“Somebody would spend two years for pre-degree,
four years for Bsc, two years for masters and
someone would just sing ‘Skibo robo skibo oshey
baddest’ and start making mad money.”
The statement isn’t far from the truth, as the money
circulating in the Nigerian music industry is a very
enviable sum. Asides the showbiz-life, the hired things
for the music videos and the exposed overrated
things, and all, musicians have pretty comfortable
lives. And for the smart ones, the music career is just a form of leverage to acquire investments and set
things up for alternative sources of income.

Endorsement deals are being signed on a daily basis,
some artistes are being dropped by their brands,
some acquire and/or lose properties, some never
disclose how much they’re really worth, making it
difficult for a correct list to be compiled. But if you
want to have an idea of Nigeria’s top richest artistes, then here you have it.
The music industry in Nigeria is certainly a money spinner.
Over the last decade, the industry has become not just
a source of livelihood for talented entertainers but an
asset base that has made these indiviiduals extremely
rich.
In this post, we’ve compiled a list of the top 20
richest musicians in Nigeria based on factors like
appearance fee, endorsements as well as the worth
of their personal properties.
So, here are the richest musicians in Nigeria>
WIZKID

Ayodeji Balogun Ibrahim popularly called Wizkid is
one of the richest musicians in the country with a net
worth of over $11 million.
He started his musical career at the tender age of 11.
However, he didn’t become popular until 2010 when
he released the song, ‘Holla at ‘ur boy.’ The song
was a massive hit and subsequently shot him into
limelight.
Wizkid is an internationally recognized musical act. He
has collaborated with acts like Drake, Treyz Songz,
Tulisa, Kendrick Lamar, Chris Brown and Tinie Tempah.
His songs have been well received outside Africa with
celebrities like Alicia Keys, Swizz Beatz and Kylie
Jenner seen dancing to them.
Wizkid has a couple of massive endorsement deals
with brands like Pepsi and Glo. These deals run into
hundreds of millions and have given him an enviable
fortune.

Davido

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.

Peter & Paul Okoye (formerly P-Square) This R&B duo of Peter and Paul Okoye have an estimated networth of $150 million. Their journey into music can be traced back to Jos where they started out. They were initially known for their break dancing which they learnt from their mentor, Michael Jackson. However, the twins have since moved on to carve a niche for themselves in the entertainment industry which has catapulted them to the top of the rich-list in the industry. Peter and Paul Okoye are graduates of Business Administration from the University of Abuja Over the last decade, Psquare has released a total of 6 albums which include: Last nite
Get squared Game over Danger The invasion Double trouble Also, many of their singles have become national and international hit, some of these include E no easy, Chop my money, Beautiful Onyinye, Personally, Ejeajo, Bring it on and Getting down Over the years, Psquare has won several national and international awards. Some of these include Channel O Music Award, Mtv Africa Music Awards, KORA Awards, the headies and many more. The duo has multimillion naira investments in real estate across the country. Also, their endorsement deal with telecoms giant, Glo is said to run into hundreds of millions of naira. Whenever they are billed to perform at any event in the country, PSquare earn an average of N20 million per show. And when they perform outside the country, the fee is usually double of their local fees. However, in September 2017, this illustrious group broke up, with Peter Okoye sending a termination letter to the group’s lawyer. Each of them is now trying to embark on a solo music career

Don Jazzy
Don Jazzy is the founder of the defunct Mo’ Hits as well as Mavin Records. He is arguably the richest producer in the country. He has several endorsements. For example, he’s a brand ambassador of Samsung Mobile. He also has a mega endorsement with Johnnie Walker which runs into millions of naira. Currently, Don Jazzy is worth an estimated $100 million. Some of his awards over the last decade include: City People Entertainment Award (2015) – special recognition award. Nigerian Entertainment Awards (2007) – Music Producer of the Year. Nigerian Music Awards (2006) – Producer of the Year. The Headies 2011 – Producer of the Year for Over The Moon, Mr Endowed and Pop Something[17] The Headies 2014 – Producer of the Year for Dorobucci. Apart from music, Don Jazzy has investments in the tech space. He is a co-founder of Flobyt, a tech company offering free Wi-Fi to users seeking entertainment content.

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