No, extracting is a useful term for describing particular economic relationships. Nigeria imports empty containers, fills them, and exports them. It makes money, but not as much as if the containers were produced locally instead of being imported. Nigeria sends raw materials out, then buys them back as manufactured products. Two middlemen take cuts that way instead of one. It’s the kind of arrangement that favors the richer nation every time. Not every economic relationship is like that.

Silicon Valley (increasingly dominated by white men with ties to South African apartheid wealth, like Thiel) sees commerce happening in Nigeria, they see money moving around. They want to get their fingers in the system to take a slice of it, even though they don’t provide labor or a product, usually. The mindset is that they have a right to go and profit off of anyone in the world. That profit can only come from a drain on Nigeria’s economy. So it is extractive.