The legendary Nigerian comedian, Ali Baba, has shed light on the extravagant spending habits of a well-known Nigerian musician who squandered over N1.5 billion on a lavish and frivolous lifestyle instead of making strategic financial investments that could secure his future.
Ali Baba made this revelation while speaking during a recent episode of the Eden Oasis Realty podcast, where he detailed how the musician, after receiving significant earnings from multiple performances, chose to indulge in luxury items rather than invest in assets that could provide long-term benefits.
According to Ali Baba, the musician was paid N400 million for a performance in Dubai and received an additional N500 million for another international gig.
Instead of making strategic investments, the artist indulged in a luxurious lifestyle, spending the vast sum on a Maybach, another luxury car, expensive jewellery, and a lavish shopping spree.
Ali Baba emphasized that in less than two months, the musician had burned through more than N1.5 billion. The comedian expressed disappointment, pointing out the various investment opportunities that could have been explored, such as purchasing land, building a recording studio, or even constructing an event centre that could generate long-term income.
Ali Baba on how a singer wasted N1.5bn on frivolities
“I told a musician, a very top musician, if he hears this he would know he is the one I am talking about. He went to play in Dubai; they paid him nearly N400 million; he went to play in another International event, and they paid him about N500 million.
“The next thing, he has a Maybach, has another car and goes on a spree with jewelry and all other things. And in less than two to six months, he has done about 1.5 billion.
“He would have bought land, done an event, and put a powerful studio upstairs. People will come there and shoot and do their music thing, and the venue will bring enough money to buy anything he wants to buy. Then it was time for him to get married, and he had to use a hall. But if he had built the hall, he wouldn’t have needed to spend the money for the hall.
“Asake wanted to do his concert in London. He applied to a bank and says, “I need a loan of 1 billion, I want to organize a concert in London. They wouldn’t give him because he is an Asake right?
“A car dealer goes to the bank and says, “he wants to import 12 cars”, they would give him the money, he would bring the cars in and put it in the shop. He can’t sell them in one week. The cars will be in the shop for sometimes six months, one year, he still hasn’t sold some of those cars. Asake’s concert is one day, he will make two billion”.
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