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Iran and Nigeria sign 9 MoUs to boost economic and trade ties

US Rep. Ilhan Omar (D-MN) (L) talks with Speaker of the House Nancy Pelosi (D-CA) during a rally with fellow Democrats before voting on H.R. 1, or the People Act, on the East Steps of the US Capitol on March 08, 2019 in Washington, DC. (AFP photo)
Iran’s Minister of Industry, Mine and Trade Reza Fatemi Amin (R) and Nigeria’s Minister of State for Foreign Affairs Zubairu Dada shake hands after signing a memorandum of understanding for economic cooperation in Tehran on June 8, 2022. (Photo by Mizan)

Iran and Nigeria have signed nine major memoranda of understanding (MoUs) to expand their economic and trade ties.

Iran’s Minister of Industry, Mine and Trade Reza Fatemi Amin and Nigeria’s Minister of State for Foreign Affairs Zubairu Dada watched over the signing of the cooperation documents between the two countries during an a meeting in Tehran on Wednesday.

Local media reports said that the MoUs covered various fields, including culture, tourism, petroleum, agriculture, sports and trade.

They said that the agreements had been reached as part of a sixth round of intergovernmental committee meetings held between officials of Iran and Nigeria.

Dada leads a trade and political delegation in his trip to Tehran. He met senior Iranian government officials earlier on Wednesday, including Parliament Speaker Mohammad Bagher Qalibaf and Vice President Mohammad Mokhber.

The Nigerian official hailed the resumption of intergovernmental committee meetings between Iran and Nigeria after more than eight years.

He said the presence of the Nigerian trade delegation in Iran is a sign the African country is committed to implement bilateral agreements and contracts.

Iran’s trade minister Fatemi Amin also said Iran and Nigeria are seeking to rebuild their ties, adding that trade between the two countries had increased three-fold over the past nine months.

Fatemi amid said, however, that an annual bilateral trade figure of $125 million does not match the position of Iran and Nigeria as two major economies in their respective regions.

He said launching direct flight routes between Iran and Nigeria will be a first step in facilitating trade between the two countries.


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