Iran and Nigeria have signed a memorandum of understanding (MOU) to expand cooperation in various energy sectors.

Iranian Oil Minister Javad Oji and Minister of State for Petroleum Resources of Nigeria Timipre Sylva inked the deal in Tehran on Saturday.

Sylva who visited Tehran on top of a high-ranking delegation was received by Oji at the place of the Oil Ministry to discuss avenues of mutual cooperation between the two countries.

Exporting technical and engineering services to Nigeria, collaborating with Nigerian companies for manufacturing dual-fuel cars, using Nigeria's capabilities in the field of Liquified Natural Gas (LNG), developing Nigeria's oil and gas fields and the reconstruction and renovation of Nigerian refineries are among the fields of cooperation covered in the MOU.

Speaking at the meeting with Sylva, Oji referred to the potentials of Iran and Nigeria in the energy sector and expressed hope that signing such MOUs would pave the way for increasing cooperation between the two countries.

Iran and Nigeria have large reserves of oil and gas and Nigeria is the sixth exporter of LNG in the world, the minister stressed.

The Nigerian minister on his part emphasized that Iran and Nigeria have had a lot of bilateral cooperation under the framework of OPEC, JECF, and OPEC+ alliance, saying: "Today, a good memorandum was signed between the two countries for the transfer of technology and engineering services from Iran to Nigeria, development of Nigeria's oil and gas fields and manufacturing of dual-fuel cars in Nigeria.”