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Richest Musicians In Nigeria 2023 (Top 20 list)


Jan 29, 2024
Richest Musicians In Nigeria
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Richest musicians in Nigeria: Fans of Music singer are always interested in knowing richest Musicians in Nigeria their net worths and the ranking position of their favorite stars and how they manage to stack up in the list. Contrary to the popular opinion, top stars may not necessarily be on top of the worth list. this leave many Nigerian music lovers and fans of the various music stars searching the internet trying to know the position of their favorite.

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richest musicians  in Nigeria

Nigeria is known to many as the land of Afro-pop, and this is because the country is home to many Afro-pop artists. These artists have managed to rake in enormous amounts of money from their profession, and they are worth being lauded for their contribution to the entertainment industry in Africa and beyond. Here are details about the net worth of the richest Nigerian musicians.

Richest Musicians In Nigeria 2023

On this list, we are going to give you an answer to your questions which are Who are the top richest musicians in Nigeria 2023? And many others related questions that land you on our page

Top 20 richest musicians (Artistes) in Nigeria and their net worth 2023

Davido Net Worth $45 million Dollars

Here comes the current richest musician in Nigeria, and that is Davido. His real name is David Adeleke, born in Atlanta, United State of America to a rich family. His father, Dr. Deji Adeleke is a co-founder of the Adeleke University in Osun state, and the CEO of Pacific Holdings Limited.

Top 20 richest musicians in Nigeria their net worth 2023

Davido is undoubtedly the richest musician in Nigeria today. He took the music industry by storm producing interesting songs. The song that brought him to great popularity is “Omo baba Olowo”; as it went viral especially in Africa. He has won series of awards such as the Mobo award, and also emerging the best African Act for the year, beating a field of artists, including Wizkid to get the price.

He is often called OBO, but in 2018 he is known with the popular slang “30 Billion”. Davido recently concluded a 30 billion concert show in which saw the likes of other popular artiste and celebrities in attendance.

Let’s not forgot that Davido is the son of one of the wealthiest men in Nigeria, Deji Adeleke. He also owns his own record label which is worth billions of Naira. He is presently signed with world music giants SONY records, known to sign best musicians in the Nigerian music industry like Tiwa Savage, Tekno and Wizkid.

Davido is a rich celebrity who has mansions, cars and series of investments due to his background. He is also a director in his father’s company. As for his shows, he charges over 10 million per show. You hardly see him feature on adverts, so we can’t say if he has any endorsement deals. Davido’s net worth stands at an estimated $45 million dollar.

Davido recently bought a private jet which cost him N9.7billion. He also bought a N45 million car for his current girl friend, Chioma. Davido got an edorsement from infinix worthy over N350 million while Chioma got hers for N150 million too, he recently added another Rolls Royce worth N240 million naira and Ferrari Worth N300 million to his garage.

Richest Musicians In Nigeria.

Most Fans would ask, who is richer between Davido and Wizkid? or does Starboy has more money than Davido? You should know that both are wealthy but Davido richer than Wizkid in terms of cash.

Wizkid Net Worth $38 million

Wizkid is the second richest artiste in Nigeria this year. Wizkid’s real name is Ayodeji Ibrahim Balogun was recently ranked by Forbes among the richest celebrities in Africa in 2020.

Wizkid is the founder and CEO of Starboy music record label. He is an award-winning act who is recognized not only in Nigeria but internationally. His hit songs continue to top the musical billboard chart and have recorded financial success in the musical industry.

Richest Musicians In Nigeria

Some of the endorsement deals which Wizkid signed that worth millions of Naira and helped him rack up enough wealth are: Being an ambassador for Pepsi, Globacom (top telecom company in Nigeria), MTN deal worth N40 million, and his recent endorsement deal with UBA bank that worth N3 billion Naira.

Wizkid has cars, mansions in various countries plus other investment, businesses and assets. He charges over 10 million Naira per show and has an estimated net worth of $38 million dollars

Top 20 richest musicians (Artistes) in Nigeria and their net worth 2023

Don Jazzy Net Worth $35 million

Don Jazzy, is Nigeria’s wealthiest record producer and CEO of Mavin Records. He co-founded Mo’ Hits Records in 2004 which saw the likes of super stars D’Banj, Wande coal etc excel under him. Under his new record label, he has produced a lot of songs and also talents in the Nigerian music industry. Among which the likes of Tiwa savage, Korede Bello, Reekado Banks e.t.c have prospered under him.

Don Jazzy real name is Michael Collins Ajereh. He is reported to charge about N500,000 or more to produce a song which explains how he makes his money. He has signed various endorsement deals that worth millions of Naira.

Don Jazzy has 3 mansion, one at Lekki, one in Banana Island, Lagos and another at Los Angeles, USA. He also rides exotic cars inluding:Porsche 911 Carrera (~₦42 million) Bentley Continental (~₦25 million) Cadillac Escalade (~₦27.2 million) Mercedes Benz E350 (~₦20 million)

Don Jazzy is not yet married as of writing this post and his estimated financial worth is estimated at $35 million in dollars.

Top 20 richest musicians (Artistes) in Nigeria and their net worth 2023

D’banj Net Worth $13.5 million

The Nigerian hit songs by D’banj always come out spectacular; a musician with a controversial fan base as his will surely survive in the business. His real name is Daniel Oyebanjo Oladapo, born in Zaria on the 9th of June, 1980. D’Banj is known to be very keen to business opportunity even when it looks as if his performance both on stage and in releasing songs is reducing.

He is another richest Nigerian musician who has made wealth from his musical career and other investments. He has also signed top endorsement deals which have fetched him money in recent years.

He was formerly a co-founder of MO’ Hits record label with Don Jazzy before their split up. As a singer-songwriter, entrepreneur and television personality, Dapo has evolved into an international act. He is valued at $27.5 million dollar recently which makes him one of the richest musician in Nigeria.

 2Face Idibia Net Worth $13 million

One of the best male singers in the country at the moment is 2face whose real name is Innocent Ujah Idibia. He was part of the defunct plantashun boiz and had been the richest musician in Nigeria and Africa for so many years before the likes of youngest artiste Davido and Wizkid ursuped his position.

The music legend has produced hit tracks which has sold internationally and has topped the charts. African Queen still remains his best song so far as it is still in vogue since its release. 2baba is married to Annie Idibia and has other women outside wedlock who have children for him.

Apart from being a singer-songwriter, record producer, investment wise, he is an entrepreneur. He also has endorsement deals with top organizations in the country which runs in millions. It is rumored that 2Baba charges about 2.5 million naira per show. His worth is said to at an estimated sum of $22 million which makes him one of the top ten richest musicians in Nigeria.

Olamide Net Worth $10.5 million

Olamide Adedeji known by his stage name Badhoo or Olamide is another wealthy Nigerian male rapper and musician and the founder and CEO of popular music record label in Nigeria – YBNL Nation. As of this post, he is known to be the richest Nigerian rapper.

Apart from making money through his music which have he sold over 40 million copies worldwide. He makes most of his cash from his collaborations with other musicians and his record label signees and event organization. Olamide is also a brand ambassador and a businessman who has invested heavily in Lagos state.

Olamide signed an endorsement deal with Ciroc worth N30Million. Other deals that he signed include being a brand ambassadors for Guinness worth N80Million, Etisalat deal worth around N50Million which has since being renewed with an additional N30 million Naira.

It is said that Olamide net worth in dollars in $6 million as of 2017 but his current financial status shows that he is more than that figure. Apart from the two filling stations and landed properties he has around the country, Olamide charges between N2 million to N4 million per show. Olamide Net Worth is currently estimated to be $10.5 million dollars

Top 20 richest musicians (Artistes) in Nigeria and their net worth 2023

Mr. Flavour Net Worth $10.2 million

Chinedu Okoli better known by his stage name Flavour N’abania is a Nigerian male singer, songwriter, multi-instrumentalist and performer.He started his musical career as a drummer for a local church in Enugu State. He also is a popular musician in Nigeria.

The singer is valued at an estimated net worth of $10.2 million dollar. He has many investments in the south eastern part of Nigeria.

Flavour is not yet married but has children by different women, who are regarded as his baby mama’s. This richest musician in the country is also a model due to his physique.

Phyno Net Worth $10 million.

The seventh richest Nigerian musician in the country is no other person than Phyno. His real name is Azubuike Nelson Chibuzor. He is the current second best rapper in the country who raps and sings in Igbo and English language fluently.

Apart from winning series of awards, Phyno has made a name for himself in the music industry as a top artiste and celebrity. He is built a brand for himself through his songs which sets him apart from other rappers. Phyno rich life style can be seen in his assets and financial worth.

Just like Olamide, Phyno also invested his wealth into fashion, real estate, etc. It is said that the duo can’t be matched in what they do as they have taken the entertainment market by storm by the way they perform on stage. Phyno charges about N2 to 3 million Naira for shows and his net worth is estimated to be $10 million dollar.

P-Square Net Worth $10 million.

P-Square are still ranked one of the richest musicians in the country this 2020 even if they split. For those who don’t know about them, here is a brief profile on Nigeria’s most celebrated twins who took the Nigerian music industry to another level since their emergence.

Peter Okoye and Paul Okoye are twin brothers who sang and danced together from the onset before Paul decided to stop dancing and concentrate more on singing. Peter on the other hand choose to do both. They produced and released their albums through Square Records which was managed by their elder brother, Jude Engees.

Richest Musicians in Nigeria

It was until recently that they both split after some internal family issues and divided their properties among themselves which led to the dissolution of P-square to the abasement of their fans.

While they were together, they signed a record deal with Akon’s Konvict Muzik label.

It was said that P-Square charges a whopping N8 Million Naira per show. There was once a time they were first on the list. They made real cash and won series of awards. Forbes ranked them among the ten richest musician in a in 2014, 2015, and 2016 as the richest twins in Africa.

Apart from singing and dancing at shows, they have other investments which are not made public. It is rumored that both brothers have about 7 cars between them, mansions and even landed properties around the country and were worth about $40 million when they were together which made these richest Nigerian musicians plus other endorsements benefits.

 Banky W Net Worth $9 Million Dollar.

Banky W whose original name is Olubankole Wellington is a top African musician and also a great actor. He was born in the United States of America, but returned with his parents as a child to their homeland, Nigeria where he had his basic school. Banks W decided to move back to America; to have his higher education to return afterwards.

He came back to Nigeria and began singing in the year 2002 when he was about 21 years of age (born on the 27th of March, 1981). Banky W owned the popular Empire Mates Entertainment (E.M.E) record label which was dissolved and converted to a branding and advertising company; Banky succeeded in releasing five albums.

He had featured in so many interesting songs and the popular ‘Wedding Party’ movie, and has also exhibited a strong leadership will in the 2019 Nigerian political elections where he ran for House of Representatives. Olubankole Wellington is married to Adesua Utomi, the pretty Nollywood actress and they own a mansion along Admiralty way in Lekki phase 1, Lagos.

He has bagged a lot of awards in the R&B music category since 2006. This star has not only conquered the music industry but has also battled with health and survived when he dealt with a skin cancer operation in 2017.

Although being one of the richest musicians in Nigeria, Banky W. does not show off so much about his personal belongings. He has once spotted driving his 2008 Range Rover Sport (₦90 million) and a Toyota Prado (₦37 million) another time. People expected he would drive fancier cars like many other celebrities but he felt “what good is owning a Rolls Royce, if I’m still paying rent on the house I park it in?”

Timaya Net Worth $8.5 million dollar.

His names are Inetimi Alfred Odon is called by his stage name, Timaya. He is a Nigerian singer and songwriter and owns a record label called the South South hip hop group, Dem Mama Soldiers.

The plantain boy best known as Timaya, This star was born on the 15th of August, 1980 and started a music group called ‘Dem Mama Soldiers’ which is what he used as a platform to set off on his musical career. Timaya, also known by some people as King of Dancehall in Nigeria due to his kind of good music.

His music career saw the release of his first song professionally in 2005, titled “True Story” after which subsequent ones surfaced like “Gift and Grace” released in 2008 as well as De Rebirth. He now owns the DM record label which he signed King Perry to after the likes of Patoranking and Runtown had been groomed to shine.

His second album Gift and Grace was released in 2008 which sold about 10 million copies in Africa.We know that he should have investments even though its not listed as his net worth . he net worthis estimated to be $8.5 million dollars. In terms of music alone, Only Wizkid and Tuface are richer musicians than Timaya.

M.I Abaga Net Worth $8 Million.

Jude Abaga, better known as M.I Abaga, is a Nigerian rapper, songwriter and record producer. He was CEO of Chocolate City from June 2015 to 2019

M.I appear as number 4 on the list of the richest Africa rappers, he has estimated net worth of $8 million dollar. M.I has really be successful in his music career.

Patoranking Net Worth: $6.5 million.

Patoranking was born 27 May 1990 in Ilaje Ebuta-Metta in Lagos, Nigeria. Patoranking originated from Onicha, Ebonyi State. He was the eldest of 5 children. His upbringing was very different from the lifestyle he lives today “me, my Mom, Dad and siblings all shared one room,” he recalled, however, he has fond memories of his childhood stating: “Ebuta-Metta is my heart, no matter how hard it was we were still grateful for each day.”

Patoranking was well known in Ebuta-Metta for two things: one was music; the other was selling products locally with his Dad, which he started at the age of 13, anything from calendars to rat poison. However, by 17 with bigger ambitions, he decided to move to Ghana in search of a better life for him and his family. “My friends and I always used to talk about making it and wanting more,” he recalls.

Richest Musicians In Nigeria

However, his big break came when when he was signed into Dem MAMA Records owned by award-winning artist Timaya, On 12 September 2013, Patoranking released the audio and video for “Alubarika” simultaneously. Timaya who featured on his song “Alubarika,” meaning God’s blessings, and who let Patoranking stay with him at his house. “Alubarika” was a great success and Patroanking says: “God really did bless me as that was the turning point for me and my family.” He noted. The music video for “Alubarika” was shot by AJE Films and ran for 4 minutes and 16 seconds.

His success with the song gave him the determination to do better and he went ahead to sign a record deal with Foston Musik in 2014 after his affiliation with Dem Mama Records came to an end. Patoranking released “Girlie O” as his first song with Foston Mizik in February 2014 patoranking is among the richest artist in Nigeria with an estimated net worth of $6.5 million Dollar.

14 Kcee Net Worth: $4.5 MILLION Dollar.

Kingsley Chinweike Okonkwo Best Known as Kcee was born on the 18th of April 1979, in Ajegunle, Lagos, Nigeria to Mr Okonkwo who was a disc jockey (DJ). He has his origin traced to Uli, Anambra State, but was born and raised in Lagos State. Kcee completed both his Primary and Secondary School Education in Lagos State, And obtained both his first school leaving certificate and West Africa Senior School Certificate All in Lagos.

 Falz Net Worth: $4.1 million dollar

Folarin Falana popularly known by his stage name as Falz or Falz the bahd guy, He was born on 27th October 1990 in Lagos State of Nigeria. And He is currently 30 years old. Falz has his origin traced to Ekiti State in Nigeria, but was born, brought up in Lagos, Nigeria. Falz is the son of popular Senior Advocate of Nigeria, Femi Falana SAN.

Falz completed both his primary and secondary school education and obtained both his First School Leaving Certificate and West African Senior School Certificate. After completing his secondary school education, Falz attended University of Lagos, where he obtained a degree in Law.

He began his music career way back in his secondary school days after forming a music group known as “The School Boys” where he developed his love and passion for music. Upon his graduation from the university, Falz never relent from his musical ambition. In 2009, Falz was shot into fame with the released of his popular hit single titled “Marry Me” featuring vocals from Poe and Yemi Alade. In 2015, Falz hit single “Marry Me” won him an award for Best Collaboration of the Year” at the Nigeria Entertainment Awards.

In 2015, Falz was also nominated for “Best Rap Act of the Year” and “Best New Act to Watch” at the Nigeria Entertainment Awards. Falz is a controversial artiste, he is very funny and can really be serious minded if he wants to. He always mixes his music with funny and humorous statement in his lyrics. Falz is currently one of the richest artist in 2020 with an estimated worth of $4.1 million dollar.

Duncan Mighty Net Worth: $4 million dollar

Duncan Wene Mighty Okechukwu, better known by his stage name as Duncan Mighty, is an award winning Nigerian musician, singer, song writer, stage performer, entertainer, recording artist and a music producer from Obio-Akpor, Rivers State, Nigeria. Duncan Mighty is a very creative and intelligent singer whose songs are mainly presented in pigin, English and his native Ikwerre language. He is the founder of JamBase Cable Tv station in Port Harcourt. Duncan Mighty also has a construction company where he has over three hundred staffs.

Duncan Mighty is currently one of the richest and the most influential artistes in the Nigerian Music Industry With an estimated net worth of $4 million dollar

 Burna Boy Net Worth: $20 million dollar

He was born on 2nd July 1991 in Port Harcourt, Rivers State, Nigeria. He was born to the family of Bosede and Samuel Ogulu. He is originally from Ahoada, a small town in Rivers State of Nigeria.

He is the only son of his parents and being the eldest of three siblings comprising of girls only. He came from a family who appreciated music but Cherish education. Burna Boy is currently 29 years old.

He began making music when he was just 10 years old and while at school a fellow classmate gave him a copy of the production software FruityLoops.

He is successful in his musical career, though came into limelight in 2012, he is currently one of the richest Musicians in the Nigerian Music industry with an estimated net worth of $20 million dollar.

Tekno Net Worth: $7 million dollar

Augustine Miles Kelechi, best known by his stage name as Tekno, was born December 7 1992 in Bauchi State, Nigeria. He was born into a family of six , five boys and one girl. Kelechi is from Ivo Local Government Area, Ebonyi State. He was raised in several parts of the country including Nassarawa, Kaduna and Abuja due to the fact that his father was a member of the Nigerian Army. At the age of 8, Tekno Miles was enrolled in a music school where he learned and mastered the rudiments of playing the piano and guitar.

Tekno Miles was first signed under K-Money Entertainment. His first single titled “Holiday”, was released under the imprint. With featured vocals from Davido, “Holiday” was positively accepted and gained massive airplay.

Richest Musicians In Nigeria.

In 2012, Tekno Miles was spotted by renowned Nigerian comedian Julius Agwu at an event in Abuja, after Tekno Miles received a standing ovation following the performance of a song titled “Onye Ne Kwu”, his remix of Ice Prince’s “Oleku”. It was at the same event he met Iyanya and Ubi Franklyn, the manager of Made Men Music Group and they became friends. Ubi and Iyanya eventually encouraged Tekno Miles to move to Lagos to further his music career

On October 5, 2013, he signed a recording contract with Made Men Music Group, under which he released singles like “Dance” and “Anything”. These singles won him a nomination in the “Best New act of the Year” category at the 2014 Nigeria Entertainment Awards. On June 18, 2015, Tekno Miles released his hit single titled “Duro”, which was produced by DJ Coublon. “Duro” was positively received both in Africa and in the US. A remix which featured Phyno and Flavour N’abania was released on November 16, 2015. It topped several charts in Nigeria and on the international scene, it peaked at number 5 on Capital XTRA’s Afrobeats Chart: Top 10 for September 2015. On November 20, 2015, Tekno Miles released a single titled “Wash”. The song was produced by DJ Coublon with the video directed by AJE Filmworks.

In 2016, Tekno released a song that made him a household name. This song was titled “Pana”. This song was an instant hit! It was a song about love with powerful visual and lyrics. This song got him a lot of nominations, like: TV Africa Award; Best West African Video; Best Afro Pop Video; African Video of the Year. In 2016, the fan base of Tekno miles started to grow up rapidly. Tekno’s dance technique led him to be referred to as the Nigerian Chris Brown. His popularity was increasing. His hits “Duro,” “Rara” and “Pana” helped him increase his fan base daily.

In June 2018, Tekno signed a distribution deal with Universal Music Group Nigeria (UMGN), a division of Universal Music Group in charge of West Africa, as well as the UK-based Island Records.

Tekno is currently one of the richest and the most influential artistes In Nigeria Music Industry with an estimated net worth of $2.1 million dollar

 Mr. Eazi Net Worth $5 Million dollar

Oluwatosin Ajibade who was born 19 July 1991, better known by his stage name Mr Eazi, is a Nigerian / Ghannian base singer, songwriter, and entrepreneur. He is the pioneer of Banku music, a fusion sound he describes as a mixture of Ghanaian highlife and Nigerian chord progressions and patterns.

So far, Mr Eazi is currently one of the richest and the most influential artistes in the Nigerian music Industry, He has an estimated Net Worth of $5 million dollars as of this post.

Kizz Daniel Net Worth $8 million dollar.

Kizz Daniel is a Nigerian fast rising music star, song writer, entertainer, show performer and a recording artist. Kizz Daniel is handsome, creative and super talented, he is currently signed into G-Worldwide Entertainment in 2013, a record label owned and managed by Nigerian Business tycoon Emperor Geezy, but left the label following a publicized contract dispute and court case. He founded the Fly Boy Inc record label in November 2017

Kizz Daniel is unique with his musical style which has earn him a lot of fame and so far he been nominated and has won so many awards.

Kizz Daniel might be a new artist but he is listed among the richest artistes in Nigeria, and he has estimated net worth of $1.5 million dollar.

Richest Musicians In Nigeria

Davido and Wizkid are currently the richest and most influential musicians in Nigeria, with join estimated net worth of $83 million dollars

Richest Musicians In Nigeria 2023:

In Summary the Richest Musicians In Nigeria are.

  1. Davido net worth $45 million dollars
  2. Wizkid net worth $38 million dollars
  3. Don Jazzy net worth $35 million dollars
  4. Burna Boy Net worth $17 million dollars
  5. RudeBoy Net worth $16 million dollars
  6. D’Banj net worth $13.5 million dollars
  7. 2face Idibia net worth $13 million dollars
  8. Peter P Square Net worth $12 million dollars
  10. Olamide Net worth $10.5 million dollars
  11. Mr. Flavor Net worth $10.2 million dollars
  12. Phyno Net worth $10 million dollars
  13. Banky W net worth $9 million dollars
  14. Timaya Net worth $8.5 million dollars
  15. M.I Abaga Net worth $8 million dollars
  16. Patoranking Net worth $6.5 million dollars
  17. Falz Net worth $4.1 million dollars
  18. Ducan Wene Mighty Net worth $4 million dollars
  19. Tekno net worth $6 million dollars
  20. Mr. Eazi Net worth $5 million dollars

Now you know who the top 20 richest musicians in Nigeria are. Before you go it might interest you to read lil Tjay Net Worth And Biography

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