M.I Abaga says much of Nigeria’s music industry funding comes from internet fraud and foreign sources.
He calls for legitimate local investment to support young talents and secure the industry’s future.
Veteran rapper Jude Abaga, popularly known as M.I, has made a claim about the financial backbone of Nigeria’s music scene, revealing that internet fraudsters are responsible for funding a significant portion of the industry.
Speaking on the So Nigerian’ podcast, M.I said it was troubling that much of the capital supporting Nigerian music comes either from the West or from proceeds of online fraud. He described this as a damning reflection on the country’s inability to properly invest in its creative sector.
“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,” he said.
The rapper urged wealthy Nigerians to contribute more to the growth of the creative space, stressing that at present, young people are largely the ones supporting fellow young talents financially. He called for a shift toward legitimate and sustainable funding to secure the future of the industry.
