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How Nigerian Entrepreneurs Can Benefit From Lifting Of Iran Sanction

Nigerian entrepreneurs should prepare to explore the immense opportunities provided by the imminent total lifting of international trade restrictions placed on the Islamic Republic of Iran, to boost local export and drive economic growth in the country. Pioneer member of Nigerian-Iran Business Council, Mr. Prince Hassan Momoh stated this during a workshop organised by the Council on the business opportunities in Iran in Lagos.
He said Iran is a fertile investment destination offering immense opportunities for Nigerian business men who are willing to explore them. He said Nigerian business men should look to invest in Iran because it is one of few countries that do not require a local partner for foreign investment, a factor, he said has led to many foreign companies making investment in Iran even during the sanctions.
Momoh said a great number of investors will be ready to enter Iranian market after restrictions are fully lifted from international trade and Iranian banks, before reaching 2016 and that, Nigerian businessmen should be ready as well to explore opportunities.
According to him, “The factors that have turned Iran to an ideal place for investment are: Low price energy, cheap and young skilled workforce with high education, tens of Free-Trade Zones, government incentives for foreign investment, strong infrastructure in transport, water and energy, market demand for high-quality products and services and production of many required minerals and petrochemical raw materials.”
He said Iran also offers immense import and export opportunities because it has a huge population of over 80 million people, extensive industries and thirsty market, where all commodities have both import and export permissions without any restriction in the market. He said: “Imported products to Iran are foodstuffs or prepared food, agricultural seeds, pharmaceuticals, meat, spare parts, production lines, clothing, electrical products, home appliances and almost everything that is produced in the world can enter and be sold in Iran.
“Products that are exported from Iran are pistachio, carpets, cements, apples, dairy products, plastic, metal products, tomato paste, chocolate and candy, tiles, copper, dates, plaster, polyethylene, nitrogen-release fertilizer, lead, methanol and any petrochemical products. If you would be willing to buy any product(s) from Iran, IranPartner will introduce the high quality producers to you at no cost; all cost will be covered by the Iran party.
“Also, if you are not willing to be personally present in Iran but would like to market your products, IranPartner will do it for you free of charge, you will only give them the permission to be your representative of your product in Iran for 18 months and during this time, they will make the necessary contacts with real Iranian buyers that will market your products.”

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