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UPDATED: Top 10 RICHEST Musicians In Nigeria And Net Worth – 2020

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It’s 2020 and the music business in Nigeria is really profitable for all those involved. From the publicists, A&Rs, music producers, everyone in between down to the musicians, there is a lot of pie to go round.

Out of the lots involved in the music business, apparently the artistes themselves seem to get a larger share of the money except for label executives and investors. Well, it’s the artiste people get to hear and see at the end of the day, the embody the brand and music.

10. Mr Eazi

Born Oluwatosin Ajibade, Mr. Eazi is one of the biggest names in Afrobeats music in Africa. The Nigerian singer is easily one of the most-streamed African music act on Spotify. A little over a year ago, he launched his record label Banku Music and emPawa Africa to promote young African talents. Mr Eazi is one of the most-paid music stars with high fees for gigs and features. Heperformed at Coachella in 2019 and successfully organized Detty Rave concert two years in a row in Ghana. The ‘Lagos To London’ crooner has other interest in tech and agriculture. Mr Eazi’s estimated net worth is valued at about $11.8 million (N4.3 billion).

9. Timaya

Port Harcourt raised Nigerian dancehall singer Timaya is an A-List music star with millions of fans across the globe. He charges a huge fee to perform at different events where he is booked. Although he doesn’t flaunt his rich lifestyle Timaya has some beautiful real estate properties across the country. Timaya has had brand endorsement deals with Hennessy Cognac and Nigerian TeleCo Glo. Timaya’s estimated net worth is valued at about $13 million (N4.8 billion).

8. Burna Boy

The past 28 months have been a roller coaster ride for Nigerian Afrofusion singer Burna Boy. He did not only get a Grammy Award nomination for his album the African Giant he also became one of the biggest earners in the music industry. He performed at the Coachella 2019 and also made special guest appearances on some of America’s top TV shows. Burna Boy made over 200 performances across the world in 2019, his ‘African Giant‘ album made over 200 million streams on Spotify alone. He currently serves as a brand new ambassador for Star Lager Beer, Standard Chartered Bank Pepsi Nigeria. Burna Boy’s estimated net worth is valued at about $13.7 million (N5 billion).

7. 2Baba

In 2019 2Baba (2Face) celebrated two decades of being on stage as a Nigerian musician. Over the past 20 years, 2Baba has not only been churning hit songs but he is one of the biggest earners in the Nigerian music industry. He recently dropped a new album ‘Warriors’ as a testament of his longevity. The ‘African Queen’ crooner is one of the most endorsed Nigerian musicians form the Nigerian Stock Exchange (NSE) to mobile phone accessory maker Oraimo and other brands in between. He is also a serial investor in real estate and co-owner of Rumours Club in Lagos. 2Baba’s (2Face)estimated net worth is valued at about $19 million (N6.9 billion).

6. Peter Okoye

Peter Okoye also known as Mr. P takes position number 6 on our list of richest musicians in Nigeria. He was a former member of PSquare until the group split. Going solo has been quite good with Mr. P as he continued to tour Europe and America in the last year. He owns a clothing line called ZIP, he also holds endorsement and partnership deal with Olympic Milk, Kia Motors, etc. He also secured a music distribution deal with American music company Empire. He also has growing real estate concerns. Mr. P’s estimated net worth is valued at about $29 million (N7.1 billion).

5. D’banj

D’banj born Dapo Daniel Oyebanjo is the founder of DB Records and one of Nigeria’s finest entertainers. The ‘Oliver Twist’ crooner has been a brand ambassador to some of the finest multinational companies resident within and outside Nigeria. You will have to cut a huge cheque to have D’banj perform for any event. He owns several businesses outside of music. D’banj’sestimated net worth is valued at about $21 million (N7.7 billion).

4. Rudeboy

Paul Okoye aka Rudeboy is a former member of the music duo PSquare and one of Nigeria’s most popular artistes. 2019 was a great year for the singer as he found his way back to the top of things again as related to music by dropping back to back hits. He made a smash hit ‘Reason With Me‘ which was declared the most viewed Nigerian music video on YouTube last year with over 50 million views. Rudeboy is partners with sportswear makers Afa Sports. Last year the Nigerian musician had a tour of Europe and performed on some of the biggest stages in Africa. Rudeboy (Paul Okoye) estimated net worth is valued at about $21 million (N7.7 billion).

3. Davido

Davido isn’t just like the average Nigerian musician, he is fondly referred to as Omo Baba Olowo because he is son to Nigerian billionaire businessman Dr. Adeleke. However, he has earned his own money by sheer hard work and excellence. The DMW founder is easily one of the richest musicians in Africa. He has a string of endorsement deals to his name with Pepsi, Infinix Mobility, Travelbeta which run into millions of naira. He also has a hobby of collecting the best pieces of jewelry, his watch collection is world-class and also a growing fleet of cars. Davido in January of 2019 sold out the O2 Arena, London, he also dropped his sophomore album ‘A Good Time‘ which has so far over 50 million streams on Audiomack alone. He also began a North American tour which had to end because of Corona Virus pandemic. Davido’s estimated net worth is valued at about $26 million (N9.5 billion).

2. Don Jazzy

Michael Collins Ajereh aka Don Jazzy takes the second spot on the list. He is a veteran Nigerian music producer and record label CEO. These days Don Jazzy does not do endorsement deals anymore, he opts for business partnerships. The Mavin Records boss has an international superstar in the making Rema on his artiste roster among others. Mavin Records expanded to Mavin Global and later in 2019 he unveiled the label’s corporate headquarters and creative studio respectively. He is known as Nigeria’s biggest Twitter philanthropist. Don Jazzy’s estimated net worth is valued at about $27 million (N9 billion).

1. Wizkid

Sitting on top of the pile is Ayodeji Ibrahim Balogun known professionally as Wizkid. The ‘Come Closer‘ hitmaker is about the richest Nigerian musician at the moment. Over the years the Starboy has amassed multiple streams of income for himself, via music streams, concert fees, endorsement deals and partnerships. He charges about N50 million per show in Nigeria. He is a brand ambassador for Tecno Mobile, United Bank for Africa, Pepsi, and has also had partnerships with Nike and Daily Paper. Wizkid’s estimated net worth is valued at about $27.5 million (N10 billion).

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Mr Eazi proposes to Temi Otedola!

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For what seemed like a long while, celebrity power couple—Mr Eazi and Temi Otedola—are finally engaged as Oluwatosin Ajibade better known as Mr Eazi pops the heartwarming “Will you be my wife?” question to his girlfriend of 2 years Temiloluwa Otedola and she responded favourably in the affirmative “Yes” tone.

Fashion mogul and Icon Temi Otedola began dating artiste and music label CEO Mr Eazi in the year 2020 and have been living together ever since in their London apartment, sharing intimate moments, even meeting respective family members. This they’ve both shared in detail on their How Far? With Mr Eazi And Temi Otedola podcast.

Temi announced her engagement by posting the sea-side proposal of Mr Eazi on one knee asking the important question. The video goes by the simple caption of the infinity logo connoting they’re both locked in for life.

Congratulations to Temi Otedola and Mr Eazi!

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Nicki Minaj agrees “Essence” should be song of the year at the Grammys

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American superstar rapper, Nicki Minaj, shares the same sentiments as myriads of Wizkid fans and well-wishers worldwide, in that she concurs to the argument the trendsetting crossover record-breaking single from Wizkid’s 2020 released “Made In Lagos” album, Essence should be in the conversation for the coveted “Record of the Year” plaque at this year’s Grammy Awards.

Although “Essence” did not receive the much desired nomination in the category for “Record of the Year” at the 2022 Grammy Awards, it did get a nod for Best Global Music Performance, the first of its kind.

Irrespective of the snub, Nicki whilie on Joe Budden TV (YouTube) as a guest on the special episode tagged A Conversation With Nicki Minaj & Joe Budden agreed with the host (Joe Budden) when he said “We need people on the Grammy board that know that “Essence” was song of the year” with an exclamatory “Right! Right!” response. She even proffered, “We should have our own Grammy Board“, in support of many and the popular believe that Black Americans or black artistes in general are always stereotyped to a particular category at the award show, if indeed they made it to the top categories, they barely win; Nicki Minaj does not have a Grammy Award herself and that is still a shock to many, especially when considering her refined catalogue of music.

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Pheelz & Buju (BNXN) live the carefree lifestyle on “Finesse”

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After much teasing, the anticipated Finesse by Pheelz and Buju (now BNXN) hit DSPs across the globe and just like the teaser gave off, Finesse is a banger! It is produced by young producer under Pheelz’s wing known as Miichkel.

On Finesse, Pheelz and Buju live their life to the fullest, the carefree lifestyle is what they desire and they are determined to stay on that track for the time being. “I’ve been living the fast life but I see it in slow mo / And you see my lifestyle, I got Gs in the turbo / . . . / Bad girl sey she want Netflix & Chill / So I ja ticket give her warning / If you fall in love, girls it’s certain / You go chop breakfast, I’m not capping“, Pheelz explains on the first verse, even saying love and relationship cannot stop him from living the ‘ballers’ lifestyle; “I’d be dammed if there’s anybody that could be like me / I be like Mo’ Salah, coming up the right wing / I cut through your defender, you no need to tell me / I must finesse / And you know sey me I must net“, Buju braggingly adds on the second verse, saying he can score any chick that catches his eye and dish her the next minute.

listen to the popular joyous chorus “Ah finesse / If I broke na my business / Ama shana e go bright o / Folake for the nighr ohere or on Apple Music.:

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