Entertainment

Lagos Would Be Better Than London, New York If Nigeria Kept Oil Proceeds – Akon

Published by admin on November 14th, 2025.

Lagos Would Be Better Than London, New York If Nigeria Kept Oil Proceeds – Akon

Senegalese-American singer and songwriter Akon has shared his views on why Lagos State has not emerged as the world’s financial capital.

In an AI-curated video on his Instagram page on Tuesday, the 52-year-old attributed the state’s shortcomings to the Nigerian government.

The record producer, entrepreneur, and philanthropist argued that had Nigeria retained 100 per cent of its oil revenues since gaining independence in 1960, the country could have accumulated trillions of dollars.

In the video, Akon, who rose to international fame in 2004 with the release of “Locked Up” featuring Styles P, stated:

“What if Nigeria had kept 100 per cent of its oil money since 1960 instead of letting Shell and Exxon take it? We’re talking about $2 trillion that could have stayed in African hands.

“Lagos would be the world’s financial capital today, not London or New York. Nigerian universities would lead global innovation, churning out the next generation of tech giants.

“Nollywood wouldn’t just compete with Hollywood but also completely dominate global entertainment. The ripple effects get even crazier. London’s banking district would be empty as every major firm relocates to Abuja.”

Additionally, the “Akonda” crooner suggested that Nigerian passports could have also been more valuable than American ones.

He further noted that Europeans would then cross the Mediterranean for work opportunities in Africa.

“The global power structure would flip completely upside down. Instead of brain drain, Nigeria would attract the world’s brightest minds.

One decision in 1960 could have changed everything. Africa controlling its own resources changes the entire world order,” said Akon.

In the video caption, the singer emphasised that “the possibilities are endless. But it’s never too late.”