Nigeria’s music industry is a force to be reckoned with. As one of the country’s fastest-growing sectors, it has become a multi-trillion-naira industry and ranks as one of the highest-paying professions in the country. With prominent singers earning staggering amounts of income, it’s no wonder that many aspiring musicians are drawn to this lucrative field. In this blog post, we’ll be exploring the richest musicians in Nigeria, with a focus on SEO optimization for “richest musician in Nigeria”. The rise of Afrobeats, pioneered by Nigerian artists, has not only dominated the music scene in Africa but has also had a global impact, with some of the genre’s top stars making waves worldwide. From Wizkid to Davido, Tuface Idibia, and Don Jazzy, we’ll be looking at the musicians who have achieved incredible longevity and amassed significant wealth. Join us as we delve into the world of Nigerian music and the artists who have made it big.
1.Wizkid
Net worth: $30 million
With an estimated net worth of $30 million, Wizkid, the first Nigerian to sell out the 02 Arena in London for three consecutive nights, is the richest musician in Nigeria.
Since the release of his first song, “Holla at Your Boy,” in 2010, Wizkid has smashed several national and international music records. A deeper examination of Wizkid’s progression over the years reveals that his ascent to the top of the list of the richest musicians in Nigeria was inevitable.
Wizkid owns two mansions: one in Surulere, Nigeria, worth approximately 13 million NGN, and the other in Los Angeles, California.
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A BMW X6 crossover, a Porsche Panamera, a Lamborghini Urus, and a Mercedes-Benz G63 AMG are among Wizkid’s automotive collections.
“Essence,” from Wizkid’s highly praised 2020 album “Made in Lagos,” is the first Nigerian song in history to rank on the Billboard Hot 100 and Billboard Global 200.
The song was nominated for “Best Global Music Performance” at the 64th Annual Grammy Awards and selected as the best song of 2021 by the US magazine Rolling Stone.
In addition to being the richest musician in Nigeria, Wizkid is one of the country’s most streamed musicians, as described by Apple Music, which dubbed him “a representative for not only the sounds of Lagos but Afrobeats as a whole.”
2.Davido
With an average of 20 million YouTube views per video, Davido, the son of one of Nigeria’s richest politicians, Chief Adeleke, is the second-richest musician in Nigeria.
Davido, whose net worth is 21 million USD, is contracted to Sony Records, a record company that currently houses SZA, Pink, Future, and Meghan Trainor, amongst others.
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Davido, who once held the title of Africa’s best-selling artist, has a long list of accomplishments that culminated in his performance at the World Cup closing ceremony in Qatar in 2022, cementing his spot among Nigeria’s richest musicians.
Davido has won several honours, including BET and MTV awards, and has gained sponsorships from MTN, PUMA, and Guinness Nigeria as brand ambassadors after gaining worldwide fame. His streak of endorsement contracts is the best evidence of his standing as one of the richest musicians in Nigeria.
In 2021, Davido became the brand ambassador for Martell Cognac in a €12 million agreement, while PlayStation hired him in a similar capacity in 2022.
Davido showcases his reputation as one of the richest musicians in Nigeria with two opulent homes: a 140 million NGN property in Banana Island and a 20 million USD home in Atlanta.
A Rolls-Royce Cullinan 2019, a Bentley Bentayga, a Bentley Continental GT, a Range Rover SV Autobiography, and a Toyota Land Cruiser are among Davido’s collections of automobiles.
As one of the richest musicians in Nigeria, Davido reportedly demands no less than 10 million NGN for each performance.
3.Don Jazzy
Net worth: $20 million
Don Jazzy has carved a path in the music industry over the last three decades that has earned him a net worth of $20 million and a ranking of third among Nigeria’s richest musicians.
Mo-Hits Records, which he co-founded with Oladapo Daniel Oyebanjo, also known as Dbanj, contributed significantly to the accumulation of Don Jazzy’s fortune.
Nevertheless, Don Jazzy and Dbanj eventually split ways, resulting in the 2012 establishment of Mavin Records, Nigeria’s leading record company.
Tiwa Savage, Wande Coal, Reekado Banks, and Iyana have made names for themselves through Mavin Records. At the same time, Korede Bello, Dr. SID, D’Prince, Di’Ja, Johnny Drille, Ladipoe, DNA Twins, Rema, Crayon, Ayra Starr, Magixx, Boy Spynx, and Bayanni are now forerunners on the label.
Being one of the richest musicians in Nigeria, Don Jazzy has a strong interest in luxury automobiles and mansions. His car collection consists of a 2016 Cadillac Escalade, a Bentley Continental Flying Spur, a Range Rover Sport, and a Porsche 911 Carrera.
4.Burna Boy
Burna Boy, the first Nigerian to get consecutive Grammy nominations and the most streamed Nigerian artist after Rema, has a net worth of 20 million USD, making him the fourth richest musician in Nigeria.
Since his 2012 breakout, the Grammy-winning singer, rapper, composer, and lyricist has been one of the genre’s global forerunners.
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“Last Last” was one of American rapper Jay Z’s favourite songs of 2022 and was one of the top 10 most-searched songs on Google that year, one of only two non-Asian songs with Harry Styles’ “As It Was”.
The vast bulk of Burna Boy’s status as one of the richest musicians in Nigeria is attributable to exposure through streaming, with his song “It’s Plenty” being named one of 2022’s most streamed songs.
Burna Boy made history in 2021 when he won the 63rd Annual Grammy Award for Best World Music Album, becoming the first Nigerian solo artist to win the prize.
Being one of the richest musicians in Nigeria, Burna Boy derives a significant portion of his income from touring and ticket sales. In April, he became the first Nigerian musician to headline a sold-out show in New York City’s Madison Square Garden.
Burna Boy’s standing as one of the richest musicians in Nigeria is said to have increased by at least $7.3 million thanks to this sold-out venue of 20,789 people.
Burna Boy has a home with eight bedrooms in Lekki, Lagos, as well as a number of expensive vehicles, including a Range Rover Autobiography, a 2022 Lamborghini Urus Novitec Edition, a 2013 Ferrari 458 Italia, and a Rolls-Royce Dawn Convertible.
5.2baba
Net worth: $18 million
With an estimated net worth of $18 million, legendary African singer 2baba is the fifth-richest musician in Nigeria.
2baba, a music superstar who rose to worldwide prominence with his 2004 song African Queen, demonstrated his financial prowess in 2022 by donating a multimillion-naira music studio to the Faculty of Music at Obafemi Awolowo University, OAU, in Ile Ife, Osun State.
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On October 11, 2022, President Mohammed Buhari honoured the veteran with the Order of the Niger (MON) for his contribution to the music industry, along with those of others. He has also been honoured with the MTV Music Awards, Headies, and BET Awards, among others.
Being one of the richest musicians in Nigeria, 2baba has luxurious houses in Ikeja, Festac, Lagos Island, and the United States. It has been established that he owns a Ferrari Coupe, a Toyota Land Cruiser, and a Chevrolet Corvette Coupe, despite doing an amazing job of not flaunting his fleet of automobiles.
6.P-Square
Net worth: $16 million
With a combined estimated net worth of 16 million USD, Peter and Paul Okoye of Psquare are the sixth-richest musicians in Nigeria. P-Square had a prosperous career in their prime, charging up to 15 million NGN per performance, a significant fee when accounting for inflation.
The duo’s career remained brisk until 2016 when they acrimoniously disbanded.
As one of the richest musicians in Nigeria, Paul Okoye of P-Square has a luxuriously furnished 1.5 billion NGN condominium in Banana Island, Lagos. He also has an expensive array of automobiles, including a Range Rover, a G Wagon, a Dodge Challenger, and a Porsche 718 Cayman.
Rudeboy of Psquare is the owner of a magnificent home in Parkview Estate, Ikoyi, Lagos, Nigeria, and also owns a Bentley Bentayga, a Mercedes-Benz GLE43 AMG 4MATIC Coupe, a Lamborghini Aventador Roadster, and a Lamborghini Huracan, among others.
7.Olamide
Net worth: $15 million
Renowned for his Yoruba rap and street hip-hop styles, Olamide, who has a net worth of $15 million is the seventh richest musician in Nigeria.
The current president of YBNL Nation, Olamide, who produces artists such as Asake, Fireboy DML, Jayboi, and others, has 10 albums and over 40 singles to his credit.
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In addition to being one of the richest musicians in Nigeria, Olamide has won other honours in the local music industry, such as Best Indigenous Artist and Album of the Year.
Olamide has two opulent homes in Lekki and Bariga, Lagos, as well as a garage stocked with luxury automobiles, including a Range Rover Sports, a Mercedes-Benz G Wagon, a Range Rover Sports V8, a Toyota Venza, and a Rolls-Royce Phantom.
8.Phyno
Net worth: $12 million
With an estimated $12 million net worth, native Igbo rapper Phyno is the eighth richest musician in Nigeria. Since 2003, when he began his career, Phyno has dabbled in music production and movie acting.
In 2018, Phyno solidified his position as one of the richest musicians in Nigeria by starring in Genevieve Nnaji’s Lion Heart, the first Nigerian Netflix original.
His endorsement partnerships include Nairabet, Nigerian breweries, Airtel Telecommunications, and others.
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Phyno demonstrates his reputation as one of the richest musicians in Nigeria with a duplex on Chevron Drive that allegedly cost over 170 million NGN and contains three bedrooms.
Phyno reportedly has a 70 million NGN mansion in his birthplace of Enugu and a fleet of flashy automobiles, including the Bentley Continental GT, Rolls Royce Phantom, Toyota Avalon, and Range Rover Sport.
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9.Timaya
Net worth: $11.4 million
Born on August 15, 1980, Timaya, who has a net worth of $11.4 million, is the ninth richest musician in Nigeria. Before releasing “True Story,” he was a member of the musical group “Dem Mama Soldiers.”
Timaya’s standing as one of the richest musicians in Nigeria is enhanced by his role as CEO of the DM record company, which debuted with King Perry. Runtown and Patoranking are two popular artists.
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Timaya, who presently owns a 250 million-dollar house in Lekki, Lagos State, is one of the most flamboyant characters on our list of the richest musicians in Nigeria. The singer never fails to flaunt himself, notably with his fleet of multicoloured Mercedes G-Wagons, which once went viral on social media.
Timaya’s automobile collection is outstanding, including a Mercedes-Benz GLE, a Bentley Continental GT, a Lexus LX570 2015, and a Mercedes-Benz G55 AMG.
10.Asa
Net worth: $10.5million
A Nigerian-French artist who rose into the spotlight with her first track, “Eye Adaba,” Asa is the tenth-richest musician in Nigeria. Her album “Asa” earned her the 2008 French Constantin Award in Paris from a jury of 19 music industry professionals.
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In the 2015 Headies, Asa received nominations for “Best R&B/Pop Album,” “Best Alternative Song,” “Best Vocal Performance (Female),” and “Best Recording of the Year.”
Despite being one of the richest musicians in Nigeria, Asa leads a peaceful life and has kept her privacy hidden, so neither her vehicles nor her homes are visible to the public.
