Midfielder Ever Banega scored directly from the resulting free-kick in the 27th minute, as his attempt found the bottom right corner in expert fashion.
Argentina should have doubled their lead as Enzo Perez and Nicolas Otamendi both squandered opportunities, but they eventually went two goals ahead courtesy of Aguero.
The Manchester City striker found the roof of the net from close range after being found by Cristian Pavon inside the box in the 36th minute.
Coincidentally, it was the 29-year-old’s 36th international goal for the Albiceleste to become their third all-time top scorer.
His former Citizens team-mate Kelechi Iheanacho pulled one back just before half-time as he netted with an expert free-kick.
The Leicester striker guided his shot into the top left corner for his third goal of the season for club and country.
Seven minutes into the second-half, the Super Eagles drew back on level terms through Gunners ace Iwobi.
Played in by Iheanacho, Iwobi coolly found the bottom left corner as the former African Cup of Nations champions pushed for more.
And in the 54th minute, Nigerian fans were sent into jubilation when Brian Idowu scored on his debut in dramatic fashion.
Iheanacho again the provider, he played in the FC Amkar Perm star, as he curled his attempt beyond the outstretched arms of Agustin Marchesin.
Argentina offered nothing in the second period, and they deservedly conceded yet again when Iwobi found the back of the net in spectacular fashion.
Dancing through the back-line, he nutmegged Javier Mascherano before unleashing a fierce left-footed drive into the bottom corner in the 74th minute.
Watch highlights below: