Veteran Nigerian rapper Jude Abaga, widely known as M.I., has made a startling claim that a significant portion of the country’s music industry is financed by internet fraudsters. Speaking on the ‘So Nigerian’ podcast, the acclaimed artist described this trend as a national embarrassment, emphasising that Nigeria’s creative sector deserves better funding sources.
M.I. pointed out that while the Nigerian music scene is brimming with exceptional talent, much of its financial backing comes from questionable avenues—primarily foreign investors and proceeds from fraudulent activities, commonly referred to as “Yahoo Yahoo.” He argued that this reliance on illicit and external funding reflects poorly on the nation’s ability to support its own creative economy.
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“There’s a lot of controversies when people talk about Yahoo Yahoo, because a lot of artists—that is the funding that they have. What I’m trying to say is that, it’s an indictment on our country that we have such talented musicians and that the major funding for the industry comes from the West and the fraud industry. It’s an indictment. It shows that something is wrong. Hopefully, we can do better,” M.I. stated during the podcast discussion.
The rapper called on affluent Nigerians to take a more active role in supporting the country’s musical talents. He noted that, at present, most financial backing within the industry comes from young people supporting their peers, rather than from established business leaders or institutional investors. M.I. stressed the need for systemic change, urging wealthier individuals and corporate entities to invest in the arts to foster sustainable growth in Nigeria’s entertainment sector.
