The Iranian government has expressed its readiness to collaborate in developing Nigeria’s oil and gas downstream division.

The Iranian Ambassador to Nigeria, Muhammad Alibak, made this known when he hosted Rep. Ikenga Ugochinyere (PDP-Imo), chairman of the House Committee on Downstream Petroleum and Rep. Aliyu Mustapha (PDP-Kaduna state) in Abuja.

The ambassador expressed Iran’s enthusiasm to bolster Nigeria’s oil and gas sector and explore alternative energy sources.

Mr Alibak also said areas of collaboration included Compressed Natural Gas (CNG) projects, refinery improvements, petrochemical ventures, and impactful exploration initiatives.

He expressed the unwavering commitment of Iran, exemplified through a Memorandum of Understanding (MoU) previously signed by the former Minister of Petroleum Resources, Timpre Slyva.

The ambassador also highlighted subsequent correspondence from Iran’s current oil minister, demonstrating their determination to collaborate closely with Nigeria.

In his remarks, Mr Ugochinyere said their visit was to solidify deeper cooperation based on Iran’s long-standing willingness to contribute to Nigeria’s growth and expansion in the downstream sector.

He said sequel to the enacted Petroleum Industry Act (PlA), “there are many opportunities within the downstream and midstream oil domains.”

The lawmaker sought enhanced investment collaboration with Iran regarding technology transfer to fortify the ongoing evolution in the oil and gas sector.

Mr Ugochinyere commended Iran’s successful utilisation of gas resources, leading to widespread connectivity to refined gas and enabling economic growth.

The lawmaker said closer collaboration with Iran, a country that successfully overcame challenges including global sanctions, could strengthen Nigeria’s energy security, exploration activities, local refining, and overall industry growth.

He encouraged Iranian investors and oil companies to capitalise on the transparent and competitive market environment, leveraging the newfound stability in Nigeria’s oil and gas sector and investing heavily.

Also speaking, Mr Mustapha expressed the urgent need for Nigeria to transition from exporting crude materials to refining locally.

(NAN)