Nigerian music industry produces more than 550 albums annually. The sales of the CDs have tripled in past 5 years. It is projected to reach 1 billion dollar next year, as more and more people enjoy latest Naija mp3 music. It is a significant growth, and artists are now minting money like never before.
Today, revenues of Nigerian live performance have reached roughly 105 million dollars. Now, artists have found good opportunities in the form of digital platform to develop their music, videos, and other contents. Even the mobile companies have generated approximately 150 million dollars selling the pop music ringtones in 2011.
Music has turned out to be a glamorous business and in the last 10 years, several artists have ascended from nothing to something big. They are living flamboyant lifestyles, so plenty of Nigerian youths believe that making an album or shooting a video can have them driving a Bentley by next week.
Here are some Nigerian musicians whose net worth is evaluated not on the money he or she has in their bank accounts. A musicians net worth has to be on the basis of their –
Musicians do not earn merely by selling albums, but from Loyalties, YouTube partnership, concerts, ringtones, endorsements, sponsorships, and appearances.
Accurate ranking of Nigerians richest musicians can be found on the internet, but remember it fluctuates regularly. Thus, below is a dynamic list of richest musicians of Nigeria along with their anticipated net worth for 2015.
P-Square – $128 million
R&B duo are richest African rappers. They always come up with some unbelievable songs. You can say they compete with themselves.
P-Square music video displayed on YouTube stats –
- Teste The Money – 9 million +
- Do me – 14 million +
- Beautiful Onyinye – 22 million +
- Chop my Money – 24 million +
- Personally – 42 million+
The only celebrity that owns a manor in BananaIsland, the properties sold here are extremely expensive.
Don Jazzy – $35 million
Don Jazzy is an extraordinary producer with a lot of respect and money in the music industry. Not a singer but a creator of superstars likes D’banj, D’Prince, Dr.Sid, Wande Coal and K.Switch.
He has signed many profitable deals with Samsung, MTN, and Loya Milk. Even has invested in real estate business as well as oil & gas sector. Don lies in a manor in Lekki as well as rides in a Porsche Carrera glamorously.
Flavour – $28.5 million
Flavour Nabalia is the best, whose voice cannot be mimicked. He is a whole entertainment package including pure vocal talent, physical appeal, and mastery of playing music instruments.
D’banj – $25 million
D’banj has risen from streets and reached Koko mansion. He proved that to become successful, there is no need to look elsewhere, but polish your talents. His song dethroned Chop My Money (P-square’s song) temporarily in 2013 and was titled as highest viewed Nigerian song.
D’banj not just outshone in the music sector, but also turned out to be a sharp businessman. Besides owning several exotic cars, he owns a mansion worth millions, along with other properties spread across the nation.
Other respected Nigerian music net worthy celebrities are Tu Face, Davido, Iyanya, Wizkid, Banky W, Timaya, MI, KCee, and Tiwa Savage to name a few. Nigerian DJ’s and Clubs are responsible to spread Nigerian music in the world.