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Drake is crowning Lil Wayne and Nicki Minaj as the best to ever do it in rap -- and in NM's case, particularly, seems to be throwing a little shade at her contemporaries.

The OVO chief was performing in Toronto Saturday during the Young Money Reunion Tour ... and Drake took several moments during the set to pay his respects to Weezy -- who's credited with finding both he and Nicki all those years ago and getting their careers started.