Akpabio Seeks Stronger Nigeria-Switzerland Bilateral Ties

The president of the Senate, Godswill Akpabio, has expressed Nigeria’s readiness to partner with Switzerland to foster innovation, diversify the economy, and create opportunities for future generations.

He stated this yesterday during a courtesy visit by the chairman and members of the Swiss European Free Trade Association (EFTA) to the National Assembly.

Akpabio emphasized Nigeria’s strategic position as Africa’s largest economy and a member of the African Continental Free Trade Area (AfCFTA), noting the potential for a partnership that transcends traditional trade.

“We envision partnerships that will ignite innovation, diversify our economy, and create opportunities for generations to come,” he said.

Akpabio commended Switzerland and EFTA for their contributions to advancing free trade and economic cooperation, describing them as a global standard of ingenuity and perseverance.

He reflected on the 2017 agreement in which Switzerland returned $321 million in recovered funds to Nigeria, describing it as a moment of accountability and mutual respect.

“That gesture not only strengthened the bonds of trust between our nations but also set a global example of what integrity and justice can achieve,” he said.

He further highlighted Nigeria’s ongoing economic reforms under President Bola Tinubu’s administration, including the removal of fuel subsidies and the unification of the naira exchange rate.

These reforms, he noted, are laying the foundation for sustainable growth, with a projected GDP growth rate of 4.17 per cent by 2025.

Speaking on potential areas of collaboration, Akpabio stressed the importance of partnerships in innovation, diversification, and sustainable economic development.

Earlier, the leader of the Swiss delegation and a member of Switzerland’s House of Representatives, Mr. Thomas Aeschi expressed his appreciation for Nigeria’s immense potential.

“Nigeria is a country of immense potential and an indispensable partner for Switzerland in Western Africa,” Aeschi said.

He explained that EFTA, an intergovernmental organisation comprising Switzerland, Iceland, Norway, and Liechtenstein, promotes free trade and fosters economic cooperation beyond the European Union.

Aeschi highlighted the delegation’s purpose of exploring ways to deepen economic ties with Nigeria and identifying new areas for collaboration.

“While EFTA does not yet have a formal trade negotiation process with Nigeria, this visit aims to lay the groundwork for future possibilities,” he added.