Swiss investors see long-term opportunity in Nigeria, says envoy Patrick Egloff
By Aboki Forex —
Switzerland remains one of Nigeria's leading European investors, with more than 50 Swiss companies operating across manufacturing, logistics, pharmaceuticals, engineering, consumer goods and services. Patrick Egloff, Ambassador of Switzerland to Nigeria, Niger, Chad and Permanent Representative to ECOWAS, said Swiss chief executives are optimistic about Nigeria, driven by improving foreign exchange stability and the country's young, technologically skilled workforce.
Egloff spoke on investment, migration cooperation and regional security, and expressed confidence in Nigeria's long-term economic prospects.
New money and old presence
He pointed to Mediterranean Shipping Company (MSC), which has announced plans to build a new container terminal on Snake Island in Lagos, an investment of about $1 billion. Companies such as Bühler Group, Nestlé, ABB and Sulzer already run operations supporting agriculture, food production, energy and industrial development. Swiss businesses operate from Lagos and Abuja to Kano and the Niger Delta.
Many of these firms have been in Nigeria for decades. They manufacture locally, develop supply chains with Nigerian farmers and SMEs, invest in skills development and employ thousands of Nigerians, Egloff said. The Swiss Nigerian Business Council provides a platform for engagement between both sides, while the Consulate General of Switzerland in Lagos promotes trade and investment.
Swiss investors typically take a long-term view, he added. Consistent policies, strong intellectual property protection, reliable energy infrastructure and security remain key considerations for future investment. He cited ongoing efforts by PEBEC and NIPC to improve the business environment, and noted Nigeria's strong representation at this year's World Economic Forum in Davos, where Nigeria House hosted engagement between Nigerian stakeholders and global investors.
Beyond the vault and the future market
Asked about Switzerland being seen as the world's vault and Nigeria as a future market, Egloff rejected the framing. Banking contributes only around five percent of Swiss GDP, he said, with the country's strength in innovation, advanced manufacturing, research, engineering and vocational education. Switzerland has topped the World Intellectual Property Organization's Global Innovation Index for 14 consecutive years.
He made the same case for Nigeria, saying significant activity is already happening in fintech, creative industries, entrepreneurship and manufacturing. Swiss companies invest because of opportunities that exist today, he said, not because they are waiting for a future one.
Culture and migration
The relationship widened this year in the creative sector. During the 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. A bilateral agreement on the transfer and protection of cultural property was signed.
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, on preserving, restoring and digitalising Nigeria's film heritage. The National Film Institute in Jos and the University of Applied Sciences and Arts in Lucerne will jointly work on a master's programme.
On migration, Egloff said the partnership with Nigeria has run for 15 years. Since 2011 it has produced more than 65 projects covering document security, border management and support for victims of human trafficking. Switzerland supports the Nigerian Immigration Service on border management while investing in human capital, including vocational training with Nestlé and Bühler. With Germany's GIZ and Nigerian institutions, it backs the SKYE (Skills Development for Youth Employment) programme.
For Nigerian businesses, the signal is a pipeline of Swiss capital tied to local supply chains, skills and industrial capacity, with the $1 billion Snake Island terminal the largest single item on the table.