Davido, with close to 21 million followers, has emerged the highest paid Instagram influencer from Nigeria and second highest in Africa after Mohammed Salah.
This does not include any compensation he receives for participating in commercials for the promoted products.
Also on the list is Yemi Alade who ranks number 67 with 14,461,667 million followers and makes an estimated $88,100.
She is followed by actress, Funke Akindele Bello on number 70 who has over 13 million followers and makes $83,600.
Tiwa Savage ranks number 74 and makes about $78,600. Wizkid follows at number 79 and makes about $77,000.
Actresses Mercy Johnson and Mercy Aigbe make about $65,300 and $61,500 and ranked number 90 and 92 respectively.