Brought on from the bench in the second half, Iwobi managed 12 touches in 14 minutes and watched one great effort sail over the bar.
Arsenal boss Arsene Wenger says that people are finally beginning to appreciate how hard it is to finish in the Premier League's top four.
Some have been making their feelings clear by protesting outside Arsenal's London Colney training base this week.
Arsenal fans were seen fighting among themselves at the Emirates during their 2-2 draw with Manchester City today. "He has been the right man for so many years and I am listening to what people are saying". "I can understand that you ask again".
The Frenchman has led the Gunners to a top-four spot and Champions League qualification for the past 20 seasons.
"We were not completely at our best because of the pressure, but we showed mental strength and did not lie down", Wenger told television reporters at the Emirates Stadium.
There was no update on Wenger's future, but in a sign he may be starting to think about life after Arsenal, he vowed to "always support the club".
Pep Guardiola's first season in England has not been an unqualified success, but he has succeeded in giving City one of the Premier League's sleekest attacks, and Arsenal's equaliser spurred the visitors back to life. We have a hard task in front of us but I am happy, as well, that people realise suddenly that it's not as easy as it always looked.
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Wenger feels his years of guiding the Gunners into the top four will help achieve the same feat this season, even if they are seven points adrift ahead of Wednesday's visit of struggling West Ham.
Arsenal headed into the game having beaten just Hull City and lower league sides Sutton United and Lincoln City since the end of January, against a backdrop of fan unrest over the side's form and the unresolved issue of Wenger's future.
"If you want to play, you need this quality of pass", he said.
Thus, we won't know for sure either way until Wednesday, but it really doesn't sound good.
Uncertainty about the futures of Chilean star Alexis Sanchez - who has cast a glum figure of late - and German World Cup winning playmaker Mesut Ozil has also affected the club.
"It's not for me to say if it's in the right hands or not but I do believe what he has done in the past is awesome", the French global said.
"It's not about majority or minority".
"If I could come back on earth I would have a fantastic right foot, a fantastic left foot, I would be quick, strong, and score 10 goals per game", he said.