Nigeria to partner Switzerland for economic collaboration – Akpabio

Godswill Akpabio, the Senate President, has called for stronger economic collaboration between Nigeria and the Swiss European Free Trade Association (EFTA), describing it as an opportunity to “move mountains” for mutual prosperity.

Akpabio made this declaration on Monday, during a courtesy visit by the Swiss EFTA delegation at the National Assembly in Abuja.

Welcoming the delegation, led by Thomas Aeshi, Akpabio highlighted the historic and evolving partnership between Nigeria and Switzerland, referencing the landmark 2017 repatriation of $321 million in recovered funds as a foundation for trust and mutual respect.

He said, “There is a Swiss proverb that says, ‘When there is unity, mountains can be moved.’ It resonates deeply with us as Nigerians, for progress is built on unity, collaboration, and shared purpose.

Read also: Nigeria joins BRICS as a partner country

“Today, as representatives of our nations, we are stewards of that unity, and we can move mountains.”

The Senate President emphasised the need for collaboration to transcend trade, envisioning a partnership that would drive innovation, economic diversification, and sustainability.

He underscored Nigeria’s potential as Africa’s largest economy and its membership in the African Continental Free Trade Area (AfCFTA) as crucial assets in fostering productive partnerships with EFTA nations.

“Picture a Nigeria where Swiss expertise in precision engineering enhances our manufacturing sector, where our agricultural wealth finds new markets in EFTA nations, and where our shared commitment to sustainability drives solutions for energy and the environment. These are not dreams—they can become reality if we act boldly today”, he stated.

Akpabio praised the economic reforms introduced by President Bola Tinubu’s administration, including the removal of fuel subsidies, unification of the naira exchange rate, and prioritisation of credit access for entrepreneurs. He noted that these measures are stabilizing the economy and attracting foreign investment, with projections of a 4.17% GDP growth rate in 2025.

He added, “Under President Tinubu’s transformative leadership, Nigeria is laying a solid foundation for sustainable growth,” Akpabio added. “The National Assembly is ready to provide the legislative support needed for our fortunes to thrive.”

Earlier, Thomas Aeshi, leader of the Swiss EFTA delegation, outlined the purpose of the visit as an exploration of avenues to deepen economic partnerships with Nigeria.

Read also: Nigeria partners Bloomberg to attract investors, rebrand nation’s image

He revealed that, while EFTA currently lacks a formal trade negotiation process with Nigeria, the delegation aims to establish groundwork for future collaboration.

“EFTA is dedicated to fostering free trade and economic cooperation. We are here to explore the potential for long-term partnerships with Nigeria in areas of mutual benefit,” Aeshi remarked.

EFTA, an intergovernmental organization comprising Switzerland, Iceland, Norway, and Liechtenstein, promotes free trade with countries outside the European Union.

As the discussions concluded, Akpabio expressed optimism about the prospects of a robust partnership, urging all parties to embrace the opportunities presented by shifting global trade dynamics.

“Let it be said of Nigeria and EFTA that we did not falter, that we rose together to seize the opportunity of our time,” Akpabio concluded.

Speaking earlier, the leader of the delegation, Aeshi said the visit was to explore ways to deepen economic partnership with Nigeria and identify new areas for collaboration.

“While EFTA does not yet have a formal trade negotiation process with Nigeria in place, we are here to lay the groundwork for future possibilities,” Aeshi said.

The EFTA is an intergovernmental organisation comprising Switzerland, Iceland, Norway and Liechtenstein, dedicated to promoting free trade and fostering economic cooperation with countries outside the European Union.