Veteran Nigerian rapper M.I Abaga has claimed that a significant portion of the financial backing fueling the Nigerian music industry originates from the proceeds of internet fraud, popularly known as “Yahoo.”
Speaking on the So Nigerian Podcast, M.I described this as a troubling reality, pointing to it as a symptom of deeper issues in the way Nigeria supports its creative industry.
I was listening to MI’s interview on The So Nigerian Podcast, and he said something about funding and support for the entertainment industry that made me think seriously about how important it is for wealth to be in the hands of the right people in a society.
— Blue Octopus (@PelumiK) August 8, 2025
According to him, the lack of structured investment and institutional support for artists has left room for questionable sources of funding to fill the gap. He stressed that while the success of Nigerian music is celebrated globally, the country must also address the ethical and systemic challenges underlying its growth.
source: 3news
