Jay Z -- Meet My Replacement -- He's Only 12!!


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Jay Z just gave a 12-year-old kid the chance of a lifetime ... and the kid delivered.


Jay discovered the pint-sized rapper sitting in the crowd at his "Magna Carter World Tour" concert Sunday in Greensboro, NC -- he was holding a sign that read, "Can I rap for you?"


Jigga pulled the lil' guy up on stage ... and the kid laid down a crazy rap.


We're a little suspicious ... this could have been a prearranged type thing ... not sure.