Head of the Iranian delegation, junior commerce minister Mohammadali Zeyghami, said the two OPEC member states had the capability to develop "relations in all fields" including political, economic and scientific areas.
The three-day talks are to culminate in the signing of investment, maritime shipping and taxation agreements.
Nigeria's junior foreign minister, Tijjani Kaura, is leading the Nigerian delegation.
Both Iran and Nigeria are also members of the Organisation of Islamic States (OIC) and the Non-Aligned Movement (NAM).
