The Nigerian music industry is made up of different talented musicians who have carved a niche for themselves with varying styles of music such as rap, afro-beats, afro-fusion and hip-hop, Thecitypulsenews.
only one source of income in Nigeria is not usually the way to the top and a lot of celebrities in the entertainment industry have discovered that. They rarely dwell on their main jobs as artistes but also focus on other sources of livelihood. Many musicians are brand ambassadors and run their own side businesses, asides music. A good number of celebrities have worked hard to build a strong fan base by using social media to their advantage and creating good and consistent music.
Amongst the various means by which Nigerian artistes make their money is through endorsement deals, awards, investments, international collaborations, tours, partnerships, music licensing, concerts, album sale and so on.
Here is a list of Forbes top 10 richest musicians from Nigeria.
Davido net worth and wealth is also affected positively by his YouTube channel, which has attracted over 663 million views since it was created. In addition, his Instagram account is not left out. Davido has an estimated value of $91,100 per post on Instagram.
Coming in with a close second is Ayodeji Ibrahim Balogun, popularly known as Wizkid. His net worth, as estimated by Forbes, is $19 Million, making him the second richest musician in Nigeria in 2021.
3 Don jazzy
Don Jazzy’s net worth is estimated to be over $18 million. Don Jazzy is not only a musician, but also a music producer and an entrepreneur. This rich music star is the CEO of the Marvins Record Label.
4 Burna Boy
Burna Boy is the fourth on the top 5 richest musicians in Nigeria. Born Damini Ebunoluwa Ogulu, on July 2,1991, his net worth is at $17 million.
5 2baba (2face)
2Baba is one of the most influential Nigerian artists. Born Innocent Ujah Idibia on 18 September 1975, he was formerly part of a musical group called “Plantashun Boiz” before he signed to the Kennis Music Record Label. His Net Worth is at $16 million.
Oladapo Daniel Oyebanjo best known by his stage name, D’Banj is worth $13.5 million
Olamide Adedeji also known as Olamide Baddo or Baddosneh is worth $12 million.
8 Phyno Fino
Chibuzo Nelson Azubike best known by his stage name Phyno is a singer, songwriter and record producer. He’s worth $11 million and is the number 8th on forbes list of richest musicians in Nigeria.
Timaya is worth $10.5 million. He has endorsement with top brands like Glo, Mtn and Henessey worth millions of naira. Egberi Papa 1 of Bayelsa, as he fondly calls himself charges about 2 – 4 million naira for show performance and his garage shows he’s a great lover of exotic cars as well.
His fleet of exotic cars includes a Mercedes-Benz G55 AMG, a Bentley Continental GT, a Range Rover Sport 2013, Range Rover Sport 2016, a Mercedes-Benz GLE, a Lexus SUV GX269, a Porsche 911 carrera, a Mercedes-Benz Maybach S650 2018, and the latest addition to this list is a Rolls-Royce Cullinan 2019 worth 123 million niara.
10 Psquare (peter and Paul okoye)
P Square cannot be left out of this list. They’re worth about $10 million individually. Even though they are no longer together as a pair, their success and contribution to the African music can never be forgotten.