Iran’s exports to Nigeria grow 36% in 8 months: official

Iran’s export of products to Nigeria registered a 36 percent growth in the first eight months of the current year in 1401.

Iran exported more than 195,000 tons of goods, valued at $115.4 million, to Nigeria from March 21 to Nov. 22, said Seyyed Rouhollah Latifi, the Deputy Head of the Iran-Africa Merchants Club.

Nigeria is a lucrative market for Iranian businessmen and merchants both in terms of population and religion and culture, he added.

He pointed to the products imported into Nigeria last year in 2021 and noted that $67.6 billion worth of products were imported into this African country in 2021, $52.4 and $15.2 billion of which related to the goods and technical-engineering services respectively.

Latifi stated Iran exported 266,000 tons of goods, valued at $125.3 million, to Nigeria in 1400 (ended March 20, 2022), showing a 605 percent growth as compared to the same period of last year.

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