Here’s a list of the richest musicians in Nigeria 2018. These naija artistes have been around for several years and has made an imprint in the Nigerian music world.
Some of these naija musicians have gone out wide to become recognized internally international artistes with global recognition. This list of the richest musicians in Nigeria is an upgraded list artistes who made top 10 in previous lists may not be succinctly listed to be so rich as they were on the list.
Their wealth cannot be estimated accurately as some of them in reality hardly can determine it, but from competent sources outlets Forbes, Vanguard, Therichest, Bloomberg and Naija.ng (NAIJ), the list of richest musicians in Nigeria has come into a reality. Here’s our list of top 10 musicians in Nigeria 2018…
Top 10 Richest Musicians in Nigeria & Their Net Worth:
10. Phyno — Net Worth: $10 Million Dollars
Phyno is a Nigerian Indigenous rapper with one of the best flows lyrically with an estimated net worth of $10 million dollars. Phyno is probably the best Igbo rapper known in the country. He has millions of followers and wannabe rappers who conceive as their role model.
The rapper earns a lot from endorsement deals signed with companies, personal business deals and music sales. His endorsement deals include a N50 million deal signed with Airtel Nigeria in 2014, a multimillion naira brand ambassadorial deal with NairaBet, and also, Guiness Nigeria.
Phyno’s booking fee run into a few million naira and he runs a couple of private business deals which in turn translates into good money for the rapper. Phyno has released hit singles and collaborated with several musicians in Nigeria, including Olamide, and Ghana-based Nigerian music act, Mr. Eazi. He’s one of the top 10 richest naija musicians currently.
9. Banky W — Net Worth: $11 Million Dollars
Banky W is a model and music mentor, he starred in the now popular and booming play by Ayo Makun titled The Wedding Party wherein he was engaged and married to Adesua Etomi, a Nigerian actress and his wife in reality. Banky W has properties worth millions of naira and he is the CEO of EME.
He has signed multimillion naira endorsement deals with mega brands including Samsung and 9Mobile (previously Etisalat). Banky W has an estimated net worth of $11 million dollars.
His multimillion naira endorsement deal with Ciroc is still one to be remembered and reckoned. Banky W mentored a few booming artistes including Skales and Wizkid, who now has his record label, StarBoy Records, and has gone international musically. He’s really influential in the Nigerian music industry and is one of the richest artistes in Nigeria.
8. Olamide — Net Worth: $12 Million Dollars
Olamide is a Nigerian Indigenous rapper with an estimated net worth of $12 million dollars. He’s one of the highest paid Nigerian artistes and also one of the richest. Olamide is widely known to rap in the Yoruba language and also have a mix of English in his lyrics.
He’s got millions of fans and his name is gaining grounds in the African continent. In 2013, Olamide snagged a multimillion naira endorsement deal with Etisalat (now 9mobile). In the same year he signed this multimillion endorsement with the mobile company, he bagged another multimillion naira deal with Guiness Nigeria.
In 2014, he signed a N20 million naira endorsement deal with SureBet, and made a distinction as the first Nigerian brand ambassador to Ciroc vodka drink brand, this ambassadorial deal was reportedly worth N40 million naira.
He joins the club of Nigerian musicians and entertainers who have signed several million naira endorsement deal with Globacom. He earns millions from his music sales and show bookings.
Olamide is the label boss at YBNL Nation, a famed music imprint in the country. He has successfully managed the careers of artistes like Lil Kesh and Adekunle Gold to stardom. For Olamide, the cash will just not stop rushing in.
7. Davido — Net Worth: $21 Million Dollars
Davido is a music artiste who’s achieved a lot at such a young age. He’s one of the richest musicians in Nigeria with an estimated net worth of $21 million dollars.
He was born as David Adedeji Adeleke and is the second and last son of Dr. Adedeji Adeleke (a Nigerian billionaire and business mogul).
Davido is the Boss at DMW record label which has signed artistes Mayorkun and Dremo. He earns from shows he’s invited to grace and perfrom, and also, he earns from his music sales online and offline.
His songs walk slowly to top music charts after days of going live and viral. He signed a N30 million naira deal with MTN Nigeria in 2012. As part of the deal, he would be showcased as the face a marketing campaign for the network operator, MTN Pulse. The following year, he penned a new deal with Guiness Nigeria.
He performed live on stage at the Guiness World of More Concert alongside artists Iyanya, D’banj, Yemi Alade, Ice Prince and others as part of the signed multimillion naira deal with Guiness Nigeria. He has also bagged N100 million naira ambassadorial deal with one of the biggest soft drink company and brand, Pepsi.
Davido is not dependent on his father’s wealth and without his father’s wealth, he has made so much from his record label, songs, and entire career to make him one of the wealthiest Nigerian musicians today. He is among the few musicians in Nigeria who’s inked a music deal with Sony Music.
6. 2Face Idibia | Net Worth: $22 Million Dollars
2face Idibia is a Nigerian music legend and husband to actress Annie Idibia with an estimated net worth of $22 million dollars. He started music far back over 2 decades ago and has built his fan base through hard work and consistency.
2face is not a small boy in music, you know that, he’s one of the richest and most respected musician in Nigeria who commands respect from even those richer and more powerful than he is.
He currently has 6 music albums and has sold over 10 million copies of those albums globally. 2Baba as he is often called, is the Boss at Hypertek Entertainment and earns a lot from online music and video sharing platforms like iTunes and YouTube respectively.
In 2005, he bagged a multimillion naira deal with Guiness Nigeria, and signed a deal worth about N20 million naira with the smart phone network operator, Airtel.
5. Wizkid | Net Worth: $25 Million Dollars
Wizkid is another music legend with international recognition. He has an estimated net worth of $25 million dollars. He has earned a lot, over N3 billion naira from music sales and endorsement deals. He’s the boss at StarBoy Records, a classic and top record label in Nigeria.
He’s signed really good artistes including R2bees and Mr Eazi, who earn him millions from their productions. Wizkid is an international music star who has featured and has been featured by foreign stars. He recently featured Drake in his hit single, Come Closer.
Wizkid signed a $350,000 dollar endorsement deal with Pepsi drink company in 2012 and over N40 million dollar deal with MTN Nigeria around the same time in 2012. In 2013, he got closer to Globacom after they signed as a brand ambassador for N100 million naira. He has also signed a multimillion naira deal with Guiness Nigeria.
4. D’Banj — Net Worth: $25 Million Dollars
D’banj is otherwise known as the KoKo Master. He has gone international with his music as he dropped songs featuring vocals from American singers Akon and Snoop Dogg in the past. D’banj has an estimated net worth of $25 million dollars.
He earns from shows, endorsement deals and also, from his music sales. He has made over N2 billion naira from music sales and collaborations alone. He joins the league of musicians who signed endorsement deals with reliable network operator, Globacom.
His deal with Globacom was reportedly worth N100 million naira. D’banj has a multimillion dollar deal with Sony music and he was endorsed in 2014 by Apple/Beats by Dre. He stands as one of the richest musicians in Nigeria no doubt. D’banj has come a very long way in the music industry worldwide and is one of the richest naija musicians today.
3. RudeBoy — Net Worth: $30 Million Dollars
Paul Okoye, recognized as Rudeboy is the younger twin and half of the defunct music duo, P Square, with an estimated net worth of $30 million dollars. The musician over the years while being part of P Square has bagged several endorsement deals with his brother, Peter, but reports show that he’s got no solo endorsement deals yet.
Paul Okoye has raked in billions of naira from music sales and duo stage performances over the years with his brother. Together, they were the richest musicians in Nigeria and had global recognition. With the extinction of P Square as a brand, it’ll be difficult for each party to gain so much music strength and credibility, yet, it’s attainable.
Paul Okoye is extremely popular, and this fame has given him more than enough chances to sell his music as a solo artiste and get booked just like old times, but as a solo artiste. He’s currently the 3rd richest musician in Nigeria and if no endorsement deals come running to him, this position is more likely to be taken by more achieving music acts.
Yet, Paul’s songs as a solo singer will bring him millions of naira, he has business deals from where he earns and he also gets a big cut from the deals and investments he had with Mr. P, his brother and former music partner.
2. Don Jazzy | Net Worth: $35 Million Dollars
Don Jazzy is the Boss at Mavin Records, a topnotch recording label in Nigeria, with an estimated net worth of $35 million dollars. He was listed by Forbes Magazine as one of the top 40 most influential celebrities in Africa and has won several awards for his contribution to Nigerian music.
He is also a producer, businessman and songwriter. Don Jazzy gets a cut from whatever is produced by his artistes, including from the cash gain of singers like Korede Bello, Reekado Banks and Tiwa Savage who happen to be artistes under Mavin Records.
He is one of the richest musicians in Nigeria at the point as he has other properties across Nigeria worth millions of naira and also, other businesses. Don Jazzy signed a N49 million naira promotion deal with milk drink brand, Loya, in 2012 and has also signed a N100 million naira deal with Samsung, the very popular technology brand and company.
1. Mr. P | Net Worth: $50 Million Dollars
Artistes who made the list of top 10 richest musicians in Nigeria but have been moved to other numbers below the BIG top 10 include:
Timaya | Net Worth: $5 Million Dollars
Timaya is the CEO and lead artiste at D.M (Dem Mama) Records with an estimated net worth of $5 million dollars. He is one of the most charismatic and one of the richest musicians in Nigeria.
When Timaya started out, his songs were mostly about the damages taking place in the Niger Delta region of Nigeria. He sang about the soldiers and what they did to their parents back home, all he did then was send messages through music and this greatly renewed the minds of the Niger Delta indigenes.
Now, he’s got no much problem singing about anything else as he has nothing but his peace and money. Timaya in 2016 signed an N87 million naira endorsement deal with the “Rule Your World” themed network operator, Globacom.
Another multimillion naira deal was set with Hennessey X.O. Cognac. He’s a role model to thousands of would-be musicians and has made over N500 million naira fortune from his singing career.
Iyanya | Net Worth: $6 Million Dollars
Iyanya is one artiste with the best physique. He has an estimated net worth of $6 million dollars. In 2013, Iyanya struck a N35 million naira deal with Solo Phones Nigeria and got a Toyota Prado from the deal. He also signed a $300,000 US dollar deal with Zinox computers, a deal worth over N50 million in naira.
He has grown over the years to become one of the richest musicians in Nigeria. Iyanya was formerly signed under Triple MG record label with Ubi Franklin as it’s CEO. Currently, he’s marked a scar as a Mavin Records artiste under the tutelage of Don Jazzy. His hit single, Kukere, is still gaining massive airplays till date.
Flavour | Net Worth: $7.9 Million Dollars
Chinedu Okoli, popularly known as Flavour N’abania is another artiste who’s got great physique. He loves showcasing his 6 abs and glowing skin in shirtless photos. Flavour is one different artiste who has topped the modern highlife music chart today in Nigeria. He has an estimated net worth of $7.9 million dollars.
He has released a couple of hit songs and has made over N500 million naira from music sales. He signed a 2-year contract with Guiness Nigeria worth millions of naira in 2014 and signed a deal in 2016 with Life Beer, Guiness Nigeria’s top rival.
In August of the same year, 2016, Flavour pitched another deal with Flat Tummy Tea. The deal was rumoured to be worth millions of naira too. He’s a man of millions and is one of the richest musicians in Nigeria.
At a time, he was rumoured to be going out with Nigeria’s foremost female singer, Chidinma, but he debunked the rumour, stating that they’re both just friends who love and do music passionately together.
M.I | Net Worth: $8 Million Dollars
Jude Abaga (famed as M.I) is a incredible Nigerian rapper with the best flows. He’s not the fastest, no, but he’s still the best lyrically. M.I has an estimated net worth of $8 million dollars.
He’s the lead artiste at Chocolate City and has been the CEO until 2015. He delved into music when he discovered he was not supposed to be saying jokes.
He discovered and made a final decision when he performed at an event and laughed at his own jokes without anyone else laughing to his jokes. M.I is incredible and he is one of the richest musicians in Nigeria.
Burna Boy| Net Worth: $10 Million Dollars
Burna Boy has gotten so much love from his fans due to his raw music style. He’s a Nigerian reggae/dancehall musician with an estimated net worth of $10 million dollars.
He earns from show bookings, music sales and from his numerous endorsement deals. In 2016, he signed an endorsement deal with Martell Cognac. The deal was rumoured to be worth millions of naira.
He has also signed a deal worth over N10 million naira with Globacom. Burna Boy’s cars in total would amount to over N100 million naira. He lives a very comfortable and well suited lifestyle and his fans love him.
That’s all about the Top 10 Richest Musicians in Nigeria & Their Net Worth by Moss9ja