Top 35 Richest Musicians in Nigeria for 2023

Written by Jeff Campbell in Solo Artists Last Updated December 9, 2022

Nigeria has produced incredibly talented musicians throughout the years. And many have reached high levels of success, not only locally but internationally as well. But who is the richest musician in Nigeria?

The wealthiest artist in Nigeria is Wizkid. Forbes estimates that Wizkid’s net worth is $21 million, making him the richest artist in Nigeria.

Below, I’ll not only answer that question in greater detail, but also give you the top 35 richest musicians in Nigeria. Nigerian musicians continue to create music people all over the world get to enjoy.

The prestige of the Nigerian music industry has stood the test of time, evolving from one era to the next. In our world today, musicians from Nigeria are mostly famous for their exceptional talent in the genre of hip-hop. Their influence truly transcends nations.

With the countless Nigerian performers, a lot of people are curious about their respective net worths—considering their impeccable influence in the music industry and their multiple endorsement deals.

Undoubtedly, Wizkid tops the list with a stunning net worth of $21 million US dollars. If you’re interested to learn who’s on the list with Davido, tune in as I break down the top 35 richest Nigerian musicians.

1. Wizkid

The wealthiest artist in Nigeria is Wizkid.

Forbes estimates that Wizkid’s net worth is $21 million, making him the richest artist in Nigeria as of right now.

The gifted musician increased his net worth in July 2019 after sealing a mega-deal signing for United Bank for Africa(UBA) as their brand ambassador. His tracks still rank in the top 100 Hot Songs on Billboard.

As the main artist on Beyoncé’s “Brown Skin Girl”, Wizkid received the Grammy Award for Best Music Video at the 63rd Grammy Awards in 2021.

2. Davido

In 2022, David Adeleke, professionally known as Davido, was ranked as Nigeria’s second-richest musician. According to estimates, Davido is worth $19 million.

His music and endorsement deals, such as the $78,296 MTN endorsement, have significantly increased his net worth.

Additionally, Davido performs at regional and international events, where he may make tons of money. Davido’s Instagram posts are projected to be worth $91,100 each.

In the list of the 30 richest celebrities on Instagram, he comes in at position 29.

3. Don Jazzy

Michael Collins Ajereh, better known as Don Jazzy, is ranked third among Nigeria’s richest artists according to Forbes.

He is believed to be worth more than $18 million. He’s also a music producer and the CEO of the Mavins Records Label.

Don Jazzy’s musical career began with his collaborations with D’banj. He co-wrote a number of successful songs with him, including “Mo’hits”.

In addition to his singing career, he has lucrative deals with businesses like MTN, Loya Milk, and V-Bank.

4. Burna Boy

Burna Boy has a $17 million net worth.

His decision to move to Lagos helped boost his career. When he released his breakthrough single “Like to Party” off his first album L.I.F.E in 2012, he began to garner recognition in the music industry.

Twice as Tall, Burna Boy’s most recent music album, was nominated for the Best Global Music Album Grammy Award in 2021.

He’s currently the brand ambassador for Globacom, Nigerian Breweries Plc, and Mortell Cognac.

5. 2Baba

One of the most well-known Nigerian musicians is 2Baba. His real name is Innocent Ujah Idibia.

According to Forbes, his net worth is $16 million, making him one of the richest artists in Nigeria in 2022.

He first gained attention in 2004 thanks to the “African Queen”. He has received several honors, including MTV Music Awards, Headies, and BET Awards.

In addition to owning homes in Ikeja, FESTAC, and Lagos state, he also has a home in the US.

6. Psquare

It’s almost impossible to talk about Mr. P without bringing up the now-defunct P-square. The stage name of the identical Okoye twin brothers is “P-square”.

P-first square’s biggest hit was the single “Senorita”, and it was followed by a string of other singles that opened doors for them all over the world.

The duo Peter & Paul Okoye cannot be disregarded while discussing successful music industry veterans. With a net worth of $16 million, they are listed among the top 10 wealthiest artists.

7. Olamide

Nigerian Yoruba Olamide Adedeji is a composer who gives his works a little of his native tongue. You could be curious as to whether he succeeds in the business, given that his songs might not sell in other places.

Yet, this artist is experiencing a major breakthrough. He is one of the wealthiest people in the world with a net worth of $12 million, a record label (YBNL), awards for Best Indigenous Artists, and more.

Rapper Olamide Badoo is from Nigeria and the head of the YBNL Nation record company.

8. D’banj

The singer got his start in music by using his late older brother’s harp. When he was 17, his younger brother died in an airplane accident.

D’banj kept his memories of him alive by playing the harmonica nonstop as a tribute to him.

He traveled to the UK in 2001 to finish his education but was forced to return after running across Don Jazzy, a young musician at the time. He’s one of Nigeria’s most well-known and wealthy singers.

9. Phyno

Rapper and record producer Chibuzor Nelson Azubuike, best known by his stage name Phyno, hails from Nigeria and has a $10 million dollar fortune.

He is the fourth of his parents’ five children. Before deciding to pursue music as a career, Phyno was raised in Enugu and completed his primary, secondary, and tertiary education there.

Like many other typical Nigerian teenagers, he wanted to be a doctor or a pilot, but destiny had different plans for him.

10. Timaya

Timaya is a singer, composer, and performer. It is anticipated that his net worth will increase to $10 million in 2022.

Timaya is known as Inetimi Timaya Odon in real life. He established DM Records Limited and made his solo debut in 2005 with the song “Dem Mama”, which was featured on his first album.

He has been recognized with a number of awards and nominations, including the NEA Award, two AFRIMMA Awards, one Nigeria Music Award, and four Headies Awards.

11. Tiwa Savage

The richest female artist in Nigeria is Tiwatope Savage, better known by her stage name Tiwa Savage, who is thought to be worth $24 million.

She studied at the Berklee College of Music, and she graduated with a degree in professional music in 2007.

In 2012, she traveled to Nigeria to work on her music career with Mavin Records after signing a recording contract with Sony/ATV Music. She is, without a doubt, the wealthiest female musician in Nigeria.

12. Flavour

One of the key figures in the music industry continues to be Flavour N’abania, whose real name is Chinedu Okoli.

Many fans of his well-known songs consider him to be the king of producing highlife music. When you have a strong desire for highlife music, Flavour’s name is typically a wonderful mention due to his amazing passion for the genre.

The superstar’s popularity has soared across African nations as a result of his name being on numerous massive endorsement deals.

13. Iyanya

Iyanya Onoyom Mbuk, a previous MTN Project Fame winner, has gained a lot of fame for himself in a remarkably short period of time.

The skilled hip-hop musician has distinguished himself in the entertainment world because of the success of his chart-topping album “Kukere”.

Iyanya is presently valued at N1.8 billion.

14. Jude M.I.

No one would be dubious if Jude M.I. Abaga is addressed as the most fortunate African rapper to have achieved such high levels of success.

To top off the outstanding reputation M.I has established for himself, his name is unquestionably listed among the owners of Chocolate City Records.

He is currently estimated to be worth very nearly N1 billion, according to reports.

15. Kcee

Prince Kingsley Chinweike Okonkwo is a talented musician who has achieved incredible success.

With the assistance of his two huge releases, “Limpopo” and “Pull-Over”, Kcee has shockingly progressed from being a member of the group KCPresh to accumulating millions of likes and pageviews on social media platforms.

16. Yemi Alade

One of Nigeria’s top female artists, Yemi Eberechi Alade, is reportedly the country’s second-best female musician.

She has gained a lot of social media fans because of the success of her blockbuster album “Jonny”.

Her present net worth is extremely close to N1 billion.

17. Ice Prince

Ice Prince is a disputed Hausa guy whose name is included on the list of Nigeria’s thriving rappers. He goes by the real name Panshak Henri Zamani.

With his immensely popular music video “Oleku”, Ice Prince revolutionized the music business.

The celebrity has a large following thanks to this video clip, which has generated millions of page views on social media.

18. Chidinma Ekile

Formerly a contestant in the MTN Project Fame, Chidinma has advanced from being merely a musician to becoming a well-regarded figure in the music business.

Aside from the enormous rewards and outstanding fame she has received for her amazing album “Kedike”, her gorgeous voice undoubtedly ranks her among Nigeria’s top vocalists.

With the fame and glory she has been enjoying comes the fortune she now enjoys.

19. Duncan Mighty

This powerful musician, whose name already connotes power, is unquestionably one of the finest musicians the Niger Delta has ever produced.

Many people from the Niger Delta areas have realized this, thanks to Duncan Mighty’s singing style, that their native singers continue to appeal to the local taste.

One of his most popular songs on social media, “Obianuju”, has helped the superstar establish himself as a famous performer and win over a large following and endorsement deals.

20. Banky W

Oluwabankole Wellington, professionally known as Banky W, is a Nigerian musician, rapper, actor, businessman, and the founder of EME. Later, EME became a branding and advertising company.

In 2002, Banky returned to Nigeria and started singing. In addition to being featured in several tracks, Banky W has collaborated with various Nigerian musicians.

He was diagnosed with skin cancer in 2017, and he thankfully recovered stronger. His net worth is $9 million.

21. Patoranking

Patroranking is a dancehall performer who decided to relocate to Ghana in search of better opportunities. He was 17 at that time.

His prayers were granted when he met Timaya, who signed him to Dem Mama Records.

Patoranking released Albukarika, a song to commemorate God’s blessings, and it marked a turning point in his life.

He is now one of Nigeria’s and Africa’s most well-known artists, with a net worth of $6.5 million.

22. Falz

Falz, real name Folarin Falana, is a Nigerian actor, rapper, and singer. After establishing the band The School Boys in high school, Falz started his musical career.

He studied law, but he always found a way to return to his first love. After releasing “Mary Me”, a single featuring Yemi Alade and Ladipoe, Falz gained popularity.

He was a nominee for the Nigerian Entertainment Awards’ “Best Rap Act of the Year” and “Best New Act to Watch” categories in 2015.

His net worth is $4.1 million.

23. Tekno

Following his performance of the song “Onye Ne Kwu” at an event in Abuja in 2012, Tekno caught the attention of well-known comedian Julius Agwu. He met Iyanya and Ubi Franklin on the same occasion, and the three of them hit it off.

After being signed by Made Men Music, he put out hits like “Dance and Anything”. Both domestically and abroad, his hit song “Duro” attracted a lot of attention.

Today, Tekno is now one of Nigeria’s wealthiest musicians, with a net worth of $4 million.

24. Kizz Daniel

Kizz Daniel is a talented musician with good looks to match.

In 2013, he signed with the businessman Emperor Geezy’s company G-Worldwide. In November 2017, he started his own label, Fly Boy Inc. Records, which has produced a ton of fantastic songs from the vocalist.

In 2021, he welcomed a set of triplets but lost one of them. His net worth is $1.5 million.

25. Eazi

Oluwatosin Ajibade, stage name Mr. Eazi, is a Nigerian musician, songwriter, and businessman. He invented Banku music, a mix of Ghanaian highlife and Nigerian rhythms and chord progressions.

Afrobeats, a contemporary West African pop genre that incorporates international pop, highlife, and hip-hop, is the primary category in which Mr. Eazi’s music falls.

The net worth of Mr. Eazi exceeds $1.8 million. Most of his revenue comes from concerts and appearances.

26. Reminisce

Reminisce, real name Alaga Ibile, is an Ajilete native who lives in the Ogun state in western Nigeria.

Reminisce picked up his rap skills by mimicking artists like Nas, Jay Z, and Snoop Dogg. He recorded a hardcore rap album and his debut studio single at Coded Tunes in 2006.

He chose to focus on his academics and complete his degree instead of releasing the record, as it was never made public.

His net worth is approximately $1 million.

27. 9ice

Alexander Abolore Adegbola Akande is a Nigerian singer and politician best known by his stage name 9ice AKA Alapomeji.

9ice left his legal studies at Lagos State University to pursue his lifelong dream of being a singer. 9ice has almost 20 years of experience in the music business and has inked sponsorship deals.

Throughout his career, he has also sold a lot of recordings. With a $1.08 million net worth, he is among the richest artists in Nigeria.

28. Runtown

Runtown is the stage name of Douglas Jack Agu, a producer, composer, and vocalist. He grew up in Abuja and Lagos.

Currently, Runtown’s net worth is thought to be $1.5 million.

He has a number of lucrative endorsement deals, including one worth millions of Naira with the world’s leading sports brand, Adidas, and another with the Nigerian telecoms company Telcos.

29. Harrysong

Harrysong is the stage name of Nigerian singer, songwriter, and instrumentalist Harrison Tare Okiri. His song honoring Nelson Mandela helped him gain popularity.

He won The Headies award in 2013 for the song, which was one of the “Most Downloaded Caller Tune” of its time.

Harrysong has a net worth of $1 million and a successful music career as one of Nigeria’s most talented singers and composers.

30. Small Doctor

Adekunle Temitope, stage name Small Doctor, was born in Lagos, Nigeria.

Many people who knew Small Doctor claimed that he had always loved music and had done so since he was a young boy. He listened to records of artists as children the majority of the time.

In 2022, Small Doctor has a net worth of $1 million.

31. King Sunny Ade

Since the early 1960s, King Sunny Ade, real name Sunday Adeniyi, has been actively producing incredible stuff.

He’s regarded as the “Minister for Enjoyment” and is an advocate for Glo. Some of his songs are considered “evergreen” and are still being played today.

He is rightfully regarded by many as one of the best musicians Nigeria has produced, even at the age of 70. KSA would have been the wealthiest artist today in Nigeria if he had the fame he did back in his heyday.

32. Frank Edwards

There are good reasons why Frank Edwards calls himself “Rich Boy”.

He may not be as well-known due to his kind of music, usually gospel or inspirational. But he is still one of the few who will stop at nothing to ensure that everyone in the nation is aware of gospel music.

His songs and albums can’t help but become anthems in churches and gospel radio or TV stations, and he works with both domestic and foreign artists.

33. Omawunmi

In addition to being a well-known household name, the singer and songwriter from the Delta state view her music profession as her life and only business.

Omawunmi Megbele is a brand ambassador for Malta Guiness, Konga, and Globacom Telecommunications.

She has transformed from “that” West African Idols runner-up in 2007 to a popular performer with several hits and two studio albums to her credit.

34. Lil’ Kesh

Even though Keshinro “Lil Kesh” Ololade is only 21 years old, people far older than him are envious of his life. He is thriving for someone so young.

The rapper and songwriter owe YBNL and Olamide “Badoo” his fame and professional success.

He released his debut single in 2014 with the song “Shoki”, and since then, he has released his own album and founded his own record label, YAGI. YAGI is short for “Young And Getting It.”

35. Wande Coal

R&B Afro-pop is a style that Wande Coal is an R&B Afro-pop artist. He had his first professional break as a dancer while participating in the teen choir of his church.

He was signed by Don Jazzy’s Mo’ Hits Records in 2006. His debut album, Mushin To Mo’Hits, garnered attention In the UK, Nigeria, and the United States.

His net worth is $1.7 million.

Frequently Asked Questions

Who does Forbes list as the richest musician in Nigeria?

Wizkid is, without doubt, the richest musician in Nigeria and the second richest musician in Africa, with a net worth of $21 million.

The award-winning singer and songwriter have done many collaborations with top global musicians such as Drake and Beyonce. Wizkid won his first ever Grammy Award with his collaboration with Beyonce’s The Lion: The Gift.

He has signed numerous endorsement deals with top companies like Guinness, MTN Nigeria, Glo, Pepsi, etc. He also owns his own record label: Star Boy Records.

In 2017 Wizkid signed his multi-album worldwide record deal with RCA Records.

Who is Nigeria’s greatest musician of all time?

Anikulapo Kuti, commonly known as Fela Kuti or just Fela, was a Nigerian multi-instrumentalist, musician, composer, and the father of the Afrobeat music genre.

He is regarded as the best Nigerian musician of all time. He was also a political outlaw and a human rights activist.

He reigned as the “Afro King” from October 15, 1938, until August 2, 1997. He was frequently praised during the height of his fame as one of Africa’s “challenging and charismatic music performers.”

Fela always advocated for peace among Africans and had a deep faith in his nation.

Who is the most popular singer in Nigeria?

On top of being the wealthiest Nigerian musician, Wizkid is also regarded as the most popular singer in the country.

The song “Halla at ur Boy,” which was released in 2010, was one of the songs that helped make him successful. Additionally, Wizkid is well-known and has won Grammy awards.

The Star Boy Record label owner has a huge following under his name on various social media platforms.

As the wealthiest and most well-known artist in Nigeria, Wizkid enjoys a king’s lifestyle with his mansions, fancy vehicles, and high-tech equipment both at home and abroad.

Wizkid Net Worth And Lifestyle 2022: RICHEST MUSICIAN IN NIGERIA!!

Conclusion

The impact of Nigerian music, both locally and internationally, continuously helps the music industry evolve. So much of the music we enjoy today is influenced by Nigerian artists in one way or another.

No wonder why the best Nigerian musicians have made incredible fortune for themselves.

Wizkid undoubtedly tops the list of both the richest and the most famous Nigerian musicians for the incredible talent he has. On the list with him are Davido, Don Jazzy, Burna Boy, and 2Baba, among others.

From hit singles to huge endorsement deals, Nigerian artists truly know their way to the top of the music scene.

Image by Gregory Akinlotan from Pixabay and Image by Kaufdex from Pixabay

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