In a move signaling a paradigm shift in international cooperation, Nigeria and Switzerland are redefining their relationship with a focus on innovation, sustainability, and economic diversification.
During a high-level meeting at the National Assembly, Senate President Godswill Akpabio and a delegation from the European Free Trade Association (EFTA) discussed bold strategies to elevate bilateral ties beyond traditional trade agreements.
Senator Akpabio, addressing the delegation led by the Swiss Ambassador, emphasized Nigeria’s readiness to leverage its position as Africa’s largest economy. “This is not about aid or dependence; it’s about building a partnership grounded in innovation and mutual respect,” he said, reflecting on Switzerland’s pivotal role in returning $321 million in stored funds to Nigeria in 2017.
***As Swiss Delegation Eyes Stronger Ties with Nigeria to Unlock Economic Potential
Nigeria’s economic reforms, including the removal of oil subsidies and Naira unification under President Bola Ahmed Tinubu, have created a fertile ground for foreign direct investment.
Akpabio projected a 4.17% GDP growth by 2025 and invited Swiss investors to explore opportunities in Nigeria’s energy, technology, and sustainability sectors.
For Switzerland, this partnership underscores a growing recognition of Africa as a hub for innovation and trade rather than merely a destination for aid. Members of the Swiss delegation praised Nigeria’s efforts to transform its economy and expressed their commitment to supporting initiatives that drive long-term growth.
“This is a defining moment,” Akpabio stated, “where two nations can create a blueprint for collaboration that uplifts generations.”
A Swiss delegation, headed by Thomas Eschi, Chair of the European Free Trade Association (EFTA) parliamentary committee, has expressed a keen interest in deepening economic and diplomatic relations with Nigeria, underscoring the nation’s growing importance as a strategic partner in West Africa.
During their visit to Abuja, Eschi praised Nigeria’s vast economic potential, calling it a critical partner for Switzerland. He highlighted the role of parliamentary diplomacy in building trust and paving the way for future collaborations.
“Nigeria’s size, resources, and strategic position make it a key player in Africa. We are here to explore new partnership opportunities and lay the groundwork for future trade agreements,” Eschi remarked.
The two countries already share strong economic ties, with Nigeria ranking as Switzerland’s seventh-largest trading partner in Africa in 2023. Swiss exports to Nigeria are valued at $850 million, primarily in chemicals, pharmaceuticals, and machinery, while Nigeria remains Switzerland’s top supplier of crude oil.
With over 60 Swiss companies, including multinational giants such as Nestlé, LafargeHolcim, and Novartis, operating in Nigeria, Eschi emphasized the growing interest of Swiss businesses in the Nigerian market.
The visit also strengthens the long-standing relationship between the two nations. Since 2016, Switzerland and Nigeria have engaged in political consultations, migration dialogues, and human rights discussions. A recent Swiss-hosted visit by Nigerian parliamentarians further solidified the partnership.
“We are eager to learn from Nigeria’s vision for its economic future and to support its goals,” Eschi concluded.
The delegation’s visit is seen as a key step in further building ties and exploring new avenues for growth and cooperation between the two countries.
The meeting concluded with both parties agreeing to focus on actionable plans that prioritize innovation and shared prosperity, marking a shift from historical patterns of aid-driven engagement to one of equal