Top 10 Richest Nigerian Musicians of 2018

As the Nigerian music industry continues to grow and attract global attention, it is essential to recognize the top 10 musicians who made significant financial gains in 2018. This analysis ranks these artists based on their net worth, considering their performance charges, endorsements, and probable investments. Here is the list:

10. Flavour / Olamide

Both popular in their own right, Flavour and Olamide share the tenth position in this ranking. Known as the kings of highlife and street music, respectively, they generate substantial income from live performances and brand endorsements. Flavour, with performances that can earn up to N8 million per event, has endorsement deals with brands such as Bullet Energy Drink and Hero Brewage. Meanwhile, Olamide, who has a yearly tour across Britain, Europe, and America, charges N10 million for his shows. Their combined net worth is estimated at N3.2 billion each.

9. Banky W.

Olubankole Wellington, better known as Banky W, is a multi-faceted personality who operates beyond the music industry. He is involved in acting, film production, event hosting, and public speaking, earning significant income from endorsements with international brands like Samsung and Uber. His net worth is estimated at N3.5 billion, with a recent marriage to Adesua Etomi adding to his status as a power couple.

8. Timaya

Enitimi Odom, also known as Timaya, is the eighth richest musician in Nigeria. The DM Records boss is known for his high fee, charging N8 million for each performance. Currently, he is signed with Glo and Hennessy as brand ambassadors. Timaya recently acquired a palatial mansion worth hundreds of millions of Naira, bringing his total net worth to about N4 billion.

7. Paul Okoye

As one-half of the superstars P-Square, Paul Okoye (Rudeboy) is a significant figure in the Nigerian music industry. Although the duo's earnings per show have reduced post-split, he remains a prominent artist with a net worth of N5.6 billion.

6. Peter Okoye

Peter Okoye, the other half of P-Square, continues to be a relevant musician despite the split. With endorsements from brands like Kia Motors, Olympic Milk, and others, his net worth is estimated at N5.8 billion.

5. 2Baba

Innocent Idibia, better known as 2Baba or 2face, is a veteran in the Nigerian music scene. Known for his brand-friendly persona, he has clinched numerous deals. He is currently signed with Glo and Campari, and is the owner of Rumors Night Club in Lagos, contributing to his net worth of N5.9 billion.

4. D'banj

Dennis Osadebe, popularly known as D'banj, has consistently managed to earn substantial income. Although his on-stage performances have declined, his business acumen remains sharp. D'banj's CREAM platform was valued at N100 million, and he continues to earn from on-stage performances. His net worth is estimated at N6 billion.

3. Don Jazzy

Michael Ajereh Collins, better known as Don Jazzy, has transformed into a full-fledged businessman. He owns Mavin Records and has several music-related businesses. With a net worth of N7.5 billion, he is recognized as one of the top earners in the Nigerian music industry.

2. Wizkid

Ayodeji Ibrahim Balogun, known as Wizkid, is the second richest musician in Nigeria. As a global collaborator with world-famous artists like Drake, Chris Brown, and Future, Wizkid's financial rewards are remarkable. He charges up to N12 million for his performance fees and even more for international events. With a net worth of over N7.5 billion, Wizkid also runs Starboy Records, which includes artists like Mr. Eazi and R2Bees.

1. Davido

Baddest among the Nigerian music scene, David Adeleke, Davido, is the richest musician in Nigeria. Leadership of the 30 Billion Gang, consisting of his hit song “If,” has made him a household name with over six million YouTube views. His private jet, "Air OBO," and leadership of the DMW label with acts like Mayorkun and Peruzzi, further contribute to his net worth of N9.5 billion.

For a deeper look into the Nigerian music market, we invite you to explore more on Nigerian music trends and insights. Share this informative piece with your friends on social media for a wider reach.

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