The first line in Verse 1 should say “Impala”, not Ipala.
Royce is saying that he’s making a comeback, while listening to Nickelback (Nickel, Royce’s nickname, Back, comeback)
Comparing them to the verses of the Bible
The first verse is performed by Ludacris, not Ludacri

In the 14th line, the lyrics are “Been around the block, been around the ‘burbs”
I believe that the quote points out that all black people think they can do is dance or play basketball, even though they have greater potential.