Market News

Switzerland remains one of Nigeria’s leading European investors, with more than 50 Swiss companies operating across key sectors of the

BY  Faith Omoboye

Switzerland remains one of Nigeria’s leading European investors, with more than 50 Swiss companies operating across key sectors of the economy. In this interview, Patrick Egloff, Ambassador of Switzerland to the Federal Republic of Nigeria, the Republic of Niger, the Republic of Chad, and Permanent Representative to ECOWAS, discusses investment opportunities, migration cooperation, and regional security, while expressing confidence in Nigeria’s long-term economic prospects. Faith Omoboye brings excerpts:

Our bilateral relations are strong and dynamic, built on mutual trust, political dialogue and practical cooperation. Nigeria and Switzerland work closely on trade, investment, peacebuilding, human rights, migration and humanitarian issues.

This year, we opened a new chapter of cooperation in the creative industry. During the historic visit of Elisabeth Baume-Schneider to Nigeria at the end of June – the first ever by a Swiss Minister of Culture – Benin bronze sculptures and Ikom monoliths were restituted, and a bilateral agreement on the transfer and protection of cultural property was signed, which paves the way for bilateral cooperation in this field. Furthermore, both the Nigeria Film Corporation and the Centre for Black and African Arts and Culture (CBAAC) signed an MoU with Switzerland’s national film archive, Cinémathèque Suisse, starting a collaboration in the preservation, restoration and digitalisation of Nigeria’s rich film heritage. The National Film Institute in Jos and the University of Applied Sciences and Arts in Lucerne decided to jointly work on a master’s programme. It is an exciting development and a sign that new partnerships continue to emerge between our two countries.

How would you characterise the current level of Swiss private-sector investment in Nigeria?

Business and investment are central pillars of our relationship. Switzerland is among the leading European investors in Nigeria, with more than 50 Swiss companies operating across sectors including manufacturing, logistics, pharmaceuticals, engineering, consumer goods and services.

Many of these companies have maintained a presence in Nigeria for decades. They manufacture locally, develop supply chains with Nigerian farmers and SMEs, invest in skills development and employ thousands of Nigerians.

A recent example is Mediterranean Shipping Company (MSC), which announced plans to build a new container terminal on Snake Island in Lagos, representing an investment of about $1 billion.

Swiss businesses operate across Nigeria, from Lagos and Abuja to Kano and the Niger Delta. Companies such as Bühler Group, Nestlé, ABB and Sulzer have established operations supporting agriculture, food production, energy and industrial development.

The Swiss Nigerian Business Council provides a platform for engagement between Swiss and Nigerian businesses, while the Consulate General of Switzerland in Lagos promotes trade and investment opportunities.

When I engage with Swiss chief executives, I sense optimism about Nigeria. This confidence is driven by improvements in foreign exchange stability, Nigeria’s young and technologically skilled workforce, and ongoing efforts by agencies such as PEBEC and NIPC to improve the business environment.

Swiss investors typically take a long-term view. Consistent policies, strong intellectual property protection, reliable energy infrastructure, and security remain important considerations for future investment.

I was also pleased to see Nigeria strongly represented at this year’s World Economic Forum in Davos. Nigeria House provided an important platform for engagement between Nigerian stakeholders and global investors.

Switzerland and Nigeria share a federal structure despite their differences. One is often seen as the world’s vault and the other as a future market. How do you navigate that perception gap?

I do not encounter that perception gap in my daily work because our economic relationship is based on present realities rather than outdated stereotypes.

Switzerland is much more than a banking centre. While it hosts leading financial institutions, banking contributes only around five percent of Swiss GDP. The country’s economic strength lies in innovation, advanced manufacturing, research, engineering and world-class vocational education.

Switzerland has topped the World Intellectual Property Organization’s Global Innovation Index for 14 consecutive years.

Similarly, Nigeria should not be viewed merely as a future market. Significant economic activity is already taking place in sectors such as fintech, creative industries, entrepreneurship and manufacturing.

Swiss companies invest in Nigeria because of opportunities that exist today. They are working with a talented workforce and contributing to industrial growth now, not waiting for a future opportunity.

Migration remains a sensitive issue in Europe-Africa relations. How is Switzerland balancing border management with legal migration opportunities?

Switzerland and Nigeria have built a distinctive migration partnership over the past 15 years.

Since 2011, the partnership has produced more than 65 projects covering areas such as document security, border management and support for victims of human trafficking. Annual high-level dialogues ensure continued cooperation and open discussion on migration issues, including legal pathways.

Our approach combines security with opportunity. While supporting the Nigerian Immigration Service in strengthening border management, we are also investing in human capital development.

Through partnerships with companies such as Nestlé and Bühler, young Nigerians receive vocational training opportunities. Together with Germany’s GIZ and Nigerian institutions, we support the SKYE (Skills Development for Youth Employment) programme, which helps young Nigerians acquire skills and secure employment. Such investments benefit young people, businesses and society as a whole.

The deteriorating security situation in the Sahel is increasingly affecting the wider region. Is there a coherent Swiss strategy linking Nigeria and the Sahel?

Switzerland’s Africa Strategy 2025-2028 recognises that a prosperous and stable Africa is important not only for economic reasons but also for regional and global security.

Switzerland has worked in the Sahel for more than 50 years and maintains a presence in Mali, Burkina Faso, Niger and Chad. I am also the accredited Swiss Ambassador to Niger and Chad. We are regarded as an independent and reliable partner in the region.

Nigeria is a crucial partner for Switzerland and has never been a secondary consideration. For more than a decade, Switzerland has supported peacebuilding, humanitarian assistance and human security initiatives in Nigeria.

Our support is closely aligned with Nigeria’s efforts to stabilise the north-east. A secure north-east is important not only for Nigeria but also as a buffer against instability spreading southward from the Sahel.

A stable and prosperous Nigeria contributes significantly to regional stability and development.

A few years from now, when your posting ends, what single metric would convince you that your mission was successful?

Diplomacy is ultimately about people. I have the privilege of representing Switzerland, and for me, success will be measured by the positive experiences Nigerians have with my country.

If more Nigerians learn about Switzerland, engage with Swiss institutions and leave with a favourable impression, I will consider that a meaningful achievement.

At the same time, I know that I will leave Nigeria enriched by the country’s energy, diversity, creativity and the warmth of its people. That experience alone will leave me with a lasting smile.