Veteran rapper Jude Abaga, popularly known as M.I, has raised serious concerns over the source of funding in Nigeria’s music industry.
He claimed that internet fraudsters, often referred to locally as “Yahoo Yahoo” operators, fund a significant portion of the country’s creative scene.
Speaking as a guest on the popular So Nigerian podcast, M.I described the situation as an indictment on Nigeria. He said it highlights a broader issue: despite the nation’s wealth of musical talent, the industry depends heavily on external and illicit sources for financial support.
“There’s a lot of controversy when people talk about Yahoo Yahoo because that is the funding that many artists have,” M.I explained. “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.”
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He argued that Nigeria’s government, corporate institutions, and wealthy individuals must invest more in the creative sector. Currently, he pointed out, most support comes from young artists themselves. “Young people are supporting other young people financially in the Nigerian music industry at the moment,” he said.
M.I’s comments come amid ongoing discussions about the sustainability of the Nigerian music ecosystem. While Nigerian artists continue to achieve international recognition and record-breaking streaming numbers, many rely on unconventional funding streams to launch albums, fund videos, and market their music.
Industry analysts say the lack of structured financial support from local businesses and government programs remains a critical challenge. “We have talented musicians, yet the system doesn’t provide the financial backing needed to grow the industry properly,” M.I said. “That’s why people turn to alternative sources. But that shouldn’t be the case. We can do better.”
He also urged successful Nigerians who have the means to contribute directly to the industry. “If we had more local investment from wealthy Nigerians, we wouldn’t have to rely on these unhealthy funding methods,” M.I added.
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The rapper stressed that music is more than entertainment, it is a sector capable of driving economic growth, creating jobs, and promoting Nigeria’s global image. But for this potential to be fully realised, the industry needs proper funding structures and sustainable support.
M.I concluded by emphasising hope and accountability. He believes that with conscious efforts from both the private and public sectors, Nigeria can develop a music industry that thrives on creativity, talent, and legitimate investment rather than illicit funds.
As Nigeria’s music scene continues to expand globally, voices like M.I’s highlight the need for financial reforms that prioritise local talent. Without it, the nation risks stifling the very creative forces that have brought its music to the world stage.
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