Nigeria’s music and entertainment industry has expanded rapidly, transforming it into a cultural powerhouse that exports talent all over the world. From the iconic beats of Fela Kuti and Sunny Ade to the global anthems of Wizkid and Burna Boy, the business has grown into a N2 trillion behemoth, with a considerable impact on the country’s GDP.
In 2022, Spotify stated that Nigerian musicians generated N11 billion ($14 million) in revenue, which increased to N25 billion in 2023, representing a more than 100% growth in streaming income year on year.
According to the National Bureau of Statistics, motion pictures, sound recording, and music production will make a significant contribution to Nigeria’s GDP in 2023, accounting for 82.16% or N1.62 trillion of the N1.97 trillion generated by the arts and entertainment industry, or approximately $1.81 billion.
The expanding business has attracted large international music corporations, who have partnered with local labels and signed Nigerian musicians, improving production quality while also rising expenses.
As the industry strives for a $15 billion valuation by 2025, the role of record label CEOs in developing talent and pushing innovation is more important than ever. Here, we highlight the top 10 record-label CEOs who are not just operating businesses but also shaping the soundtrack of a generation.
1. Michael Collins Ajereh (Don Jazzy) – CEO, Mavin Records
Michael Collins Ajereh, often known as Don Jazzy, is connected with the growth of Nigerian pop music. Don Jazzy began his career in the United Kingdom before returning to Nigeria to establish Mo’ Hits Records, which ultimately became Mavin Records, in 2012.
Under his leadership, Mavin has served as a platform for multiple generations of musicians. His international experience includes working with Kanye West’s GOOD Music label, which has only enhanced his production skills. Don Jazzy’s influence extends beyond music, affecting the entire entertainment industry.
2. Godwin Tom – Managing Director, Sony Music West Africa
Godwin Tom became Managing Director of Sony Music West Africa in 2022, bringing more than two decades of industry experience. Godwin, a former talent manager for singers such as Wizkid and Davido, has an eye for identifying and developing talent. His leadership at Sony focuses not just on artist development, but also on improving the infrastructure that supports African artists, allowing them to expand their global reach.
3. Abuchi Peter – CEO, Chocolate City
Since taking over as CEO in 2021, Abuchi Peter has guided Chocolate City to new heights. Chocolate City, known for its extensive roster of legends such as M.I Abaga, has played a crucial role in defining African urban music. Abuchi’s expertise in business management, as well as his previous work as the label’s Vice President, have given him the knowledge he needs to prosper in the competitive music market, propelling the label forward through strategic collaborations and expansions.
4. David Adeleke (Davido) – CEO, DMW (Nine+ Records)
David Adeleke, widely known as Davido, is a successful businessman in addition to his Afrobeat fame. He founded DMW in 2016 and has used his platform to showcase and mentor fresh talent such as Mayorkun and Dremo. He recently expanded his empire by collaborating with UnitedMasters to start Nine+ Records, a label that aims to combine African talent with global music industry expertise.
5. Olamide Adedeji – CEO, YBNL Nation
Olamide, often known as Baddo, is a trendsetter in Nigerian music. His label, YBNL Nation, exemplifies his idea for street hop, which combines indigenous languages with contemporary sounds. Since its establishment, YBNL has hosted some of Nigerian music’s top names, including Fireboy DML and Asake. Olamide’s leadership extends beyond song production; he mentors his performers, guiding them through the complicated music industry.
6. Charles Enebeli – CEO of Jonzing World
Charles Enebeli, often known as D’Prince, is a prominent figure in Nigeria’s music industry. When he launched Jonzing World in 2019, he made an immediate impact by recruiting Rema, a tremendous talent. Under his direction, Jonzing World, a Mavin Records label, has become identified with creative Afrobeat sounds. D’Prince’s past as a recognized musician provides him with a unique viewpoint on artist development, allowing his label to nurture fresh talent. His strategic actions and collaborations continue to boost the label’s reputation in the worldwide music industry.
7. Sipho Dlamini – CEO of Universal Music Group Sub-Saharan Africa
Sipho Dlamini has extensive expertise to his role as CEO of Universal Music Group for Sub-Saharan Africa. Dlamini’s extensive expertise, which spans continents and responsibilities ranging from concert promotion in the United Kingdom to operations management in Dubai, has equipped him well for his current position.
Since taking over at UMG, he has been crucial in establishing influential subsidiaries such as Def Jam Africa, which has expanded UMG’s reach across the continent. His efforts have considerably increased the global appeal of Afrobeats, making African music more accessible to a wider audience.
8. Tunji Balogun – CEO of DEF Jam
Tunji Balogun’s career in the music industry has been distinguished by a number of successful artist signings and unique ventures. As CEO of DEF Jam, he continues to have a significant impact on the music world. His recent return to Universal Music Group demonstrates a continuous dedication to developing and promoting elite talent.
Balogun’s ability to identify talent in musicians and guide them to international acclaim has helped DEF Jam cement its position as a music industry powerhouse.
9. Valentine ‘Valo’ Ngaji – CEO of KeyQaad
Valentine ‘Valo’ Ngaji, the aggressive CEO of KeyQaad, has quickly established himself and his label in the competitive Afrobeats market. His strategic vision in recruiting Omah Lay, who rose to prominence under his leadership, demonstrates his ability to find and support exceptional talent.
Valo’s past experience in music programming and management at several radio stations gave him the abilities needed to take KeyQaad to new heights.
10. Oluwatosin Ajibade – CEO of emPawa Africa
Oluwatosin Oluwole Ajibade, popularly known as Mr. Eazi, has transcended his role as an artist to become a notable figure in the music business with his initiative, emPawa Africa. Launched to support emerging artists, emPawa provides mentorship, financial grants, and a platform to showcase their talent.
Mr Eazi’s innovative approach to music and business has not only fostered a new generation of artists but also propelled Afrobeats onto the global stage. His work through emPawa underscores his commitment to empowering artists and reshaping the music industry landscape.
