Tue. May 28th, 2024

By Ojukwu Emmanuel Chiadikaobi

 

Multi-award-winning Nigerian singer, David Adeleke, popularly known as Davido, shed light on the diverse avenues through which his family generates income.

During an appearance on the American podcast ‘Business Untitled,’ Davido delved into his family’s business empire, highlighting their involvement in the energy sector, cryptocurrency, and culinary ventures.

Davido made a striking assertion, claiming that his family plays a pivotal role in Nigeria’s energy landscape by owning and operating four power plants. These power plants, he mentioned, contribute significantly to meeting the nation’s electricity demands, implying a substantial influence on Nigeria’s power distribution network.

Moreover, Davido disclosed his personal foray into cryptocurrency, citing Nigeria’s burgeoning interest in digital currencies. Despite his brief venture into this sector, Davido emphasized his family’s primary focus on their core businesses, notably their involvement in the energy sector.

Furthermore, the renowned singer shared plans for a culinary venture, revealing his wife’s passion for cooking and their aspiration to establish a restaurant. This diversification into the culinary industry reflects the family’s strategic approach to entrepreneurship and investment.

However, Davido’s claims regarding his family’s dominance in Nigeria’s energy sector may spark skepticism among industry experts and observers. While his family’s ownership of power plants is significant, the majority of thermal and hydropower plants in Nigeria are government-owned, raising questions about the extent of their influence in the national energy grid.

Despite the controversy surrounding his statements, Davido remains an influential figure both in the music industry and the business world, showcasing a blend of entrepreneurial acumen and creative talent. His insights into his family’s business portfolio offer a glimpse into the multifaceted nature of their investments, ranging from traditional energy infrastructure to emerging sectors like cryptocurrency and hospitality.

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