The Nigerian music industry is one of the fastest-growing industries nationwide hosting many top international artists. This article contains a list of the Top 10 Richest Musician in Nigeria.
Over the years, Nigeria has grown a limitless reserved young talented artist as we’ve witnessed their brilliant songs and viral content, through consistency.
It could be unfortunate that most of your favorite artists might not be listed in this article. No cause for alarm as they would gradually be among the top richest artists in time to come.
If you carefully go through the background story of the top richest musicians like Timaya, Wizkid, 2face, P-Square, and many others, you would discover that they were not actually stable over the years but with their outstanding careers in the music industry, they have gained fame worldwide.
Success in their careers has also brought a great deal of financial incentive for them through their music, charge per shows, endorsements, and personal investments
In respect to this, we’ve decided to compile a list of the 10 richest musicians in Nigeria along with their current net worth according to Forbes Magazine and a short bio.
Top 10 Richest Musician in Nigeria 2022
Below is a list of the top richest musicians in Nigeria and their current Net worth. This list was complied using the figures from Forbes, their endorsements and charge per show.
1. Wizkid – Net worth of $21 Million Dollar
Topping our list of the top 10 richest musicians in Nigeria comes Ayodeji Ibrahim Balogun, known as Wizkid.
Wizkid is one of the Nigerian most talented artist who has featured several international artists like Drake, Tinie Tempah and more.
Apart from the music industry, Wizkid also secured many endorsements deals with top brand like MTN Nigeria and GLO (which paid him N120 million to become its ambassador).
He is currently a brand ambassador for Puma & JD Sports, this deal was announced back in 2020 worth hundreds of millions in Naira.
He is currently the official brand face for United Bank for Africa (UBA).
His UBA deal was reportedly valued at over $3 million.
Tecno being one of the popular phone manufacturers also have Wizkid as their brand ambassador.
There are other brands he is also repping like the Ciroc etc.
Aside from the money made from ambassadorial deals and partnerships, he charges as much as $250,000 as his booking fee outside of Nigeria, especially in Europe and America. Wizkid’s music catalogue is worth millions of dollars.
Wizkid’s net worth is placed at around $21 million dollars.
2. Davido – Net worth of $19.5 Million
David Adeleke, popularly known as Davido, is the second richest musician and artist in our list of top 10 richest musicians in Nigeria. His Net worth goes around $19.5 million dollars.
Davido has become one of the greatest music artists in Nigeria, Africa, and the world at large on account of top-charting smash hits in his super-promising music career.
I’m sure we’re familiar with Davido’s wealthy family background, however, Davido has made too much money as a musician.
Davido is always on demand all year round with no breaks in-between. He has made millions of dollars touring across Africa.
As one of the most-streamed Nigerian artists, he makes some very decent money as streaming royalties in the millions of dollars.
Aside the music industry, the DMW boss also makes money as a brand ambassador for top companies like Pepsi, Infinix Mobility, etc.
He recently joined Fin-Tech company Bitsika as an influencer and shareholder.
The Nigerians most popular artist Davido net worth is placed at about $19.5 million.
3. Don Jazzy – Net worth of $18.5 million
Collins Michael Ajereh, known as Don Jazzy, happens to be the third richest Nigerian Musician as of 2021.
Don Jazzy is not only a musician, but he is also a music producer and an entrepreneur. This rich music star is the CEO of the Mavins Records Label.
Don Jazzy known for his wonderful music production had signed several artist to his Records label. His hard work, in addition to his persistence, has helped him in his business dealings with artists both within and outside the country.
He is one of the most endorsed Nigerian celebrities and currently a brand ambassador for Glo, BetWay, VBank, Johnny Walker etc.
As an astute businessman and FX trader, he has some real estates across Nigeria.
Don Jazzy’s net worth is estimated at $18.5 million.
4. Burna Boy – Net worth of $17 million
Damini Ebunoluwa Ogulu with his stage name Burnaboy, is a Nigerian singer, rapper, songwriter, and dancer. Burnaboy comes from Mbiama in Ahoda West LGA of Rivers State.
The Atlantic Records artist has been ahead of his peers musically including those mentioned before him on this list. In the past three years, Burna Boy has made millions of dollars off his music as he is currently the most-streamed Nigerian artist at the moment.
Those music streams which run in billions are worth several millions of dollars for the singer.
Towards the end of December 2020, Burna Boy bagged partnership deals with fashion company BooHooMan and Beats By Dre.
He is also a brand ambassador for Star, Pepsi, Standard Chartered Bank etc.
Burna Boy net worth is valued to be around $17 million.
5. 2Baba Net Worth – $16 million
In the music scene, the legendary 2Face now known as 2Baba is a seasoned musician with over 2 decades on stage.
With such longevity in the Nigerian music industry, 2Baba has also accumulated riches over the years as an A-list musician.
Although artists are prone to a luxury lifestyle, the ‘Amaka’ hitmaker is also an aggressive investor. He co-owns the popular Rumours Night clubs in Lagos, some real estates across Nigeria.
2Baba recently started a massive Agro-business spanning hectares of land in his state of origin Benue.
He is also a brand ambassador to brands like Campari, Trophy Lager Beer, phone accessory maker Araimo etc.
His music catalogue is worth millions of dollars.
2Baba net worth is pegged around $16 million.
6. Olamide Net Worth – $12 million
Olamide Adedeji chose to retain his first name Olamide on stage. However, he is also called Baddo due to his street music’s nature.
Olamide, who now has an estimated net worth of $12 million, commenced his journey into the music world with the Coded Tunes label but currently puts a lot of effort to raise a few other artists through his YBNL record label.
Olamide is the leader of one of Nigeria’s most successful record labels YBNL.
Last year he bagged a music distribution deal with American music company Empire
Read Also: Nursing schools in lagos
Olamide happens to be the 6th richest musicians in our list of Top 10 richest musicians in Nigeria as he has multiple sources of income ranging from his endorsement deals with iTel Mobile, Monster Energy Drink etc., premium booking fee, his music catalogue and many more.
He is friends with several politicians in western Nigeria which gives him some monetary advantage.
Olamide’s net worth is estimated to be $12 million – making him the 6th richest musician in Nigeria in 2021
7. Phyno – Net Worth of $11 million
The next top music star in our list of the top 10 richest musicians in Nigeria in 2021 is Chibuzo Nelson Azubuike, aka Phyno.
phyno is not only a talented musician but one who loves academics. he is one of the few nigerian musicians to have actually completed their undergraduate studies. in addition to being a successful musician, he is a graduate of public admin.
As one of Nigeria’s richest musicians, Phyno owns many extravagant assets such as a 3 bedroom duplex worth about N170 million at Chevy View Estate, Chevron Drive in Lekki, another mansion at Enugu State.
He also owns expensive cars, including a Rolls Royce Phantom
Phyno is the 7th richest musician in Nigeria in 2021, with an estimated net worth of $12 million.
8. Timaya – Net Worth of $10.5 million
“The plantain boy”, as Timaya always calls himself is the next on our list of Top 10 richest musicians in Nigeria.
Initime Alfred Odom aka Timaya is the king of dance hall in Nigeria with a strong vocal power in the industry.
He is among the best and perhaps the music star to be very successful out of the Niger Delta.
He is fondly called ‘Egberi Papa 1 of Bayelsa’. He has so many hit tracks and other businesses he does.
He has been fortunate to grab some endorsement deals which forms a small size of his net worth.
He is one of the highest-paid Nigerian singers in terms of the booking fee.
As an artist who drops hits every year he is always performing at one show or concert or the other.
Timaya’s net worth is placed at about $10.5 million.
9. Mr P (Peter Okoye) / Rudeboy (Paul Okoye) – Net Worth of $10 million each
Peter and Paul Okoye, the twin music artists, became stars from standing together to form the P-Square music brand. This duo made it to our list of the top 10 richest musicians in Nigeria in 2021.
Although their breakup may have brought a little setback in their finances, the twins are still some of the richest artists in the game
Mr P has been diversifying from music setting up businesses while Rudeboy, on the other hand, has been busy touring and performing at events.
Both Mr P (Peter Okoye) / Rudeboy (Paul Okoye) net worth is estimated at about $10 million each.
10. Flavour Net Worth – $9.8 million
Flavour has made the 10th on our list of Top 10 richest musicians in Nigeria. He is a top tier African artist that has performed across the length and breadth of Africa.
The indigenous highlife singer charges as much as $100,000 and more for a show.
Flavour is not a stranger to endorsements as he has bagged several mouthwatering deals, notably his current deal with Life Lager Beer.
He has some big money investments across eastern Nigeria in his name. He remains himself like no other and no one could imitate him no matter the effort they put in.
Flavour estimated net worth is put at $9.8 million.
Top 10 Richest Musician in Nigeria (SUMMARY)
Here’s a quick recap of the 10 richest musician in Nigeria:
Did your favorite musician appear on this list of the top 10 richest musicians in Nigeria? I was expecting to see Mr. Eazi, but can’t locate him.
Please Leave a comment below.