For me, the worst thing about this Muslim/Muslim partnership is that it will not even deliver the benefits of Islamic finance to Nigeria

Ayo Akinfe

[1] Over the weekend, we just celebrated Sallah across Nigeria. There were durbars held in several tiowns and cities across Nigeria but has anyone ever been able to make the festival a comercoak success as happens with say Christmas in Europe?

[2] Do you know that Nigeria has the fifth largest Muslim population in the world behind Indonesia, India, Pakistan and Bangladesh? None of the big five are Arab nations, yet the Arabs dictate the agenda when it comes to practising Islam. Equality, we have the sixth largest number of Christians in the world behind the US, Brazil, Mexico, Russia and The Philippines but alas, Israel and the Vatican make all the cash

[3] There are about 100m Muslims in Nigeria and probably about another 50m across West Africa. This is a captive market and I am surprised nobody has thought of cashing in on it. Sallah should be a period when Nigeria generates millions

[4] When I look at how much Finland makes from trips to Lapland at Christmas and how much the Vatican and Jerusalem generate from tourists every December, I want to know why Nigeria is not doing likewise at Sallah and Christmas

[5] Can someone please explain to me why there is no annual pilgrimage to say Usman Dan Fodio’s tomb every Sallah to turn Nigeria into a major tourist hub once a year? We should have our own equivalent of hajj, attracting African Muslims to Sokoto. It should also be an opportunity to raise Islamic finance through the sale of Sukuk bonds

[6] If we had such an annual pilgrimage, Sokoto State would probably be wholly self sufficient. Saudi Arabia generates about $16bn from pilgrimages and I fail to see why we cannot match that. Just imagine Sokoto State raising $16bn in internally generated revenue

[7] Hajj packages to Saudi Arabia vary by country. In the UK, they average around £4,750 whereas for umrah the equivalent figure is £1,050. The average profitability for operators in the UK is £100 to £200 per pilgrim. I want to see that kind of cash in the Nigerian economy

[8] Typical of Nigeria, we only see the religious side of faith and fail to cash in on its economic potential. In contrast, in Indonesia, there is a government parastatal called the Haj Fund Management Agency, which holds deposits on behalf of future pilgrims, who may wait 30 years or more for a hajj visa. These deposits are held in a fund used to help subsidise poorer pilgrims. In Malaysia, they have gone one step further by investing money in their own fund on the stock market and as of 2017, Tabung Haji, the Malaysian Pilgrims Fund, had assets of $18.3bn

[9] Experience from Saudi Arabia has also shown that opening the country up to outsiders has reduced intolerance, Islamic extremism and narrow minded bigotry. When hardline Islamists meet liberal Muslims from say Malaysia, Turkey and Indonesia, they learn to be more tolerant

[10] Also, very key is the fact that Saudi Arabia has built up unbelievable infrastructure around the pilgrimage industry. Skyscrapers, five start hotels, world class restaurants, universities, airlines, airports, research institutes. etc, have all sprung up in Mecca and Medina. Maybe if our Muslim youths see this, Boko Haram, Iswap and other extremist groups will stop being such an attraction to them