Lagos Set to Host Inaugural Muslim Economic Summit

The Lagos State Government has announced plans to host the first-ever Muslim Economic Summit, an event designed to foster collaboration, entrepreneurship, and economic development within the Muslim community and the wider Nigerian society. Scheduled to take place in Lagos later this year, the summit will bring together Islamic scholars, business leaders, policymakers, and financial experts to explore strategies for promoting ethical finance, wealth creation, and inclusive growth in line with Islamic economic principles.

According to the organisers, the summit—tagged “Empowering Communities Through Ethical Economic Models”—aims to strengthen the role of Muslim entrepreneurs and investors in driving sustainable development while encouraging youth participation in business and innovation. The event will also serve as a platform for promoting Islamic finance as a viable tool for achieving financial inclusion and poverty reduction across the country.

Speaking on the upcoming summit, Dr. Ahmad Abdulkareem, Chairman of the Organising Committee, said the gathering is timely given Nigeria’s current economic realities. He explained that the summit will address key issues such as access to finance, entrepreneurship training, digital transformation, and partnerships for growth within the Muslim business community.

“The Muslim Economic Summit will provide an opportunity for Muslim professionals, entrepreneurs, and investors to network, share knowledge, and develop actionable solutions for economic empowerment,” Abdulkareem stated. “Our focus is on ethical business practices, responsible investments, and innovation that align with Islamic values.”

He added that the Lagos State Government’s support for the initiative demonstrates its commitment to fostering an inclusive economy that recognises the contribution of all communities to national development.

Commissioner for Economic Planning and Budget, Mr. Ope George, who confirmed the state’s endorsement of the summit, said Lagos remains the ideal location for such a significant event due to its position as Nigeria’s economic and commercial hub. He noted that the summit aligns with the state’s broader agenda of promoting entrepreneurship, innovation, and youth empowerment.

“Lagos is a city of diversity and opportunity, and we are proud to host this groundbreaking summit that will contribute to strengthening our economy,” George said. “The state government supports initiatives that promote financial literacy, small business growth, and inclusive economic participation.”

The event will feature a series of plenary sessions, panel discussions, exhibitions, and networking opportunities. Topics to be discussed include Islamic finance and investment, digital entrepreneurship, Halal industry development, microfinancing for women and youth, and the role of faith-based institutions in nation-building.

Organisers have confirmed participation from leading figures in Islamic finance, including representatives from Jaiz Bank, Lotus Capital, and the Islamic Development Bank (IsDB), as well as scholars from various Islamic research institutions.

In a statement, Jaiz Bank Managing Director, Dr. Sirajo Salisu, commended the initiative, describing it as a major step toward integrating Islamic economic values into Nigeria’s mainstream development agenda. “This summit will deepen understanding of Islamic finance, which is based on fairness, risk-sharing, and ethical investment. It will also create new opportunities for collaboration across sectors,” he said.

Similarly, Halal Business Council Nigeria welcomed the development, stating that the summit will help dispel misconceptions about Islamic economics and highlight its benefits to both Muslims and non-Muslims. The council noted that ethical finance principles such as interest-free lending, profit-sharing, and social responsibility could help reduce inequality and promote entrepreneurship among Nigeria’s youth.

Economic experts have also described the summit as a potential catalyst for stimulating small and medium enterprises (SMEs) across Muslim-majority communities, particularly in northern and southwestern Nigeria. They noted that Islamic finance institutions can play a vital role in bridging the funding gap for entrepreneurs who are often excluded from conventional financial systems.

The summit will also feature exhibitions from local and international businesses in the Halal economy, showcasing products and services that adhere to Islamic ethical standards. Organisers said the platform would encourage partnerships that could expand Nigeria’s participation in the global Halal market, estimated at over $3 trillion annually.

The Muslim Economic Summit is expected to attract participants from across Nigeria, West Africa, and the Middle East. It will provide a space for dialogue on how Islamic economic principles can contribute to solving contemporary challenges such as unemployment, poverty, and inequality.

Dr. Abdulkareem further revealed that the summit will produce a Lagos Declaration on Ethical Economic Growth, a document outlining policy recommendations and strategies for promoting inclusive development through faith-based economic models.

He said, “We envision a future where Muslims and non-Muslims alike benefit from a more just, sustainable, and people-centered economy. This summit is a first step in that direction.”

As preparations intensify, organisers expressed optimism that the maiden Muslim Economic Summit will not only strengthen economic collaboration within the Muslim community but also foster a broader understanding of how ethical finance can contribute to Nigeria’s long-term development.

The event is expected to be attended by government officials, business leaders, international partners, and members of the diplomatic community, reinforcing Lagos’s reputation as a hub for dialogue, innovation, and economic leadership in Africa.