Economy, Domestic Economy

Nigerian President Tells Iran’s FM: Iran Economic Recovery a Model

Nigerian President Tells Iran’s FM: Iran Economic Recovery a ModelNigerian President Tells Iran’s FM: Iran Economic Recovery a Model

Nigerian President Muhammadu Buhari has described the Iranian economy as an inspiration and a model that will aid Nigeria in its quest for economic recovery in the wake of the economic crisis occasioned by drop in oil prices and oil production.

Buhari noted that Nigeria has been forced to learn the hard way, saying his administration was working assiduously to ameliorate the challenges faced by the Nigerian economy by studying the experiences of countries like Iran who thrived in adversity.

The Nigerian president made the statements in a meeting with Iran’s Foreign Minister Mohammad Javad Zarif in Abuja on Monday, Nigerian newspaper The Daily Sun reported on Tuesday.

“The progress made by Iran within a short period of 30 years is really commendable. Within the period, you have been able to harness gas flaring and you are now exporting. You have recorded strides in security, manufacturing, agriculture and technology,” Buhari said.

“You have also achieved a lot in nuclear research. I must also congratulate you for successfully negotiating with America and the European countries on the development of your nuclear energy.”

Buhari thanked Iran for its support and cooperation in opening up the Nigerian economy for diversification.

Zarif said the Iranian government would support the ongoing restructuring of the Nigerian economy.

“We are very keen to see a better and stronger relationship with Nigeria, which is the largest country in Africa and a major global player,” he said.

The Iranian foreign Minister went to Nigeria with a delegation of more than 70 members of the Iranian business community, which had already started discussions on making investments in sectors like banking, education, agriculture, energy, tourism and technology development.

Zarif and his accompanying team are on a tour of Africa. They left Abuja later on Monday and arrived in Ghana. Guinea-Conakry and Mali are their next stops.

Back in February 2015, Zarif took another tour of Africa and travelled to Kenya, Uganda, Burundi and Tanzania at the head of a top-level political and economic delegation.

President Hassan Rouhani, who took office in August 2013, has repeatedly stressed his government’s interest in upgrading ties with African countries.