Akpabio: Nigeria to Partner Switzerland on Innovation, Economic Diversification

Sunday Aborisade in Abuja

President of the Senate Godswill Akpabio said yesterday that Nigeria would partner with Switzerland to ignite innovation, economic diversification and job opportunities for future generations.

Akpabio stated this when he received the chairman and members of the Swiss European Free Trade Association (EFTA) who paid him a courtesy call at the National Assembly.

Akpabio said Nigeria, being the largest economy in Africa and a proud member of the African Continental Free Trade Area, was ready to engage with EFTA in ways that would transcend mere trade.

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

“Switzerland and indeed the European Free Trade Association, has long been a beacon of ingenuity and perseverance.

“Your work in advancing free trade and fostering economic cooperation has set a standard for what nations can achieve when they focus not on their divisions but on their commonalities.

“Our two nations, Nigeria and Switzerland, have already shared moments of profound partnership.

“One such moment was the historic agreement in 2017, when Switzerland returned $321 million in recovered funds to Nigeria”.

Akpabio said that the gesture not only strengthened the bonds of trust between the two countries but also set a global example of accountability and mutual respect.

He said: “It was proof that when nations act with integrity and in the spirit of justice, the world becomes a better place.

“Now, we have before us the opportunity to write the next chapter of our shared history.

“Nigeria, as the largest economy in Africa and a proud member of the African Continental Free Trade Area, stands ready to engage with EFTA in ways that will transcend mere trade”.

He further said that Nigeria’s economy was on a transformative journey under the leadership of President Bola Tinubu with bold reforms such as the removal of fuel subsidies and the unification of the naira exchange rate.

“These measures are laying the foundation for sustainable growth, with projections indicating a promising GDP growth rate of 4.17 per cent in 2025,” he added.

The leader of the delegation and a member of the House of Representatives of Switzerland, Mr. Thomas Aeschi, said that it was a privilege to be in Nigeria.

He said: “A country of immense potential and an indispensable partner for Switzerland in Western Africa”.

Aeschi said that EFTA is an intergovernmental organisation that brings together four member states; Switzerland, Iceland, Norway, and Liechtenstein.

“It is dedicated to promoting free trade and fostering economic cooperation with countries outside the European Union,” he said.

He said the delegation was at the national assembly to explore ways to deepen “our economic partnership with Nigeria and to identify new areas of collaboration.”

He added: “As I said, the potential of this country is huge, just looking at its population size. I am convinced that parliamentary diplomacy can help to strengthen ties and re-launch processes for our governments.

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