@newslionsa: How can Nigeria have massive oil reserves AND widespread poverty? It’s Africa’s biggest oil producer but over 60% of Nigerians live below the poverty line, according to the World Bank. US preacher Khalid Yashin blames foreign multinationals, who were the main beneficiaries of the nation’s black gold for decades. And says the petrodollar system saddled the country with a depreciating currency. His lecture is a few years old, and things have changed a bit since then. Local companies now account for around half of Nigeria’s crude oil production. And the Dangote petroleum refinery in Lagos is one of the world’s biggest. But when will this shift lift people out of poverty? #Nigeria #oil #economy #colonialism #AfricaWakeUp

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Wednesday 21 January 2026 12:07:28 GMT