The agreement was part of the talks between the Iranian and Nigerian leaders in a meeting held on the sidelines of the 16th heads-of-state summit of the Non-Aligned Movement (NAM) in Tehran.
Sambo stated that to materialize the decisions taken at the Summit, the level of development in the country calls for partnership so that both countries can materialize their developmental objectives.
He said though there are Iranian companies in the country, Nigeria needs more cooperation with Iran to enable its participation in its developmental goals specially in the power sector.
He also used the occasion to highlight what the country has done so far in building both thermal and hydro power projects as well as other projects in agriculture.
President Mhamoud Ahmadinejad expressed his appreciation for what Nigeria is doing in the sub-region, and said he looks forward to having stronger relationship between the two countries.