Hip-hop veteran Jude Abaga, popularly known as M.I Abaga, has criticised the financial structure sustaining Nigeria’s music industry, warning that its heavy dependence on questionable and external funding paints a troubling picture of the nation.
Speaking on the So Nigerian podcast, M.I. lamented that a significant portion of investment in Nigerian artists originates either from foreign benefactors or individuals linked to internet fraud. He described this reliance as a national shortcoming, especially given the country’s abundance of creative talent.
According to the One Naira hitmaker, many emerging musicians receive support from their peers rather than established investors or credible local sponsors. He urged wealthy Nigerians to play a more active role in nurturing the country’s musical talent.
“There’s a lot of controversy when people mention Yahoo Yahoo,” he said. “But the truth is, for many artists, that’s the funding they have. It’s an indictment on us as a country that such a vibrant industry is powered mostly by the West and the fraud economy. That means something is broken. We must do better.”
