Let’s face it, there’s no way to accurately determine the financial worth of any individual unless he or she discloses it. This explains why you won’t get an accurate account of how much Nigerian musicians are worth.
Though you’ll find various lists all over the internet that rank Nigerian musicians in terms of their riches, get it clearly that these lists are products of estimations based on various factors such as popularity, endorsement value, show rates, sales, awards, investment, influence, social media presence, YouTube views, and so on. And this explains why there’s no agreement between them.
Here, however, we will try to strike a balance. After having looked at a number of posts listing the richest musicians in Nigeria, we came up with the list below, which highlights the top 10 richest musicians in Nigeria—in no particular order:
P-Square
Comprising twin brothers, Peter and Paul Okoye, P-Square is believed by many to be the richest Nigerian musicians (there’s no strong evidence to support this, though). The duo charge between 8-15 million Naira per show, and they’re signed up as ambassadors for strong Nigerian brands such as Globacom.
P-Square signed recording deals with Akon’s Konvict Music in December 2011 and Universal Music in May 2012. The Square Villa in Ikeja, owned by P-Square is said to be worth $3 million (around N500 million).
D’ Banj
Dapo Daniel Oyebanji (D’Banj) was born on June 9, 1980. He started his music career with Mo’ Hits Records, the label under which he shot to fame in 2005, when he released his first album, No Long Thing. He broke up with his producer, Don Jazzy in 2012 in a development which saw the end of Mo’ Hits Records.
D’Banj charges between 6-8 million Naira per show, and is currently signed up with Globacom and other Nigerians brands in deals worth several millions of Naira.
TuFace Idibia
Innocent Ujah Idibia (popularly known as TuFace Idibia) is one of Nigeria’s most popular hip-hop sensations and is regarded by many as one of Nigeria’s best instrumentalists ever. It is reported that TuFace earns between 5-7 million Naira per show.
The father of seven seems to be finding his way into property business as he keeps acquiring assets, which run into millions of Naira from different parts of Lagos.
TuFace Idibia has recorded 10 million CD sales and at least seven million digital sales. He is associated with Guinness, Haven Homes, Airtel Worldwide and is a philanthropist.
Don Jazzy
Michael Collins Ajereh (Don Jazzy) was on November 26, 1982. He is a multi award-winning record producer, singer-songwriter, musician, and former chief executive officer of Nigerian record label Mo’ Hits Records, founded in 2004 and current CEO of the Mavin Records label, which he founded in May 2012 after his broke up with childhood friend and Mo’Hits partner, D’banj.
Don Jazzy is more of a music producer, and he’s earning his multi-millions from doing just that.
Wizkid
One of the hottest musicians in Nigeria right now, Ayodeji Ibrahim Balogun (Wizkid) is controlling millions at a very young age (he was born on July 16, 1990). After rising to prominence in 2009 with his song “Holla at Your Boy,” Wizkid has grown in leaps and bounds with many hit songs and awards to his credit.
Wizkid, is the CEO of Starboy, an affiliation with Disturbing London, and has engaged in several international collaborations. He is the highest paid Pepsi ambassador in Africa and an ambassador of MTN. He earns between 4-6 million Naira per show.
Other artistes believed to be among the top 10 richest musicians in Nigeria include:
- Davido
- Banky-W
- Ice Prince
- Flavour
- K1 De Ultimate
Caveat!
This list is based on rough estimations made from the factors earlier mentioned and should not be used or quoted as an authoritative source. As stated earlier, only the musicians themselves know how much they’re really worth.
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