Yes, that was totally Nelly introducing Alicia Keys at the MTV VMAs, which are being held right now in Las Vegas. In true Lou form, he was sporting a plain white T-shirt and holding a plastic cup of beer. Right on!
(For the record, Alicia Keys is right now singing terribly off-key, with a side of hoarse. While wearing this horrendous Fame-style sweat/headband, horrible fake eyelashes and really unflattering pants/silver moon boots. At least her hair looks good. What happened otherwise, Ms. Keys?)