Oil Wealth

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    Africa’s Most Populated Nation Getting Nothing out of Massive Oil Wealth

    Africa’s Most Populated Nation Getting Nothing out of Massive Oil Wealth

    Africa’s most populated country is getting nearly nothing from its massive oil wealth. While headline Brent-crude futures have rallied sharply in the past few weeks — growing above $30/barrel Tuesday — an excess of Nigerian oil is fetching about $10 less than that. It’s a stage that means fiscal income for the continent’s biggest economy has cratered. “It’s now dawned…

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