The music industry is one of the greatest business industries in the world today. From Gospel to rap and even traditional, music evolves yearly, as do the rankings of the Richest Musicians in Nigeria and their net worth.
Over the last fifteen years, the Nigerian music industry has experienced a massive turn-up of young talented artists. Nigerian musicians have recently been rated among the best, not just in Africa but on the global scene. Some have made millions and billions of Naira through their albums, hit tracks, and endorsement deals.
If you are a music enthusiast, you might be interested in knowing the richest musicians in Nigeria and their net worth. Read on to find out the wealthiest musicians in the Nigerian music industry and their estimated net worth.
1. Wizkid – Net Worth $30 million
Wizkid has taken the number 1 spot as the richest musician in Nigeria. Wizkid’s real name is Ayodeji Ibrahim Balogun. He was born on 16th July 1990. He started his musical career in 2009 with Empire Mates Entertainment E.M.E records owned by Banky W.
Aside from being a national treasure, Wizkid has featured numerous international artists such as Tinie Tempah and Drake. He recently won the award for Best Music Video at the 63rd Annual Grammy Awards in 2021 for featuring as a lead artist on Beyonce’s “Brown Skin Girl.”
Wizkid’s net worth and endorsement deals
Wizkid has made lots of money not only from making music but from signing endorsement deals as well. Wizkid reportedly signed a one-year endorsement deal with Pepsi in 2012 worth a whopping 350,000 USD. It was later renewed for another two years.
An endorsement deal with MTN and Guinness closely followed the Pepsi deal in 2013. June 2015 saw Wizkid ditch MTN sign a deal worth N128 million with Glo. Today Wizkid has an estimated net worth of N9 billion.
2. Davido – Net Worth $26 million
Second on the list of richest musicians in Nigeria is David Adedeji Adeleke, popularly addressed by his stage name “Davido”. He was featured alongside other prominent musicians in this list in Forbes Top 10 richest musicians in Africa.
Davido was born on 21st November 1992. He is an African-American and was raised in Lagos. Davido’s interest in music started blooming during his undergraduate years at Oakwood University, where he studied Business Administration. He later dropped out of college and enrolled at Babcock University, where he earned a degree in music.
Davido’s net worth and endorsement deals
One of Davido’s first big deals is a N30 million endorsement deal he signed with MTN in 2012. Later in 2013, Guinness Nigeria signed him to a deal that included performing alongside other top artists like Wizkid, Burna Boy and D’Banj at the Guinness World of More Concert.
Davido also got signed by Infinix Mobile in 2018, among other deals he signed around that period. With an estimated net worth of $26 million, Davido is undoubtedly one of Nigeria’s richest musicians.
3. Don Jazzy – Net Worth $18.5 million
Don Jazzy is number 3 in our list of richest musicians in Nigeria. Don Jazzy’s real name is Michael Collins Ajereh. He is from Delta state and was born on 26th November 1982. Don Jazzy is a singer, songwriter, record producer and entrepreneur.
Don Jazzy founded the record label, Mavins Records on 8th May 2012. Don Jazzy became interested in music as early as 12 years. He started with playing bass guitar and drums. From there, he built a solid career in music.
Don Jazzy’s net worth and endorsement deals
Don Jazzy has gotten big endorsement deals with top brands such as Sky Vodka and Loya Milk. His deal with Loya Milk was worth N40m. He also has a deal from MTN worth N40m. He is also one of the brand ambassadors of Samsung and Konga. Don Jazzy is one of Nigeria’s richest musicians with a net worth of about $18.5 million.
4. Burna Boy – Net Worth $17.1 million
Damini Ebunoluwa Ogulu, popularly known by his stage name, Burna Boy, is one of Nigeria’s richest musicians. Burna Boy was born in Port Harcourt on 2nd July 1991. He is a top Nigerian singer, rapper, songwriter and dancer.
Burna Boy’s rise to fame started in 2012 after releasing his lead single, “Like To Party,” from his debut studio album, L.I.F.E. He later signed with Bad Habit/Atlantic Records in the U.S. in 2017.
Burna Boy’s net worth and endorsement deals
Burna Boy has won many awards such as the Best International Act award at the 2019 BET Awards, the African Artiste of the year award at 2020’s VGMA and the Best World Music Album in 2021 at the 63rd Annual Grammy Awards.
With this much popularity, Burna Boy has also gotten many endorsement deals such as mouth-watering deals with Nigerian Breweries Plc, Globacom, Star Lager Beer etc. Burna Boy’s net worth is estimated at $17 million.
5. Rudeboy – Net Worth $14.1 million
Paul Nonso Okoye, popularly known by his stage name, ‘Rudeboy’, is one of the richest musicians in Nigeria. Rudeboy was one of the singers from the famous “P-Square” band before the duo went their separate ways. He is a Nigerian singer, record producer and songwriter.
Rudeboy is from Anambra State but was born in Jos, Plateau State, on 18th November 1981. Rudeboy rose to form alongside his twin brother Peter Okoye (a.k.a Mr P). After P-Square disbanded released his solo tracks, “Nkenji Keke” and “Fire Fire”. He later released “Reason With Me”, which generated lots of views on YouTube.
Rudeboy’s net worth and endorsement deals
Aside from singing, Rudeboy owns a record label, Fire Department Inc. Just like other top Nigerian artists, he signed quite a number of endorsement deals with different brands. Paul with his brother had endorsement deals with Olympic Milk and Globacom with customized cars to their names. Rudeboy has an estimated net worth of $14.1 million.
6. Mr P – Net Worth $12.5 million
Peter Nonso Okoye goes by the stage now Mr P. He was one of the duos that formed the now-defunct P-Square band. Peter Okoye is Paul Okoye’s twin brother. Thus it’s not a surprise that he also made it to the list of top richest musicians in Nigeria. He rose to fame alongside his brother, and they made music together until they disbanded their band, “P-Square”, in 2017.
Mr P’s net worth and endorsement deals
With an estimated net worth of $12.5 million, Peter Okoye is one of the richest musicians in Nigeria. Peter and his brother, Paul, bagged one of the biggest endorsement deals in Nigeria with Glo IN 2010. The deal was reportedly over N100 million. He has bagged endorsement deals with KIA Motors, Adidas and Olympic Milk, Skols, MerryBet and MTN Yello.
7. 2Face (Tuface) Idibia – Net Worth $12.2 million
Innocent Ujah Idibia is known by two popular stage names, “2Face (Tuface)” and “2Baba”. He is from Benue State but was born in Jos on 18th September 1975. 2Face Idibia is a Nigerian songwriter, singer, record producer and entrepreneur. He is married to the beautiful actress, Annie Idibia.
2Baba is one of the most celebrated Afro-pop artists in Africa and undoubtedly one of the richest musicians in Nigeria. He has won five Headies Awards, one BET Award, one World Music Award, one MOBO Award and four MTV Africa Music Awards. He is also a pioneer recipient of the fellow of the school of music by the Music Department of Obafemi Awolowo University.
2Baba’s net worth and endorsement deals
2Face has endorsement deals signed with top brands like the Alcoholic drink, Campari and Globacom. In 2019, 2Face landed a juicy endorsement deal with a real estate company, Pazino Homes and Gardens. He is one of the richest Nigerian musicians, with a net worth of about $12.2 million.
8. D’Banj – Net Worth $12 million
Like other names in this list of richest musicians in Nigeria, D’Banj is a popular name in the music industry. D’Banj’s real name is Oladapo Daniel Oyebanjo. He was born on the 9th of June 1980 in Kaduna State.
D’Banj’s net worth and endorsement deals
D’Banj has worked as the brand ambassador for Globacom, Power Fist, Ciroc, Heritage Bank and SLOT. D’Banj has made lots of money from his career and has an estimated net worth of $12 million.
9. Banky W – Net Worth $10.5 million
Olubankole Wellington is one of the richest Nigerian artistes. He goes by the stage name, ‘Banky W’. Banky W was born on 27th March 1981 in the U.S. He is married to the beautiful and popular Nollywood actress Adesua Etomi.
Aside from making music, Banky W has also delved into acting. One of the popular movies he has featured in his “The Wedding Party”. He has also appeared in T.V. shows like Jacob’s Cross and Shuga.
Banky W’s net worth and endorsement deals
Banky W has made lots of money from endorsement deals. He has acted as an ambassador and collaborated with top companies like Coca-Cola, Uber, TomTom, Microsoft, MTN, Airtel and Ciroc Vodka. Banky W has an estimated net worth of $10.5 million, making him one of the richest Nigerian musicians.
10. Flavour – Net Worth $9.5 million
Chinedu Okoli goes by the stage name, ‘Flavour’. He is a popular Nigerian artist and one of the richest Nigerian musicians. Born on 23rd November 1983, Flavour is from Umunze in Orumba South Local Government Area, Anambra State.
Flavour works under 2nite Entertainment. His love for music started when he was 13 years old when he used to beat the drum for his local church choir.
Flavour was later invited to join the professional music company. This spurred him to study music and, from there, started his professional music career. The first album that brought him to the limelight was “Nabania”, where he collaborated with Mr Raw.
Flavour’s net worth and endorsement deals
Flavour has received different awards such as the 2014 Channel 0 Music Video Awards, the Best Traditional Artist and Video of the Year (with his Ada Ada).
Just like other prominent musicians in this list of wealthiest Nigerian musicians, Flavour has signed endorsement deals with brands like Nigeria Breweries, MTN Nigeria, the energy drink, Bullet and Life beer. Flavour has a net worth of about $9.5 million.
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