Lupe Fiasco 'waiting on record company for new album release'

Lupe Fiasco has revealed that the release of his new album is now in the hands of his label Atlantic Records.

The 'Words I Never Said' rapper's fourth studio album Food and Liquor II: The Great American Rap Album is set for a 2012 release.

"The Lupe album is [coming out] hopefully. It's not on me," he revealed during a New Year's Eve party in Hollywood, reports The Boombox.

"It's not done yet. I'm waiting on my record company, ain't nothing changed. Same business, it's on them."

On Thanksgiving, Fiasco released his mixtape Friend of the People as a 'thank you' to his fans.

Fiasco previously sparked controversy when he called US President Barack Obama a "terrorist".

"In my fight against terrorism, to me, the biggest terrorist is Obama, and the United States of America," he said. "I'm trying to fight the terrorism that's actually causing the other forms of terrorism."

Watch the music video for 'Words I Never Said' by Lupe Fiasco below: