OPEC must unite to stabilise oil market ----President Buhari
(Nigeria) President Muhammadu Buhari on Sunday in Doha,
Qatar, stressed the need for member states of Organisation of Petroleum
Exporting Countries, OPEC and non members to unite and find a common ground to
stabilise crude oil prices.
A statement in Abuja by the president’s Special Adviser on
Media and Publicity, Mr Femi Adesina, said that the president stated this while
speaking at a bilateral meeting with the Sheikh Tamim Bin Hammad Al-Thani, the
Emir of the State of Qatar.
President Buhari described the current market situation in
the industry, which had seen oil prices plummet by 70 per cent since mid 2014,
as ``totally unacceptable’’.
``As members of OPEC and Gas Exporting Countries Forum, GECF,
our relations in the areas of oil and gas, which our two nations heavily rely
on, need to be enhanced and coordinated for the benefit of our people.
``The current market situation in the oil industry is
unsustainable and totally unacceptable. We must cooperate both within and
outside our respective organisations to find a common ground to stabilise the
market, which will be beneficial to our nations,’’ he emphasised.
The President noted with delight the existing cordial
bilateral relations between Nigeria and Qatar.
He, therefore, invited prospective Qatari investors to take
advantage of the abundant opportunities in Nigeria and invest in the key areas
of energy, agriculture, real estate development, banking and finance.
He assured prospective investors of government protection of
their persons and investment.
President Buhari said in the course of his visit, the
delegations from Nigeria and Qatar would formalise at least two bilateral
agreements to boost economic cooperation between both countries.
He also weighed-in on the situation in the Middle East,
commending the role Qatar was playing in resolving the present Syrian crisis,
the Palestinian course and efforts in reconstructing Gaza.
``The conflicts in Yemen and Syria, with their attendant
humanitarian crisis, need genuine international effort to solve.
``Nigeria as a peace loving country identifies with the
State of Qatar in all her peace efforts in the world to end terrorist
activities. Nigeria is a victim of terrorism. It is with heavy heart that I
stand before you and say activities of Boko Haram have led to loss of many
lives and displacement of innocent people in our dear nation.
``We, however, take pride to inform you that since our
coming to power, Boko Haram has been systematically decimated and are in no position
to cause serious threat to our development programmes.
``I wish to reiterate that Nigeria rejects violence and
extremism in all their ramifications, and assure your Highness that we are with
the State of Qatar in your efforts to fight terrorism and injustice in your
region and in the world at large.’’
President Buhari also called for a lasting solution to the
Israeli – Palestinian conflict, saying ``we in Nigeria, like the State of
Qatar, favour a ‘Two State’ solution, with the State of Palestine living side
by side with the State of Israel.
``I want to assure you that we will stand side by side with
you, until our brothers and sisters in Palestine achieve their desired
objectives. Our support for various Security Council resolutions restoring and
respecting 1967 boundaries with Jerusalem as capital of Palestine is firm and
unshaken’’.
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