In time past, music and acting were seen more as passion rather than a profession. However today, it has gone beyond passion and has become not just a vocation but also a money spinning machine. The entertainment industry has put food on the tables of these entertainers as well as opens up other areas of earning to them. Despite the unending that debates D’banj earns more than Tuface and PSquare, research details of Nigeria’s top earners
The singing and dancing duo, Peter and Paul Okoye, are unarguably the richest in the entertainment industry. They won the KORA award for Best Africa Artiste 2010 and the award came with $1m (N156m). Shortly after that they landed an endorsement deal with Globacom telecommunications worth about N240m for four years. As if that wasn’t enough, they had one of their greatest international gigs and an American tour of seven cities, which earned them a whopping $1m (N156m).
The duo built two houses within six months valued at N300m in the same neighbourhood and named it Squareville. They in addition own a hotel and two multi-million naira factories in Jos among other investments. The bulk of their earnings come from concerts and endorsements. The duo has sold above 14 million copies of their CDs since 2005.
Peter and Paul Okoye, who together form one of the biggest pop bands in Africa, recently also, confirmed that they have acquired a home in the city of San Francisco, Northern California.
Popularly known as the ‘Kokomaster’ or Mr. Endowed, Dbanj is one artiste that has got the penchant for making money. He certainly has very strong passion for business because Apart from music, Mr. Endowed has other businesses, which include the Koko Mansion, a TV reality show; Koko Lounge, an upscale hangout in Lagos and UK; Koko Foundation, a charitable organization and the recently-launched Koko Mobile, under his label Koko.
The bulk of his money comes from endorsements – his endorsement deal with Globacom telecommunications cost N70m. He has a multimillion naira endorsement with an energy drink, Power Fist; a deal with the makers of Virgin Colour soft drink; and another multi-million naira deal with a popular jeweller . He has a deal running into millions with Chris Aire, as the face of his watches and another one with UAC Foods. He collects between N5m and N7m as performance fees for local gigs; $80,000 to $150,000 for African shows; £40,000 to £60,000 for UK shows; and $50,000 to $60,000 for American shows.
Like Don Jazzy, D’banj also bagged a recording deal with Kanye West’s G.O.O.D Music; this will not only boost his career, but also churn in more cash. D’Banj once said, “I work hard so that money, awards, endorsements, bookings and kokolets chase me.” He is presently the owner of (DKM) records, where Davido is signed.
Innocent Idibia, popularly known as Tuface, who was once a member of the band, Plantashun Boyz, is believed to be one of the richest entertainers in Nigeria. He has two platinum records in his kitty and it is been speculated that he is worth over N1 billion.
This is by no means a surprise as he has had endorsement deals with brands like Guinness, from which he earned N20m and also Airtel, which earned him N22m in 2012. He was also said to have earned N30m from the producers of Phat Girls movie, and charges between N4m and N5m per show. Theartiste has invested heavily in real estate and stocks, where he earns big bucks. He once said he was set to recover all the wealth taken from Africa.
Michael Enebeli, also known as Don Jazzy, co-founder of Mo’Hits (now owner of Marvin Records) is reputed to be one of the best and most sought after producers in the showbiz world.
At age five, Don Jazzy already had eyes for the microphone as he was always in the studio. He was a member of Good Morning Kids, a group created by his father. Don Jazzy is also known for his business dexterity.
She started her acting career as a child actress in the then-popular television soap opera “Ripples” at the age of 8. She was also featured in several commercials, some of which included Pronto beverage and Omo detergent. In 1998, at the age of 19, she made her debut in the growing Nigerian film industry with the movie “Most Wanted.” As an upcoming actress, trying to carve a niche for herself, she went through various minor roles before her big break.
In 2002, she starred in the movie “Sharon Stone”, and her fame shot beyond the shores of Nigeria to the rest of Africa and several European countries. One can say that through the buzz, Genevieve reinvented the Nigerian film Industry, introducing Nollywood to the rest of the world.
But with fame comes wealth, she has accumulated lots of money throughout her career. At the moment, she earns no less than 1.4 million naira per movie. Her endorsement with Lux and many other multinational companies makes her arguably, the richest actress in Nigeria.
In recognition of her immense contribution to the Nigerian film industry, Genevieve has been presented with numerous awards, some of which have been in Dublin, London, and the United States.
He is arguably one of the brightest entertainers that has come out of the comedy industry following his multi million naira deal with Globacom which has put him ahead of his contemporaries, Basketmouth has reached the peak of his career and has subsequently been an anchor on MTV where he features celebrities on his show.
These days to have Basketmouth anchor your event and perform for about 30-45 minutes, you will have to pay at least a million naira and he anchors at least two events per week. He is definitely the biggest earner in the comedy industry.
Omotola Jalade Ekeinde:
Popularly known as Omo sexy, this actress is worth about 60 million naira and she has certainly paid her dues in the industry.
Omotola, who now charges N5m per movie has turned down scripts worth N3m and the recent one, a N2.5m role which Ireti Doyle took over. “Omotola got a whooping N5m for her role in the movie, ‘Amina’ whilst she earned N4.5m for her role in ‘Ties that Bind’ after a series of negotiations. She has also built a formidable music career that takes most of time, apart from the new reality TV show she just debuted.
Ini Edo began her film career in 2000, and has featured in more than 50 movies since. She has also gotten an endorsement with Glo as an ambassador which churned in millions of naira. She has also received various endorsements with reputable companies, among which is a deal with Noble Hair worth N40million. She is currently a producer and director.
Also known as Mr. Capable, Banky W has proved to Nigerians that he is capable of being among the richest entertainers in the industry. He makes the bulk of his wealth from gigs and is said to charge between 2.5 million naira ($15,800) and 3 million naira ($19,000) per show, and performs three to four times each week.
He is a brand ambassador for Estisalat, one of Nigeria’s telecommunications giants, where he featured in their popular commercial, 0809ja for life. He also featured in Coca Cola-Nigeria’s World Cup theme song and Microsoft’s Anti-cyber Crime Initiative. Banky W is an entrepreneur and has invested heavily in businesses that are fetching him good money. As a philanthropist, he founded the Mr. Capable Foundation, where he provides tuition fees for indi.
WizKid another young talent making wave in Nigeria and the world . He is one of the fastest rising Nigerian musicians around, at 23 this versatile act is believed to possess the qualities to take over the music scene especially with his recent collaboration, which earned him great collaborations with top world entertainers such as Akon, Young Jeezy, and Kardinal Official.
He signed a multi-million naira endorsement deal with Pepsi. Wizkid‘s new endorsement deal worth about $350,000 US dollars.
Wiz Kid is believed to have signed an undisclosed multi-million dollar deal with Akon’s Convict music label and the deal has set the young artist as the 4th richest artist in Nigeria at the moment. He also earns from weekly shows. Though the details of his earnings are not explicit, he is sure a top earner.