The President of the Senate, Senator Godswill Akpabio, has reaffirmed Nigeria’s readiness to collaborate with Switzerland to drive innovation, diversify the economy, and create lasting opportunities for future generations.
He emphasized Nigeria’s position as Africa’s largest economy and a member of the African Continental Free Trade Area, expressing willingness to engage with the European Free Trade Association beyond traditional trade partnerships.
During a courtesy visit by the Swiss EFTA delegation to the National Assembly in Abuja, Akpabio stated, “We envision partnerships that will ignite innovation, diversify our economy, and create opportunities for generations to come. Switzerland and EFTA have long exemplified ingenuity and economic cooperation, setting a benchmark for unity and shared progress.” He recalled the 2017 agreement where Switzerland returned $321 million in recovered funds to Nigeria, calling it a historic act that strengthened trust.
Akpabio highlighted ongoing economic reforms under President Bola Tinubu, including fuel subsidy removal and naira exchange rate unification, projecting a GDP growth rate of 4.17% by 2025. “Our challenges can be overcome—not by one nation alone, but through the unity of many,” he said, expressing optimism for future collaborations. He thanked the delegation on behalf of the Nigerian Senate, stating, “May our deliberations be fruitful, our resolve unshakable, and our partnership enduring.”
Thomas Aeschi, leader of the Swiss delegation, expressed optimism about strengthening economic ties with Nigeria. He noted that while EFTA has not formalized trade negotiations with Nigeria yet, their visit aimed to lay groundwork for future collaboration. “EFTA, comprising Switzerland, Iceland, Norway, and Liechtenstein, is dedicated to fostering free trade and economic cooperation with countries outside the European Union. Nigeria is an indispensable partner for Switzerland in Western Africa,” Aeschi remarked.
He underscored Nigeria’s significant potential due to its large population and expressed confidence in parliamentary diplomacy as a tool for enhancing bilateral ties. “While we do not yet have a formal trade negotiation framework with Nigeria, we are here to explore possibilities and set the stage for future engagements,” Aeschi concluded.
