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Oil price stability high on agenda as President Buhari visits Saudi Arabia, Qatar

President Muhammadu Buhari will begin a week-long official visit to Saudi Arabia and Qatar tomorrow, Monday, February 22, 2016.

President Buhari, who will be accompanied by a high-powered Federal Government delegation, including the Minister of State (Petroleum) and Group Managing Director of the Nigerian National Petroleum Corporation, (NNPC), Dr. Ibe Kachikwu, will first fly to Riyadyh for talks on Tuesday with King Salman Bin Abdulaziz Al Saud and senior officials of the Kingdom of Saudi Arabia.

Ongoing efforts by Nigeria and other members of the Organisation of Petroleum Exporting Countries (OPEC) to achieve greater stability in the price of crude oil exports are expected to be high on the agenda of discussions between President Buhari and the Saudi Monarch.

Crude oil prices and market stability will also be on the front burner when President Buhari goes on to Doha on Saturday for talks on Sunday with the Emir of Qatar, Sheikh Tamim bin Hamad Al Thani.

The President is also scheduled to meet with leading Saudi and Qatari businessmen in Riyadh and Doha, and invite them to support his administration’s efforts to revamp the Nigerian economy by taking advantage of the great investment opportunities currently available in Nigeria’s mining, agriculture, power supply, infrastructure, transportation, communications and other sectors.

President Buhari’s other engagements in Saudi Arabia include meetings with heads of international financial organisations and multilateral associations.

Before going on to Doha, the President will also visit Medina and Mecca to pray for greater peace, prosperity and progress in Nigeria.

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