As we all know, music is a lucrative talent and it is also fast growing in Nigeria. So, we are going to be looking the list of top 10 richest musicians in Nigeria
In Nigeria, popular musicians such as P-square, 2Face, Wizkid, Davido, Flavour, Olamide, Flavour and so on, charge millions of Nigeria Naira for performance services. These musicians perform both locally and internationally. Also, they currently have other investments which generate money for them apart from their musical career. However, this article is specifically written to answer the question, “who is the richest musician in Nigeria?”
Note: the list start from the richest, and then roll down to the 10th in position.
Below are the top 10 richest musicians in Nigeria according to ‘Forbes’:
1. Davido – Net worth estimated to be N9billion.
David Adedeji Adeleke popularly known as Davido is arguably the richest musician in Nigeria according to his assets and Net worth.
Davido is one of the best musician and he has gone to many local and international musical concerts over the last couple of years and all his concerts sold out.
Davido makes his money mostly from ‘shows’ and by endorsement deal with big brand companies in Nigeria like: MTN-Nigeria, mobile network provider; AXE, a popular perfume brand; Infinix, mobile phone company and many more.
In April 2018, Davido bought N45million new Porsche car for his girlfriend, Chioma on her birthday.
Davido popularity started in 2011 when he released the hit single, “Dami Duro” which was well-received throughout Nigeria.
2. Wizkid – Net worth estimated to be N8 billion.
Ayodeji Ibrahim Balogun popularly known as ‘Wizkid’ is one of the richest musicians in Nigeria. Wizkid, a young Nigerian Artist who has actually made it in his music career. He has won so many top awards. He partners with SONY Records and he is also the boss of STARBOYS Record label. He was nominated for Grammy Award in 2017.
Wizkid signed a one-year endorsement deal with Pepsi in 2012 which reportedly worth $350,000.
In 2013, Wizkid signed a endorsement deal with MTN-Nigeria and Guinness World of More concert.
In 2015, he signed endorsement deal deal of N128million deal with Glo.
3. Don Jazzy – His Net worth is estimated to be N7.5billion.
Michael Ajereh Collins popularly known as Don Jazzy is among the top music producer in Nigeria. He was the richest music producer in 2017.
Don Jazzy is the boss of the top Record, MAVIN, which has stars like Tiwa Salvage, Iyanya, D’ija, Korede Bello etc.
Over the years, Don Jazzy moved from being a beatmaker to a full-fledged businessman.
4. D’banj – His Net worth is estimated to be N6 billion.
D’banj is one of the richest musician in Nigeria. The Koko Master makes his money mostly from ‘Shows’ and tours both locally and internationally.
D’banj is also an ambassador to top brands. His brainchild CREAM Platform was valued in 2017 by an American firm to be worth about $100,000,000.
His first endorsement deal was with Power Fist, energy drink.
In September 2015, D’banj became the brand ambassador of SLOT, a popular mobile phones dealer in Nigeria.
5. 2Baba or 2Face Idibia – his Net worth is estimated to be N5.9 billion.
2Baba is a music legends in Nigeria. He makes his money mostly from music shows and endorsement deal with big brands.
2Face has endorsements with Glo and Campari. He is allegedly the owner of Rumours, a popular night club in Lagos.
6. P’square (Peter and Paul Okoye) – Net worth is estimated to be N5.6 billion each.
The twin duo Peter and Paul were members of the defunct R&B. They make their money mostly from album sales, shows, tours and endorsement deal. Although they currently have their individual brands but we have decided to group them together because their Net worth is almost the same. They won the KORA award for Best African Artiste in 2010 which fetched them N150million. These twin duo are highly respected not only in Nigeria but also globally. Currently, Peter Okoye goes by the stage name of Mr P while his twin brother, Paul goes by the name Rude Boy.
7. Timaya – His Net worth is estimated to be N4 billion.
Enitimi Alfred Odom popularly called Timaya is like a lion in his own Jungle and has to be name as one of the top musicians in Nigeria.
Timaya repordly charge around N8 million as performance fee at events.
Timaya signed endorsement deals with the Globacom and Hennessy which worth several millions of Naira.
8. Banky W – His Net worth is estimated to be N3.5 billion.
Olubankole Wellington popularly called Banky W. He is EME Music Record boss. Banky W is also a brand ambassador of Etisalat and Samsung for west African region. He is also into actor in film production and public speaking.
9. Olamide – His Net worth is estimated as N3 billion.
Olamide is popularly called “Baddo”.
Olamide is also among the richest musician in Nigeria. He is the brand ambassador of popular brands like Hennessy and Glo.
In 2013, Olamide became the first Nigerian to sign an endorsement deal with Cîroc. His performance fee is between N6 and N10 million. He often runs a yearly tour across UK, Europe, and America.
10. Flavour – His Net worth is N3billion.
Flavour N’abania is one of the richest musicians in Nigeria according to his estimated Net worth. He is the brand ambassador for Flat tummy tea, a weight loss company, Bullet, an energy drink and MTN, one of the major telecoms companies in Nigeria.
His real name is Chinedu Okoli, he was from Enugu State. His journey into music can be traced to his time as a drummer at his local church.
At that time, he was a young boy living in Enugu State. Flavour became popular when he released the hit song, “Nwa Baby” (Ashawo Remix)’ in 2005. During this period, he released his first album titled, ‘N’abania’. After five years, he released his second album, ‘Uplifted’.
His second album was hugely successful making the singer one of Africa’s most sought out artists.
Flavour is known to be the king of latest high life music in Nigeria. In fact, Flavour performed at numerous concerts and social events following the release of the Uplifted album.
Currently, Flavour charges between 3 and 5million Naira to perform in an event.