Nigeria and Angola on Saturday agreed to cooperate and also reach out to other oil producing countries in an effort to shore up the dwindling price of oil in the global market.
Mr Femi Adesina, Special Adviser, Media to the President said in a statement on Saturday that the understanding was struck when President Muhammadu Buhari and his Angolan counterpart, Jose Eduardo dos Santos met on the sidelines of the Forum on China-Africa Cooperation (FOCAC) in Johannesburg, South Africa.
Buhari agreed with President dos Santos that there is no logic in producing more oil for less money and called for a new consensus among oil producing nations on the current level of oil price.
The two leaders acknowledged that their countries depend heavily on oil for sustaining their national economies and agreed to get their oil ministers to meet urgently with a view to finding a way forward.
President dos Santos earlier thanked President Buhari for sending a delegation to his country’s 40th Independence anniversary this year.
He also expressed sympathy with Nigeria on its security challenges, noting however, that he believed that Buhari is the right person to restore peace to Nigeria given his military background.
He described Nigeria as a very important country in Africa that is traditionally looked upon to help solve problems on the continent, anf that his country and Nigeria, which share similar security and oil challenges in the Gulf of Guinea must forge closer relationship to overcome the mutual problems.
Dos Santos said he looked forward to meeting President Buhari again and invited him to visit Angola next year with a view to finding solutions to common problems and deepening bilateral relations.
-Leadership
