14 Richest Musicians in Nigeria: Their Success Stories

Nigeria's music industry has grown into a multi-million-dollar sector, producing some of the most influential and financially successful musicians in Africa. Many Nigerian artists have built immense wealth through music sales, live performances, brand endorsements, business ventures, and international collaborations. In this article, we explore the richest musicians in Nigeria, their net worth, and what contributes to their massive earnings.

1. Davido – The Afrobeats Mogul

Net Worth: $70 million

Key Albums/Singles: Omo Baba Olowo, A Good Time, A Better Time

Sources of Wealth: Music sales, concerts, endorsements, and record label ownership

Davido, born David Adedeji Adeleke, is one of the richest musicians in Nigeria. He comes from a wealthy family, but his success in the music industry is self-made. Davido has released numerous chart-topping hits, sold out international tours, and signed multi-million-dollar endorsement deals with brands like MTN, Guinness Nigeria, and PUMA. His record label, Davido Music Worldwide (DMW), has nurtured top Nigerian artists, further increasing his revenue streams.

2. Wizkid – The Starboy Empire

Net Worth: $66.6 million

Key Albums/Singles: Superstar, Ayo, Made in Lagos

Sources of Wealth: Music sales, concerts, endorsements, and international collaborations

Wizkid, also known as Ayodeji Ibrahim Balogun, is one of the richest musicians in Nigeria, with a strong international presence. His collaboration with global icons like Drake, Beyoncé, and Justin Bieber has boosted his global recognition and earnings. Wizkid’s endorsement deals with Pepsi, MTN, and UBA Bank have contributed to his growing fortune. His Made in Lagos album was a global sensation, further cementing his status as a top-earning artist.

3. Burna Boy – The Grammy Award Winner

Net Worth: $65 million

Key Albums/Singles: L.I.F.E, African Giant, Twice as Tall

Sources of Wealth: Album sales, international performances, brand endorsements

Burna Boy, born Damini Ebunoluwa Ogulu, has become a global phenomenon in the Afrobeats genre. His Grammy-winning album Twice as Tall skyrocketed his fame and earnings. Burna Boy has performed in sold-out arenas across the world, securing massive performance fees. His partnerships with brands like Star Lager and Pepsi further add to his wealth, making him one of the richest musicians in Nigeria.

4. Don Jazzy – The Business-Savvy Producer

Net Worth: $55 million

Key Contributions: Founder of Mavin Records, producer for top Nigerian artists

Sources of Wealth: Music production, business ventures, and endorsements

Don Jazzy, born Michael Collins Ajereh, is a legendary music producer and entrepreneur. As the founder of Mavin Records, he has helped shape the careers of artists like Rema, Ayra Starr, and Tiwa Savage. His business acumen has made him one of the richest musicians in Nigeria, with multiple investments in technology and entertainment startups.

5. Olamide – The King of the Streets

Net Worth: $50 million

Key Albums/Singles: Rapsodi, YBNL, Lagos Nawa

Sources of Wealth: Music sales, concerts, record label ownership, endorsements

Olamide, also known as Baddo, is a major force in Nigeria’s rap scene. His YBNL Nation record label has produced top talents like Fireboy DML and Asake. With multiple albums and hit songs, Olamide continues to dominate the industry. His deals with brands like Glo and Ciroc have significantly increased his net worth, placing him among the richest musicians in Nigeria.

6. 2Baba (2Face Idibia) – The Evergreen Legend

Net Worth: $45 million

Key Albums/Singles: Face 2 Face, Grass 2 Grace, The Ascension

Sources of Wealth: Music sales, concerts, endorsements

2Baba, formerly known as 2Face Idibia, is a pioneer of contemporary Nigerian music. His evergreen hit African Queen remains a global classic. He has secured lucrative brand deals with Nigerian Breweries and other top companies, making him one of the richest musicians in Nigeria.

7. Tiwa Savage – The Queen of Afrobeats

Net Worth: $40 million

Key Albums/Singles: Once Upon a Time, R.E.D., Celia

Sources of Wealth: Music sales, performances, endorsements, and acting

Tiwa Savage is Nigeria’s most successful female musician. She has signed international deals with Roc Nation and Universal Music Group, leading to major financial success. Her endorsements with Pepsi, MTN, and Maggi place her among the richest musicians in Nigeria.

8. Timaya – The Dancehall King

Net Worth: $40 million

Key Albums/Singles: True Story, Gift and Grace, De Rebirth

Sources of Wealth: Music sales, concerts, endorsements

Timaya’s unique blend of dancehall and Afrobeat has earned him a huge following and financial success. His endorsement deals with brands like Hennessy and Glo keep him among the richest musicians in Nigeria.

9. Phyno – The Igbo Rap Icon

Net Worth: $30 million

Key Albums/Singles: No Guts No Glory, The Playmaker, Deal With It

Sources of Wealth: Music sales, concerts, endorsements

Phyno has made indigenous rap popular in Nigeria and beyond. His collaborations with Olamide have boosted his career and wealth, securing his place among the richest musicians in Nigeria.

10. Flavour – The Highlife Maestro

Net Worth: $28 million

Key Albums/Singles: N'abania, Uplifted, Thankful

Sources of Wealth: Music sales, performances, endorsements

Flavour’s mastery of highlife music has earned him international recognition. His endorsements and frequent tours keep him financially successful.

11. P-Square – The Twin Powerhouse

Net Worth: $27 million

Key Albums/Singles: Game Over, Danger, Double Trouble

Sources of Wealth: Music sales, concerts, endorsements

12. Asa – The Soulful Icon

Net Worth: $20 million

Key Albums/Singles: Asha, Beautiful Imperfection

Sources of Wealth: Music sales, concerts, international recognition

13. Kizz Daniel – The Hitmaker

Net Worth: $15 million

Key Albums/Singles: New Era, No Bad Songz

Sources of Wealth: Music sales, concerts, endorsements

14. Yemi Alade – The African Queen

Net Worth: $12 million

Key Albums/Singles: Mama Africa, Woman of Steel

Sources of Wealth: Music sales, endorsements, performances

Conclusion

The richest musicians in Nigeria have built their wealth through talent, strategic partnerships, and smart business moves. The Nigerian music industry continues to expand, offering even more opportunities for artists to generate wealth.