THE ISSUES OF NIGERIAN SMALL AND MEDIUM-SCALE ENTERPRISES IN THE GLOBAL SUPPLY OF HALAL PRODUCTS

Abstract

The aim of this study is to explore the potentials of Nigerian Small and Medium-scale Enterprises (SMEs) in the global supply of Halal products. For this purpose, the study employed a desk research approach based on internet exploration, using specific keywords relating to the global Halal-centred industrial, investment, and export trade policy. The study found that Nigeria is yet to effectively key into the global Halal industry and market due to lack of functional Halal product certification management; under-researched nature of Halal export trade concepts; low investments into Halal business ventures; the novelty of interest-free business financing and low awareness of it among the SME owners. The study, therefore, recommends among other things, that government should incorporate the Halal business concept into the nation’s industrial and export trade policy; establish a functional Halal Product Certification Department under the relevant government parastatals for industry and international trade; and promote awareness and support for Halal business financing to enhance the production capacity and export capability of the SMEs in the global supply of Halal products. The study also provided benchmark information for future empirical studies on the contribution of the Nigerian SME sector to job creation, export expansion, and foreign exchange earnings