“I Borrowed ₦19 Million at 19 and Lost It in Three Months” – Mr Eazi Opens Up on His Failed Diesel Business

Nigerian singer and entrepreneur, Oluwatosin Ajibade, better known as Mr Eazi, has stunned fans with a candid revelation about his early days in business before music brought him fame. The music star disclosed that at just 19 years old, he borrowed a staggering ₦19 million from his uncle to venture into the diesel supply business, only for the company to collapse within three months. The story, which has now gone viral online, sheds light on the risks and painful lessons that often come with entrepreneurship, particularly in a country where many young people struggle to make a breakthrough in business.

Speaking about his journey, Mr Eazi explained that his business dream started when he was still in Ghana, long before the world knew him as a trailblazer of Afrobeat fusion. According to him, he spotted what he believed was a golden opportunity in the diesel supply chain, a line of business that many at the time considered highly lucrative given the rising demand for fuel to power industries, hotels, and private generators. Believing in his vision, he approached his uncle for support, and the older man trusted him enough to lend him ₦19 million, a massive sum for a teenager to handle. With the funds in hand, he launched into the venture with all the excitement of a young entrepreneur ready to make his mark.

Unfortunately, things quickly went south. Mr Eazi revealed that within just three months, the business had completely crumbled, leaving him with nothing to show for the millions invested. While he did not go into all the specifics of what caused the collapse, he admitted that lack of experience, poor planning, and the harsh realities of the Nigerian business climate played a major role. The failure was so massive that it left him devastated and questioning his choices at the time.

For many of his fans, this revelation has sparked conversations about resilience, risk, and the unpredictable nature of business. Social media has been abuzz with reactions, with some applauding Mr Eazi for his honesty and courage to share such a vulnerable part of his past, while others have drawn lessons about the importance of mentorship, financial literacy, and strategic planning before diving into high-risk ventures. The fact that such a young man had access to ₦19 million to invest at 19 years old has also stirred mixed reactions, with some Nigerians pointing out that most youths barely have access to even ₦100,000 to kickstart their dreams, while others argued that having money without experience often ends in disaster.

In his reflections, Mr Eazi did not appear bitter about the experience. Instead, he described it as a necessary stepping stone that helped shape his character and business mindset. Today, Mr Eazi is not just a music star but also a successful businessman with investments across tech, creative industries, and real estate. He has founded emPawa Africa, an initiative that supports emerging African artists with funding, mentorship, and opportunities, and has built a reputation as one of the most business-minded artists on the continent. His resilience after that early failure is now seen as a blueprint for young people who often find themselves discouraged after setbacks.

What stands out in Mr Eazi’s story is not just the size of the loss but the age at which it happened. At 19, many young people are still figuring out university life or chasing academic dreams, but Mr Eazi was already thinking of multimillion-naira ventures. His willingness to take risks at such a young age, even if it ended in failure, highlights a bold entrepreneurial spirit that has clearly followed him throughout his career. It also underscores the fact that failure, while painful, is often an integral part of success.

Industry watchers note that his transparency about the failure comes at a time when conversations around entrepreneurship in Nigeria are often painted with glamour, with many young people on social media showcasing only their wins and hiding their losses. By admitting that he lost ₦19 million in just three months, Mr Eazi has reminded many that business is not a straight line and that resilience after failure is often more important than the failure itself. His story also resonates with countless young Nigerians who have seen their business dreams collapse under the weight of inflation, unreliable power supply, inconsistent government policies, or lack of access to sustainable capital.

The reactions online have been varied, with some praising his uncle for taking such a huge risk on him despite his young age, while others argued that giving such a massive sum to a teenager without prior experience was a recipe for disaster. Some Nigerians have also turned the story into a motivational piece, pointing out that if Mr Eazi could recover from such a devastating financial setback and still build an empire for himself, then there is hope for every struggling youth out there. A number of fans also humorously noted that if they had lost ₦19 million at 19, they might never have recovered from the shock, highlighting the mental resilience it must have taken for the singer to move forward after the collapse.

Beyond the jokes and debates, the story highlights a wider reality: that failure is often the seed of future success. Many of the world’s greatest entrepreneurs, from Steve Jobs to Elon Musk, experienced devastating failures before building iconic companies. Mr Eazi’s confession is therefore not just a personal story but part of a larger narrative about how setbacks can prepare individuals for bigger wins. It also reflects the tough road many Nigerian youths face in a country where entrepreneurship is often seen as the only way out of unemployment, yet the odds are stacked against them due to systemic challenges.

Today, Mr Eazi stands as one of the most respected voices in the African music industry. His unique blend of music, his vision for supporting African talent, and his investments in diverse sectors all point to a man who has truly learned from his past. His failed diesel business may have lasted only three months, but the lessons from it appear to have lasted a lifetime. By sharing his story, he has not only humanized his journey but has also given encouragement to millions of young people who are afraid of failing or who are currently dealing with setbacks of their own.

As one fan wrote on X, “Losing ₦19 million at 19 would have killed many people’s dreams, but Mr Eazi used it as fuel to build an empire. That’s what true resilience looks like.” Another fan added, “It’s not about the failure, it’s about what you do after. Mr Eazi failed big but bounced back even bigger.”

The story of Mr Eazi’s failed diesel business is a powerful reminder that success is rarely a straight road. It comes with bumps, crashes, and lessons that shape the eventual victory. And in sharing his truth, Mr Eazi has not only inspired countless young people but has also left a message that will continue to resonate: failure is not the end, it is just the beginning of another chapter.