Kanye West isn’t taking rejection well and didn’t mince his words when discussing Nicki Minaj’s decision NOT to clear her 5-year-old verse for his new album … and he was fuming with frustration!!!

New footage from Ye’s “Vultures” Vegas session surfaced Friday, via The Shade Room, and it captures the megastar rapper ranting about his song “New Body,” which he wanted to put on the project.

Ye told the crowd gathered around him that he forced Nicki to write her show-stealing “Monster” verse 3x from his 2010 “MBDTF” album … and thinks he’s earned some quid pro quo respect over the years.’He joked Nicki’s stonewalling would delay the album altogether — which apparently wasn’t that funny to Ty Dolla $ign, but it doesn’t seem like Nicki is playing ball.

Nicki told her fans on IG Live last night “New Body” was old news and her main focus is promoting “Pink Friday 2” … she doesn’t want to compete with herself!!!

For more check out the latest episode of The TMZ Podcast, available on all podcast platforms.