu, represented by Vice President Kashim Shettima, officially unveiled the strategy on Thursday, February 6, 2026, at the Presidential Villa in Abuja.

The framework, developed in collaboration with Saudi Arabia’s Halal Products Development Company (HPDC) following a bilateral agreement signed in February 2025 at the Makkah Halal Forum, aims to enhance quality standards, certification processes, and competitiveness across sectors like food, pharmaceuticals, cosmetics, tourism, and ethical finance.

The committee described the strategy as inclusive, market-driven, and globally oriented, while fully respecting Nigeria’s diverse and pluralistic society.

It is projected to contribute significantly to the economy, with estimates suggesting it could add around $1.5 billion to Nigeria’s GDP by 2027 and unlock billions more in domestic value over the coming decade through expanded exports and investment.

The Senate Committee on Finance pledged its full legislative support, oversight, and cooperation to ensure smooth implementation, regulatory clarity, and long-term fiscal sustainability in the national interest.

“This decisive step reinforces Nigeria’s readiness to adopt proven international models, unlock new economic frontiers, and establish itself as a competitive player in the evolving global economy,” the statement concluded.

A property transaction dispute has emerged involving Zoe New Dawn Nigeria Limited and a former Chief of Naval Staff, following claims by the company’s chairman, Engr. Dr. Stephen Achema Akpa, that a ₦100 million payment made for land was not followed by a transfer of ownership.

According to Akpa, the payment was made in connection with a land transaction reportedly facilitated by the former naval chief. He alleged that despite documented payments, the land in question was neither transferred to the company nor was the money refunded.

Akpa said Zoe New Dawn Nigeria Limited possesses transaction records and related documents which, he claims, support its position in the dispute. He added that the company has initiated steps to seek redress through appropriate legal channels.

The matter has drawn attention due to the profile of the parties involved, particularly against the backdrop of recurring disputes linked to land ownership and property transactions in Nigeria’s real estate sector.

Industry observers note that unresolved land transactions remain a common source of litigation, often arising from disagreements over title documentation, intermediaries, and contractual obligations.

Zoe New Dawn Nigeria Limited stated that it intends to pursue the matter through lawful means to determine liability and recover any funds deemed outstanding.

As of press time, no official response had been issued by the former Chief of Naval Staff regarding the allegations. The dispute has not yet been confirmed as the subject of any court proceedings.

Minister of Works Senator Dave Umahi over the weekend inspected the progress of the 7th Axial Road project in the Lekki Corridor of Lagos.

The project, located behind the Dangote Refinery, is a crucial cargo handling route for the Lekki Deepwater Port and connects the Lekki Corridor with the Sagamu route.

The Minister expressed confidence in China Harbour Engineering Company Limited (CHEC), the project’s contractor, citing its successful delivery of the Lekki Deepwater Port and high-quality progress on the Makurdi-Enugu road reconstruction and expansion project. Umahi instructed that the roadbed filling work for Project LOT1 be completed by the end of April and directed the project team to accelerate resource input and tangible works to meet the deadline.

The 7th Axial Highway is expected to synergize with key infrastructure projects like the Coastal Road, Dangote Road, and Lekki Port, creating a comprehensive transportation hub model and boosting Nigeria’s port economy and industrial corridor. Umahi emphasized the need for environmental protection agencies to ensure efficient construction and steady progress while maintaining ecological safety.

A representative of CHEC who spoke during the inspection stated that the company would maintain a high level of resource input, implement the Minister’s directives, and coordinate safety, quality, and environmental protection to ensure the project’s timely and high-quality completion in other to unluck its port relief and regional economic benefits.