Nigeria and Saudi Arabia have agreed to work together to ensure a “stable oil market” and to support a rebound in the price, a spokesman for Nigeria’s president said.

President Muhammadu Buhari is in Riyadh to discuss with Saudi Arabia’s King Salman ways to stabilise crude oil prices.

The two leaders “committed themselves to doing all that is possible to stabilize the market and rebound the oil price”, Garba Shehu said in a statement.

Both leaders admitted their economies have been hit hard by the recent oil price slump, he added.