The World Bank Tried To Bully Dangote, Then This Happened...

For decades, Nigeria did something that made no economic sense but continued anyway. And it’s not just Nigeria, most oil-rich subsaharan countries like Angola, also practice this trade. Anyway, so Nigeria pumped crude oil out of its own ground, loaded it onto ships, and sent it to refineries in Europe. Those refineries processed it into petrol, diesel, and aviation fuel. Then they loaded it back onto ships and sold it back to Nigeria. Nigeria paid for the shipping twice, paid for the refining in the middle, and then bought back its own oil at a price that foreigners set. That arrangement made some people very wealthy and none of them—were—Nigerian. And the moment Aliko Dangote built something that threatened to end it, the resistance began. Subscribe! Contact Us: [email protected] Disclaimer: our thumbnails are for illustrative purposes. #nigerianews #ghananews #nigeriaeconomy #worldbank #africannews #tinubu #usanewstoday #forbes