Observers are of the opinion that, if well harnessed by government, Nigeria's motion pictures industry, fondly referred to as Nollywood, can become the second most vibrant sector of the nation’s economy after oil.

The sector which came to existence with the production of the Igbo Box Office, “Living in Bondage” in 1992, has provided a source of livelihood to many youths who perhaps would have been wallowing in the unemployment market after passing through school.

It is no exaggeration to say that, apart from the glamour, glitz and razzmatazz associated with the movie subsector, many of those screen idols are multi-millionaires.

In this edition ofMaggie’s Blog, we present to you 10 of the richest Nollywood actors (actresses not included) and their networth in descending order. Enjoy.

1. Jim Iyke – Net worth $30 million

James Ikechukwu Okolue Esomugha, professionally known as Jim Iyke, began acting in 2001. He’s known to be one of the highest paid actors in Nollywood and has appeared in over 150 movies.

He started a movie production company, Untamed Productions in 2007. Jim Iyke also began his own music record label, Untamed Records. He produced a first album, titled “Who Am I?” featuring some of Nigeria’s top musicians such as 2Baba and the late Sound Sultan.

Born in Libreville, Gabon, the 44 years old controversial actor is an indigene of Enugu Agidi in Anambra State.

A Philosophy graduate from the University of Jos, Jim Iyke is unarguably the richest actor in Nollywood with a net worth of Thirty Million US dollars.

2. Richard Mofe-Damijo – Net worth $17 million

Richard Eyimofe Evans Damijo, popularly known as Richard Mofe-Damijo or RMD, is a former Commissioner for Culture and Tourism in Delta State.

The Theatre Arts graduate from the University of Benin and father of six who turned 60 on July 6 is also a law graduate from the University of Lagos.

He owns a Public Relations and Marketing outfit known as White Water, and has a net worth of Seventeen Million US dollars.

3. Desmond Elliot – Net worth $11 million

Actor, director, and politician,Oluwashola Desmond Elliot has starred in over two hundred films and a number of television shows and soap operas.

An indigene of Lagos State (mother is from Delta State), the 47 years old actor andEconomics graduate from Lagos State University (LASU) has been an elected member of the Lagos State House of Assembly since 2015, representing Surulere Constituency 1.

The father of four is involved in public relations for Globacom and has a net worth of Eleven Million US dollars.

4. Ramsey Nouah – Net worth $8.5 million

Born in Edo State to an Israeli father and a Yoruba mother who hails from Owo, Ondo State, the 50 years old actor and movie director grew up in Surulere, Lagos.

The diploma holder in Mass Communication from the University of Lagos who claims he went into acting because of financial challenges, today has a net worth of Eight Million, Five Hundred Thousand US dollars.

5. Chidi Mokeme – Net worth $8 million

Popularly known as GQ, Chidi Mokeme hails from Oba in Anambra State.

The pioneer host of Gulder Ultimate Search Reality-show, he has always been into business, one of which is a sex toy sales shop in Lagos.

The 49 years old easy going actor has a net worth of Eight Million US dollars.

6. Segun Arinze – Net worth $5.1 million

Industry “Bad boy” from Badagry in Lagos State, Segun Padonou Aina Arinze

started out professionally as a singer and an actor. It was singing that first shot him into prominence, and that was after the release of his debut album, Dream, which was not particularly a commercial success.

He started his acting career in Ilorin. Outside acting, Segun also is an actor coach and currently works with the prestigious African International Film Festival, passing his knowledge on to the next generation of actors.

Popularly known as Black Arrow which he gained from a role he played in the 1996 classic movie “Silent Killer” a film by the late movie producer cum director, Chico Ejiro, the 56 years old Dramatic Arts graduate from Obafemi Awolowo University’s net worth is Five Million, One Hundred Thousand US dollars.

7. Mike Ezurounye – Net worth $4.7 million

39 years old Uzoakoli, Abia State-born father of one (a son) and Accounting graduate from Nnamdi Azikiwe University, Mike Ezuruonye has featured in several Nollywood movies.

The former banker was nominated for Best Actor in a Leading Role for his performance in the movie “The Assassin” at the Africa Movie Academy Awards (AMAA) in 2009 and a nomination for Best Actor in Africa Magic Viewers Choice Awards.

Ezuruonye has a net worth of Four Million, Seven Hundred Thousand US dollars.

8. John Okafor – Net worth $4.2 million

John Ikechukwu Okafor popularly known as Mr. Ibu who will clock 60 in October is considered to be one of Nigeria's most talented and highly paid comic characters.

A former hairstylist and photographer, he also worked with a company that produces crates before he gained admission to study at the Institute of Management and Technology (IMT) Enugu.

The Enugu State-born actor has acted in more than 200 Nollywood movies and has a net worth of Four Million, Two Hundred Thousand US dollars.

9. Nkem Owoh – Net worth $3.9 million

Nkem Nwabuoku Owoh from Enugu State featured in the 2003 hit movie “Osuofia in London”.

He is also known for performing the song “I Go Chop Your Dollar” which was about advance fee fraud, what is popularly referred to in Nigeria parlance as 419. The song was featured in the film The Master in which Owoh played a scammer.

Born 63 years ago, the ace comedian has a net worth of Three Million, Nine Hundred Thousand US dollars.

10. Pete Edochie – Net worth $3.8 million

Pete Edochie is considered one of Africa’s most talented actors, being honored with an Industry Merit Award by Africa Magic and Lifetime Achievement by Africa Film Academy.

A seasoned administrator and broadcaster, he came into prominence in the 1980s when he played the lead role of Okonkwo in an NTA adaptation of Chinua Achebe’s all-time best selling novel, “Things Fall Apart”.

In September 2017, the ace actor from Anambra State endorsed Wikimedia movement in Nigeria by appearing in a video to increase awareness and use of Wikipedia among the older generations.

The BBC trained broadcaster has a net worth of Three Million, Eight Hundred Thousand US dollars.