Top 10 Richest Musicians In Nigeria (2023)

The Nigerian music industry has produced tons of celebrities with numerous fans and supporters all over the country. These guys have been utilizing their singing talents to enrich themselves showing how wealthy the richest musicians in Nigeria are currently and many of them can afford to live an exotic and expensive lifestyle, traveling with private jets, driving luxurious cars, etc.

While there are several Nigerian musicians doing well for themselves, in this article, we will explore the top ten richest in the music industry. Let’s get started. 

Top 10 Richest Musicians In Nigeria

1. Wizkid 

Wizkid is regarded as the richest musician in Nigeria as things stand now, with an estimated net worth of 20 million U.S dollars. He has a lot of supporters in different parts of the country and is one of the most followed celebrities on social media too.

Aside from what he earns from singing, Ayodeji Ibrahim Balogun is also paid a lot for endorsement deals. He has worked with the likes of MTN Nigeria, GLO, Pepsi, and United Bank for Africa (UBA)

2. Davido 

Born David Adeleke, Davido is another rich musician in the country. He is said to be worth around 19 million US dollars. Of course, he was born into a rich family in the first place (which is what many are already aware of). His father, Dr. Adedeji Adeleke, is the CEO of Pacific Holdings Limited.

He also earns a lot from endorsement projects. He has endorsed large organizations like MTN. David has released tons of singles since he started singing.

3. Don Jazzy

Born Collins Michael Ajereh, Don Jazzy is the third guy on the list. He is from Umuahia in the Southeastern part of Nigeria. Nevertheless, he has been in the Southwestern part of the country for a long time and was able to thrive from the region, as a music producer, musician, and entrepreneur.

He is said to be worth around 18 million US dollars, as he earns money from different channels. Aside from what he earns from the music industry, Don Jazzy can also boast about his lucrative contracts with companies like MTN and Loya Milk.

4. Burna Boy 

Born Damini Ebunoluwa Ogulu, Burna Boy is another rich guy in the Nigerian music industry, with a net worth that is said to be around 17 million US dollars.

He is a musician, songwriter, rapper, and dancer. He is known to be one of the country’s hottest international music export, and he is also a brand ambassador to Globacom and Mortell Cognac.

5. 2Baba (2Face) 

Born Innocent Ujah Idibia on the 18th of September 1975, 2Face is the fifth guy on the list, with a net worth of $16 million. He is regarded as one of the best Afropop musicians, not only in Nigeria but in Africa.

He is regarded as a prominent figure in the Nigerian music industry and has acquired quite a good amount of luxury, although he enjoys keeping his things private.

6. Olamide

Olamide Adedeji was born on March 15th, 1989, and has worked hard to become one of the popular musicians in the Nigerian music industry, as well as one of the richest. He is said to be worth around $12 million, making him one of those occupying the list.

Despite singing mainly with the Yoruba language, he still has tons of fans and supporters in the country, particularly in Lagos State. The musician has bagged so many awards in the Nigerian music industry, and he has several cars and properties too.

7. Phyno

Born Chibuzo Nelson Azubuike, Phyno is one of the musicians from the southeastern part of the country to break into the scene in the music industry where major attention abides in the Southwest. Reports stated that he is worth around $12 million – making him one of the richest musicians in Nigeria.

Obviously talented, Phyno, who is from Anambra State, was raised in Enugu State (still in the southeastern part of Nigeria). It was made known that he wanted to be a pilot or a doctor, but he started his career in music in 2003.

8. Timaya 

Born Initime Alfred Odom on the 15th of August, 1980, Timaya is also a rich musician in Nigeria. The guy is said to be worth around $12 million, hence, sitting on this list.

He started his career from the lower ranks but has now become a prominent musician in the Nigerian music industry. He owns several luxurious properties too.

9. Peter Okoye and Paul Okoye

While the duo is no longer together (as a music group), we still place them in the same category here. Both were born in November 1981, and they worked together to build their music career. Nevertheless, they are no longer together, but still prominent in the Nigerian music industry.

While Paul is now known as Rudeboy, Peter is also famously called Mr. P. Since they have built a lot as P Square, they are still enjoying some dividends from the partnership, and are still very rich Musicians in Nigeria.

10. Flavour

Finally on the list is Chinedu Okoli, who is famously known as Flavour. He was born on the 23rd of November 1983 and has grown to become one of the richest musicians in Nigeria, said to be worth around $12 million.

Flavour started music at a very young age, from the Church. Nevertheless, he moved into other things as he was growing, and he chose to explore the music industry with his talents.

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In conclusion, while there are several other musicians in the industry doing very fine in terms of wealth, not all of them can emerge on such a list as this, as some are richer than others. Nevertheless, as you should have noted, many of those on this list have been able to open other lucrative channels paying them well, by utilizing the fame that has been attached to their names from the music industry. One of such is by being ambassadors to big companies that pay celebrities a lot of money just to represent and endorse their products and services in the Nigerian market