Mr Eazi has opened up about losing a whopping ₦19 million in a failed diesel venture when he was just 19 years old.
The singer and businessman revealed that he had taken funds from his uncle, a doctor, and his wife in Nigeria to invest in a project aimed at supplying diesel to MTN.
Business dream gone wrong
He shared how his friend’s father, OC’s dad, entrusted them with his life savings about ₦19 million (nearly £40,000 at the time). Armed with the cash, they attempted to purchase diesel through agents at Apapa Port in Lagos.
However, deregulation of fuel prices struck right after they made the deal. Prices plummeted, their funds got stuck, and the MTN contract fell apart.
The harsh lesson
Mr Eazi said the loss was devastating at such a young age. Instead of reaping profits, they were forced to sell the diesel at a significant loss, with no hope of recovering the millions they had invested.
Despite disappointing his uncle and OC’s dad, he described the ordeal as a major turning point, shaping how he approached business in later years.
The painful experience, he added, laid the groundwork for his evolution into a global music and business powerhouse.
Social media reactions
Araboriota reacted: “At 19 most people are still asking parents for pocket money. Even though the business failed, the experience Mr. Eazi gained was worth more than the #19m. No wonder he built himself into a global brand later.”
Tumzy9 commented: “I never still see 19million.”
mayor_xxx wrote: “#19M gone, but the experience turned him into the man he is now.”
BhadJayy added: “19Million at 19 lol.”
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