D’banj has insisted that must music record companies in Nigeria are owned by ‘yahoo boys.’
He was one of the panellists who discussed the topic, ‘Changing The Game: Artistes As Leaders’ at the 2018 Social Media Week Lagos.
According to him, music record company owners in Nigeria know nothing about the music business.
He stated,“Most of the new generation record labels are founded by ‘yahoo boys.’ You must understand why you are coming into music. Nigerian artistes need a lot of capacity building. It is only in Nigeria that the owner of a record label doesn’t know anything about music.”
He also revealed that the fear of poverty made him venture into music.
“Just like any product, you must always evolve. The fear of being poor made me think outside the box. This is one of the factors that drove me into music,” he said.