Mr Eazi says he lost ₦19 million at age 19 after a risky diesel supply deal collapsed.
He shared that the early setback helped shape the resilience behind his later success.
Nigerian business mogul and singer Mr Eazi has revealed how a major business risk he took at a young age ended in failure.
Speaking on a UK podcast, the emPawa Africa boss explained that at 19, he borrowed ₦19 million from his uncle to supply diesel in order to seal a business deal with one of Nigeria’s top telecommunications companies, but lost it all within a few months.
Mr Eazi, who recently married billionaire’s daughter Temi Otedola, told the podcast host:
“I started the business and I took money from my uncle. He was a doctor. I took money from him and his wife in Nigeria. The business failed… So now the business has failed. I was probably 19, 20 and I took the money to go buy diesel… This guy gave a 19 years old and a 20 years old 19 million naira… The prices crash… Our money was stuck for like 3 months…”
He said the deal, which he hoped would generate big profits, collapsed after diesel prices crashed and payments he expected never came through. Therefore, resulting to him losing the deal.
