Over the last decade, The Nigerian Music industry has witnessed a major turn as series of young talented Nigerians artiste have emerged from the industry raking millions of naira to their credits through their Hit tracks, albums and endorsement deals ranging from thousands to millions of Naira. So on this post we’ll be listing the Top 10 richest Hip Hop musicians in Nigeria and their net worth according to Forbes 2019 Magazine.
David Adedeji Adeleke known by the stage name Davido has been listed as the richest hip hop musician in Nigeria according to Forbes Magazine, Davido has also featured in Forbes Top 10 richest musicians in Africa. David Adeleke is an African-American He was born in Atlanta Georgia on November 21 1992 all though he’s raised in Lagos Nigeria. David Adeleke has several awards to his credits to include, The MOBO awards, African act of the year award and many more. He is currently signed into SONY record, a Top notch world record label. David Adeleke attended the British International School in Lagos. Davido studied business administration at Oakwood University before relocating to Nigeria. Davido’s interest in music started during his time at Oakwood University. He bought musical equipment and started making beats, in addition to recording vocal references. He dropped out of Oakwood University when he started getting bad grades and relocated to London, where he focused more of his energy towards vocals as opposed to production. When Davido returned to Nigeria in 2011, his music career was sidelined after he agreed to honor his father by enrolling at Babcock University. In July 2015, Davido earned a music degree from Babcock after his father paid the university to erect a music department for an inaugural class of one.
On April 6, 2012, Davido signed a ₦30 million endorsement deal with MTN, The deal unveiled him as the face of MTN Pulse, a marketing campaign for Nigerian youths. On October 24, 2013, Guinness Nigeria signed Davido to an endorsement deal. As part of the deal, Davido performed at the Guinness World of More Concert alongside P-Square, D’banj, Wizkid, Ice Prince, Burna Boy, Olamide, Phyno, Chidinma, Waje and Tiwa Savage, among others. On May 9, 2018, Davido signed an endorsement deal with Infinix Mobile, a Hong Kong-based smartphone manufacturer. His net worth as estimated by Forbes is N9 billion
Ayodeji Ibrahim Balogun known by the stage name Wizkid was born and raised in Nigeria on 16th July 1990, Wizkid is one of Nigeria’s most talented artiste having featured international acts, the likes of Drake, Tinie Tempah and more. His songs still tops Billboard’s top 100 Hot music. His musical career can be traced back to 2009 in Empire Mates Entertainment E.M.E records owned by “Banky W” where he recorded his debut album “Superstar” in 2011, which had the Hit track “Hola at Your Boy” which apparently shot him to lime light.
In 2012, Wizkid signed a one-year endorsement deal with Pepsi reportedly worth 350,000 U.S dollars. On 28 May 2013, Wizkid signed a one-year deal with MTN Nigeria. Wizkid’s Pepsi contract was renewed for another two years. On 23 October 2013, Wizkid signed an endorsement deal with Guinness for the “Guinness World of More” concert, which was held at the Eko Convention Centre of the Eko Hotel and Suites in Victoria Island, Lagos on 3 November 2013. On 18 June 2015, Wizkid ditched MTN and signed a ₦128 million deal with GLO.
His net worth as estimated by Forbes is N8billion
3. Don Jazzy
Michael Collins Ajereh known by his stage name Don Jazzy was born on November 26 1982, Don Jazzy is a Nigerian record producer, singer, songwriter, and entrepreneur. He co-founded the now defunct record label Mo’Hits Records in 2004. Following the closure of the record label, Don Jazzy set up Mavin Records on May 8, 2012. Don Jazzy is Isoko from Delta State. His mother is an Igbo princess from Abia state, He was born in Umuahia, Abia State. His family moved to Ajegunle, Lagos where he was raised. Jazzy found interest in music early in life and at age 12, began to play the bass guitar. Jazzy enrolled in business management studies at the Ambrose Alli University, Ekpoma, Edo state.
In 2000, Don Jazzy visited London. His uncle had invited him to play the drums for the local church. In London, Ajereh gained employment at McDonald’s as a security guard. He continued his interest in music, associating with Solek, JJC, Kas, The 419 Squad and D’Banj. Ajereh learnt producing skills from Emeka Infiniti at O-Town record company.
Don Jazzy has mouth watering endorsement deals with the likes of Loya Milk and Sky Vodka.
Jazzy is estimated by Forbes to worth N7billon
Oladapo Daniel Oyebanjo, known by the stage name D’banj also known as the Kokomaster or Bangalee, is a Nigerian musician, singer, songwriter, entrepreneur, television personality, and rapper. He has won several music awards to his credits, including the awards for Best African Act at the MTV Europe Music Awards 2007, Artist of the Year at the MTV Africa Music Awards 2009, Best International Act: Africa at the 2011 BET Awards, and Best-selling African Artist at the 2014 World Music Awards, Evolution award at the 2015 MTV Africa Music award D’banj was born in June 9, 1980 in Zaria, the northern part of Nigeria to a military officer who commanded an artillery regiment and a devout church dignitary businesswoman who hailed from Shagamu in Ogun State. Due to his father’s profession he moved several times within Nigeria and later moved to England. D’banj was expected to follow his father’s military career and was enrolled to the Nigerian Military School at age eleven. However, D’banj resisted the system and disenrolled from the school after three years. While at the Military school he was a member of the elite drum corp of the Nigerian Army. From the Nigerian Military School he proceeded to another military owned institution Nigerian Navy Secondary School, Ibara, Abeokuta where he was a church worker. There he completed his secondary school education.
D’banj’s first album came his first endorsement from an energy drink called Power Fist. In May 2013, D’banj was named the Bank of Industry (BOI) ambassador. In November 2013, D’banj re-signed a multi-million Naira deal with Globacom, the company he parted ways with in 2010. In June 2014 D’Banj Secures Deal With Heritage Bank. In October 2014, D’banj was named the official African ambassador for Beats by Dre. In February 2015, D’banj was named the official African ambassador for Ciroc Nigeria. In September 2015, D’banj was made the brand ambassador of SLOT, a popular mobile phone, and electronic gadget retail outfit.
He is estimated by Forbes to worth N6billion.
Innocent Ujah Idibiain known by the stage name 2Baba was born on 18 September 1975 in Jos, He is from the Idoma ethnic group in the southern part of Benue State, in central Nigeria. 2Baba, is a Nigerian singer, songwriter, record producer and entrepreneur. Prior to July 2014, he went by the stage name 2face Idibia. He is one of the most decorated and successful Afro pop artists in Africa, and is also one of the most bankable artists in Africa.
2Baba has received one MTV Europe Music Award, one World Music Award, five Headies Awards (Hip-hop award), four Channel O Music Video Awards and one BET award for his musical work, four MTV Africa Music Awards, one MOBO award, one KORA award.
He was awarded a fellow of the school of music by the Music Department, Obafemi Awolowo University. This made him the pioneer recipient of the award which was presented to him at the first public lecture and fellowship award, held on the 20th of March 2019.
2Baba has endorsement deal with the likes of Globacom and Campari
2Baba is estimated by Forbes to worth N5.9billion
6. Peter and Paul Okoye
Peter and Paul Okoye where members of the defunct “Psquare” a record label that hosted the duo. Although they currently have their individual record label now, we had to group them together because they have similar net worth. Currently they go by the stage name Mr P and Rude Boy respectively.
Psquare is estimated by Forbes to worth N5.6billion
Enitimi Alfred Odom known by his stage name Timaya, is a Nigerian singer and songwriter. He is the founder of South South hip hop group Dem Mama Soldiers, Enitimi Alfred Odom was born on 15 August 1980 in Port Harcourt, Rivers State. He grew up as part of a large family; the youngest of fifteen children in Agip Estate, Port Harcourt. His father was a banker and his mother was a trader. Timaya shot into lime light in 2005 when he released his Hit single “Dem Mama” This was followed by his debut album “True Story” in 2006, He released His second album Gift and Grace in 2008. Timaya gained further popularity and international relevance through his third studio album De Rebirth—released in partnership with Black Body Entertainment—and its lead single “Plantain Boy” Both were commercially successful. He collaborated with Dem Mama Soldiers on the album LLNP (Long Life N Prosperity). In 2012, Timaya released Upgrade, which spawned hits “Bum Bum”, “Sexy Ladies”, and “Malonogede”. To date, his work has earned him four Headies Awards, and one Nigeria Music Award. Timaya has endorsement deals worth millions of Naira with the likes of Globacom and Hennesy.
Timaya is estimated by Forbes to worth N4billion.
8. Banky W
Olubankole Wellington known by his stage name Banky W was born on 27th March 1981. Banky Wellington, is a Nigerian singer, rapper, actor and politician. Banky W was born in the United States to Nigerian parents. His family moved back to Nigeria when he was five years old. Banky started singing at a young age in his church choir. He schooled in Lagos for his primary and secondary education and returned to further his tertiary education at Rensselaer Polytechnic Institute, New York on a scholarship. He started his record label E.M.E in 2002 while studying. In 2009, he left the US for Nigeria and established his record label in Lagos where he signed the likes of Niyola, Shaydee, Skales and Wizkid to the label at the time. His breakthrough debut studio album, “Back in the Building” was released in 2005. He wrote the first theme song of the defunt Etisalat Nigeria titled “0809ja for life” Banky has endorsement deals worth millions of Naira with the likes of Samsung Mobile and Uber.
He got married to Adesua Etomi traditionally on 19 November 2017 and subsequently did his white wedding in South Africa on 25 November 2017. He had a successful skin cancer surgery on his shoulder in 2017
Banky Wellington is estimated by Forbes to worth N3.5billion
Olamide Adedeji Olamide was born in Bariga, Lagos State on the 15th of March, 1989. In 2000, he decided to pursue a career in music. When asked why music, he said: “I found out I was gifted in it so I had to explore it. It’s my life, my hustle, my world”. In 2010, Olamide released ‘Eni Duro’ under the Coded Tunes record label which he was signed unto at the time. The song received nationwide relevance and instantly shot Olamide to limelight. In 2010, Olamide performed at The Hip Hop World Awards. He studied at Tai Solarin University of Education.
Olamide records mostly in Yoruba, his native language. In 2011, he released his debut studio album Rapsodi while signed to Coded Tunes. YBNL, his follow-up album, was released under his label imprint YBNL Nation. The album was supported by the singles “First of All”, “Voice of the Street”, “Stupid Love”, and “Ilefo Illuminati”. On 7 November 2013, he released his third studio album Baddest Guy Ever Liveth. The album’s singles include “Durosoke” and “Yemi My Lover”.
On 17 July 2013, Olamide became the first Nigerian to sign an endorsement deal with Cîroc. Olamide has been nominated and won several music awards, including multiple Nigeria Entertainment Awards and The Headies Awards.
Olamide is estimated by Forbes to worth N3billion
10. Flavour N’abania
Chinedu Okoli was born on 23 November 1983, better known by his stage name Flavour N’abania or Flavour, is a Nigerian singer, songwriter, multi-instrumentalist and performer.
Chinedu was born in Enugu State, Nigeria. His family is originally from Umunze in Orumba South LGA, Anambra State, Nigeria. Flavour began his music career at the age of 13 when he started playing the drums for his church choir in Enugu. The resident pastor at his church introduced him to a friend, Chris I. Ordor, the CEO of SoundCity Communications. In 1996, Flavour was invited to join the company on an educational scholarship to study music. After three years of playing the drums, Flavour started playing the drums professionally.
n 2005, Flavour released his self-titled debut album N’abania. In 2010, Flavour released his second studio album Uplifted. It was supported by the singles “Nwa Baby (Ashawo Remix)”, “Adamma”, and “Oyi Remix”. The album’s success made Flavour one of Africa’s most sought for artists. Flavour was booked to perform at numerous concerts and social events following Uplifted’s release.
He is the brand ambassador of Flat Tummy Tea, Bullet and MTN Nigeria.
Flavour is estimated to worth N2.9billion