Saudi Arabia has sent an envoy to beg President Muhammadu Buhari to ensure that Nigeria’s complies with OPEC’s quotas assigned in January, by reducing its oil production output to shore up prices of the product in the global market.
The Special Envoy of King Salman Bin Abdulaziz, Custodian of the Two Holy Mosques and Minister of State for African Affairs of the Kingdom of Saudi Arabia, Ahmad Qattan, at an audience with Buhari today, Wednesday at the Presidential Villa, Abuja confirmed that he had come to make a request to President Buhari to reduce the oil production output.
He said that his country, the Kingdom of Saudi Arabia, had already reduced its own output by 1.4 million barrels per day to ensure that prices go up.
Ahmad Qattan, who delivered a goodwill message from King Salman, admitted that Saudi Arabia alone cannot bring stability to the oil market and shore up prices.
The Special Envoy called for greater adherence to production cuts by Nigeria and hoped that he would take a positive message back home.
This was even as President Buhari assured him that Nigeria will cooperate with Saudi Arabia in the effort to reduce oil output so as to attract higher prices in the global market.
President Buhari said that as a responsible member of the Organization of Petroleum Exporting Countries (OPEC), Nigeria is willing to go along with the Saudi initiative in limiting output so that prices would go up.
The President said that output cuts had always been difficult for Nigeria considering the country’s 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.”
President Buhari explained that higher oil prices will make both nations stronger and their citizens more prosperous.
He commended King Salman for his leadership in global oil matters, assuring that Nigeria will continue to accord respect to the Kingdom in that regard.