MI Abaga Reflects on Luxury Car Prices

MI Abaga Reflects on Luxury Car Prices, Saying “The Cars Davido and the Rest Are Buying for ₦100–200 Million Were ₦20 Million in Our Time.”

Veteran Nigerian rapper and music executive Jude “M.I.” Abaga has sparked conversations with candid remarks on how dramatically the cost of luxury cars has risen in Nigeria, driven by inflation, naira depreciation, and shifting market realities.

In a recent interview, Abaga observed: “The cars that Davido and the rest are buying now for ₦100 million, ₦200 million now, in our own time, we were buying those same cars for ₦20 million.”

The comment places the flashy vehicle collections of current Afrobeats stars like Davido in historical context. Abaga, who rose to prominence in the late 2000s and early 2010s with hits and a reputation as one of Nigeria’s leading lyricists, noted that what once represented elite status at relatively accessible (for the top tier) prices has become far more expensive in nominal naira terms.

He framed the observation within a broader discussion of personal priorities and career perspective. Abaga emphasized that he is not competing with artists currently in their commercial peak, such as Davido or Wizkid. “I’m not Davido, I’m not Wizkid. They are in the red-hot moment. I’m MI,” he said, adding that he still values his craft, fan base, and ability to keep working without feeling diminished.

On lifestyle, he described a deliberate downsizing. He once owned six large luxury cars but now keeps a more modest setup of two smaller vehicles for himself and his wife. Priorities have shifted toward practical needs, supporting staff, and living realistically in Nigeria, where many people face genuine financial pressures. High-status spending, such as expensive first-class tickets or ultra-high-end cars, no longer holds the same appeal for him.

The remarks have circulated widely on social media and entertainment platforms, with many interpreting them as a straightforward acknowledgment of economic change rather than criticism. Nigeria’s currency has lost significant value over the past decade-plus, and the landed cost of imported luxury vehicles (duties, shipping, and dealer markups) has climbed accordingly. Cars that once carried price tags in the tens of millions of naira can now easily reach or exceed ₦100–200 million, and far higher for the rarest supercars and ultra-luxury models in current collections.

Abaga’s comments serve as a reminder of how the economics of success in Nigerian entertainment have evolved. Earlier generations of stars achieved visible markers of wealth at lower nominal prices; today’s top acts operate in a higher-cost environment shaped by inflation and currency dynamics. At the same time, his reflections highlights a personal recalibration: relevance, skill, and practical responsibility matter more to him now than matching the scale of current high-end flexes.

The conversation continues online, with listeners weighing the realities of generational timing, economic shifts, and what “success” looks like across different eras of the industry.