7 Richest People in Nigeria’s Media Industry

Nigeria’s media landscape isn’t just about breaking news and catchy tunes, the media scene has a league of exceptional individuals who have turned their talents into serious fortunes. Beyond the captivating entertainment,  these prominent figures have orchestrated financial triumphs that have multiplied their income.

From captivating shows to resonant musics and beyond, Nigeria’s media moguls have built fortunes that let them live large which is revealed in their opulent lifestyles, including luxurious automobiles, studious, estates, etc.

Let’s dive into the world of some of the affluent media magnates who have acquired magnanimous wealth in entertainment.

John Momoh

John Momoh, a transformative figure in Nigeria’s media, has cemented his status as one of the nation’s wealthiest media moguls. As the visionary behind Channels TV, he’s navigated the company from humble beginnings to global recognition. His leadership secured Channels TV’s “Best Television Station of the Year” accolades nine times, attesting to both its journalistic quality and financial success. 

The launch of premium programs like “News at 10pm” garnered international attention, boosting its financial standing. Momoh’s diverse ventures, including Channels Academy and philanthropic initiatives, showcase his financial acumen. Notably, he ranks among Nigeria’s Top 50 Rolls Royce owners, a testament to his financial prowess within the media domain. In a realm where influence is often tied to financial achievements, John Momoh’s rise as one of Nigeria’s richest media moguls underscores his strategic brilliance and enduring dedication.

Mo Abudu 

Mo Abudu, a pioneering force in Nigeria’s entertainment scene, ranks among the media industry’s wealthiest. Her journey from AVON Cosmetics ambassador to leading EbonyLife TV showcases her visionary prowess. She’s etched her name in African broadcasting history, captivating audiences globally. Renowned for shows like “Moments with Mo” and boundary-pushing films, she redefines Nollywood. 

Also, partnerships with Netflix and global giants underscore her industry influence as well as being celebrated by Forbes and The Hollywood Reporter. Her opulent lifestyle, residing in a ₦600 million Banana Island mansion and owning luxury cars—a Mercedes-Benz G-Wagon, Escalade ESV SUV, Lexus LX570, and Mercedes-Benz S-Class—reveals her affluence and elegance. She’s not just a creative visionary but a symbol of financial achievement and sophistication in Nigeria’s media sphere.

Linda Ikeji 

Linda Ifeoma Ikeji, Nigeria’s preeminent blogger, entrepreneur, and former model, stands as one of the wealthiest figures in the country’s media industry. With an impressive list of endorsements and promotions for renowned brands, Linda has secured substantial earnings. Hailing from Nkwerre, Imo State, she boldly expresses her thoughts, often venturing into controversial territories. 

Starting her blogging journey in 2006, Linda has become a household name in the local entertainment sphere. Her lavish acquisitions include a brand new Bentley Mulsanne car valued at $400,000 for her two-month-old son Jayce, demonstrating her financial prowess. She once bought 85 pairs of shoes worth 35 million naira to celebrate her 40th birthday in 2020.  Linda Ikeji’s journey is a testament to her influential status and financial achievements in Nigeria’s media landscape.

Don Jazzy 

Don Jazzy, the revered Founder and CEO of Mavin Records, shines as one of Nigeria’s wealthiest figures in the media industry. Michael Collins Ajere, also known as Don Jazzy, has forged a path as a music producer, singer, entrepreneur, and philanthropist. His significant wealth is a product of monumental endorsements and the resounding success of Mavin Records. As Nigeria’s richest music producer, Don Jazzy’s empire extends beyond beats and melodies.

There are reports that suggest his home boasts a value of ₦100 million, complemented by a fleet of cars exceeding ₦50 million. His financial acumen is evident in both his fortune and acquisitions. Notably, Don Jazzy has a number of endorsement deals with industry giants like Samsung, MTN, and so on. His wealth is evident in his mansion worth over ₦300 million and an impressive collection of luxury cars. Among them, are a gold-plated ₦65-million Bentley Flying Spur and a ₦22-million Porsche. Don Jazzy’s financial success mirrors his creative genius, cementing his status as a media mogul in Nigeria.

Dele Momodu

Dele Momodu, a distinguished Nigerian journalist, publisher, businessman, and motivational speaker, stands tall among the richest individuals in Nigeria’s media realm. As the visionary CEO and publisher of Ovation International, a globally recognized magazine, he has provided a platform that amplifies voices from across the world, with a focus on Africa. 

Momodu’s influence extends beyond print, as he launched Ovation TV in 2015 and later introduced The Boss Newspapers, an online publication. His achievements have earned him numerous awards and accolades spanning business, politics, literature, music, and fashion. Notably, Dele Momodu’s opulent lifestyle is evident in snapshots with his Bentley Flying Spur and Range Rover Sport SUV, signifying his financial success and prominence within Nigeria’s media landscape.

Davido 

Davido, the scion of Nigeria’s affluent Adeleke family, holds a prominent position among the wealthiest figures in Nigeria’s media industry. With a staggering average of 20 million YouTube views per video, his music prowess is undeniable. Ranking as the third-richest musician in Nigeria in 2023, Davido boasts a net worth of $27.6 million. Aligned with Sony Records, a label home to global stars like SZA and Pink, he commands international recognition.

Having clinched honors such as BET and MTV awards, Davido’s meteoric rise culminated in a performance at the World Cup closing ceremony in Qatar, solidifying his status among Nigeria’s richest musicians. His sponsorship deals, including associations with MTN, PUMA, and Guinness Nigeria, affirm his financial stature. His opulent lifestyle is evidenced by opulent homes in Banana Island and Atlanta, alongside a prestigious collection of luxury vehicles. As one of Nigeria’s richest musicians, Davido’s performances reportedly command no less than 10 million NGN each, underlining his influence in the media industry.

Jason Njoku

Jason Njoku, a Nigerian entrepreneur, and astute businessman, shines as a prominent figure in Nigeria’s media industry, boasting substantial wealth. As the CEO and visionary founder of IROKOTV, a widely popular video-on-demand service spanning West Africa, Njoku’s impact is undeniable.

Renowned as a tech pioneer in Nigeria, his contributions have earned him a place among Lagos’s wealthiest individuals, as recognized by various blogs. Business evaluations underscore IROKOTV’s staggering value of over $50 million, a testament to Njoku’s business acumen.

After several tech ventures, Njoku found resounding success with IROKOTV. At the age of 40, he stands as one of Nigeria’s youngest entrepreneurs, with an estimated net worth of approximately $50 million. His transformative journey underscores his resilience, with IROKOTV reshaping his life and establishing him as a prominent player in Nigeria’s media landscape.