MTN The Foundation said it has invested nearly 1 billion naira over the past 16 years in the Musical Society of Nigeria (MUSON). MTN Foundation Chairman Prince Julius Adelusi-Adeluyi revealed this during the 15th MTNF-MUSON Graduation Concert held at MUSON Centre, Onikan on Monday, July 4, 2022.
Speaking at the graduation concert, Adelusi-Adeluyi said, “MTN entered into a partnership with the Musical Society of Nigeria in 2006 and since then we haven’t looked back. So far, we have spent almost a billion naira to ensure that the objectives of the MUSON center are achieved. In partnership with MUSON, the MTN Foundation offers scholarships to 30 eligible young musical talents each year. The scholarship covers tuition, books and transportation and more over a two-year period. Upon graduation, each recipient is awarded an internationally recognized music degree by MUSON.
It has been revealed that the revenue of the Nigerian music industry has increased from $26 million in 2014 to $34 million in 2018. This figure is expected to reach $44 million by 2023.
Addressing the class of 2022, the MTNF Chair assured them that their future would be secure if they continued to hone their musical skills and talents with the support of the foundation.