The game, which was played in preparation for the Russia 2018 World Cup was in Krasnodar, Russia with the Argentines, parading star players like Sergio Aguero, Javier Mascherano and Angel Di Maria.
Ángel Fabián Di María an Argentine winger scored the first two goals of the game.
Argentina shot into the lead courtesy of goals from Ever Banega in the 28th minute and Sergio Aguero moments after.
Ihenacho scored a superb free-kick on 44 minutes of the first half to reduce the tally to 2-1.
The Eagles soared back to life in the second half when Iwobi equalised in the 52nd minute to make it 2-2.
Newly invited Brian Idowu made it 3-2 for Nigeria in the 54th minute of the game while Iwobi scored his second goal of the game to make it 4-2 and seal the victory for Nigeria.