Top 10 Richest Musicians In Nigeria (2022)

Who are the richest musicians in Nigeria and their net worths? The music industry is one of the industries in that people are making millions of Naira in Nigeria, Africa, and the world. They are part of the Nigerian billionaires in the Nigerian entertainment industry who are making waves in and out of the country.

Most of them are well known in the world of African music with lots of fans in many African countries. These musicians have gained recognition at home and abroad and have also featured and worked with top musicians abroad like Drake, Akon, Jayz, and many more.

They have won several awards and have also made millions of naira from endorsements signed with top companies like Samsung Electronics, Globacom, Airtel, MTN, 9mobile (now Etisalat), Ciroc, Pepsi, Infinix and many more.

They live a lavish lifestyle and we can confirm that they really deserve to be at the top with the multi-million mansion they live in and the expensive cars they drive. This wealth is confirmed as they flaunt it on their social media accounts.

Let us take a look at the Top Ten Richest Musicians In Nigeria;

Top 10 Richest Musicians In Nigeria

#1 WIZKID NET WORTH $30 million

Ayodeji Ibrahim Balogun popularly known for his stage name Wizkid is the richest musician in Nigeria according. Wizkid was born on the 16th Of July, 1990 in Surulere into a family of 13 children and he is the only son. His father practices Islam and his mother is a Pentecostal Christian.

Wizkid is a Nigerian singer, songwriter and stage performer, he is the founder and CEO of Starboy Entertainment record label and sign artists like Maleek Berry, Legendary beats, R2bees, and Mr Eazi. He attended Ijebu Ode grammar school for his secondary school.

Wizkid is a double dropout. He first dropped out of Lagos State University in 2009, then attend Leadcity but also dropped out after 2 sessions. Wizkid signed a recording deal with Empire Mates Entertainment (E.M.E) owned by Banky W in 2009 and released a hit track ‘Holla at your boy ‘which made him popular.

He released his debut album ‘Superstar’ in 2010 which earned him ‘Next rated Award’ in THE HEADIES winning a 2012 Hyundai Sonata. He has since then released hit tracks and albums. Wizkid is one of the top richest musicians in Nigeria and has various endorsement deals.

He made multi-millions from endorsement deals with the likes of   Pepsi, Guinness, Mtn, Glo. Wizkid charges ₦12 million per show. Wizkid owns a house in Lagos but the worth is not really known. In 2016 he bought a new mansion in Los Angeles, the house is said to be worth fifteen million dollars.

He likewise owns a fleet of cars. It was reported that he bought a 2018 Lamborghini Urus that cost him about $200,000. Other cars he owns are Bentley Continental GT Speed Convertible, Porsche Panamera, Porsche Cayenne and Mercedes-Benz.

Wizkid net worth is estimated to be $30 million.

#2 2FACE NET WORTH $22.5 million

Innocent Ujah Idibia popularly known as 2face or 2Baba is one of the richest musicians in Nigeria according to Forbes. 2face was born on the 18th Of September, 1975 in Jos, Nigeria where he attended Mount Saint Secondary school in Makurdi, Benue State.

2Baba hails from Benue State, Nigeria and he is the founder and CEO of Hypertek Music Entertainment. He is a singer, songwriter, stage performer, entertainer.

2face started his music career with Plantashun Boiz but the group went their separate ways in 2004. 2Baba prove his talent by releasing an album in 2004 ‘Face to Face’ that sold over 2 million copies which include the hit track ‘African queen’ and he continues to release hit songs since then.

2face is one of Nigeria music Legend and have won lots of awards home and abroad and also signed multi-million endorsements. He has made millions of Naira from endorsement contracts with GLO, Guinness Nigeria, NAFDAC, Campari, Airtel.

2face is happily married to Annie Idibia and have wonderful kids, even though 2Baba is fondly called Father of the Nation because of the number of kids he has with different women. 2face stays in a Mansion in Lekki among his other houses, he also owns a fleet of cars.

He charges about ₦3 million per show. He is estimated to be worth ₦3 million dollars.

#3 BURNA BOY NET WORTH $17 million

Damini Ogulu, often referred to as Burna Boy, is a renowned musician and songwriter. His 2012 hit “Like to Party” catapulted him to popularity. Burna Boy has had an extraordinary last three years.

In terms of music, the Atlantic Records musician has consistently outperformed his colleagues, even those on this list who came before him. Burna Boy has amassed millions of dollars from his music over the last three years, and he is presently the most-streamed Nigerian singer.

For the performer, those billions of dollars in song streaming are worth billions of naira. His estimated net worth is $17 million dollars.

#4 PAUL OKOYE NET WORTH $16 million

The twin brothers Peter Okoye and Paul Okoye is popularly known as Psquare is on the list of richest musicians in Nigeria at the number six spot. The twin brothers were born on the 18th Of November, 1981 in Jos, Nigeria.

They went to St. Murumba Secondary School in Jos where they began singing, dancing with their school music group. They both went to the University Of Abuja to study Business Administration. They are Nigerian musicians, songwriters, dancers, stage performers and have produced hit songs that trend and made them known both in the country and outside the country.

Psquare released their debut album in 2001 titled ‘Last nite’ sponsored by Benson and Hedges. They released their second album in 2005 under their own label ‘Square Records’ and since then they have been releasing hit songs and recognized home and abroad.

The twin brothers have won many awards and also have multi-million endorsements with Globacom and some others. The twin brothers have however split and so now have different net worths.

Currently, Paul Okoye who goes by the stage name Rudeboy is estimated to have a net worth of $16 million dollars.

#5 DBANJ NET WORTH $14 million

Oladapo Daniel Oyebanjo popularly known by his stage name Dbanj is also one of the richest Nigerian musicians on the Forbes list and the richest hip hop artist in Nigeria. Dbanj was born on the 9th Of June, 1980 in Zaria, Nigeria, he is the son of a military man and a church dignitary businesswoman.

Dbanj who is also known as Kokomaster is an entertainer, singer, songwriter and stage performer. Dbanj hails from Shagamu, Ogun State. He attended Nigeria military school before attending Nigeria Navy School Ibara, Ibara Abeokuta. He studied mechanical engineering at Lagos State University before moving to England.

Dbanj started to get popular with his debut album ‘No Long Thing’ in 2005 which he released under Mohit record and since then has released hit tracks and albums, he has also performed at top events in Nigeria and outside.

Dbanj made a huge fortune from endorsement deals like Power Fist, Bank Of Industry, Globacom, Heritage Bank, Beats by Dre, Ciric, and SLOT. Dbanj charges about ₦6 million per show. Dbanj is estimated to have a net worth of $14 million dollars.

#6 PETER OKOYE NET WORTH $12 Million

Peter Okoye who is also known as Mr P is also one of the top 10 richest Nigerian artists. He is the twin brother to Paul Okoye who was known before as P Square. He’s had a number of hits and has contracts with Olympic Milk, Glo and Empire Records. His estimated net worth is $12 million dollars.

#7 OLAMIDE NET WORTH $10.5 Million

Olamide Adedeji popularly known by his stage name Baddo is the seventh musician on the list of richest Nigerian musicians according to Forbes. Baddo was born on the 15th Of March, 1989 in Bariga where he attended primary and secondary school before going to study Mass Communication at Tai Solarin University Of Education but dropped out.

Olamide is a Nigerian singer, songwriter, rapper, and he is the founder and CEO of one of the most popular record labels in Nigeria YBNL Nation that produced stars like Adekunle Gold, Lil Kesh, Chinko Ekun.

Olamide started to get popular with his hit track “Eni Duro” in 2011 and produced his debut album ‘Rapsodi’ in 2011 under ID Cabasa. Olamide has since remained on top of his game, releasing hit songs and releasing albums every year.

Olamide charges between 3 million and 5 million nairas per show. He is one of the richest and best rappers in Nigeria. Olamide has won lots of awards and has had multi-million endorsements. Olamide owns 3 houses in Lagos, one for his mother in Bariga, one for himself and another one in Lekki.

He also owns a fleet of expensive cars like the Mercedes Benz G-Class and Range Rover Sports. Olamide’s net worth is estimated to worth $10.5 million dollars.

#8 FLAVOUR NET WORTH $10.2 Million

Flavour, on the other hand, is a well-known African performer who has toured the continent. A performance or concert by the indigenous highlife singer might cost upwards of $100,000. His physical appearance, unique voice, and mastery of the guitar are all assets to his Afro High-life Style.

Flavour has a net worth of $10.2 million dollars.

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#9 PHYNO NET WORTH $10 Million

Chibuzor Nelson Azubuike popularly by his stage name Phyno is the ninth richest musician in Nigeria according to Forbes. Phyno was born on the 9th Of October, 1986 in Enugu State. He was born and brought up in Enugu State but he hails from Anambra State.

Phyno is a Nigerian rapper, songwriter, stage performer, producer, his rap music is mostly in the Igbo language and he’s a close friend to Olamide Badoo. Phyno released his debut album in 2014 ‘No Guts No Glory’ with hit songs like Man Of The Year, Ghost mode, Parcel, O set.

Phyno charges between ₦2.5 million to ₦3 million per show. Phyno has won many awards and also have millions worth of endorsement, Phyno is estimated to be worth $10 million dollars.

#10 DAVIDO NET WORTH $10 Million

David Adedeji Adeleke popularly known by his stage name Davido and also named himself OBO (Omo baba olowo) because his father is one of the billionaires in Nigeria is the tenth richest musician in Nigeria.

Davido was born on the 21st Of November, 1992 in Atlanta, the United States to Dr Deji Adeleke a Nigerian billionaire businessman and late Vero Adeleke, a formal University lecturer.

OBO is a Nigerian musician, songwriter, stage performer. He is the founder and CEO of DMW music (Davido Music Worldwide) with artists like Mayorkun, Dremo, Idowest, and Peruzzi.

Davido hails from Ede, Osun State. He attended the British International School in Lagos before going back to study Business Administration at Oakwood University United States. He dropped out of the university after 2 years when he was having low grades.

He graduated with a music degree from Babcock University in July 2015 after which his rich father paid Babcock University to erect a music department.

Davido started his career professionally in 2011 when he released a hit track ‘Dami Duro’ and since then have released lots of hit tracks and albums.

The billionaire’s son is one of the top musicians in Nigeria and signed various endorsement deal. He signed an endorsement deal with MTN worth ₦30 million in 2012. He signed a recent deal with INFINIX MOBILE on the 9th Of May, 2018.

Davido charges ₦10 million per show. He also owns a luxurious four-bedroom duplex in Lekki, Lagos State reported to be worth about ₦140 million and also owns a vacation home in Atlanta, Georgia. He purchased a private Jet recently which makes him one of the private jet owners in Nigeria.

He likewise owns various expensive cars among which are Porsche Turbo, Range Rover Sport, Chevrolet Camaro GS, Bentley. He also bought a ₦45 million Porsche car for his girlfriend to celebrate her 23rd birthday gift.

Davido net worth is estimated to be $10 million dollars.