Meaning
'I am on it' — I'm handling it right now, an assurance that a task is actively being dealt with. 'Deh pon' literally frames the speaker as being upon the matter, stressing present, ongoing effort, so 'mi deh pon it' promises that the thing is in hand and moving forward. Reassuring and businesslike, it is the everyday way of telling someone their request or the job is under way, that you are engaged with it this very moment and they need not worry.
Examples
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Yuh fix di problem yet? Mi deh pon it right now.
Have you fixed the problem yet? I'm on it right now.
'deh' is the locative/continuous marker, 'pon' means on/upon.
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Nuh badda stress, mi deh pon it fram morning.
Don't stress, I've been on it since morning.
Shows sustained effort over time.
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Di money soon come, mi deh pon it.
The money is coming soon, I'm working on it.
A reassurance that action is underway.
Origin
From 'deh' (to be at/there, of uncertain African-influenced origin) + 'pon' (English 'upon') + 'it'.
How it’s used
Everyday reassurance in work, hustling, and favours. Can be used to buy time, so context tells whether real progress is being made.