Global News: Nigeria, Iran To Establish Joint Economic Committee

This was one of the decisions made during a meeting between President Muhammadu Buhari and Iranian Vice President for Economic Affairs, Mohammad Nahavandian, in Malabo, Equatorial Guinea.

The Nigerian Government and Iran have agreed to set up an economic committee to harness the potential of both countries.

This was one of the decisions made during a meeting between President Muhammadu Buhari and Iranian Vice President for Economic Affairs, Mohammad Nahavandian, in Malabo, Equatorial Guinea.

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Nahavandian referred to the two countries’ great potential for expanding economic ties, saying, “A lot can be done. We can do miracles. We have the vision.”

He suggested four major areas – petrochemicals, power, irrigation agriculture and industry – for economic cooperation between the two sides.

Buhari on his part said he was impressed with the speed in the transformation of the Iranian oil and gas industry compared to the time when he was Nigeria’s petroleum minister in the 1970s.

He said, “I will work very hard to realise the establishment of the joint committee. We will go back and identify sectors of common interest.

“In particular, we are interested in how you utilised your gas, with 95 per cent of your national population wired to gas.”

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