Oil Wealth

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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…