The Nation Newspaper

Tag: Iran

  • Nigeria, Iran bilateral trade volume hits $50m

    The trade volume between Nigeria and Iran is estimated at $50 million annuallyand it is poised to rise in coming months as both countries deepen trade relations.

    Speaking ahead of the first Iran Solo Exhibition holding from June 9 to 11, in Lagos, the Iran Ambassador to Nigeria, Saeed Koozechi, said despite sanctions by Western countries on his country, it is determined to boost its trade relations to leading global economies such as Nigeria.

    He said Iran is the second largest economy in the Middle East and North Africa region, with an estimated 77.3 million population.

    “Iran is the 18th largest country in the world, with an area of 1.64 million kilometer square. The economy is characterised by a large hydrocarbon sector, small scale agriculture and services sector. We also have a noticeable state presence in manufacturing and financial services,” he said.

    Koozechi said Iran ranks second globally in natural gas reserves and fourth in proven crude oil reserves.

    He said the exhibition holding at the Landmark Centre in Lagos, is an opportunity for big Iranian companies to gather in one roof to showcase their services to Nigerians.

    He said: “The capabilities of Iran are not recognised in Nigeria but the exhibition will introduce our economy. Also, Nigeria and Iran will both reap the benefits of the exercise”.

    The Ambassador said Iran manufactures 1.5 million cars annually, adding that the exhibition will create opportunity for Iranian companies to build spare parts factories in Nigeria.

    He said Iranian companies are advanced in technology with good knowledge of oil and gas exploration, refinery building, electrical engineering, transformer production, steel production. He said Iranian firms can also build helicopters and repair airplanes.

    Some of the Iranian companies expected at the event include Iran Transfo Commercial Company, which sells and markets transformers, artin taps which manufactures sanitary products, Kabir Panel Co which manufactures sandwich panels, Novin Ceram Co which deals on tiles and ceramics among others.

    Vice President, Abuja Chamber of Commerce and Industry, Mrs Dipe Fisho-Oridedi said the group wants better business collaboration between Nigeria and Iran.

    She said Nigeria has wider market, and remains the biggest economy in Africa. She said trade collaborations between both countries will boost the economy and create more jobs for the people.

  • Nigeria, Iran to boost non-oil export trade

    Nigeria, Iran to boost non-oil export trade

    The Nigerian Export Promotion Council (NEPC) has pledged to consolidate its trade promotion strategy through the mobilisation of Nigerian exporters and relevant stakeholders for the first Iranian Solo Exhibition coming up in Nigeria next month.

    Its  Executive Director/Chief Executive Officer (CEO), Mr Olusegun Awolowo, who spoke during the courtesy visit of  the General Manager, Pars Rastak, Mehdi Saeedozakerin  in Abuja, lamented the low level of trade between Iran and Nigeria.

    Represented by a Director in the CEO’s, Mr Olajide Ibrahim, Awolowo observed that staging the exhibition could not have come at a better time and from any other country bearing in mind that both countries only recently ushered new governments.

    He commended the Iranian government for the recent Memorandum of Understanding (MoU) signed during the 5th Session of Nigeria-Iran Joint Commission which covered agreement on industrial cooperation; agreement on visa waiver for holders of Diplomatic Passports; and agreement on tourism.

  • Oil falls as Iran, China discuss more supply

    Brent crude oil fell below 58 dollars a barrel on Tuesday on signs showed that the Iranian nuclear talks could lead to the lifting of sanctions.

    The positive outcome of the talks came as Iranian officials visited Beijing to seek more oil sales, leading to speculations that there could be further oil glut.

    China is Iran’s largest trade partner and had bought roughly half of its crude exports since 2012, when sanctions against the Islamic Republic were tightened.

    Oil markets were also pressured by a Goldman Sachs report saying prices needed to remain low for months to slow U.S. oil output growth.

    Brent LCOc1 was down 50 cents at 57.62 dollars a barrel while U.S. crude CLc1 was down 60 cents at 51.54 dollars a barrel.

    Global oil markets already face a supply glut with producers pumping over 1.5 million barrels per day (bpd) more than demand in the first half of this year, analysts say.

    “There is a massive oversupply, stocks are rising and now we have the prospect of more Iranian oil coming onto the market,” said Carsten Fritsch, analyst at Commerzbank in Frankfurt.

    Goldman said in a research note it expected U.S. crude inventories to top out in April and subsequently draw down at 350,000 bpd during May-September, when demand for fuel would be high.

  • Iran, U.S. meet in Brussels

    UNITED States Secretary of State John Kerry and Iranian counterpart Mohammad Javad Zarif have held nuclear talks in the Swiss city of Lausanne before the Iranian delegation headed to Brussels for meetings with European ministers.

    “We’re obviously in crunch time right now, and the next couple of days leading up to this weekend will be key,” State Department spokeswoman Jen Psaki told CNN from Washington. “We fully expect we will take to the end of the month to determine if we can get to an agreement that both sides can live by.”

    Six world powers – the United States, Germany, France, Britain, Russia and China – are trying to reach a framework agreement with Iran by the end of the month that would curb Tehran’s most sensitive nuclear activities for at least 10 years in exchange for the gradual easing of some sanctions.

    The parties have set a June 30 deadline to finalise an accord.

    The meeting between Kerry and Zarif included U.S. Secretary of Energy Ernest Moniz and Iran’s nuclear chief Ali Akbar Salehi, who also met on Sunday to negotiate technical details of Iran’s nuclear program.

    “I’m very optimistic,” Salehi told reporters afterwards, leaving Zarif and Kerry in the room for a one-on-one meeting.

    Kerry has urged Iran to make concessions that would allow six world powers to reach a political framework agreement for a nuclear deal with Tehran that would lift sanctions in exchange for tight restrictions on Tehran’s nuclear program.

    The West suspects Tehran of ambitions to create an atomic weapon. Tehran denies that accusation and says its research is for purely peaceful purposes.

    In Brussels, British Foreign Secretary Philip Hammond said an interim deal was still some way off.

    “There are areas where we’ve made progress, areas where we have yet to make any progress,” he told reporters as he arrived for a meeting with his EU peers.

    After their meeting in Brussels, the Iranian delegation will return to Lausanne for more talks with the Americans, and will be joined later in the week by European ministers.

     

     

  • Oboabona ready for Iran

    Oboabona ready for Iran

    Godfrey Oboabona believes Iran will provide the toughest test for the Super Eagles during the World Cup group phase.

    Powerhouse Argentina and European debutants Bosnia-Herzegovina are the other teams in the group, but the Nigeria defender says the unknown quantity of the Asians will make them difficult to figure out.

    “Iran will be the toughest match in our group,” Oboabona told KickOffNigeria.com, “because for me, I don’t know anything about them. I have never seen them play.

    “I was scanning channels last week to get their game but unfortunately, I could not.

    “It is better to know them because if you don’t know players you don’t know how they play. It will not be an easy game.”

    Nigeria failed to win any of the three warm-up games, drawing with Scotland and Greece before losing to the USA, but Oboabona is not troubled by the results, or talk of the Eagles’ frailties against non-African opposition.

    “I am a footballer, I don’t care what people say. I don’t want to know anything about that. When we win against Bosnia, people will know we are good at winning outside Africa and not just Venezuela and Tahiti.”

    The squad arrived in Brazil on Tuesday night, and the defender is confident the team is close to being ready.

    “We are getting closer to where we want to be, and I believe that by the time the competition starts, we will be a hundred percent ready.”

     

  • Iran, world powers begin talks on final nuclear deal

    Six world powers and Iran began talks on Tuesday in pursuit of a final settlement on Tehran’s disputed nuclear programme in the coming months, Reuters said.

    Both sides warned that a breakthrough deal may prove impossible. It is the first round of high-level negotiations since a November-24 interim deal. It has seen Tehran curb some nuclear activities for six months in return for limited relief from sanctions.

  • BRAZIL 2014 WORLD CUP: Iran won’t play Spain, Russia, says Queiroz

    BRAZIL 2014 WORLD CUP: Iran won’t play Spain, Russia, says Queiroz

    Iran manager Carlos Queiroz has reacted to reports in the media that the National Team will play exhibition matches against Spain and Russia as part of their build up for Brazil 2014.

    “I don’t know where these rumors come from but I don’t care about that. This is absolutely ridiculous.

    “At the moment, we just have to prepare ourselves for the World Cup,” Queiroz was quoted as saying by persianfootball.com.

    Iran are in Group F of the World Cup which also contains Argentina, Nigeria and Bosnia Herzegovina.

    The Asians will play Nigeria on June 16 at the Arena da Baixada in Curitiba.

  • BRAZIL 2014: Iran’s Camp opens April 20

    BRAZIL 2014: Iran’s Camp opens April 20

    Iran boss Carlos Queiroz has once more enraged his colleagues at Iran’s top clubs by demanding all domestic players to join the national team camp by April 20, writes persianfootball.com.

    In fact, the Portuguese has vowed any Iran-based player not joining Team Melli’s preparations by that date would certainly not travel to the 2014 World Cup in Brazil.

    The ultimatum is particularily controversial as the final group match of the AFC Champions League as well as both round of 16 legs will be played after April 20.

    Therefore the four Iranian clubs participating in the AFC Champions League – Esteghlal, Tractor Sazi, Sepahan and Foolad – would not have their best players at disposal for at least one if not three crucial matches.

    Esteghlal coach Amir Ghalenoei and Sepahan manager Zlatko Kranjcar have already protested, but Queiroz is unwilling to make any compromises in regards to the national team’s World Cup preparations – especially after the football federation had failed to implement his plans at all so far, wasting three FIFA matchdays in the meantime.

    Queiroz had explained last year that the whole FIFA competition schedule is optimized for European and South American teams while it would be to the disadvantage of the rest of the world.

    Therefore Asian and African teams would be on the losing side if they comply with all rules and schedules. Instead countries like Iran must find ways to optimize their chances outside the standard plans, according to the former Real Madrid boss.

    Indeed the AFC Champions League’s full-year schedule and the scheduling of games until middle of May would disturb Iran’s World Cup preparation plans.

  • Nigerian held in Iran seeks minister’s intervention

    ANigerian and staff member of MTN, Mr AdekunleAwobodu, has asked the Federal Government to intervene in the restriction order placed on him by Iranian government which prevented him from travelling back to the country since March, this year.

    His plea was contained in a petition sent to the Supervising Minister of Foreign Affairs, Federal Ministry of Foreign Affairs, Prof. Viola Onwuliri and acknowledged on November 5, this year.

    Writing through his counsel, Jennifer Aburime, Awobodu, a native of Ogun State, who was on secondment to MTN Irancell, since 2005 claimed to have worked with the company in various capacities, starting from a Senior Manager position culminating in being promoted to the position of the Chief Financial Officer (CFO) of the company in October 2009, a position he held until December, last year.

    However, due to the delay in finding a replacement for him, he said he agreed with both the Chief Operating Officer of MTN Irancell to return to Iran in January, this year to assist the company on urgent financial matters, including helping MTN Irancell to close the financial period which ended in December last year.

    Counsel to Awomodu said on March 6, nine days to when he was scheduled to return to Nigeria, he received a formal summon that he should appear at Evin Detention Camp in Tehran within three days of the summons or he would be arrested and that no reason was stated for this summons thereon.

    “Our client immediately contacted the Nigerian Consulate in Tehran on Thursday, March 7, informing them about the summons and was asked by the Consulate staff to lodge a statement on the same day.

    The petition also said Awomodu on March 9, in compliance with the summons he was at the camp with one of MTN Irancell Legal Consultants, Mr Farzad where he was interrogated in a cold room for about three hours by some security operatives/interrogators and that the interrogation revolved around MTN Group loans/dividend funds that were paid by MTN Irancell to MTN Group via a swap contract arrangement entered into between MTN Dubai and the Petro Chemical Company of Iran (PCC).

    Awomodu was said to have responded to some queries stating that part of his responsibility as the CFO of MTN Irancell was to follow instructions given to him by MTN Group Chief Financial Officer at that time, Mr. Nazir Patel; and to ensure proper records, coordination and reconciliation of transactions between MTN Dubai, MTN Irancell and any other local third party involved but stressed that he was not authorized to sign such funds transfers.

    After about three hours interrogation, the petition stated that Awomodu was escorted by several security operatives to his office and home which were thoroughly searched and videotaped for several hours without been shown any search warrant or official documents and that on conclusion of the search, the security operatives took away his laptop and three storages devices, promising to return them to him soon while all passwords on his computers were forcibly elicited from him.

    “About three days later, he was invited for another round of interrogation and was asked to come along with his international passport. At the meeting, he was immediately asked to hand over his passport before being told by the interrogators that they had scrutinized his computers and found nothing incriminating on it.

    Onwuliri stated that her client was later asked to bring them some documents from MTN Dubai to enable them release his passport and that within 24 hours, MTN provided the information requested for by these interrogators which was given to them by our client the following day.

    “At this point, it is clear that both the MTN as an entity and the partners/ shareholders are unable to resolve this matter with the Iranian authorities and our client continues to suffer for each day his ordeal continues. By now, the Iranian authorities have had ample time to conclude whatever investigations relating to this case and should now be able to release their findings exonerating our client.

    “The hardship this whole debacle has brought on our client is better imagined. His wife and young children are going through emotional torture, not being able to see him now for months, whilst he languishes in Iran. The question now is “Have the Iranian authorities taken this course of action against him because he is a Nigerian?”

    “We are therefore appealing to you, Honourable Minister to use your good offices to intervene in this matter urgently where the rights of a Nigerian Citizen are being violated in Iran without any respect to international law and diplomacy. We urge you Madam to do all in your power and position to ensure that our integrity as a nation that protects its own is not ridiculed by other nations.”

     

  • Oil hangs above $94 on US jobs report, Iran talks

    The price of oil remained near $94 a barrel Friday as markets digested a possible loosening of sanctions against Iran and encouraging data on U.S. employment.

    By early afternoon in Europe, benchmark crude for December delivery was up 6 cents at $94.26 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell 60 cents on Thursday.

    Negotiations in Geneva between major world powers and Iran on the Islamic Republic’s nuclear program were seen heading toward a deal. U.S.-led sanctions have crippled Iran’s oil exports and their resumption would come at a time of already abundant supplies.

    “An Iran nuclear breakthrough could represent a wave of oil ready to hit the market,” according to the Kilduff Report, research edited by Michael Fitzpatrick. “Some of the recent price decline has been attributable to this rally.”

    Meanwhile, the Labor Department said U.S. employers added 204,000 jobs in October, a surprisingly high figure considering the federal government was partially shut for 16 days last month. At the same time, the unemployment rate rose to 7.3 percent from 7.2 percent in September, likely because furloughed federal workers were counted as unemployed.

    A possible sign that demand for oil could increase came from China, where October trade data showed growth in overall imports accelerating. But overall, the backdrop of ample supplies and muted demand, which has driven a month-long slide in the oil price, is expected to keep a lid on markets.

    “More losses appear likely,” the Kilduff Report noted.

    Brent crude, the international benchmark for oil, was up 14 cents at $103.60 a barrel on the ICE Futures exchange in London.

    Culled from Associated Press