Email YouTube Facebook Instagram Twitter

Nigeria, Saudi Arabia committed to oil market rebounds

By Mohammed Abubakar, Riyadh   |   23 February 2016   |   4:17 pm

00Nigeria and the Kingdom of Saudi Arabia, (KSA) have expressed commitment to a stable oil market and a rebound of oil price. This resolve formed the crux of discussion on Tuesday between President Muhammadu Buhari and King Salman Bin Abdulaziz Al Saud, on the second day of the President’s state visit to the Kingdom.

The President arrived at the Royal Terminal of King Abdel International Airport, Riyadh on Monday And was received by a high-power Saudi government delegation led by the Governor of Riyadh, Prince Faisal Bin Abdulaziz Al-Saud.

At an elaborate bilateral meeting between the two countries in Riyadh hosted by the monarch, the two leaders were united on the fact that their two economies are tied to oil and that all could not be well with both countries when then the world oil market is unstable. They, therefore, resolved to commit themselves to doing all that was possible to stabilize the market and rebound the oil price.

The two leaders who engaged in extensive discussions on regional and global issues also agreed that terrorism posed a common threat to their states and would require close cooperation to prevail over the threats.

Buhari, who commented on the invitation to join the coalition of Islamic states against terror spearheaded by the Saudi government, described the initiative as apt and expressed confidence that Nigerian government would fully support the coalition.

His words, “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),” and thanked the Saudi government for its continuing support to Nigeria in the fight against terrorism.

Buhari said that international terrorism made a statement by attacking one of the advanced countries by carrying out an attack on Paris in which 130 were killed last year. noting that now was the that all well meaning countries must have to come together to find a common solution to the problem of terrorism.

kCommenting on the post-Muammar Gaddafi Libya, Buhari regretted that the late Libyan leader recruited, trained and armed citizens of many states in the Sahel region, noting that with his fall, the mercenaries have returned to their countries, “doing nothing but to shoot and kill,” citing the cases of Burkina Faso and Mali as the main victims the President expressed relief that the countries neighboring the Lake Chad Basin have tightened their ranks to stave off the Boko Haram threat.

Besides, the President noted that with the renewed expression of solidarity within the sub region, the menace were being addressed, adding,”Luckily, we have cultivated our neighbors. We are now working together against Boko Haram,otherwise the problem would have become worse.”

The two leaders expressed the hope that the Libyan factions would soon see reason to reunite and restore fully their own country so as to save the world from further terrorism spin-offs from that country.

The leaders also focused on trade between their states and agreed to give fresh impetus to the joint commission previously established in order to boost commercial and other activities to unify their peoples.

In his remarks, King Salman commended the progress made by Nigeria in combating terrorism and promised to give further support and assistance. This is even as he welcomed the support of the Nigerian government for the new ant-terrorism coalition and implored the President to consider its full membership.

The Saudi monarch pledged his full support and cooperation to Nigeria under its present leadership and directed all agencies of his government to follow up on the discussions.

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

The President was accompanied to the talks by a delegation comprising among others, government officials and some private sector operators, including the governors Kashim Shettima of Borno,Abdulaziz Yari Abubakar of Zamfara, Ibikunle Amosun of Ogun, Rauf Aregbesola of Osun and Aminu Bello Masari of Katsina.

There were the Ministers of State for Petroleum Resources, Emmanuel Ibeh Kachikwu and his Foreign Affairs counterpart, Amb. Geoffrey Onyeama.

Some of the private sector players on the entourage of the President, included the Group Managing Director of Oando Petroleum, Mr. Wale Tinubu as well as the Chairman of Bulet Construction Company, Alhaji Ismaila Isa Funtua.




You may also like