Nigerian music industry is booming and this has attracted lots of foreign investors record labels and endorsement deals from multinationals. Music business is one of the best in the entertainment industry there are many record labels and talent management companies because of the huge Cash out.
Nigerian music industry has produced several billionaires and millionaires this is as a result of record sales, training paychecks, show performances, endorsement and commercials.
There are some of these artist who own fleet of cars, large amount of net worth, and even private jets.
Hip hop kind of music is a music genres that originated from the Bronx borough of New York City in the early the 1970s.
Please kind of music was developed by African Americans and Latinos in the United States.
Though this kind of music originated in the US that has spread to different countries including Nigeria and we are making the best of it Nigerian artist have been featured by foreign artists.
Two musicians like burna boy, Wizkid, davido, tiwa Savage, Simi and yemi alade have put Nigeria on the world map.
There are several rich hip hop musicians in Nigeria and they include olamide, phyno, banky w and timaya
They are worth millions if not billions of naira but let’s look at the richest of them all.
Ayodeji Ibrahim Balogun known popularly as Wizkid is one of Africa’s greatest musicians. In reality, he has been one of Nigeria’s biggest music exports in the last 4 years.
He was born into a polygamous family-he had three wives from his father. His mom is a Christian and his dad is a Muslim. At the tender age of 11, Wizkid who accompanied his mother to church started singing in his local church. Well he was a fine vocalist and he was a lead singer.
Wizkid released a number of albums before his big break came in 2009. He recorded an album as part of church choir. He later founded a singing group with five friends of his church, the group was named “Glorious Five.”
He worked under other names like “Glorious Five” as well as “Lil Prinz” until he eventually opted for the stage name Wizkid. He reportedly recorded an album with 7 tracks while using the name Lil Prinz.
The first break Wizkid has made in the music industry came in 2009. It is after having worked professionally with renowned singer M.I. The two artists recorded the award-winning track “Fast Money,” that not only went on to earn several nominations and awards but also earned a lot of airplay in both Nigeria and several other African countries.
His music career has flourished ever since, and he has had the opportunity to work locally and internationally with popular artists. Locally he collaborated with likes from among others Naeto C, 2Face Idibia, Sound Sultan, award-winning producer OJB.
He has collaborated globally with Drake, Trey Songz, Chris Brown, French Montana, Ty Dolla$ign, Kranium, among others.
The accomplishments of the singer are immense, including topping Billboard Hot 100 Music Chart, earning a nomination for the Grammy Award, numerous legit international collaborations, performing at international music events, etc.
Yet Wizkid has the money to show for it in all these activities. The Starboy honcho bills as gig fees about 12 million naira and more when it’s outside Nigeria.
Wizkid is a lavish King of wardrobes, vehicles, appliances, etc. Over the past 12 months, its net worth has jumped and is estimated at around N8 billion.The singer became famous when he released his debut studio album, Superstar (2011), the song “Holla at Your Boy.”.. Around the time he was signed on to Empire Mates Entertainment (E.M.E.) record label by Banky W.
In September 2014, he released his second studio album, Ayo, which was followed by six singles: “On Top Your Matter”, “Jaiye Jaiye”, “One Question”, “Bombay”, “Joy”, and “Show You the Money”.
Given his collaboration with Drake on the global hit, “One Dance,” which peaked at number one in 15 countries, such as the United States, United Kingdom, Canada and Australia, Wizkid gained international recognition in 2016.
Wizkid has worked with many other artists in addition to his solo work, and was featured on hits like “Fine Lady” (with Lynxxx), “Girl” (with Bracket),“Sexy Mama” (with Iyanya), “Slow Down” (with R2Bees), “Pull Over” (with KCee) “The Matter” (with Maleek Berry), and “Bad Girl” (with Jesse Jagz).
Wizkid was listed 5th on Forbes ‘ list of the Top 10 Richest / Bankable African Artists in 2013, and Channel O.
He became the first ever Nigerian artist to have more than 1 million Twitter followers in February 2014. He was also the first Afrobeats musician to feature on the 2018 Guinness World Records for his contribution to the hit song “One Dance” by Drake
In 2012, Wizkid officially signed a one year sponsorship contract worth 350,000 U.S. dollars with Pepsi. As a result, he flew with Tiwa Savage to Beirut, Lebanon for a commercial shoot at Pepsi.
Wizkid signed a one year contract with MTN Nigeria in 2013. That same year, for the “Guinness World of More” concert scheduled at the Eko Convention Center of the Eko Hotel and Suites in Victoria Island, Lagos on 3 November 2013, Wizkid secured an endorsement agreement with Guinness.
Wizkid dumped MTN in 2015 and signed a contract with GLO worth some ₦128 million. In 2019, he made a huge record smashing deal with United Bank of Africa for 1 billion naira making him the Nigeria artists with the biggest endorsement so far.