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  • BizzyNews
  • Oct 13, 2018
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#10. Olamide

Olamide is the tenth on our list of top wealthy Nigerian musicians this 2018 according to Forbes. Popularly known as Badhoo, he has released a lot of hit songs that support his claim as one of the country’s top artist.

He was born in Bariga, Lagos and since he burst out on stage, he has been successful. Apart from being one the best rappers in Nigeria, Olamide is the CEO of one of the most popular music record labels in the country – YBNL Nation.

He has sold over 40 million copies of his music worldwide. Some of the hit songs by Olamide include: Science Student, Wo!!, Bobo, Fada Fada (featuring Phyno), Melo Melo, Lagos Boys, Story For The Gods, Eni duro, Owo Blow, Ilefo Illuminati, Goons Mi, etc.

This popular Nigerian artist makes a great chunk of his wealth from collaborations with other musicians. Olamide has invested as a business man and he is a brand ambassador. Olamide has signed an endorsement deal with Ciroc which is worth 30 Million naira, he signed with Guinness as their brand ambassador in a deal worth N80 million including that of 9mobile (formerly Etisalat) for a sum of N50 million.

Also, Olamide charges from N3 to N5 million per show as he travels to country’s like Ghana, South Africa, UK, Europe, America and France for his yearly tour. Olamide net worth is estimated at N5 billion. He has investment in the oil and gas sector as he currently owns two filling stations aside his numerous landed properties which he invested in. He is not currently married but have children.

#9. Phyno

The ninth richest musician in the country is Phyno fyno. His name is Azubuike Nelson Chibuzor. He and Olamide are best of friends and both these wealthy celebrities are ruling the entertainment scene for a decade now.

As of now, he is the best Igbo rapper in the country. The award winning hip hop artist has built a brand that might be difficult to surpass. His songs puts him above other artists in the country today. Phyno lives a rich life style and his assets and endorsement deals are also mouth watering.

Phyno like Olamide has invested his cash into real estate and other money spinning ventures. Both celebrities have taken the rap game to the next level and show no signs of declining. Phyno charges about N2.5 to 3 million Naira for shows and his net worth is estimated to be N5.5 billion.

#8. Banky W

Banky W a.k.a Olubankole Wellington is 8th top richest Nigerian musician and his net worth is an impressive N6 billion as estimated by Forbes list. Since his Ebute metta release, this popular artist has soared high in the music and entertainment industry.

Before he married popular Nollywood actress, Adesua Etomi, he brought Wizkid, Skales and some other big names in the musical scene into the limelight. Most of the songs written by Banky W are love songs.

One of his hit track that changed his lifestyle was the “0809ja 4 lyf” which Etisalat used as their theme song. He was paid a very huge undisclosed amount of money for that alone which according to sources runs in millions of naira.

Banky W is a brand ambassador for top multinational organisations like Samsung, Uber etc. The talented singer has ventured into acting, film production, and public speaking.

#7. Timaya

Timaya’s real names are Inetimi Alfred Odon. He is a popular Nigerian singer, musician and songwriter. From his humble beginnings, Timaya became famous since he began his musical career in 2005 till date.

Timaya’s net worth as estimated by Forbes stands at N7 billion. He also owns a successful record label called the South South hip hop group, Dem Mama Soldiers. His songs has also sold million of copies worldwide.

It might surprise you to know that Timaya charges 8 million Naira to perform at any event in the country and beyond. Presently, Timaya has endorsements deals with Nigerian Telecommunications Giant, GLOBACOM and Cognac brand Hennessy which worth millions.

#6. Paul & Peter Okoye (Psquare)

There was once upon a time when the duo were the Forbes richest musician in Nigeria but this 2018 due to their splitting up, though still wealthy individually, they have fallen down the pecking order.

Rudeboy a.k.a Paul Okoye and Mr. P, a.k.a Peter Okoye were known as the Psquare brothers. They dominated not only the Nigerian music industry but Africa as a whole. Every one loved them because they not only sang but also danced.

Forbes ranked them to be estimated at $20 million in the past because they virtually topped the musical bill board almost every time and even charged the highest gig fee for a Nigerian artist for any show or event.

It was their elder bother, Jude Engees who produced and released their albums through their former record label, Square Records. The two artists since they split are still doing well and are still among the top ten richest musicians in Nigeria.

Apart from singing, these top celebrities have other assets and investments which the public don’t know about. We know that during their time together, Peter and Paul had many cars aside from landed properties all over the country and even abroad.


Peter okoye has solo endorsements deals with Kia motors, Olympic Milk etc. Mr. P on the other hand has his new clothing line awaiting official unveiling. They are worth 8 billion naira each.


Source: Nigerian Infopedia 

Blogger: Ugwuoko Angela Adaobi


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