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Trade volume between Nigeria and Iran reach $3m from March 21-July 22

Tuesday, 22 August 2017 20:16

(Ecofin Agency) - From March 21 to July 22 this year, trade volume between Nigeria and Iran recorded a 69% growth, Mahmood Haji Yousefipoor, the Head of Nigeria department at the Trade Promotion Organization, revealed on Monday.

According to him, the volume of exports from Iran to Nigeria in those four months stood at $3 million, an increase of $1.2 million compared to the same period last year. “The main exported commodities to the African country over the period were chocolate and biscuit, syrup, tomato paste, vaseline, polyethylene, auto parts, flooring and construction materials,” he said.

Nigeria, it should be recalled, entered its first recession in 25 years last year after prices of oil, its main export, plunged sharply and its production fell due to attacks on key infrastructures.

Anita Fatunji

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ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

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