Singer and entrepreneur, Mr Eazi, has opened up about a major setback early in his business journey, revealing how he lost ₦19 million in a failed diesel business at the tender age of 19.
According to Mr Eazi, the ambitious venture was financed using money borrowed from his uncle, a doctor, as well as contributions from his wife and friends in Nigeria. The plan was to supply diesel to MTN, a lucrative deal that promised significant returns if successfully executed.
Business dream gone wrong
Mr Eazi shared that his friend’s father, OC’s dad, trusted them completely and even handed over his life savings, amounting to around ₦19 million at the time, equivalent to nearly £40,000. The team moved forward with the plan, attempting to secure diesel through agents at the Apapa port in Lagos.
However, the timing was disastrous. Deregulation of fuel prices occurred just as they had purchased the diesel. The price crash meant that their investment was trapped, and the anticipated MTN supply deal could not be fulfilled. The setback was a harsh reality check for the young entrepreneur, who had invested so much hope and effort into the venture.
The harsh lesson
Reflecting on the experience, Mr Eazi recalled the difficulty of losing such a significant sum at a young age. Instead of making profits, the team had to sell the diesel at a loss, leaving no room to recover the millions invested. While the situation was painful and disappointing for the investors involved, including his uncle and OC’s dad, Mr Eazi emphasized that the experience became a turning point in shaping his business acumen.
He described the setback as a “bitter but valuable lesson” that influenced his growth as a global music and business brand. Despite the loss, the experience instilled in him a stronger entrepreneurial mindset and a resilience that later contributed to his success in the entertainment and business sectors.
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 added: “I never still see 19million.”
mayor_xxx wrote: “#19M gone, but the experience turned him into the man he is now.”
BhadJayy commented: “19Million at 19 lol.”
The failed diesel deal remains one of the most talked-about moments in Mr Eazi’s early career, demonstrating that early losses can sometimes lay the groundwork for future success. The entrepreneur’s transparency about the setback has been widely praised, with fans appreciating his honesty and resilience.
Watch the video below…
"At 19 I borrowed ₦19 million from my uncle to go into Diesel business, three months later the business crashed and I lost the whole ₦19 million"
— Mr. Eazi. pic.twitter.com/2JWkRzCK3S
— 𝐀𝐬𝐚𝐤𝐲𝐆𝐑𝐍 (@AsakyGRN) September 22, 2025