Ask for any high-paying profession in the world today, and you will get many talent-based careers that have made many soar high from grass to grace in a very short time. Well, talent can take you anywhere, but this has to be accompanied by an attitude to remain relevant. The Nigerian youth have been led to believe that music is the next gold mine in the country. Truthfully speaking, music and the entertainment industry is one of the highest paid trades in the country. Nigeria has produced some of the noteworthy, talented and popular artists in the world today enjoying enormous popularity and recognition. This fact can be attested by having a close look at the richest Nigerian musicians.
Their names have become household names as their songs have been repeatedly played by the mainstream media such that their fans can comfortably sing along word by word. These artistes are some of the people who have made it big in life entirely making a great fortune from their inherent talents and music. They are popular thanks to their musical contributions, achievement and honorary awards, hit songs, charisma, popularity and the business ventures. Some of these musicians are also involved in ambassadorial roles and brand images. Such roles have made many of the artistes feature on this list of rich Nigerian musicians.
Interestingly, music in Nigeria is viewed as one of the easiest and fastest ways to make money. This is because some of the rich musicians in Nigeria have shot to fame and wealth within a very short time. Some have hits singles that helped break into the mainstream media and success henceforth. However, most of them replay their musical journey and say it has not all been a ride in the park. Many musicians on this list have endured pain, rejection, and financial constraints to make it to the recording studio. Nevertheless, success is to be celebrated as the end justifies the means. Below is the Nigerian musicians rich list as per their net worth in 2018.
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List of richest Nigerian musicians 2018
Here is the list of top rich Nigerian musicians.
20. Patoranking – Net worth $1.75m [632 million naira]
Patoranking is clearly curving a niche for himself in the evolving Nigerian music scene. His dancehall type of music fused with his Nigerian influence has helped him the right balance. Despite being relatively new in the mainstream music, his hits and collaboration have help him cash in and he is on this top 20 richest musicians in Nigeria list.
19. Yemi Alade – Net worth $2.1m [758 million naira]
She is among the richest Nigerian musician who is female whose net worth is estimated to stand at 2.1 million dollars that translate to 758 million naira. The girl is beautiful and has the best vocals which will make you listen to her songs over and over again without getting bored. Her hit song, Johnny is probably what has garnered her much popularity and wealth, but she has other tracks such as Heart Robber, Charlie, Single & Searching among many others. Yemi Alade has an endorsement from Nairabox, Abc relaxer, and Close-up.
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18. Chidinma Ekile – Net worth $2.86m [1 billion naira]
Chidinma had to be on Nigerian musician rich list. She is worth 1 billion naira in wealth and, therefore, is a notable artiste in the industry today. He hit song Kedike after its release opened her to the music prosperity and the video was widely watched online. She has the title of the 2012 Best Female West African Music Art and this lead to a corporate engagement with the MTN. She is a graduate of the University of Lagos.
17. Duncan Mighty – Net worth $3.5 million [1.27 billion naira]
Some of these rich Nigerian musicians have very inspiring stories about their musical journey. Duncan Mighty at some point in his life was in the church choir, later became a music director in the same church and well, today we know far too well who he is in music; a legend.
He hails from the southern region of Nigeria - Delta and has great music album as part of his work including Grace & Talent, The Certificate, Footprints, Ahamefuna, and Koliwater. Port Harcourt Boy and Obianuju are probably the songs worldwide known. Duncan Mighty’s net worth stands at 1.27 billion naira.
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16. Phyno – Net worth $3.6 million [1.3 billion naira]
His official names are Chibuzor Nelson Azubuike and was born in Nigeria. He is yet another significant export from Nigeria. Phyno is unique because of the use of the English language mixed with Igbo and Pidgin. Other than being an accomplished musician he is also a producer and has produced songs for J. Martins, Timaya, Flavour, and others. Phyno is valued at 1.3 billion naira and is an ambassador for Igbo Music and Globacom.
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15. Ice Prince – Net worth $4.35 million [1.57 billion naira]
The hit single ‘Oleku’ featuring Brymo was enough for Ice Price to get the attention he needed. Ever since, Ice Prince has enjoyed relative success in the music industry. The success has landed him on this list thanks to his net worth of $4.35 million.
14. Olamide – Net worth $4.50 million [1.62 billion naira]
Olamide is worth N1.62 billion and similarly is listed in the outline of the richest Nigerian musicians and their net worth 2018. He is popular and money loaded. His big hit, Wo in the first six days following after its release had over 1 million views on YouTube. Olamide also works for Ciroc, Etisalat, Sterling Bank and Guinness on a contractual basis.
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13. Tiwa Savage – Net worth $4.85 million [1.7 billion naira]
Tiwa Savage is fondly referred as the First Lady of Mavins Record. Her real name is Tiwatope Savage Balogun and is the third female on the list of rich musicians in Nigeria. Before rising to fame musically, she worked as a vocal back up artiste for music stars such as Mary J. Blige, Emma Bunton, George Michael among many others. Tiwa Savage is known for her successful project, Eminado which has been viewed overwhelmingly online. She is worth N1.7 billion and is a UK Edition X factor finalist during her day in college.
12. KCee – Net worth $4.91 million [1.77 billion naira]
Kcee is the blood brother to the business tycoon, Emeka Okonkwo popularly known as E-money. Initially, he works with Presh but is currently pursuing an individual career in music and is good to do. His songs Pull Over, and Limpopo are some of his biggest hits that enjoy massive airplay. As a matter of fact, during the 2013 Headies, the song was named as the Song of the Year.
He is one of the Nigerian musicians from rich families and money seems to be easy to make for him. The MTN and Magnum endorsed him to be the brand ambassador. In 2014, he was appointed to be the Peace Ambassador of the Federal Republic of Nigeria by Patience Jonathan. He is worth around N1.77 billion although some reports give a higher figure.
11. M.I – Net worth $4.94 million [1.78 billion naira]
M.I is also known as Jude Abaga and similarly makes it in the list of 20 rich Nigerian musicians. He is one of the musicians who has risen to fame over a very short period of time and he is currently proud of his achievements. His music genre is in rap music a prime export from Nigeria in African rap music. M.I is linked to Chocolate City Record by the virtue of ownership stake in the company. According to Forbes, 2018, M.I is valued at N1.78 billion. He seems to have it all in life with high-end assets under his name and mega profit-making business deals.
10. Timaya - Net worth $4.95 million[1.79 billion Naira]
His name definitely had to be on the list of top rich Nigerian Musicians. Timaya has worked tirelessly on his way up. His music career can be traced back to the Streets of Port Harcourt where he served as an entertainer little was it known to him that someday his talent would give him global recognition. The Dem Mama hit-maker entered the music industry officially in 2005 and had released great tracks such as Sanko with has been viewed on YouTube over 15 million times. Timaya has also worked with Sean Paul under the project Bum Bum, which is equally a big thing in the market.
Timaya charges anything between 1.5 and 8 million Naira for a performance. If this then does not make him be among the rich musicians in Nigeria, I wonder what they would. Other than music his name has given him other avenues of getting money such as working with Hennessy, Glo, and MTN. He is the founder of Dem Mama Records and is worth N1.79 billion.
9. Iyanya - Net worth $4.98 million [1.8 billion Naira]
His musical career reached the break-even point when he was enrolled at the MTN academy where he was later announced the MTN project fame winner. This not only made him recognized widely but it earned him some money too. Since then he had had it easy in the industry and recently released a hit song, Kukere, a song in the hip-hop genre.
Iyanya is an alumnus of the University of Calabar where he studied business. This may have given him basic knowledge about how to do manage finance as he has channeled his monies into the right investment that have helped him expand his net worth. However, he has a good lifestyle and often gets extravagant especially when it’s about the ultra-modern car. He is about N1.8 billion in value according to Forbes. He surely needs to be on the Nigerian musician rich list.
8. Banky W - Net worth $6.37 million [2.3 billion naira]
Well, Oluwabankole Wellington also known as Banky W. is a wealthy Nigeria musician based in the United States who is also known teasingly as Mr. Capable. This name comes from a song he released in 2008 in that title. In as much as Banky W. is talented has the voice that will leave a lot to admire. He is one man who is indeed blessed; he is handsome and makes many ladies eye him. However, sorry to say this in black and white the handsome guy is married to actress Adesua Etomi, which goes without saying he is out of the market.
Banky W in the past has held brand ambassadorial roles with prime companies’ even those that operate as multinational or franchise. Such include Samsung, Etisalat, and Coca-cola; as a result, Banky W. has excellent music tracks such as the Ebutte Metta who is not concentrating his musical works in Nigeria and one of the richest Nigerian musicians.
7. Wizkid - Net worth $7.75 million [2.8 billion naira]
Ayodeji Ibrahim Balogun better known as Wizkid enjoys massive popularity. As he was raising up in his music career, he was a backup artiste for Banky W. since the age of eleven he showed great passion for music and began singing. However, his breakthrough only came in 2010 after he released the music video, Halla at ur Boi! That he shoots to fame. He is a member of the Record Label Starboy who makes to be mentioned among the rich Nigerian musicians.
Wizkid over the short period of time he has been in the limelight for his musical work has been able to be given honorary awards in different and diverse musical competitions that recognize talent and arts. He has been dubbed as an internationally recognized musical act. This has brought so much wealth which justifies why he is on the list of top rich Nigerian musicians. He has worked alongside music superstars such as Alicia Keys, Treyz Songz, Drake, Chris Brown, Tulisam Tinie Tempah among many others. He has signed a contract to be a brand ambassador for Pepsi and Glo companies a venture that has expanded his wallet admirable. He is worth N2.8 billion; has invested in businesses, owns a palatial home and a fleet of flashy cars including a Porsche. Wizkid is the brand bearer holder for the Sony Records.
6. Davido - Net worth — $13.5 million [4.9 billion naira]
Davido is the Skelewu hitmaker whose real names are David Adeleke. He is one among the few rich Nigerian musicians who have hit the mainstream media circles within a very short time a true definition that indeed talent can take you far. Davido is also popularly known as Omo Baba Olowo –OBO as he has self-acclaimed himself the title. He is one of the highly paid artistes, you remember his recent 30 billion concerts which was sold out days before the event kicked off. He trended worldwide, and he has traveled the world all thanks to music.
Other than making good money from his music, he also has had money flowing into his account from other avenues. He has signed a corporate endorsement with industry giants such as MTN, Pepsi, First Bank and the Multinational company, Guinness. He is into business and co-owns the HKN music powerhouse with his partner who happens to be his blood brother Adewale Adeleke. His other hit songs include Aye and Gobe among many others.
He is estimated to be N4.9 billion in worth by the year 2018. Davido indeed swims in wealth, a notable wealth man who owns the finest things in life, high-end automobiles range rover, Porsche, Honda and good to do homes in Lekki Lagos in a quiet and posh leafy suburb of the town. His name had to appear in the 20 rich Nigerian musicians list and he's one of the Nigerian musicians with rich parents.
5. Flavour - Net worth — $23.5 million [8.5 billion naira]
His real names are Flavour N’abania, yet another rich music legend. At his infancy stages, he was a drummer in church but has then built an empire for himself and his talent is one of the notable things in the Nigerian music industry. He has released several music albums since 2010; Blessed, Thankful, Ijele the Traveler, Uplifted, and N’abania. Under his name are honorary awards from Africa Music Magazine and MTV Africa Music Awards.
Flavour is alleged to charge a sizable amount per show in Nigeria, and the charge may go up overseas. He also gets money from the Flat Tummy Tea and Life Continental Beer which he has signed for corporate engagements. On this list of top rich Nigerian Musicians, Flavour is valued at N8.5 billion.
4. 2face Idibia - Net worth — $24.9 million [9 billion naira]
He is a music legend who is about N9 billion in net worth. 2Face is also known as Innocent Ujah Idibia and is a hip-hop star. He is known for the African Queen song one, a song so soul soothing completed with the amazing vocals that many envy. He began humbly attached to the Plantashun boiz, a musical group but apparently, he is ranked among the richest Nigerian musicians and their net worth is evidenced by their lifestyle.
2Fcae Idibia is a singer, songwriter, record producer and an investor. He is a multiple award-winning artiste having scooped prestigious awards during the Channel O Music Video Award, BET, MOBO, and Kora Award. He has been linked to Glo, Campari and Partner Mobile through endorsement deals. His success has been shared out to the community through 2Face Idibia Reach Out Foundation where he serves humanity.
3. D’banj - Net worth — $27.7million [10 billion naira]
He commands a great following and is among the 20 rich Nigerian musicians. His official names are Oladapo Daniel Oyebanjo but he is known as D’Banj or Kokomaster. Among the many songs that have massive airplay since their release up until now just as it was now. The popular songs include Fall in Love, Tongolo and Oliver Twist among many others.
D’Banj has been in the music industry for about two decades. When starting off, he worked with Don Jazzy but have not gone separate ways. He is currently based in the United States working musically under the G.O.O.D Music label own by one Kanye West and has since then been enjoying global success. Elsewhere, D’banj is affiliated with SLOT and Ciroc which brought him so much fortune. He has also been involved in business particularly manufacturing and technology services. He is worth N10 billion.
2. Don Jazzy - Net worth — $30.5 million [11billion naira]
Don Jazzy is handsome, rich and talented. He is not only a performing musician but also is a renowned music producer and a serial entrepreneur. Jazzy is the founder of MO’ Hits and the Mavin Records, and he recently co-founded a technology company named Flobyt. In addition to this, he is the Samsung Mobile and Johnnie Walker brand ambassador –you must have seen him on billboards and television commercials. He charges a hefty amount to produce a single song. These are some of his most significant achievement in the world of business.
Musically, Don Jazzy is a well-known superstar and a producer. He has been awarded the Producer of the Year severally by the Headies and the Nigerian Music Awards and Nigerian Entertainment Award. The City People Entertainment Award in 2015 gave him a special recognition award. His music production prowess has earned him a chance to work with the likes of Iyanya, Tiwa Savage, and Korede Bello. He, therefore, has to be on the cutting edge list of richest Nigerian musician 2018. In fact, he is believed to be the richest musician in Nigeria with an estimated net worth of N11 billion. He owns a land-marking home and has super sleek cars. His real name is Michael Collins Ajereh.
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1. P-Square - Net worth $41.55 [15 billion Naira]
P-Square comprises of two twin brothers Peter Okoye and Paul Okoye but used the stage name P-square. They are among the richest Nigerian Musicians ranked high in the list of richest Nigerian musicians 2018. They have a very successful music career and have amassed for themselves great fortunes from it.
The duo has some of the greatest hits of all time. For instance, their song ‘Personally’ has over 77 million views, Collabo is next with about 42 million views then followed by the likes of Test the Money, Bank Alert and Chop Ma Money. P-Square is celebrated in Nigeria, regionally in Africa and even have global recognition. Their music production is under the music label Square Records managed by their elder brother Jude Engees.
Much of their wealth has been made from music, stage performances around the world, corporate endorsements, contracts and investment ventures. At one time they signed a mega-deal with Akon’s Konvict Muzik Label, owned by yet another African artiste whose now have a legacy to his name. they have won numerous awards for the KORA Awards, MTV Africa Music Awards, Channel O among many others. It is alleged they charge N12 million for every performance. However, the group has since disintegrated and each of the brothers is pursuing a solo career in music. However, as of 2018, P-Square is estimated to be about 15 billion naira in net worth.
After checking out the names of the rich musicians in Nigeria, there are areas of interest in the music industry I would like to draw your attention to. First, in the last decade or thereabouts, the music scenes have experienced a paradigm shift making it a mega dollar making business. This has encouraged many youths to join the circles of entertainment and eat from the tree thereof. Some have made handsome amounts of money while still others are struggling to make a living or at least ends meet.
In terms of glory, hard working musicians are now successful. You must have observed how our entertainment celebrities ordinarily are extravagant in their spending. They are comfortable watching their money go into luxury things. Besides, musicians are living lavish lives; they travel the world, interact with iconic leaders, enjoy great networks, have money, and ride the latest machines in the automobile industry. In fact, they compete among themselves.
It is encouraging that both the male and female musicians are competing well in this world of entertainment. All these chart-topping acts ought to be celebrated. They are always putting in musical efforts to remain relevant and making a lot of money from music.
This list of the richest Nigerian musicians keeps changing due to many reasons. Some of the reasons include new endorsements and new recording deals. Regardless of the changes, we will keep this list updated.