Primetime, basking in the lime

from Kanye West (Ft. Jay-Z) – Primetime Lyrics on Rap Genius

Meaning

A play on the phrase, “basking in the sun"
When referring to a limelight, you can put two and two together: Yeezy is making the most out of his time in the spotlight.

OR…
He could be referring to the phrase “basking in the ambiance”… you make the call.

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