Top 10 Richest Musicians in Nigeria (2023)

Nigeria has many incredibly talented musicians. Some of these singers have achieved global success, while others are mainly popular within the country. However, they all have one thing in common: they are all very rich.

Have you ever wondered who the richest singer in Nigeria is? Wealth is often seen as a measure of success. In today’s celebrity-focused culture, many fans are fascinated by the wealth of their favorite celebrities. Nigeria is a diverse country, and this diversity is reflected in its music.

Nigeria has produced a wide range of musical talents, including traditional Fuji, Afrobeat, and modern hip-hop. Therefore, it’s not surprising that one of the most famous musicians in Nigeria is also one of the richest singers in the country. Curious to find out who it is? Keep reading.

See Also: Top 10 Richest Politician In Nigeria

Top 10 Richest Musicians in Nigeria and Their Net Worth

Below are the leading Richest Musicians in the country.

1. WizKid — $40 Million

In 2023, the wealthiest musician in Nigeria is WizKid, also known as Ayodeji Ibrahim Balogun. WizKid developed an interest in music from a young age and formed a musical group with five of his friends when he was just eleven.

In 2009, WizKid signed with Banky W’s EME label and started his music career. His debut song, “Holla at your boy,” gained him popularity in the industry. WizKid was born and raised in Surulere, Lagos, in a poor background.

He gained recognition through the record company Empire Mates Entertainment (E.M.E). WizKid is well-known both in Nigeria and internationally. He owns two properties, one in Los Angeles and another in the center of Lagos.

According to reports, WizKid possesses a collection of vehicles and properties in Nigeria and other countries. He earns over $40 million annually, which keeps him at the top of his profession, according to Forbes.

See also: Top 10 Most Populated State In Nigeria 

2. Davido — $38 Million

Moving on to the list of Richest musicians in nigeria, we have Davido, whose real name is David Adeleke. He is ranked as the second wealthiest musician in Nigeria. Davido comes from a well-off family, and it is widely known. However, he has managed to accumulate a significant amount of wealth through his music career. As a result, he never misses an opportunity to display his riches.

Davido is of African-American descent and was raised in Atlanta, Georgia. Before relocating to Nigeria, he pursued a business administration degree at Oakwood University. It was during his time at Oakwood University that Davido first developed an interest in music.

After experiencing academic struggles, he decided to move to London. Davido’s successful career has earned him numerous accolades. He owns a mansion in Georgia, USA, as well as two mansions in Lagos, Nigeria. Additionally, the musician possesses an impressive collection of luxury cars. According to Forbes, his current net worth is estimated at $38 million. To learn more, you can explore Davido’s biography and net worth.

3. Don Jazzy — $35 Million

According to our rankings, Don Jazzy holds the position of the third richest musician in Nigeria. Don Jazzy, whose full name is Michael Collins Ajereh, was born on November 26, 1982, in Abia state. He is the founder of Mavin Records and is involved in various roles such as being a brand influencer, entrepreneur, performer, and music producer.

Many of our beloved musicians in the industry have greatly benefited from Don Jazzy’s efforts in nurturing their talent. He serves as a brand ambassador for multiple companies and has received numerous accolades.

Don Jazzy owns three mansions: two located in Lagos (Lekki), and one each in Banana Island and Los Angeles. The music producer has an exquisite taste in luxury vehicles. With a net worth of $35 million, he is recognized as the richest music producer in Nigeria and the entire continent of Africa, according to Forbes.

See also: The 20 Most Beautiful City In Africa

4. Burna Boy — $20 Million

Burna Boy is a highly successful music artist in Nigeria and earns a substantial income. He was born on July 2, 1991, in Port Harcourt, Rivers State. As an artist signed with Atlantic Records, Burna Boy has surpassed his fellow musicians in terms of musical achievements over the past three years. Currently, he is one of the most popular Nigerian artists, attracting a large audience.

His music has generated millions of dollars, thanks to the billions of streams it has received. Burna Boy also secures lucrative brand endorsements from companies like Star, Pepsi, Standard Chartered Bank, and others.

5. 2Baba — $17 Million

2Baba, a well-known artist, possesses exceptional performance skills, honed over a span of more than 20 years. Apart from his successful music career, 2Baba has accumulated considerable wealth as a top-tier performer in the Nigerian music industry. Unlike many artists who tend to lead lavish lifestyles, 2Baba demonstrates a competitive investing mindset.

He co-owns various properties in Nigeria and is associated with the popular Rumours Night clubs located in Lagos. Additionally, 2Baba serves as a brand ambassador for esteemed companies such as Campari, Trophy Lager Beer, Araimo, and others. The value of 2Baba’s music collection is estimated to be in the millions of dollars.

6. Olamide — $15 Million

Olamide, born on March 15th, 1989, is the leader of YBNL, one of the largest record labels in Nigeria. He is a Nigerian rapper, singer, and music producer. With his exceptional skills, Olamide flawlessly showcases his musical talents in both Yoruba and English, specifically in the genres of Nigerian hip-hop and rap.

Olamide is widely recognized as a prominent singer, both within Nigeria and internationally. He has made significant progress in his career, boasting an extensive collection of songs, numerous accolades, and multiple award nominations. With an estimated net worth of $15 million, Olamide stands among the wealthiest and richest musicians in Nigeria.

7. Phyno — $14 Million

Phyno, whose real name is Chibuzor Nelson Azubuike, is a Nigerian record producer, songwriter, rapper, and performer. He is renowned for his skilled Igbo rap style. According to Forbes, Phyno’s estimated net worth is $12 million, positioning him among the wealthiest entertainers.

He possesses two homes, one in Lagos and another on Chevron Drive in Enugu State. Additionally, Phyno owns a diverse collection of vehicles, which includes a Toyota Avalon, a Lamborghini, a Bentley, a Range Rover, and a Rolls Royce Phantom.

8. Tiwa Savage — $13 Million

Tiwa Savage holds the distinction of being the sole female artist on our list of the top 10 wealthiest musicians in Nigeria. Tiwatope Savage, a Nigerian actress, singer, and composer, hails from Isale Eko in Lagos State. She was born on February 5th, 1980.

In November 2018, Savage made history by winning the Best African Act category at the MTV Europe Music Awards. This achievement marked her as the first female artist to secure this honour. According to Forbes, Tiwa Savage’s net worth is estimated at $13 million, making her the richest female musician in Nigeria.

9. Psquare — $13 Million

Psquare consists of twin brothers Peter and Paul Okoye, who form a highly accomplished and renowned singing duo. Widely recognized as Nigerian artists Psquare, they have attained remarkable success, immense popularity, and remarkable talent. Their abilities encompass exceptional singing and dancing skills.

Psquare’s musical repertoire encompasses various genres such as Afropop, R&B, hip-hop, and dance-pop. Their passion for music traces back to their time in secondary school. In addition to their music career, Psquare also established a real estate investment brand, which they fully dedicate their time to. Each brother has an estimated net worth of $13 million, positioning them among the wealthiest and richest musicians in Nigeria.

10. Dbanj — $11 Million

Dbanj is undoubtedly one of the richest musicians in Nigeria. He holds a prominent position as one of the world’s most popular and accomplished vocalists. Dbanj’s vocal performances have earned him numerous accolades, including the prestigious MTV Europe Music Award.

He is widely recognized as one of the greatest and most renowned recording artists of all time. By 2023, Dbanj’s net worth is expected to reach $11 million. Additionally, he possesses an impressive assortment of luxurious vehicles and residences.

Conclusion

The singers listed below are among the most famous and affluent ones currently active in Nigeria. While there were other names considered, the ones mentioned here are widely recognized and popular.

If you have a passion for singing and aspire to be like these artists, let their success inspire you. Keep working hard towards your goals and follow your calling with dedication!