Podcasts · Elephant Memories History Podcast
Trailer: How Nigeria Got Rich Quick During its 1970s Oil Boom (Next Episode)
· 2:16 · Trailer
Episode Trailer: How Nigeria Got Rich Quick During its 1970s Oil Boom (Next Episode)
A few excerpts from the next episode (which will be released on 1st November). Nigeria’s potential seemed limitless in the 1970s. In that decade, Nigeria’s earnings from crude oil increased by over 5000%! Nigeria became rich beyond its wildest dreams. A British TV documentary announced that “Beverly Hills had arrived in Nigeria”. This episode examines how Nigeria dealt with extravagant but unplanned wealth, and how oil money transformed Nigeria for better and for worse. It created a national addiction for ostentatious living, increased corruption, politicised its military, and made its politics cut-throat. Nigeria learned that governing a rich country was harder than governing a poor one.
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