M.I has raised concerns about the financial foundation of the Nigerian music industry.
Renowned Nigerian rapper, Jude Abaga, widely recognized by his stage name M.I, has expressed concerns about the financial underpinnings of the Nigerian music industry. In a recent appearance on the ‘So Nigerian’ podcast, M.I. made a bold claim that a significant portion of the industry’s funding is being provided by individuals involved in internet fraud, commonly referred to in Nigeria as “Yahoo Yahoo” boys.
M.I. argued that it is deeply troubling and reflects poorly on the country that much of the investment in its music sector either originates from fraudulent activities or comes from international sources, rather than from legitimate domestic channels. According to him, despite the wealth of talent present in Nigeria, the lack of structured and ethical financial support for artists reveals a broader failure within the nation’s system. He emphasized that this situation should be seen as a national embarrassment, highlighting systemic issues that need urgent attention.
M.I. urged the wealthy and corporations to support rising music talents.
The rapper went on to say that the widespread dependency on such questionable funding sources exposes a serious gap in government and private sector investment in the creative arts. He believes that if Nigeria truly values its creative industry, particularly its flourishing music scene, then sustainable and legitimate funding models must be developed.
Furthermore, M.I. called upon affluent Nigerians and corporate bodies to become more actively involved in supporting emerging musical talents. He noted that, as it stands, most young artists are being financially supported only by their peers, rather than by established institutions or wealthy individuals who have the means to make a significant difference. He urged stakeholders and the elite class to recognize the potential of the music industry as a driver of economic growth and cultural influence, and to invest in it accordingly.
In conclusion, M.I’s comments serve as a call to action for both the public and private sectors in Nigeria to take responsibility and provide the necessary resources to nurture the country’s vast pool of creative talent, rather than leaving it vulnerable to unethical and external sources of funding.
