Top 10 Richest Musician in Nigeria 2018 and their Net Worth

Okechukwu Solomon April 05, 2018

Over the last decade, the Nigerian Music industry has become not just a source of livelihood for talented entertainers but an asset base that has made these individuals extremely rich.

Apart from their songs, this popular artiste not only makes cool cash from their hit tracks but also from their shows, endorsement deals and investments.


In this article we are going to look at the top 10 richest musicians in Nigeria today this 2018 and their net worth.

Top 10 Richest Musicians in Nigeria 2018 & Net Worth


1. Wizkid

Starboy is undoubtedly leading as the richest musician in the country this year. Wizkid’s real name is Ayodeji Ibrahim Balogun was recently ranked by Forbes among the richest celebrities in Africa in 2017.

Wizkid has cars, mansions in various countries plus other investment, businesses and assets. He has an estimated net worth of $40 million according to Forbes and charges 5 million Naira per show.

Wizkid is the founder and CEO of Starboy music record label. He is an award-winning act who is recognized not only in Nigeria but internationally. His hit songs continue to top the musical billboard chart and have recorded financial success in the musical industry.

Some of the endorsement deals which Wizkid signed that worth millions of Naira and helped him yield enough wealth are: Being an ambassador for Pepsi, Globacom and MTN the top telecommunication company in Nigeria deal worth N40 million.

Davido

Davido is the second richest musician in the country at the moment. Popularly known as OBO (Omo baba Olowo), Davido whose real name is David Adeleke is worth an estimated $16 million deal.

Over the years, he has released several hit songs, some of which include Aye, Gobe, Skelewu, If amongst other.

Davido is the co-owner of HKN music along with his elder brother, Adewale Adeleke. He owns two houses in the Lekki area of Lagos. Also, he has several cars, some of which include a Honda, Porsche and a Range Rover

He has endorsements with big brands like First Bank, Guinness, Pepsi and MTN. His Pepsi Endorsement is worth an estimated N100 million.

His 30 billion concert which was recently concluded was said to have trended worldwide and grossed hundreds of millions of naira.

3. Don Jazzy



Don Jazzy real name is Michael Collins Ajereh. He is reported to charge about N500,000 or more to produce a song which explains how he makes his money. He has signed various endorsement deals that worth millions of Naira.

Don Jazzy, is Nigeria’s wealthiest record producer and CEO of Mavin Records. He co-founded Mo’ Hits Records in 2004 which saw the likes of super stars D’Banj, Wande coal etc excel under him. Under his new record label, he has produced a lot of songs and also talents in the Nigerian music industry. Among which the likes of Tiwa savage, Korede Bello, Reekado Banks e.t.c have prospered under.

Don Jazzy also lives in his own mansion and has numerous cars which explains his rich life-style. He is not yet married as of writing this post and his estimated financial worth is estimated at $35 million in dollars and about N8 billion in Naira.

4. TuFace Idibia


One of the best male singers in the country at the moment is 2face whose real name is Innocent Ujah Idibia. Apart from being a singer-songwriter, record producer, he is an entrepreneur. He also has endorsement deals with top organizations in the country which runs in millions.

He was part of the defunct plantashun boiz and had been the richest musician in Nigeria and Africa for so many years before the likes of youngest artiste Davido and Wizkid ursuped his position.It is rumored that 2Baba charges about 2.5 million naira per show. His worth is said to at an estimated sum of $22 million.

The music legend has produced hit tracks which has sold internationally and has topped the charts. African Queen still remains his best song so far as it is still in vogue since its release. 2baba is married to Annie Idibia and has other women outside wedlock who have children for him.

5. Olamide


Olamide Adedeji known by his stage name Badoo or Olamide is another wealthy Nigerian rapper and musician and also the founder and CEO of popular music record label in Nigeria – YBNL Nation. As for this 2018, he is known to be the richest Nigerian rapper.


Olamide signed an endorsement deal with Ciroc worth N30Million. Other deals that he signed include being a brand ambassadors for Guinness worth N80Million, Etisalat deal worth around N50Million which has since being renewed with an additional N30 million Naira.

Apart from making money through his music which have he sold over 40 million copies worldwide. He makes most of his cash from his collaborations with other musicians and his record label signees and event organization. Olamide is also a brand ambassador and a businessman who has invested heavily in Lagos state.


Olamide net worth in dollars is $6 million as of 2017 but his current financial status shows that he is more than that figure. Apart from the two filling stations and landed properties he has around the country, Olamide charges between N2 million to N4 million per show.

6. P-Square


P-Square are 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.

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.

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.

7. Phyno


His real name is Azubuike Nelson Chibuzor. He is the current second best rapper in the country who raps and sings in Igbo and English language fluently.Apart from winning series of awards, Phyno has made a name for himself in the music industry as a top artiste and celebrity.

He is built a brand for himself through his songs which sets him apart from other rappers. Phyno rich life style can be seen in his assets and financial worth.Just like Olamide, Phyno also invested his wealth into fashion, real estate, etc.

It is said that the duo can’t be matched in what they do as they have taken the entertainment market by storm by the way they perform on stage. Phyno charges about N2 to 3 million Naira for shows and his net worth is estimated to be $15 million.

8. Timaya

His names are Inetimi Alfred Odon is called by his stage name, Timaya. He is a Nigerian singer and songwriter and owns a record label called the South South hip hop group, Dem Mama Soldiers.

Timaya began his career in 2005 and has since became one of the most respected artiste in the entertainment industry. His second album Gift and Grace was released in 2008 which sold about 10 million copies in Africa.

We know that he should have investments even though its not listed as his net worth in Naira is estimated at N7 billion.


Timaya charges between N1.5 to 4 million per show. He has also had endorsements deals with telecoms giant Glo and Mtn. Recently, he signed a deal with Hennessy which was said to be worth several millions of naira. He is the CEO and founder of Dem Mama Records.



9. Flavour

Chinedu Okoli better known by his stage name Flavour N’abania is a Nigerian singer, songwriter, multi-instrumentalist and performer.

He started his musical career as a drummer for a local church in Enugu State. He also is a popular musician in Nigeria. The singer is valued at an estimated net worth of N2.5 Billion Naira. He has many investments in the south eastern part of Nigeria.

In 2014, his hit, Ada Ada won the award for best video of the year at the Mtv Africa Music Awards and the Africa Music Magazine Award. Flavour is known to charge between N4 and 5 million per show and he’s currently worth an estimated $28 million.

He has a couple of endorsement deals which include one with FlatTummy Tea and another with Life Continental Beer, a product of Nigerian Breweries.

10. D’banj


D’banj real name is Oladapo Daniel Oyebanjo, but he is known by his stage name D’banj. He is a Nigerian musician who has made wealth from his musical career and other investments. He has also signed top endorsement deals which have fetched him money in recent years.

He was formerly a co-founder of MO’ Hits record label with Don Jazzy before their split up. As a singer-songwriter, entrepreneur and television personality, Dapo has evolved into an international act.

Although he is not as pronounced as he was before, he managed to make it to our list of richest Nigerian musicians in the country for 2018. He is valued at $3 million recently.

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