Buhari: Why Nigeria, other developing countries are no longer powerful in OPEC

Buhari: Why Nigeria, other developing countries are no longer powerful in OPEC

President Muhammadu Buhari

President Muhammadu Buhari said technology has rendered Nigeria and other developing countries that used to be powerful in the Organization of Petroleum Exporting Countries (OPEC) powerless.

According to him, due to their production capacities, developing countries used to be powerful in the petroleum governing body, but as a result of technology, the United States no longer depends on them for her oil and energy needs.

Buhari noted this when he had audience with Special Envoy of the President of Republic of Congo, Denis Sassou Nguesso, at the State House, Abuja.

He told Jean Claude Gakosso, Minister of Foreign Affairs and Congolese in Diaspora who conveyed a special message from President Nguesso, that without social, political and economic stability, it would be difficult for any country to effectively manage its resources.

President Buhari, who noted that Republic of Congo is a medium oil producer in Africa, pledged continued collaboration with the country, “so that we can get the best for our respective countries and invest for development.”

He said the need for peace and stability so that the resources of a country could be used for the good of the people.

“Stability is critical if a country would manage its resources effectively. I am aware of the problems of our own country. We are very large, deficient in infrastructure and trying to improve on political and economic stability. In my last lap in office, I will give it my best,” he said.

Special Adviser to the President on Media and Publicity, Femi Adesina, in a statement said the Congolese president, through the special envoy, congratulated Buhari on what he called his “brilliant performance” at the recently held presidential election.

He wished Buhari wisdom and good health to enable him continue to lead his people efficiently and effectively.