The LIFBF has been designed strategically to hold every last weekend before the Ramadan season as consumer demand for food and beverage and other related product is at their highest . It is usually a four days event. LIFBF 2018 is introducing the whole new Halal Food segment.
As the fifth largest Muslim population in the world, Nigeria, is missing out of the over $2 trillion global Islamic economy. Yes, Islamic banking exists in Nigeria, albeit a nameless version of it. Yes, there is an appetite for modest fashion, halal food; and many of our over 70 million Nigerian Muslims are media and recreation lovers too.
Despite being the 5th largest Muslim population in the world, and one among the next economic giants (the “MINT” countries — Mexico, Indonesia, Nigeria and Turkey), Nigeria is not among the top 15 countries in the Global Islamic Economy (GIE) indicator.
It is high time we labelled the Islamic economy for what it is. This will make room for it to blossom. Let us appreciate that it is not just a way of life for over 1.7 billion people around the world, of which 70 million are Nigerians, but most importantly (as this is a business write-up) it is a business opportunity for the whole of Nigeria as a country.
Since food is an important part of daily life, food laws carry a special significance. Muslims are expected to eat for survival, to maintain good health and not to live for eating. In Islam, eating is considered to be a matter of worship of God like prayer, fasting, alms-giving and other religious activities.