Nigerian foreign minister in Tehran for expansion of trade ties
Yusef Jalali
Press TV, Tehran
A high-ranking delegation from Nigeria headed by the country’s foreign minister is in Tehran to expand economic ties with Iran.
"Long-term and cordial" is how Nigerian Minister of State for Foreign Affairs, Zubairu Dada, described ties between the two countries.
He has been in Iran since June 6, heading a business delegation, to bolster economic interactions between Abuja and Tehran.
On Thursday, he paid a visit to the SAIPA Group, a major Iranian automaker.
The top Nigerian diplomat was impressed by how Iran produces its own cars domestically, despite crippling US sanctions that have targeted all of the country's industries.
The top Nigerian diplomat has been in Tehran to take part in the 6th Iran-Nigeria Joint Commission after an eight-year hiatus.
The event saw the two sides signing multiple cooperation documents envisaging cooperation in tourism, oil, agriculture and sports.
Iran and Nigeria are both member states of the Organization of Islamic Cooperation.
They are also members of the Organization of the Petroleum Exporting Countries, OPEC.
Yet, the two sides' trade volume was as low as 125 million dollars last year, up three-fold compared to the previous year.
The Nigerian foreign minister says the trend is upward, but it's still far from satisfactory.
In recent months, Iran has increased its interaction with African countries, in line with President Ebrahim Raeisi's bid to explore new destinations for Iran's trade.
The new initiative comes as the 2015 deal between Iran and the world powers has been hanging in the balance, prompting Iran to shift away from a deal with the west, and instead find new trade targets.
Both economically and culturally, Iran and Nigeria share many commonalities, as both are Muslim nations and both are oil rich, but despite this, Nigeria has not been a household name in Iran's foreign trade.
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