David ‘Davido’ Adeleke may not be the only owner of the private jet he claims to have bought.
“Air OBO soon land. This one nah final. Bought already… It’s not soup it’s hard work and ambition,” the ‘Ada’ singer had said on social media.
According to the TheCapital, Davido’s stake in the private jet is actually a “fractional ownership”.
The report says Davido’s financial commitment in the arrangement is minimal while the major financiers have chosen to remain behind the scenes to give the singer “conceded prominence”.
The move is said to be part of a business strategy to increase Davido’s profitability in the entertainment industry.
The arrangement, the report says, is ultimately aimed at attracting lucrative deals from multinational businesses, countries and other foreign entities.
The major stakeholders in the arrangement are said to have agreed on a sharing percentage of the prospective deals.
According to the report, several wealthy Nigerians are on a membership plan where they pay “the approximate cost of a first-class airfare” to have a private jet at their disposal.
Copyright 2021 TheCable. All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from TheCable.
Follow us on twitter @Thecablestyle