3 ms·

My understanding is that foreign oil companies make the vast amount of the profits and that most Nigerians don't much of any of the bounty. https://phys.org/ne

• boeingUH60 4y ago
  We have a state-owned oil company called the Nigerian National Petroleum Commission (NNPC), but it is led by corrupt dunces that have no clue of what they're doing, so they've missed out on the recent oil boom that would have brought a lot of foreign exchange and strengthened our economy. Picture this; we are Africa's largest oil exporter but have no local refinery. In other words, we get foreign exchange for selling oil then turn back and use those dollars to acquire end products instead of manufacturing those products by ourselves. We are corrupt and useless just like every other African country.