Who are the richest musicians in Nigeria? Nigerian music has continued to grow, making a noticeable impact in Nigeria both locally and internationally. Financially, Nigerian musicians are making more money now than the musicians of the old school era used to do. Here are the 5 richest Nigerian musicians right now. The additional two are those to watch out for.
Nigerian music duo P-Square are composed of identical twin brothers Peter and Paul Okoye. They are certainly one of Nigeria’s richest musicians. They produce and release their albums through Square Records. In December 2011, they were signed to Akon’s Konvict Muzik label and In May 2012 they signed a record distribution deal with Universal Music. According to reports Psquare makes more than $150,000 per show. Their Square Villa located at Ikeja is worth $3 million dollars. As brand ambassadors they have a 3-year deal with Globacom, a Nigerian telecommunication company where they are paid $1 million dollars yearly.
On 4 April 2010, P-Square was named the Artist of the Year at the KORA All Africa Music Awards in Ouagadougou, Burkina-Faso. They received a whopping sum of $1 Million Dollars as the Award Winners. In 2013, Psquare’s peter Okoye got engaged to Lola Omotayo the mother of his two children, presenting her with a brand new Range Rover SUV.
Dapo Daniel Oyebanjo (popularly known as D’banj, born June 9, 1980), is one of Nigeria’s richest musicians and foremost entertainers. He is also known as Banger Lee & the African Micheal Jackson. A lot has happened in his Career in the last few years. He split up with his friend Don Jazzy which led to the end of MOHITS Records. According to reports, D’banj was paid $1 million dollars by a TV Station on his own reality show called Koko Mansion. In 2011 he signed with Kanye West GOOD Music Label and on June 2012 he performed at the Hackney weekend in the UK to celebrate the 2012 Summer Olympic games which was headlined by Jay- Z and Rihanna. He performed alongside his friend, and fellow Universal Music Group label mate, Rita Ora on 30 August 2012 at the SCALA London Live Music, Clubs and Arts Venue to celebrate the release of her debut album Ora. He also performed at the AFCON 2013 closing ceremony held in South Africa.
D’banj Atlanta Crib is believed to be worth $1.5 million and he reportedly charges over $20000 per show. His newest album ”D’Kings Men” was released in 2013 and D’banj wore a $25,000 suit to the event. He also wears a similar watch to Jay-Z’s believed to be worth $50,000 dollars in cash.
D’banj is also a shrewd business man and the owner of a range of ‘Koko’ products which includes KoKo water and Koko mobile. D’Banj’s bar (Koko Lounge) has been operation for many years and is doing well while the Koko Foundation is working on non-profit projects and charitable initiatives. In May 2013, D’banj was lucratively unveiled as the headliner for the 2013 Hennessy Artistry.
Dbanj has a fleet of expensive cars. One of his fantasy cars is the Aston Martin Vantage car which he acquired for a whopping $200000.
3). 2face Idibia
Innocent Ujah Idibia (born in Jos, Plateau State, Nigeria), popularly known as 2Face Idibia, is one of the most successful hip pop artists in Nigeria. He is fondly called 2Baba and he is very down-to earth guy. He is considered by many as one of the best Nigerian musicians of all-time. His song ‘African Queen” remains an all time classic. 2face has received four Channel O Music Awards, five Headies Awards and one BET award for his musical work, and numerous additional nominations.
2face who is married to Annie Macaulay, a Nollywood actress, has investments in real estates around Nigeria. It is reported that he earns about $50000 – $80000 per show and owns a Night Club in Lagos just to name a few. In 2009, he was presented with the prestigious International Youth Ambassador for Peace Summit and the Nigeria Youth Merit Award by the National Youth Council of Nigeria in recognition of his contributions to youth development in Nigeria.
4. Banky W
Nigerian Musician Banky W was born in the United States to Nigerian parents, but the family moved back to Lagos Nigeria when he was five years old. Banky is the CEO of Empire Mates Entertainment (E.M.E.) record label and he helped propel the careers of artists such as Wizkid and Skales. He has been featured in numerous Nigerian Newspapers, magazines and websites. As a philanthropist, he launched the “I AM CAPABLE” scholarship fund, which provides tuition, room & board at private universities for youth who are in need and meet the grade requirements. He’s also on the board of trustees of the “LightupNigeria” Project, which is focused on achieving constant electrical power supply in Nigeria
Banky’s talent has distinguished him, making him of the richest musicians in Nigeria. He won the prestigious John Lennon Song Writing Award in 2006, R&B Category, for ‘My Regret’
Banky is currently an Ambassador for Etisalat Mobile and face for Samsung Products in West African Nations.
Ayo Balogun, popularly known as Wizkid is the CEO of Star Boy Record Label. He recently went on a shopping spree in London. Wizkid is one of the hottest musicians in Nigerian right now. His fan base is growing at a very fast rate both internationally and locally. He performed at the 2013 Yahoo! Wireles Festival which took place at the Queen Elizabeth Olympic Park, London. Star boy, as he is popularly called, charges a minimum of N5 million naira per show and is signed to Akon’s Konvict Muzik label . He also signed a multi-million naira endorsement deal with Pepsi.
Star boy recently acquired a N15million Porsche Panamera after crashing the first one. wizkid recently celebrated his 24th birthday in London where One Direction’s Liam Payne presented him with the world’s most expensive champagne worth a staggering £1.2 million pounds.
Wizkid has a lucrative endorsement deal with Pepsi which has been extended for another 2 years and he is also an MTN ambassador.
Artists to watch out for
Don Jazzy and Davido are two additional artistes to watch out for in the Nigerian’s music Rich list.
6. Don Jazzy
Don Jazzy is the CEO and president of MAVIN records. He drives a Porsche Carrera GTS. He is certainly one of the greatest producers in Nigerian music. He began MAVIN after the end of Mo’hits bringing Tiwa Savage on Board. Since leaving MO’hits it is clear Don Jazzy is focused on asset building. He has lucrative deals with Loya Milk and Samsung, his most notable endorsements. Under his label are remarkable artistes like Tiwa Savage, Wandel Coal, Dr Sid and D’Prince. These artistes are also a massive reputational boot for MAVIN Records. Don Jazzy is known for his liberality as it has been reported in many quarters.
In August 2013, Don Jazzy signed a lucrative deal with MTN Nigeria , becoming an ambassador of the Telecommunication Company. Don Jazzy recently was rated as the 36th. “Most powerful celebrity in Africa” according to Forbes. In a more recent survey carried out by Forbes in late August 2013 Don Jazzy was rated as the Most Bankable artiste in Nigerian music. This however does not mean he is the richest musician in Nigeria as some have thought in many quarters.
Nigerian musician and songwriter, Davide Adeleke, popularly known as Davido is the son of a multi millionaire. Davido recently acquired a 2012 Mercedes Benz G55 AMG said to be worth over N20 million His fan base is growing fast, just like Wizkid. His song ”One of a Kind” and ”Gobe” is a fan’s favourite. In 2012 Davido signed a lucrative deal with the telecommunication giants, MTN.
Earlier this year the fast rising Nigerian music artist bought a house in Lekki worth N140 million. According to our informant The house is close to where his father also has a house in Lekki. Davido in 2012 reported spent two million naira on chains and jeweleries in one day. In August 2013 Davido bought a diamond encrusted ROLEX watch which is believed to be worth over $30, 000 dollars