Governments Of Nigeria And Saudi Arabia Agree To Raise Oil Prices


The President of Nigeria, Muhammadu Buhari and the King of Saudi Arabia, King Salman Bin Abdul-Aziz decided recently to jointly raise oil prices.

The two state leaders met recently when President Buhari visited Saudi Arabia for a bilateral meeting with the king. Both leaders acknowledged that with oil being the backbone of their economies, unstable oil prices are not commendable. For this reason, they decided to commit themselves to doing all they can to stabilize oil prices and also revive the price of oil. They however didn’t explain what plans they intend to adopt to fulfill their project.

The leaders also addressed regional and global issues such as terrorism. Both state leaders agreed that terrorism posed a big threat to their states and economies, feeling the necessity to jointly tackle the threat.

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President Buhari also made a statement concerning Saudi’s invitation to Nigeria on joining the Coalition of Islāmic States against terror. The President congratulated the King on the formation of the affiliation, stating that;

“Even if we are not a part of it, we support you. I must thank the Kingdom of Saudi Arabia for the recent creation of a coalition to address the menace of international terrorism. Nigeria will support your efforts in keeping peace and stopping the spread of terror in your region. This is in consonance with our own commitment and on-going efforts in seeking to stamp out Boko Haram terrorists from the West African sub-region and Lake Chad Basin Commission (LCBC),” President Buhari said.

On global terror, the President also said, “international terrorism made a statement by attacking one of the advanced countries by carrying out an attack on Paris in which 130 were killed. Now we have to come together to find a common solution to the problem of terrorism.”

He also expressed remorse for the ongoing terrorism in Libya, mentioning Late General Muammar Ghaddafi. Both leaders hoped the Libyan factions will unite for the betterment of their country. Likewise President Buhari commented on Burkina Faso and Mali, how they have been victimized by terrorist groups. Nonetheless he conveyed his contentment with the ongoing defeat of Boko Haram.

“Luckily, we have cultivated our neighbors. We are now working together against Boko Haram,otherwise the problem would have become worse,” he said.

King Salman also applauded Nigeria’s progress in tackling Boko Haram and also promised to provide assistance where due. He also pledged his support to the Nigerian government under the incumbent leadership, instructing his government officials to follow suit.

“I now instruct my team to go and sit down with your relevant agencies to push forward cooperation between our states,” the King said.

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