Courtesy Dangerous Minds: Biande Ologunde is a mask-wearing Nigerian singer and saxophonist who goes by the name Lagbaja ("anonymous" or "faceless one") and sings his Afrobeat music (at least in this song) in a Yoruba-English creole.
You can pretty much get the gist of what's he's singing about from the video, but following along with the lyrics helps decipher the words a bit. Basically: why do we have to copy American hip-hop fashion -- gold chains, tooth caps, tattoos, big cars? According to a Nigerian Pidgin dictionary I found, panda is slang for cheap, gold-plated jewelry.
Love the choreography.
Here's a taste of the lyrics:
Because of panda
Wey I no' dey wear
Them say I no' dey bling
Ordinary panda o - Eeeee Panda
Because designer
Wey I not dey wear
Them say I not dey cool
Ordinary panda o - Eeeee Panda