Bilateral relations and economic exchange between the two countries have intensified since the 1970s. In 2000, the two countries signed a new agreement on the protection of investments and this agreement became effective on 1.4.2003.
Nigeria is one of Switzerland’s most important trade partners in Africa and is a major supplier of crude oil. The volume of trade between Switzerland and Nigeria fluctuates strongly year by year. In 2014, it was at about 1 billion USD, while in 2015 it declined to about 650 million USD due to low oil prices.
Switzerland chiefly exports pharmaceuticals, chemical products, machinery, watches and instruments to Nigeria. Except in few instances when there are lower oil imports from Nigeria, Switzerland’s imports from Nigeria usually considerably exceed its exports to Nigeria. Consequently, Nigeria frequently enjoys a trade surplus with Switzerland.
There are more than 30 Swiss companies in Nigeria, with more than 10 of our biggest companies, covering almost all sectors: from food and beverage, pharmaceuticals, to machinery, and services like quality control and banking.
In order to assist business operators interested in the Nigerian or the Swiss market, in line with its mandate to promote bilateral business interests, the Embassy of Switzerland cooperates strongly with the newly opened Consulate General of Switzerland in Lagos. The Consulate General has a specific mandate to promote trade and investment and cooperates in this respect with the official trade and investment promotion agency of Switzerland, Switzerland Global Enterprise (SGE), in Zurich. See especially the country information Nigeria.
The Consulate General can be contacted through: