Iran’s export to Nigeria up 36% in 8 months

 By Onome Amuge

 

The value of Iran’s export to Nigeria rose  36 per cent from March 21 to November 22 2022 compared to the corresponding period of 2021.

 

Seyyed Ruhollah Latifi, deputy head of Iran & Africa Merchants Club, who made this known recently, disclosed that Iran has exported over 195,000 tonnes of goods to Nigeria, worth $115.4 million during the first eight months of the current Iranian year (Mar. 21-Nov. 21, 2022).

 

Latifi said that exports during the period under review grew, adding that urea was the highest  exported commodity of the Iranian exports to the West African country.

The Iranian official added that Iron products, car parts, clothes, rose water as well as agricultural products like saffron and kiwis were some other goods the Western Asia country exported to Nigeria.

Latifi added that Iran exported 266,000 tonnes of goods valued at $125.3 million to Nigeria in the period ended  March 20, 2022, showing a 605 percent increase as compared to the same period in 2021.

Speaking on the value of commodities exported into Nigeria in 2021, he noted that $67.6 billion worth of products were imported within the period under review,of which $52.4 and $15.2 billion were related to the goods and technical-engineering services respectively.

According to Latifi, Nigeria is a lucrative market for Iranian businessmen and merchants both in terms of population and religion and culture.