RICHEST MUSICIAN IN NIGERIA : TOP 10 CASH KINGS OF NIGERIA MUSIC INDUSTRY Richest Musician In Nigeria Top 10 cash kings of Nigeria music industry Joey Akan | 17:09 | 02.03.2016 Pulse Music presents the top 10 richest musicians of 2016, based on their activity from the year in review (December 2014 – January 2016). 24/7 Live - Subscribe to the Pulse Newsletter! Subscribe

RICHEST MUSICIAN IN NIGERIA :  TOP 10 CASH KINGS OF NIGERIA MUSIC INDUSTRY

Richest Musician In Nigeria

Top 10 cash kings of Nigeria music industry

Joey Akan | 17:09 | 02.03.2016

Pulse Music presents the top 10 richest musicians of 2016, based on their activity from the year in review (December 2014 – January 2016).

 

 

 

 

 

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Davido  (Davido)

The primary obsession of many in the Nigerian music scene is wealth. Although many will be reluctant to admit it, net worth, wealth, and the promise of its abundance is what motivates a high percentage of Nigeria's richest musicians.

The quest for monetary acquisition and affluence which characterizes the Nigerian society, is a core part of the music industry, responsible for the sounds that make it out of the studios, to the marketing of an album, down to the choice of performances. Everything is geared towards money and all its friends.

From the old guard, P-square and Don Jazzy, through to the young and new cash kings of music which include Wizkid and Davido, Nigerian stars have kept the money spinning from a number of sources including record sales, digital revenues, brand endorsements and investments.

Pulse Music presents the top 10 richest musicians of 2016, based on their net worth from the year in review (December 2014 – January 2016).

P-square

Psquare  (Press)

Real Name: Peter Okoye, Paul Okoye

Active since: 2001

Psquare, the veteran Okoye brothers are top of the richest Nigerians musicians list. Peter and Paul Okoye have combined industry, longevity, and skill to create wealth. With performance fees and record sales as their largest income puller, the twins are also the highest paid brand endorsers of telecommunication firm, GLO.

Don Jazzy

Ace music producer, Don Jazzy  (Pulse)

Real Name: Michael Collins Ajereh

Active Since: 2004

Don Jazzy rarely performs, but he is one of the richest musicians in Nigerian music. Being at the top of Mavin Records, which boasts of successful acts, the CEO gets his biggest pay from the songs that roll off his console and into the market. He is also involved with brand endorsements for MTN, Loya Milk, Konga, and Johnny Walker. In December 2015, he also did pull off the first ever Mavin Concert with immense funding from Access Bank. He is also invested in Mavin Energy, a power company.

2face Idibia

2face Idibia doing the 'One Love' sign  (Pulse)

Real Name: Innocent Ujah Idibia

Active Since: 1996

Regarded as Africa’s most successful musician, 2face Idibia has a career spanning 2 decades. His active involvement in private and elitist concerts around the world brings in the cheques, and so does record sales which account for a huge percentage of his cash flow. He recently did renew his deal with Airtel, and possesses a huge stake in the Lagos real estate sector.

Wizkid

Wizkid with his Porsche Panamera  (Instagram )

Real Name: Ayodeji Ibrahim Balogun

Active Since: 2001

Starboy’s position as one of the richest musicians of Nigerian music is based off the success of his records. In 2015, Wizkid played a minimum of 50 high-paying concerts, with each date raking in a minimum of N5 million. He is also actively involved in a N120 million endorsement deal with GLO, becoming their highest earning influencer. His deal with Pepsi is still one of Africa’s most expensive, and he has ties to cognac brand, Hennessy.

Davido

Davido  (Davido)

Real Name: David Adedeji Adeleke

Active Since: 2011

Here’s another member of the new guard whose meteoric success catapulted him to a top earner in Africa. Much like Wizkid, the pop nature of Davido’s record has resulted in him playing a record number of shows and high-paying private gatherings. A titan in the digital sales group, Davido combines music with a luxury celebrity life which has brought forward a slew of endorsement deals including MTN, and Closeup.

D’banj

D'banj's performing posture  (Press)

Real Name: Oladapo Daniel Oyebanjo

Active Since: 2004

Africa’s uber-celebrity comes through on the back of his endorsement deals. Regarded as the richest musician away from music records, D’banj have deals with Slot, Ciroc, Beats, and Bank Of Industry. He is actively involved in entrepreneurial pursuits in Agriculture and tech. On the performance end, D’banj still rakes in the dough, with vintage concerts forming a huge part of his income.

Read More: Don Jazzy says "I didn't snub D'banj on stage"

Tiwa Savage

» moreThe Queen Tiwa Savage is back!  (YouTube/Mavin Records/323 Entertainment )

Real Name: Tiwatope Savage-Balogun

Active Since: 2006

Despite a maternity leave last year, Tiwa Savage ended the year as the celebrity with the most endorsement deals. She represents a string of top brands including Forte Oil, Konga, Pepsi, MTN, and Pampers increasing her net worth. Although her pregnancy affected her performance ratings, she still squarely kept up some show dates. She’s also a licensed US songwriter, and makes money from royalty deals.

Banky W

» moreBanky W at The Unofficial Christmas Party 2015  (Jide Odukoya)

Real Name: Olubankole Wellington

Active Since: 2003

The R&B King gets his primary income from record sales and performances. The EME man is niche market titan, singlehandedly headlining all the love-themed concerts. He is still benefiting from his days with Wizkid whose digital sales and streaming power for past records still rake in sizable income.

M.I Abaga

M.I Abaga doing the 'Ok' sign  (Pulse)

Real Name: Jude Abaga

Active Since: 2006

The CEO of Chocolate City Music is sitting pretty with endorsements and performance fees. M.I is linked to top brands Martell, and GLO. Regarded as the best rapper in Africa, he is constantly performing dates across the continent, with private shows constituting a major source of cash flow. Record sales has also been a blessing for the rapper.

Olamide

Nigerian rapper, Olamide  (Olamide)

Real Name: Olamide Adedeji

Active Since: 2010

Another member of the new guard preps the group, as Olamide’s brilliance which has seen his finances get a huge boost from performances, sales and endorsement deals. With 5 albums in the past 5 years, he is one of Nigeria’s few successful acts who pushes considerable copies of album sales. His endorsement deals include Etisalat, Guinness, and sports gambling group, Surebet.

Joey Akan
is a Category Editor at Pulse.
Multi award-winning writer, journalist, critic and podcaster. He leans on the musical aspect of journalism. He lives for pop culture, sweaty parties, loud music, snobbish celebrities and Tekno rejecting awards. Reach me via Email: joey.akan@ringier.ng, 09090404151 (SMS only) Follow him on Twitter and Instagram: @joeyakan

 

 

 

 

 

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