The Nigerian music industry has rapidly grown from an industry that was barely heard to an industry bringing in Billions of naira. The Nigerian industry doesn’t only king in Africa; it is a force to reckon within the international market with the original Afropop genre gradually conquering speakers and getting massive radio play.
As a deep Nigerian music fan, it’s sometimes natural to find out who is who, and who is more luxurious than who in the industry. On this list today, I give you the top 10 richest Nigerian musicians by Forbes. It is a count down.
Richest Nigerian Musicians In 2020
10. Olamide – with a net worth of N3 billion
Networth: N3 billion
Cost Per Stage/Show Performance: N5 – N7 Million
Prominent Assets: Three houses (One in Lekki worth N38 million, and two in Bariga worth N25 million and N20 million respectively).
Garrage: Mercedes-Benz G Class, Array Vagabond Sports, Variety Vagabond V8, as well as Toyota Camry.
Few Endorsement: First Ciroxc brand endorsement
Brief Bio: Olamide born Olamide Adedeji on 15th March 1989, in Bariga, Lagos State.
He has many stage names; a few are Olamide Baddo and BaddoSneh.
A bankable artist who takes the 10th spot on our top 10 richest musicians in Nigeria with most of his Music on hip-hop songs horizon. He is mainly known for his Yoruba rapping skills.
He started his music profession in 2010 when he released his very first single titled “Eni Duro.” Since the release of Eni Duro, it’s been linking for Badoo.
Today, he is popular with over seven studio albums and in one collection recording with other top 10 richest musicians in Nigeria.
He has also been nominated and won a lot of awards, including “The most prominent Nigerian artist,” N.E.A., and even “African award ceremonies.”
9. Phyno – with a net worth of N3.2 billion
Chibuzor Nelson Azubuike popularly known as Phyno, meaning “phenomenal.” He was Born in 1986 at Enugu State in Eastern Nigeria.
This super talented Igbo rapper comes number 9 on our list – according to Forbes.
He initially wanted to be a pilot or a doctor, he played drums as well as piano, and at the very same time can develop his rendition of every recording he listened to.
With a net worth of N3.2 billion, it seems the music industry was right for him.
He started his career in 2003 at Enugu State as a music producer.
He later relocated to Lagos to have even more perspectives and gain more audience.
Nonetheless, he is a producer for most of the top 10 richest musicians in Nigeria with like Flavour, Timaya, Mr. Raw, and many others.
For his lifestyle, Pyhno owns a house in Lagos and drives the Bentley GT Coupe.
8. Banky W
Net worth: N3.5 billion
Olubankole Wellington aka Banky W was born on March 27, 1981, in the U.S.A.
He is famously known as a singer, SongwriterSongwriter as well as an actor. Banky W is not only an excellent vocalist but a rap artiste.
He is also a talented actor with movies like “The Wedding Party (2016).”
Banky W was born in the U.S. but relocated to Nigeria as a child, where he started his education.
He later returned to the States with a scholarship offer to continue his higher education at Rensselaer Polytechnic institute, NewYork.
He began his music career in 2002 during with some differences performed on different both on stage, choir, and on occasions.
During that time, he was one of the youngest rising musicians in Nigeria who got public attention.
Later, he launched his very first Album at the age of 16.
However, he is still going solid as one of the most well-known and top 10 richest musicians in Nigeria.
Besides, he launched his record label “E.M.E.”” in the year 2012 while still studying in the U.S.A.
He moves back to Nigeria in 2009 to establish his record label and signed Wizkid – another force to reckon with.
Moreover, Banky W has launched five good Albums to date and also featured on a collaboration album.
Most of the endorsement deals that have made him one of the wealthiest musicians are with Samsung, Etisalat Nigeria, and Uber.
Apart from Banky W been a singer, Songwriter, and a Nigerian Actor.
Banky W is now known to be a politician who believes to works things out in Nigeria.
Currently, he has made it to the top 10 richest musicians in Nigeria, with an estimated net worth of N3.5 billion.
Net worth: N4 billion
Timaya born Enitimi Alfred Odom in Port Harcourt, Rivers State, on August 15, 1980.
He started his singing and songwriting career when he founded the music team “Dem Mama Soldiers” In 2005.
However, he began as a solo artist and moved to launch his very first Album named “True Story” in 2006.
Later, he advanced to release his next album, “Gift Grace,” in 2008.
After the launch of his third music Album named “De Rebirth,” Timaya soared to global recognition as well as importance.
Today, Timaya has an overall of 6 albums and a lot of songs.
He is typically called the Dancehall King of Nigeria due to the point that he is one of the most famous artists in this style.
Looking at his high-living lifestyle. Timaya owns a mansion located in Lekki and a fleet of cars that amount to his worth.
6. Peter Okoye(Mr. P) and Paul Okoye(RudeBoy)
Net worth: N5.5 billion each
It is hard to complete this list of top 10 richest musicians in Nigeria without discussing the popular P-Square developed by Peter and Paul Okoye (now defunct).
However, these two incredible brothers take the 6th spot in the listing as well as have nearly the same total assets.
Paul Okoye, with a stage name “Rudeboy” and Peter Okoye with a stage name “Mr. P,” was born on November 18, 1981, in Jos, Plateau State.
However, these two brothers founded a particularly preferred stage, P-Square, which was among the most well-known in Nigerian Music.
Moreover, Paul Okoye currently has a great music career, much like his brother, with a fancied stage name “Rudeboy.”
Peter, on the other side as a great music career with endorsement, deals like Kia Motors and also Olympic Milk.
The siblings earned insane quantities of cash when they work on stage together.
It was said that they used to charge N20 million per performance in Africa.
Looking at their lifestyles, these two brothers lives an extravagant life.
Among their assets are a mansion and a private jet.
However, both Peter (Mr. P) and Paul Okoye (Rudeboy) have an estimated net worth of N5.5 billion each.
5.2Baba (2Face Idibia )
Net worth: N5.8 billion
2Baba or 2Face Idibia born Ujah Idibia in Jos on September 18, 1975.
He is one of the top 10 richest musicians in Nigeria taking the 5th position.
His music career began in secondary school days and moved onward to perform at his university level.
Furthermore, he needed to obstruct his very own education to focus on his music career.
He was born talented and productive, which has made him who he is today.
Looking at his profile, he has once conferred the best-known Afropop artist.
Up to date, 2Face has release six good Albums, which has earned him so much money.
Other awards won by 2Baba (2Face) are MTV Europe Music Award, B.E.T. Award, and many others.
Looking at his luxury lifestyle, 2Baba owns two modern design mansions with exotic cars, including Ferrari and Chevrolet Corvette Coupe.
Net worth: N6 billion
D’Banj’Banj is acknowledged in the Nigerian Music industry because of his rhythmic Music, memorable songs, as well as appearances on television.
His stage name is an imaginative combination of his actual name Dapo and also the last name Oyebanjo.
His real name is Oladapo Daniel Oyebanjo, and he was born in Zaria, Kaduna State, on June 9, 1980.
D’Banj’Banj has truly attained lots of African, American as well as European on his Music.
In 2016, he got on the 2nd position in T.I.N. Magazine as the top 10 wealthiest Musicians in Nigerian. Now, he has fallen to the 4th position on the list as new young musicians are getting the leads.
Despite this fact, D’Banj’Banj still stays notable as well as cherished by lots of people not just in Nigeria but in various other nations as well.
He has launched four successful albums, featured on two collection albums.
Also, the singer has a variety of hit singles.
It is clear why he got numerous residences with classic enhanced rooms, pool, and costly natural leather furniture.
3. Don Jazzy
Net worth: N7.5 billion
Don Jazzy was born on November 26, 1982, in Umuahia, Abia State.
His real name is Michael Collins Ajereh, and also the proprietor of the Mavins Records label.
However, he is best-known as a Nigerian producer, Songwriter, and singer.
He is found in the list of the top 10 richest musicians in Nigeria due to his magical entrepreneurial skills.
Besides, his former record label was established as a result of the cooperation with D’Banj’Banj in 2012.
Later, he pronounces the creating of a new record label called “Mavin Records.”
The artist began his collaboration with such celebrities as Dr. S.I.D., Tiwa Savage, Di’Ja’Ja, Wande Coal, Korede Bello, Reekado Banks, and also lots of others.
Besides, he composes most of these musician’s songs and occasionally collaborates to publish an album.
Apart from singing and also producing.
He got most of his job to do with endorsement companies like M.T.N. as well as Loya Milk.
Looking at his lifestyle, Don Jazzy owns a mansion in Banana Island, one of the most expensive places to live in Africa.
For his exotic cars, Don Jazzy owns many cars, including Bentley and Porsche Carrera.
Net worth: N8 billion
Wizkid was born as Ayodeji Ibrahim Balogun in Surulere, Lagos State, Nigeria, on July 16, 1990.
He used to be an easy young boy that loved solo singing as well as had enough ability and also enthusiasm for song recording.
He started his music career as a solo artist in a pentecostal church with a stage name “Lil Prinz” before changing to “Wizkid.”
Later, he established a group called “Glorious Five” at the age of 11 with his close friends in a church.
Moreover, there, fortunately, created only one Music before the group was dismissed.
In 2013, he founded his record label “Starboy entertainment.”
He became popular with the release of “Holla at Your Boy,” the track from his debut album “Superstar” in 2010.
Later on, he has delivered three mega-successful Albums, in addition to one compilation album.
However, he continues to pursue his music career until he collaborated on “One Dance” by Drake.
Wizkid is one consistent Afro Beats artist.
He likewise has more endorsement deals with M.T.N., Glo, Pepsi.
Looking at his exotic cars, Wizkid owns many cars, including Porsche Panamera, Mercedez Benz, and also BMW X6.
Wizzy has two houses in Lagos, as well as in Los Angeles.
Net worth: N9 billion
Davido takes the lead of the top 10 richest musicians in Nigeria.
David Adeleke, with Davido as his stage name, has so many tracks with massive views on YouTube.
Davido was born in Atlanta, the United States, on November 21, 1992.
But his from the wealthiest family in which his father “Adedeji Adeleke” is a billionaire and a businessman.
Besides, that doesn’t mean that Davido gains its wealth from its father or another way round.
The famous Nigerian-American professional singer works for his money.
Moreover, He began his music career at Oakwood University, Alabama, in the U.S.A., moving to get a degree in Business Administration.
Besides, Davido dropout from the same institution when he couldn’t make it through with grades.
He later relocated to London and focused mainly on Music but not with the support of his father.
However, his father, who is the founder of Adeleke University, went and paid Babcock university to start a music department.
Davido chose to honor his father and enrolled at the Babcock university in 2015 in which he has achieved a bachelor’s degree in Music.
Nevertheless, Davido earns most of his money from his D.M.W. record label and endorsement deals.
Most of his endorsement deals are with M.T.N., G.L.O., Guinness, Nigeria.
However, the recent endorsement deal for Davido is with Infinix, Nigeria. A mobile phone that focuses primarily on Andriod.
Davido is said to own a house in Lekki, Lagos, which is estimated to worth about N140 million.
There is also a rumor that Davido owns a house in Atlanta.
For Davido cars, we believe he owns one of the expensive cars in Nigeria, which includes Mercedes Benz, Range Rover, Porche Carrera, Bentley, and Bentayga.
He bought a new Rolls Royce worth about N360 million in 2019.
Wrapping It Up
At this juncture, I bet you’ll want to make Music too. Music in Nigeria is becoming very lucrative. Thanks for reading.Click here to leave a comment