The Afrobeats star, Mr. Eazi, has revealed how once lost an amazing ₦ 19 million in a failed company of diesel supply before finding fame in music.
Speaking at the Baby Show of the 90s, the singer said that the incident occurred when he was only 19 years after borrowing his uncle’s money, a doctor and his wife, hoping to supply diesel to the telecommunications giant, MTN.
“I started this business and took money from my uncle and his wife. The plan was to supply Diesel to MTN, but failed,” he recalled.
Eazi explained that money represented his uncle’s life savings, which made the loss even more difficult to bear. According to him, after paying the diesel, a sudden political deregulation policy eliminated the fuel subsidy, which caused prices to crash and leave their capital tied for months.
Also read: Instagram reaches three billion monthly users
“But then they had done fuel deregulation, so prices crashed, and our money probably stuck for three months. When they released the diesel, the MTN agreement was gone and we had to sell with losses,” he said.
Despite the great setback, the singer described him as one of his first commercial lessons, long before his eventual promotion to global recognition as a musician and investor.
Also read the main stories of Nigerian Tribune
Watch the best Nigerian Tribune TV videos