Nigeria's Richest Rappers

Who has dominated the African rap music industry?

By  | Mar 26, 2021, 11:58 AM  | Top of The

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Who's dominating the rap music industry with their punch lines? When it comes to the richest rapper in the world, there's debate around this coz we know it's Jay Z. Some have tried to argue that it's Kanye West, Drake, or Eminem, but Jay Z has won so many accolades to support his title. 

From shows, tours to endorsement deals, music labels, sales of their albums, and winning series of awards internationally, these Nigerian rappers keep making bank.

Some have even been listed by Forbes as the wealthiest.

Let's have a look at Nigeria's richest rappers who keep putting the nation on the map.


Olamide Adedeji is a popular Nigerian singer-songwriter and indigenous hip-hop rapper. He is popularly known as known Olamide or Olamide Baddo.

Olamide was born on March 15, 1989 in Bariga, Lagos, Nigeria. After his primary and secondary education, he armed himself with a degree in Mass Communication from Tai Solarin University of Education.

Since he made his industry debut in 2011 with the lead single, ‘Eni Duro’ off his debut album, ”Rapsodi”, Olamide has grown into a force that cannot be stopped with his reputation hitting through the ceilings.

Olamide is the owner of the record label YNBL which has seen many artists signed under it. He's helped in grooming new artists, the likes of Adekunle Gold, Lyta, and Lil Kesh who have enjoyed nothing, but success in their careers. 

His musical success has availed him numerous opportunities to be endorsed as a brand ambassador to some top companies. Some of these brands are Hennessy, Globacom, Etisalat. Also, Olamide became the brand ambassador for the Goldberg Lager beer in April 2019 earning him millions of naira. With his endorsement deals and assets, he must be worth millions.

Net Worth: $12 million


Phyno. Chibuzor Nelson Azubuike, better known as Phyno, is a Nigerian rapper, singer, songwriter, and record producer. He started his music career as a producer in 2003.

He is renowned for rapping in the Igbo language. He told the Nigerian Tribune that he raps in Igbo because he respects his culture and loves being himself. Although he primarily raps in Igbo, he combines a bit of Nigerian Pidgin and English in his music.

He was born on the 9th of  October 1986 and raised in Enugu State.

He initially wanted to become a pilot but was told that he could be a doctor. During his high school days, he learnt how to play the piano and drums. He studied public administration at the Institute of Management and Technology in Enugu, where he started making a profit from his music.

It was in 2010 that his rapping career kicked off when he relocated to Lagos. In 2012, he released the Olamide-assisted "Ghost Mode" as the album's lead single. It won Best Collabo at both 2012 The Headies Awards and 2013 Nigeria Entertainment Awards.

He's been recorded as the artist that has more endorsement deals than most rappers in Africa. All these deals are earning his millions which also help in keeping up a lavish lifestyle.

He is also the C.E.O of Penthauze Music which is a record label based in Nigeria. 

Net Worth: $10 million


M.I Abaga is a Nigerian rapper, a proficient record producer, songwriter, and instrumentalist. He is the C.E.O of Chocolate City one of Nigeria's largest record labels. His company, Chocolate City, just signed a jaw-dropping deal with Warner Music and that spells millions of naira flowing in his bank account.

M.I Abaga whose real names are Jude Abaga was born in Jos, Plateau State, on the 4th of October 1981 to Mr and Mrs Abaga.

It was when he was in secondary school that his passion for music was realized. His mother bought him basic music notations to learn more about music.

M.I delved into poetry at some point, and also did a bit of comedy, which didn’t work out well, so he decided to stick to music. His career kicked off in 2003 where he started producing mixtapes with his friend Djinee which led to the release of the hit single Safe.

With his imprint on the Nigerian music industry, fans describe him as Nigeria’s Hip Hop Messiah.

He's also had endorsement deals besides making music. In 2012, United Nations appointed M.I Abaga as a Goodwill Ambassador like Nomzamo Mbatha from South Africa. In 2013, he became the Glo Mobile brand ambassador alongside other Nigerian artists like Omawunmi, Burna Boy In the same year, he was chosen as one of the judges of the Glo X-Factor.

Net Worth: $8 million


Remilekun Abdulkalid Safaru, known by his stage names Reminisce and ALAGA IBILE, is a Nigerian singer, rapper, and songwriter from Ogun State. He performs in both English and his native language, Yoruba.

He was born on 26 January 1981.

In 2003, REMINISCE had his 1st professional recording, which provided him the opportunity to meet young talents like 9ice, Jahbless & Lord of Ajasa. Due to parental pressure, he had to take a break from music, but he came stronger than ever.

In 2008, Reminisce marked his return with his appearance on his old pal(9ice's) GONGO ASO album. He dropped a verse on the track BACHELOR'S LIFE that also featured SIX O & XP. REMINISCE is signed to Edge Records and is also the founder and creative director of LRR Records.

He released his second album Alga Ibile in 2013. The album featured artists such as Wiz Kid, Davido, Olamide, and Sossick. The album was an instant breakthrough and it sold an estimated million copies before the end of 2014. That same year, Time Magazine named Reminisce as one of seven “world rappers you should meet”.

2015 saw him sign up as the brand ambassador for Orijin and he went on to renew the deal the following year. Reminisce is also the brand ambassador for Samsung as well.

Net Worth: $7 million

These rappers are doing quite well for themselves and as long as they keep giving their fans good music, they get a thumbs up from us.

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Main image credit: Instagram/@phyno

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