Iwobi, 20, has become a regular at the Emirates after breaking into the first team last season.
And Akpom is eager to follow in his footstep by getting to play for the Gunners on a regular basis in future.
"What he has done is motivating," Akpom told the London Evening Standard.
"He is playing week in, week out for Arsenal so when I am watching him, I'm just thinking I am so proud of him and I just want to get the same chance as he got. As a friend, personally it is good to see him getting games.
"I think playing at Forest for Arsenal shows progression. Whereas a few seasons ago I was on loan and now I am coming back playing for Arsenal – it shows that is the main thing, going out on loan and trying to come back to Arsenal a better player and more experienced.
It is a real good feeling.
"I loved it – it was my first start for Arsenal and just to get an assist and to be involved in the team, that's what I want to do – to play and get minutes."