Dar Al Halal Nigeria Engages Price & Water Consulting to Lead Global Financing for Nigeria’s Projected US$180 Billion Halal Economy Opportunity

Abuja, Nigeria — Dar Al Halal Nigeria, the Government-appointed Project Delivery Partner for the Nigeria National Halal Economy Strategy, has engaged Price & Water Consulting as Lead Financial Adviser and Capital Mobilisation Coordinator to support the global financing advisory and capital mobilisation component of the national halal economy implementation.

The engagement follows Price & Water Consulting’s Expression of Interest to support the Strategy, particularly in the areas of financial advisory, infrastructure finance, capital mobilisation, and the structuring of Shariah-compliant funding solutions for priority projects across the halal value chain.

In a formal correspondence from the Secretariat of the Nigeria Halal Economy Strategy Implementation Committee, Price & Water Consulting’s experience in financial advisory, infrastructure financing, and capital mobilisation across Africa and the GCC was acknowledged.

The Secretariat also noted the firm’s strategic positioning to connect Nigeria’s halal investment opportunities with Shariah-compliant capital pools, and encouraged the firm to work closely through Dar Al Halal Nigeria, the Program Delivery Partner, to align its support with the implementation priorities and financing frameworks under development.

The Nigeria National Halal Economy Strategy is a Presidential non-oil export initiative designed to position Nigeria as a leading hub within the global halal market. Its implementation is chaired by the Vice President and supported by key public-sector and institutional stakeholders, including the Honourable Minister of Finance, the Chairman and Managing Director of the Bank of Industry, the Bank of Agriculture, the Nigerian Export-Import Bank, the Nigeria Sovereign Investment Authority, and other relevant ministries, departments, parastatals, agencies, regulators and private-sector partners.

The Secretariat of the Nigeria Halal Economy Strategy Implementation Committee is domiciled at the Bank of Industry, while Dar Al Halal Nigeria serves as the Government-appointed Project Delivery Partner, working closely with the Secretariat and relevant stakeholders to support project pipeline development, investor coordination, technical implementation and execution tracking.

About the Halal Economy

Globally, the halal economy has become a major driver of trade, investment, ethical finance, food security, tourism, pharmaceuticals, cosmetics, logistics and export development. At the launch of Nigeria’s National Halal Economy Strategy, the Presidency described the global halal market as a US$7.7 trillion opportunity, which Nigeria seeks to tap into as part of its economic diversification agenda. Nigeria also represents one of the most attractive halal economy opportunities in Africa.

According to the Nigeria Halal Markets Report 2023, as reported by BusinessDay, Nigeria’s halal market reached US$107 billion in 2022 and is projected to grow at a compound annual growth rate of 10.7 percent to approximately US$180 billion by 2027. The report also estimated that the halal market could boost Nigeria’s GDP by about US$1.6 billion within the period through incremental exports, import substitution and foreign direct investment opportunities.

Given the scale of halal demand across the GCC, Southeast Asia, Africa and other Muslim-majority markets, Nigeria’s halal economy strategy presents a compelling opportunity to attract international capital, technology, equipment and technical partnerships. GCC-based financial institutions, Islamic banks, sovereign funds, family offices, export credit agencies, OEMs and EPC contractors are expected to play an important role in supporting bankable halal economy projects across food processing, livestock, logistics, cold chain, pharmaceuticals, cosmetics and export infrastructure amongst others.

The halal economy covers products, services, financing, logistics, production systems, certification frameworks and business practices that comply with Islamic ethical and Shariah principles. While often associated with food, it extends to agriculture, pharmaceuticals, cosmetics, modest fashion, tourism, logistics, infrastructure, Islamic finance, digital trade and export services.

For Nigeria, the halal economy presents a strategic opportunity to expand non-oil exports, attract ethical and Shariah-compliant capital, deepen local production, formalise value chains, improve product standards, create jobs and increase the global competitiveness of Nigerian goods and services.

Scope of Price & Water Consulting’s Services

As Lead Financial Adviser and Capital Mobilisation Coordinator, Price & Water Consulting will support Dar Al Halal Nigeria and relevant implementation stakeholders in developing a practical financing architecture for eligible halal economy projects.

The firm’s mandate will include the identification, assessment and structuring of bankable projects across priority sectors such as agriculture, livestock, food processing, pharmaceuticals, cosmetics, logistics, cold chain, infrastructure, export services and other halal-compliant value chains.

Price & Water Consulting will also support the preparation of investment materials, financial models, lender presentation documents, funding proposals, project information memoranda and other transaction documents required to present eligible Projects to development finance institutions, Islamic finance institutions, export credit agencies, commercial lenders, investment funds, sovereign institutions and private capital providers.

As part of its capital mobilisation mandate, the firm will support engagement with global financing partners, particularly development finance institutions, Islamic finance institutions, GCC-based banks, sovereign and investment funds, and other ethical capital providers. It will also assist in identifying opportunities for equipment financing, OEM partnerships, technology transfer and EPC-backed project delivery models where such structures can improve project bankability, execution capacity and access to long-term funding.

In addition, Price & Water Consulting will coordinate investor and lender engagement, support funding negotiations, advise on appropriate financing instruments, and assist in structuring solutions such as blended finance, concessional funding, sukuk instruments, lines of credit, asset backed finance, export credit-backed facilities, foreign direct investment and other suitable Shariah-compliant or ethical finance structures.

Speaking on the engagement, Mr. Nnamdi Obi, Chief Executive of Price & Water Consulting, said:
“We are honoured to support Dar Al Halal Nigeria and the Nigeria National Halal Economy Strategy implementation framework in mobilising sustainable, ethical and Shariah-compliant capital for Nigeria’s halal economy. This is a major opportunity to attract global financing partners, GCC capital, export credit support, OEM participation, technology providers and EPC partners capable of supporting bankable halal economy projects.”

About Dar Al Halal Nigeria

Dar Al Halal Nigeria is the Government-appointed Project Delivery Partner for the Nigeria National Halal Economy Strategy. In this capacity, it works closely with the Secretariat and relevant stakeholders to support technical and operational implementation, project pipeline development, investor coordination and execution tracking across the halal economy ecosystem.

About Price & Water Consulting

Price & Water Consulting is a Nigeria– UAE based financial advisory and capital mobilisation firm with experience in infrastructure finance, development finance advisory, project finance support, transaction structuring, investor engagement and access to institutional capital.

The firm works with clients seeking access to flexible financing from development finance institutions, export credit agencies, Islamic finance institutions, commercial lenders, investment funds, sovereign institutions and other institutional capital providers.

Price & Water Consulting supports projects requiring bankability assessment, financial structuring, funding documentation, lender engagement and transaction execution support.

Conclusion

The engagement of Price & Water Consulting as Lead Financial Adviser and Capital Mobilisation Coordinator by Dar Al Halal Nigeria marks an important step in strengthening the financing and investment mobilisation architecture for Nigeria’s halal economy.

By supporting the development of Shariah-compliant and development finance structures, the firm is expected to contribute to the broader national objective of unlocking sustainable capital, expanding non-oil exports, attracting investment, creating jobs and positioning Nigeria as a leading halal economy hub in Africa.