Nigeria and Angola have agreed to cooperate with each other and also to reach out to other oil producing countries in an effort to shore up the dwindling price of oil in the global market.
This understanding was struck when Nigerian President Muhammadu Buhari and his Angolan counterpart, Jose Eduardo dos Santos met at the sidelines of the Summit of the Forum on China-Africa Cooperation (FOCAC) in Johannesburg, South Africa on Saturday.
President Buhari, who agreed with President Eduardo dos Santos that there was no logic in producing more oil for less money, called for a new consensus among oil producing nations on the current level of oil price.
The two leaders while acknowledging that their countries depend heavily on oil for sustaining their national economies, agreed to get their oil ministers to meet urgently with a view to finding a way forward.
