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The sharp increases in the world price of oil that began in the 1970s created serious problems for oil-importing African countries seeking to expand their industrial base
from the top result below
https://kids.britannica.com/students/article/Africa/272745
Most of Africa was controlled by European countries from the 19th century until after World War II
https://kids.britannica.com/students/article/Nigeria/276094
Although it is an oil-rich country, fluctuation in world petroleum prices after the 1980s caused great economic instability in the country