The music industry is no doubt among the highest paying and fast-growing careers in Nigeria, including sports, politics, and the film industry, this has prompted us to write about the richest musicians in Nigeria. It is an obvious fact that many Nigerian youths see music as a roadway to achieve their dreams. Quite a lot of successful artistes in Nigeria rose from rags to riches and are now enjoying great wealth as a result of years of hard work of doing what they love – singing.
Nigerians are famous not only in Africa but worldwide for their unique styles of showcasing the Nigerian culture and pattern of music. Recent awards won by the likes of Wizkid, Davido, and Burna Boy are testaments to that fact.
Ever wondered who the top 10 richest musicians in Nigeria are? Check out what these endowed and gifted artistes are worth.
In this post, we will start from the 10th richest musician and gradually countdown to the number one and richest musician in Nigeria.
Net Worth: $9.8 million
Chinedu Okoli, known popularly with his stage name Flavour N’abania or simply Flavour is a singer, songwriter and multi-instrumentalist. He began his musical career as a drummer for a local church. Flavour N’abania is known across Africa and the world for his hit song “Nwa Baby”.
Flavour has an estimate of $9.8 million in 2020. He has recorded about five studio albums and more than 13 awards out of 38 nominations with hit songs such as Nwa Baby(Ashawo), Oyi, and many more. He has received millions of views and streams on his digital platforms. His endorsements deals include signings with Bullet Energy Drink, Life Continental Beer, Nigerian Breweries, and more.
Net Worth: $10 million
P-Square were a duo of identical twin brothers Peter and Paul Okoye. They produced and released their albums through Square Records and in December 2011, they signed a record deal with Akon’s Konvict Muzik label. They were mentioned on Forbes top ten richest musicians in Nigeria 2020 with an estimated net worth of $10 million.
The duo performed R&B/Hip-hop and they reinvented not just hip-hop music in Nigeria, but the entire music entertainment sector. The fame they’ve got happily flows along with money running into their pockets. They bought a multi-million mansion at Lekki, cars, signed multiple endorsement deals and won series of musical awards ranging from MOBO Awards, KORA Awards, the Headies, etc. Unfortunately, they separated and went solo, which slightly affected their ranking on the rich-list which paved the way for artistes like Wizkid, Davido, 2Face to assume their positions.
Net Worth:10.5 million
Inetimi Timaya Odon, popularly known by his stage name “Timaya”, is a singer, songwriter and entertainer born on 15th August 1977. He is the founder of DM Records Limited. His solo career began in 2005 with the release of “Dem Mama”, which also featured on his debut album, True Story the following year. In 2012, Timaya released Upgrade, which spawned hits such as “Bum Bum”, “Sexy Ladies”, and “Malonogede”. His unique style of work has earned him quite a lot of notable awards and nominations, including Headies Awards, AFRIMMA awards, Nigeria Music Awards, and NEA Awards.
Timaya’s estimated net worth is $10.5 million. His main source of income is through music. He has received millions of views on his digital music streaming platforms and social media platforms.
Net Worth: $11 million
Phyno Fyno, as he is popularly called, is an Igbo rapper, singer, songwriter, and record producer whose real name is Chibuzor Nelson Azubuike. Phyno is an endowed and talented artiste with an estimated net worth of $11 million. He started his music career in 2003 as a music producer and is renowned for rapping in the Igbo language. His debut studio album “No Guts No Glory” was released in 2014. His distinctive and style of music has him some earned awards, including The Headies, Nigeria Entertainment Awards, City People Entertainment Awards and more. Phyno Fyno also featured in movies such as Lionheart and Hex.
Net Worth: $12 million
Olamide Adedeji, known professionally as Olamide (also popularly called Baddo or Baddo_Sneh), is a hip hop recording artist, he was born on 15th March 1989. He records mostly in Yoruba, his native tongue. In 2011 he released his debut studio album “Rapsodi” while signed to Coded Tunes. Olamide’s second studio album YBNL was released in November 2012. It is estimated that Olamide is worth over $12 million. He has signed major endorsement deals with various brands such as Hennessy, Globacom, Etisalat, Ciroc Ultra-Premium Vodka, Sterling Bank, and Goldberg Lager beer. Olamide revealed to the public on 18th February 2020 that his record label, YBNL Nation, has signed a Joint Venture deal with an international distribution company, Empire.
Net Worth: $16 million
2Baba is another gifted and popular singer with two platinum records behind him is estimated by Forbes to be worth $16 million. He is a singer, songwriter, entrepreneur, philanthropist, humanitarian, and activist. Prior to July 2014, he went by the stage name 2Face Idibia. Tuface was born on 18th September 1975 in Jos. As a solo artist, he has toured Europe, America and has sold out shows, which is very impressive. He has had endorsements deals from companies such as Guinness, Airtel, NB Plc, and lots more.
4. Burna Boy
Net Worth: $17 million
Damini Ebunoluwa Ogulu Rex professionally known as Burna Boy, Burna Boy was born on 2nd July 1991, he is a singer and songwriter that rose to stardom in 2012 after releasing “Like to Party”, the lead single from his debut album L.I.F.E. Burna Boy serves to inspire listeners to feel the music rather than merely listen to it. In 2017, Burna Boy signed with music label “Bad Habit/Atlantic Records” in the United States and Warner Music Group internationally.
Burna Boy has numerous endorsement deals featuring STAR beer, which worths millions of Naira, CNN, Pepsi Cola, Martell, and more. Burna is estimated by Forbes to worth $17 million, although he says he worth more than that.
3. Don Jazzy
Net Worth: $18.5 million
Michael Collins Ajereh, better known as Don Jazzy or Don Baba J, is a record producer, singer, songwriter, entrepreneur and philanthropist. He is the founder of the top music record label, Mavin in 2012 and co-founded defunct Mo’ Hits in 2004. Don Jazzy is estimated to be worth about $18.5 million. He is also a successful businessman, aside from being a record manager and producer. He has won several awards, including “Nigerian Music Awards, The Headies, City People Entertainment Award among others.
Don Jazzy also runs Flobyt, a popular tech firm providing free Wi-Fi service to users for downloading media content. No doubt that Don Jazzy is one of the richest musicians in Nigeria, his endorsements include deals with Samsung Mobile, Loya Milk, and more.
Net Worth: $19 million
David Adedeji Adeleke (born on 21st November 1992), professionally known as Davido, is a singer, songwriter, and record producer. David made his music debut as a member of the music group KB International. He is currently worth about $19 million and is known as one of the richest musicians in Nigeria. His smash hit “Fall” broke the record in 2017 as the longest-charting Nigerian pop in Billboards history. He has a channel on Youtube that pulls over 10 million views. His musical career is his primary source of income but he has additional sources of income.
He has won a huge number of awards, including MTV Europe Music Awards for Best African Act, The Headies Award for Artiste of the Year, BET Award for Best International Act, and more. Davido has recorded massive endorsement deals with companies like Guinness Nigeria, MTN, Infinix, among others.
Net Worth: $20 million
Ayodeji Ibrahim Balogun (born 16th July 1990), popularly known as Wizkid (often referred to as Starboy), is the richest musician in Nigeria. He is a singer and songwriter. Wizkid embarked on his musical career as young as age 11 and managed to release a collaborative album with the Glorious Five, a group he and a couple of friends at church formed. In 2009, Wizkid signed a record deal with Empire Mates Entertainment (E.M.E). Afterward, he rose to prominence when he released “Holla at Your Boy”, the lead single of his debut studio album Superstar in 2011.
According to numerous financial reports, Wizkid is worth over $20 million. The singer gets a stable income from reputable monetization platforms such as Spinlet, iTunes, and YouTube. Starboy has bagged major endorsement with Huge Companies including Pepsi, UBA, Ciroc Ultra-Premium Vodka, Nike and lots more.
Wizkid is the richest Nigerian musician. To attain this feat isn’t easy, and mind you, the fact that some other musicians are not listed here doesn’t mean that they don’t perform well in their career. All Nigerian artists both upcoming and well known are very hardworking, this is the reason why they are the top choice in Africa.
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