Nigeria will consider cutting oil supply to attract higher prices, Buhari tells Saudi Arabia


President Muhammadu Buhari on Wednesday in Abuja pledged the cooperation of Nigeria to the effort of oil-producing nations to reduce output to attract higher prices in the global market .

A statement by Garba Shehu , Media and Publicity Aide to the President , said Buhari made this position known when he received Mr Ahmad Qattan , Minister of State for African Affairs and Special Envoy of King Salman Bin Abdulaziz of Saudi Arabia .

In the statement , the president said that Nigeria was , as a responsible member of the Organisation of Petroleum Exporting Countries, willing to go along with the Saudi initiative of limiting oil output to push up prices.

He said that output cuts had always been difficult for Nigeria considering its peculiar circumstances of large population, huge expanse of land and state of under -development , adding , “ I wish we can produce more .

“ I have listened carefully to the message . I will speak with the Minister of State for Petroleum. I will call for the latest production figures.

“ I know that it is in our interest to listen . We will cooperate . ”

He said that higher oil prices would make both nations stronger and their citizens more prosperous.
Buhari commended the Saudi monarch for his leadership in global oil matters , assuring that Nigeria would continue to accord respect to the Kingdom in that regard .

Earlier , the Special Envoy had said that he brought special greetings from King Salman and the Crown Prince , and expressed their best wishes for Nigeria as the country prepared into general elections.

Qattan said that the important reason for his mission was to make a request to Buhari to ensure that Nigeria complied with quotas assigned in January by exiting previous exemption from output cuts .
According to him , Saudi has reduced its own output by 1 . 4 million barrels per day to ensure that prices go up .

He, however, pointed out that Saudi Arabia alone could not bring stability to the oil market and shore up prices.

The envoy called for greater adherence to production cuts by Nigeria and expressed hope that he would take a positive message back home .

44 thoughts on “Nigeria will consider cutting oil supply to attract higher prices, Buhari tells Saudi Arabia<script async src="//"></script> <script> (adsbygoogle = window.adsbygoogle || []).push({ google_ad_client: "ca-pub-2771087693479384", enable_page_level_ads: true }); </script>”

  1. Hello, i think that i noticed you visited my web site thus i came to “return the favor”.I’m trying to find things to enhance my website!I assume its good enough to make use of a few of your ideas!!

  2. I just couldn’t depart your web site prior to suggesting that I really loved the standard information an individual provide for your visitors? Is going to be again continuously in order to check up on new posts

  3. I do like the manner in which you have framed this specific matter and it does indeed give me some fodder for consideration. On the other hand, through what I have experienced, I simply wish as the reviews stack on that people remain on point and in no way embark upon a tirade associated with the news of the day. Anyway, thank you for this excellent point and though I can not agree with it in totality, I value your point of view.

Leave a Reply

Your email address will not be published. Required fields are marked *