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Senate President Godswill Akpabio
The Senate President, Godswill Akpabio, has expressed Nigeria’s readiness to partner with Switzerland to diversify its economy and enhance job creation opportunities.
Mr Akpabio stated this on Monday while hosting the Chairman, Thomas Aeschi and members of the Swiss European Free Trade Association, who were visiting the National Assembly on a courtesy visit.
Akpabio said that Nigeria, as the largest economy in Africa and a proud member of the African Continental Free Trade Area, stood ready to engage with EFTA in ways that go beyond trade.
“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 $321m in recovered funds to Nigeria.”
The Senate President said the gesture not only strengthened the bonds of trust between the two nations but also set a global example of accountability and mutual respect.
“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 added that the Nigerian economy has been undergoing fundamental reforms since the assumption of office of President Bola Tinubu. He listed such reforms to include the removal of petrol subsidy and the unification of the naira exchange rate.
“These measures are laying the foundation for sustainable growth, with projections indicating a promising Gross Domestic Product growth rate of 4.17 per cent in 2025.”
Earlier in his remark, Aeschi, a member of the House of Representatives of Switzerland described Nigeria as a country with huge potential for growth and development.
“Nigeria is a country of immense potential and an indispensable partner for Switzerland in West Africa,” describing EFTA as 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 that the delegation was at the national assembly to explore ways to deepen “our economic partnership with Nigeria and to identify new areas for collaboration.
“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,” he added.
