In the 1980s, Hiney. And re a black player. This, to my knowledge, has never been applied to a white player, based on the colour of his skin.
I can't imagine Lukaku is sat there thinking "Yay, loads of white people think I have a huge cock" when he knows they're only singing it because he's black.
Soon as I heard it, I pictured Jennifer Taylor-Clarke from The Office dishing out a blocking to David Brent for making a joke on a similar subject.
Must admit, it made me slightly uncomfortable when I saw it on Twitter the other day. Sure, there are more vicious forms of abuse out there, but...