According to Hopper HQ, Davido ranked 57th position on the list of highest-paid Nigerians on Instagram this year.
The singer, who has a huge following of 20,408,979 on his Instagram account, has a cost per post worth $128,300 (N52,805,714.00).
Meanwhile, Funke Akindele, who ranked 70th with over 13 million Instagram followers, is the only Nigerian actress that made it to the list with a cost per post worth (N34,408,088.00).
Juventus player Cristiano Ronaldo is topping the list, with 295,984,958 followers and a cost per post worth $1,604,000.
The Guardian reports that the Portuguese can command $1.6m (£1.2m) to endorse social media products.
The football star is followed by Hollywood actor Dwayne Johnson whose cost per post is placed at $1,523,000.
KanyiDaily had also reported that Africa’s richest man, Aliko Dangote is the only Nigerian in Bloomberg’s yearly top billionaires’ list with $17.8 billion net worth.