Iran, Nigeria to establish joint economic commission

TEHRAN, Nov. 30 (MNA) – Iran and Nigeria have agreed to establish a joint economic commission to promote their trades, and cooperation in the fields of investment, agriculture and technology transfer.

According to a statement by Nigerian President’s spokesman, Malam Garba Shehu, the agreement is part of the outcome of a meeting between President Muhammadu Buhari and Iranian Vice President for Economic Affairs, Mohammad Nahavandian, on Friday in Malabo, Equatorial Guinea, PM News reported.

Speaking at the bilateral meeting held on the sidelines of the 5th Summit of Gas Exporting Countries Forum, the Iranian vice president referred to the vast potentials of expanding ties between the two countries, saying, “A lot can be done. We can do miracles. We have the vision.”

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

Nahavandian also offered cooperation in counter-terrorism, citing the routing of ISIL terrorists in Iraq and Syria as major contributions to the global anti-terrorism efforts.

He used the meeting to brief the Nigerian president on the political and security situation in the Middle East region.

Buhari, for his part, said he was impressed with the speed in the transformation of the Iranian oil and gas industry from what it used to be when he served as Nigeria’s petroleum minister in the 1970s.

He said, “I will work very hard toward the joint commission. We will go back and identify sectors of common interest.

“In particular, we are interested in how you utilized your gas, with 95 percent of your national population wired to gas.

“The evolution of our gas industry is too slow. We are still flaring gas. I will work with you on how to harness and utilize our gas. I am very impressed.”

President Buhari asked to be given up to the second quarter of 2020 on the modality of the joint commission.

He noted that Iran also flared gas in the 70s, expressing his delight that the fires had all been put out.

Buhari expressed optimism that Nigeria would soon attain the same feat.

According to him, the future of oil and gas is in value addition, extolling Iranians for attainments in oil and gas, electricity generation, agriculture and petrochemical industry.

MNA/IRN83573768

News Code 152829

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