Aside Politics and the Oil & Gas sector, Nigeria creative and the entertainment industry is the most viable sector of our economy, the sector has gone far as boasting the country’s GDP, according to the PriceWaterCooper report of 2014. However, the entertainment and the music industry is arguably the best thing that ever happened to Africa’s sleeping giant Nigeria.
When we’re young then, our parent usually advised us to faced our study in order get good grades in school, which will boast our chances of getting high paying jobs in the corporate world, but the in the past few years the paradigm has been shifted as our youth are using their God’s giving gift to earn living for themselves. This prompts me to a Tweet I stumbled on Twitter recently, whereby the user express his church mind and he tweeted:
“Somebody would spend two years for pre-degree, four years for Bsc, two years for masters and someone would just sing ‘Skibo robo skibo oshey baddest’ and start making mad money.”
On this post am going to answer the question ‘’ Who is the richest musician in Nigeria ‘’? If you might have been thinking to know the answer on who’s the richest musician in Nigeria, you search is over because you’re going to find the answer on this post. However, we can actually confirm all their wealth for you here, because they have other investments apart from their musical career, but thanks to American business ranking magazine Forbes, as they make a clearing analysis of their earning per show, sales rate, endorsement values, social media presence and their general influence on African music scene, but the actual fact still remains that these richest artists are veterans in the entertainment industry.
Here Are Top Ten Richest Musicians in Nigeria & Net Worth (Forbes, 2018)
10. Timaya – Net worth N1.1 billion
9. Iyanya – Net worth N1.8 billion
8. Banky W – Net worth N2.3 billion
7. Flavour – Net worth N2.5 billion
6. Wizkid – Net worth N2.8 billion
5. Davido – Net worth N2.9 billion
4. Innocent “2Face” Idibia – Net worth N4.5 billion
3. D’Banj – Net worth N5 billion
2. Don Jazzy – Net worth N6.5 billion
1. P-Square – Net worth N15 billion
10: Timaya: The DM Records can simply be described as a lion who owns his own jungle; he’s from the Niger Delta region of Nigeria. He charged around 6 to 8million per show, had over 80Millions views on YouTube for all his musical videos. He is worth an impressive sum of N1.1 billion.
9. Iyanya: The Kukere master Iyanya journey into the music industry started in 2008, when he was emerged as winner of the MTN Project Fame reality show, and ever since then he has become reckon force in the industry. He’s formally co-founded the Triple MG, with Ubi Fraklin. As at now he has an endorsement with technology companies Zinox, Solo Mobile and Yudala. He is worth an impressive sum of N1.8 billion
8. Banky W: Bankole Wellington is somebody we can describe as all round creative genius and businessman. He’s responsible for the bringing top acts such as Wizkid, Skales & Shaydee to limelight. He’s co-founder of Empire Mates Entertainment Company, which has move from recording company into talent management and adverting agency, he had made a lot of money with his music & his creativity into the corporate world branding. Right now, he’s brand ambassador for Etisalat and Samsung Mobile Nigeria.
7. Flavour: Chinedu Okoli, popularly known as Flavour is arguably most popular musician from the eastern part of the Nigeria. He’s king of highlife music. His fame runs through the continent. He has nabbed several endorsement deals; a notable one is with NBC (Nigerian Breweries Company). The singer is valued at an estimated net worth of N2.5 Billion Naira.
6. Wizkid: Ayodeji Ibrahim Balogun is arguably one of the biggest Nigeria music export in the last 5 years. He’s owner of an independent recording company Starboy Entertainment, a recording artist for Sony Music/RCA Records. He had performed at several international music events, topping chart the Billboard Hot 100 Music Chart for his Drake‘s featuring in ” One Dance ” and he charged around 12M per show in Nigeria, and even more outside the country.
5. Davido: David Adedeji Adeleke popularly known as Davido is one of the biggest music export for Nigeria in the last 5 years. In 2016, he signed what can be described as biggest recording contract from African with Sony Music/RCA Records, and he’s one among the few Nigerian musicians with international recognition.
4. Innocent Idibia, known as 2face Idibia then now 2baba is Nigeria living legend and father of Pop music in Nigeria. He’s role model to both established and upcoming artists up across the country. e makes his money from shows and endorsement deals with top brands of the country. By far he is one of the most marketable musicians in Nigeria at the moment.
3. D’banj: Dapo Oyebanjo, popularly known as D’banj is arguably Nigeria and Africa’s best-selling artists in the last 10 years. His music is not only his selling point to consumer, but D’banj’s business and branding acumen are as strong as ever, a big negotiator.
He makes his money from shows and tours around the globe due to the fact he is a really strong marketable brand. His CREAM Platform was valued last year by an American firm to be worth about $100,000,000.
2. Don Jazzy: After successful outing with Mo’Hits Records as the recording company in-house producer, Don Jazzy has fully moved from just beat-maker to be a full-fledged businessman. Don Jazzy is the Founder and CEO of Mavin Records which houses top music star such as Tiwa Savage, Reekado Banks, Dr.Sid, Korede Bello etc. He is reported to charge about N500, 000 to produce a song which explains how he makes his money.
1. P-Square: They still ranked one of the richest musicians in the country this 2018 even if they split. For those who don’t know about them, here is a brief profile on Nigeria’s most celebrated twins who took the Nigerian music industry to another level since their emergence.
Peter Okoye and Paul Okoye are twin brothers who sang and danced together from the onset before Paul decided to stop dancing and concentrate more on singing. Peter on the other hand choose to do both. They produced and released their albums through Square Records which was managed by their elder brother, Jude Engees.
It was until recently that they both split after some internal family issues and divided their properties among themselves which led to the dissolution of P-square to the abasement of their fans. While they were together, they signed a record deal with Akon’s Konvict Muzik label.
It was said that P-Square charges a whopping N8 Million Naira per show. There was once a time they were first on the list. They made real cash and won series of awards. Forbes ranked them in 2014, 2015, and 2016 as the richest twins in Africa.
Apart from singing and dancing at shows, they have other investments which are not made public. It is rumored that both brothers have about 7 cars between them, mansions and even landed properties around the country and were worth about $40 million when they were together which made these richest Nigerian musicians plus other endorsements benefits.
Based on Forbes list of richest musicians in Nigeria, Peter’s worth is estimated to N5.8 billon while Paul’s net worth is N5.6 billion