Top 20 Richest Musicians in Nigeria 2024 [Updated]

Discover the lucrative world of Nigeria’s booming music industry and the staggering wealth amassed by the richest musicians in Nigeria. Prepare to be amazed by the immense fortunes generated by the country’s top musical talents, showcasing the thriving financial landscape of Nigeria’s music business.

To help you understand the staggering wealth of these musical giants, we have put together a list of the top 20 richest musicians in Nigeria for the year 2024. Through record sales, tours, endorsements, and commercial endeavors, musicians like Wizkid, Davido, and Burna Boy, as well as modern hitmakers like 2Face Idibia and D’Banj, have amassed enormous wealth.

What is Net Worth?

The difference between an entity’s assets and liabilities is used to calculate its net worth, which represents the health of its finances. To put it another way, it’s the amount you possess less the amount you owe. You might want to know your net worth along with your favorite net worth, so before we delve into the main subject, let me give you a tip on how to track down your net worth.

How to Determine Your Net Worth

Here is an explanation:

Assets are the items you own that are valuable, like:
Accounts for cash and savings
Securities such as bonds and stocks
Real estate: your home and other holdings
Automobiles
Items that belong to the individual (such as jewelry or artwork, although their worth may vary)
Liabilities: These are the things you owe or have debts for, such as:
mortgages
student loans
Auto loans
Balances on credit cards
Overdue invoices
You just add up all of your assets’ values and deduct all of your liabilities’ totals to find your net worth.

This is the equation:

Total assets – total liabilities equal net worth.

If your assets are greater than your obligations, your net worth is positive; if it is negative, your liabilities are greater than your assets.

The amount of a person’s tangible assets is their tangible net worth. The process of determining an individual’s tangible net worth involves adding up all of their assets—cash, investments, and real estate as well as all of their debt, both secured and unsecured, and deducting the latter from the former.

Richest Musicians in Nigeria

A Brief Overview of the Music Industry in Nigeria

The music enterprises in Nigeria are enormous and still expanding. The global appeal of Afrobeats is causing Nigeria’s music industry to flourish. Performers like Burna Boy, Davido, and Wizkid have become well-known worldwide, garnering accolades and working with well-known musicians. They have paved the path for other Nigerian musicians to achieve international success.

vibezvibeUp-and-coming musicians now have additional chances because of the industry’s expansion. Afrobeats producers like Rexxie and Niphykeys, rappers like Kaid, Magnito, Ladi Poe, and Odumodublvck, and new vocalists like Ayra Starr, Zinoleesky, Seyi Vibez, Buju Bnxn, Asake, etc., are all rising to prominence. New musicians are being signed by independent labels, and performers are expanding their fan base with the aid of streaming platforms.

Nigeria’s burgeoning live music scene, plenty of youthful people who love music, and expanding internet access will probably all contribute to the music industry’s continued growth. The rhythmic sounds emanating from Nigeria are capturing the attention of people worldwide.

So let’s go! Nigeria’s greatest artists have accumulated large riches, and the country’s music business is booming. Prepare to be astounded by the millions of dollars these gifted Nigerian artists have made and will continue to make. You could be motivated to pick up an instrument or microphone by the quantity!

Top 20 Richest Musicians in Nigeria According to their Projected Networths

The most recent rankings are based on data from Forbes publications, industry insiders, and the performers’ well-known possessions and business dealings. These performers, who range from established icons to up-and-coming hitmakers, have accumulated enormous empires and huge fortunes from album sales, concerts, endorsements, and other commercial endeavors.

You will be enthralled by the journey these singers, rappers, and producers took to reach the pinnacle of fame and wealth, regardless of whether you are an ardent fan or are simply mesmerized by their extraordinary success and lavish lifestyles. The top 20 richest musicians in Nigeria are listed below, along with an estimate of their 2024 net worth.

Mr Eazi – $1 Billion

Nigerian singer-songwriter Mr. Eazi is also an entrepreneur. Oluwatosin Ajibade is his actual name. He is credited with creating the fusion style known as Banku music, which combines Nigerian chord progressions and rhythms with Ghanaian highlife.

The release of the popular song “Skin Tight,” starring Efya, in 2015 marked the beginning of Mr. Eazi’s career. He became famous in Ghana and Nigeria for the song, which also exposed him to a global audience.

About to Blow, his debut mixtape, was made available in July 2013. The February 2017 release of Life is Eazi, Vol. 1 – Accra to Lagos, increased his notoriety even further. The mixtape, which included WizKid, Mugeez, Medikal, and Big Lean, was streamed over 64 million times on Tidal. The music of Mr. Eazi combines patois and rhythms from

He named the sound he created in Ghana and Nigeria “Banku Music.” Songs like “Leg Over,” “Pour Me Water,” “Holl’ Up,” “Dance for Me,” and “Miss You Bad” are among his best-known hits.

To assist up-and-coming African musicians, the artist started emPawa Africa, a talent incubator program. To support and advance African music, he has established a $20 million Africa Music Fund and made investments in African entrepreneurs.

Afrobeat Treasure Due to the sale of his music portfolio company, Vydia, Mr. Eazi’s net worth has increased to several billions of dollars. The $1 billion deal is part of the arrangement, which is said to be the biggest music contract in Afrobeat history.

Davido – $100 Million

Davido, whose full name is David Adeleke, is currently one of the most popular musicians in Africa. In his career, the 30-year-old Nigerian singer, songwriter, and record producer has amassed a sizable wealth. Davido’s big songs, “Fall,” “If,” and “Blow My Mind,” with Chris Brown, have garnered him over a billion views on YouTube and substantial financial success.

The self-proclaimed “Omo Baba Olowo,” whose Yoruba meaning is “son of a wealthy man,” has amassed a net worth of almost $100 million thanks to his sold-out performances, brand agreements with companies like Martell and Puma, and his own record label, Davido Music Worldwide. Not bad for a man who became famous while still a college student by uploading cover songs to YouTube.

With widespread recognition and other blockbusters undoubtedly in the works, that figure will only continue to rise. Davido is the epitome of what it means to follow your passion, put in the effort, and succeed. This Afrobeats sensation has a bright future ahead of him.

Wizkid – $90 Million

Ayodeji Ibrahim Balogun, better known by his stage name Wizkid, is a singer-songwriter from Nigeria. At the age of 19, he published his debut album, having begun recording music at the age of 11. As one of the most well-known and honored African musicians of all time, Wizkid is credited with helping to establish the development of contemporary Afrobeats.

He has received several accolades in the music industry, including a Grammy Award for his work on Beyoncé’s song “Brown Skin Girl.” Wizkid is the second wealthiest artist in Nigeria, with a net worth of $90 million. His endorsement contracts included Pepsi, Guinness, and Nike.

He also owns a collection of high-end vehicles and houses in Lagos. Numerous upcoming Afrobeats musicians have been influenced by Wizkid’s achievements and widespread appeal. The 33-year-old is still a significant player in the music business in Nigeria and throughout Africa.

Burna Boy – $80 million

One of Nigeria’s most well-known Afro-fusion musicians is Burna Boy. His distinct sound, which combines Afrobeat, hip-hop, dancehall, and reggae, has made him a global sensation. He goes by Damini Ogulu in real life.

Burna Boy, who was born in 1991, began creating music at a young age and became well-known in 2013 after his hit song “Like to Party” was released. He received widespread acclaim for his 2018 album “Outside” and was included on Beyoncé’s “The Lion King: The Gift” album.

Among Burna Boy’s most well-known tracks are Ye, On the Low, Last Last, and Anybody. His album “Outside” from 2018 was a huge hit. Nigerian music gained international recognition in 2019 when Burna Boy won the Best International Act title at the BET Awards.

He has also received many Soundcity MVPs and MTV awards. Burna Boy’s “Twice As Tall” album won Best Global Music Album at the 2021 Grammy Awards. Best Global Music Album went to Burna Boy’s “Twice As Tall” during the 63rd GRAMMY Awards Premiere Ceremony. It’s his first career GRAMMY victory.

Burna Boy is well-known for his distinct style and sound. His music promotes themes of empowerment, togetherness, and independence while fusing many genres. He has collaborated with well-known musicians including Dave, Ed Sheeran, and Beyoncé. Burna Boy’s global fame is growing.

He has a sizable fan base and has played on prominent stages, such as Coachella. Without a doubt, Burna Boy will continue to lead the charts for a long time. Through song sales, streaming, touring, endorsements, and investments, Burna Boy has amassed substantial wealth.

Burna Boy has many endorsement deals, a fleet of fancy automobiles, and opulent residences. Even with his wealth and notoriety, Burna Boy maintains his groundedness by frequently singing about the hardships faced by many Nigerians.

Olamide – $70 Million

Olamide, whose estimated net worth is $70 million, is among the wealthiest musicians in Nigeria. Olamide, who is well-known for his upbeat live performances and Yoruba rap, has nine albums under his belt since 2011 and several accolades to his name. Olamide Adedeji is his name, and he is from Ogun State.

The songs “Wo,” “Science Student,” “Durosoke,” and “Melo Melo” are among his best-known hits. The YBNL Nation record label, which he founded and serves as CEO of, has produced well-known musicians such as Lil Kesh, Adekunle Gold, Asake, and Fireboy DML.

Olamide’s fortune is derived from his record company, endorsement deals, live appearances, and album sales. He has hefty endorsement contracts with Itel Mobile, Cîroc, and Glo.

Don Jazzy – $68 Million

Michael Collins Ajereh, better known by his stage name Don Jazzy, is a Nigerian record producer, singer, songwriter, and businessman. In 2004, he was a co-founder of the now-defunct record company Mo’ Hits Records. On May 8, 2012, Don Jazzy founded Mavin Records when the previously stated record label closed.

Talented musicians from the Supreme Mavin Dynasty include Crayon, Ayra Starr, Boy Spyce, Ladi Poe, Bayanni, Magixx, and others. With an estimated net worth of $68 million, Don Jazzy is among the wealthiest artists in Nigeria.

In addition to working with several well-known musicians including D’banj, Wande Coal, Tiwa Savage, Reekado Banks, Korede Bello, Di’Ja, and many more, he has created several popular songs.

He has produced some of the biggest Afrobeats tracks, such as D’banj’s “Oliver Twist.” Among them are “Dorobucci” by Mavins, “Adaobi” by Mavins with Don Jazzy, and “Question” by Burnaboy with Don Jazzy. He is not just a musician; he also has many sponsorship deals. In Lekki, Lagos, he also has a multimillion-dollar house.

2Face idibia (2 Baba) – $22 Million

The “African Queen” 2face Idibia, often referred to as 2Baba is a singer, songwriter, and record producer from Nigeria. He was formerly a part of Plantashun Boiz, a former R&B group. 2Face is one of the best-selling musicians in Africa with six studio albums to his credit and over 40 million copies sold globally. Idibia, Innocent, is his true name.

One of the most well-known and prosperous Afro-pop performers in Africa is 2Face Idibia. In addition to winning several music accolades, 2Face has released six studio albums. In Nigeria, he is regarded as an icon and one of the best vocalists of his generation.

In the 1990s, 2Face started his musical career as a member of the hip-hop group Plantashun Boiz. His self-titled first album, Face 2 Face was released in 2004 and made him a successful solo performer. Grass 2 Grace, his follow-up album, is still regarded as a classic.

Hit hits including “African Queen” and “Nobody But Me” were featured on the album. 2Face has worked with several musicians over the years, including Mary J. Blige, Bridget Kelly, Fally Ipupa, and Wyclef Jean.

2Face is renowned for its charitable endeavors as well. Because of his humanitarian efforts and contributions to the music business, he founded the 2Face Foundation, an organization dedicated to advancing education and peacebuilding in Nigeria.

With more than 100 songs, six successful albums, and a career spanning more than 20 years, 2Face has earned the right to be considered among the best musicians Nigeria has ever produced. He still performs live and tours the globe. He is among the richest artists in Nigeria with an estimated net worth of $22 million because of his remarkable record and influence on African music.

Paul okoye (Rudeboy) – $16.5 Million

Paul Okoye, better known by his stage name Rudeboy, is a well-known singer, songwriter, and record producer from Nigeria. He and his twin brother Peter Okoye comprise part of the Nigerian Afrobeat group P-Square.

His riches were accumulated from endorsement deals, real estate investments, music, and other economic endeavors. Rudeboy began his solo music career after P-Square broke up in 2017, with hits including “Reality,” “Chizoba,” “Reason with Me,” and “Fire Fire.”

“Double Double,” his debut solo album, was a huge hit and contributed to his rise to prominence. He has collaborated with musicians including Phyno, Yemi Alade, and Olamide, and runs a record label named Fire Department Inc. (FDI).

Paul and Peter Okoye, members of P-Square, are back in collaboration after a five-year separation. The two brothers exchanged apologies and were shown holding hands in a picture on November 17, 2021.

Without a doubt, one of Nigeria’s most well-known and prosperous musicians is Rudeboy. His remarkable wealth and possessions demonstrate that he is one of the wealthiest artists in Africa, not just in Nigeria.

D’banj – $15 Million

D’banj is a Nigerian musician, entrepreneur, and vocalist. D’banj, a well-known musician who popularised Afrobeat, is responsible for hits including “Oliver Twist” and “Fall in Love.” Although he performs under the stage name D’banj, his true name is Dapo Daniel Oyebanjo.

Counting $15 million as his net worth, D’banj is among the wealthiest artists in Nigeria. He owns companies in several different sectors, including a television studio, a record label named DB Records, and a range of upscale headphones known as Beats by Dre. The first African musician to be signed to Kanye West’s GOOD Music label was D’banj.

Peter Okoye (Mr P) – $12 Million

Mr. P, often referred to as Peter Okoye is half of the old P-Square team. Mr. P. Nigerian singer, dancer, and record producer Peter Okoye is well-known. Peter has carried on producing music and earning money on his own ever after they broke up. His estimated net worth is $12 million, which he has amassed throughout his solo career and other commercial endeavors.

Popular songs that have topped charts in Nigeria and other countries include “Ebeano,” “Zombie,” and “Kololo,” all of which were recorded by Mr. P. Following the dissolution of P-Square, he started the record company PClassic Records. Well-known musicians who continue to release hits include Singah, Slim P, and Selebobo.

Throughout his career, Peter Okoye has amassed an astounding amount of cash. At now, his net worth exceeds $12 million in US dollars. His work with P-Square, which includes hits like “Chop My Money,” “Personally,” and “Beautiful Onyinye,” accounts for a sizable portion of his income. In 2021, the pair reconciled.

Phyno – $11 million

One of the wealthiest musicians in Nigeria is the Igbo rapper Chibuzor Nelson Azubuike, better known by his stage name Phyno, who is reported to be worth $11 million. His breakthrough song, “Ghost Mode,” in 2012 made him a household name and successful figure in the Nigerian music industry.

Renowned for his Igbo rapping, Phyno has put out four solo albums and two collaborative albums with Olamide. His sound is a fusion of hip-hop, highlife, and Igbo rap. He has promoted well-known companies like NairaBet and GLO and has a musical label called Penthauze Music.

Timaya – $10.5 Million

Nigerian singer-songwriter Timaya was born Inetimi Timaya Odon in Bayelsa State. He is DM Records Limited’s founder. In 2005, he launched his solo career with the release of “Dem Mama,” which was featured on his first album, True Story. His second album, Gift and Grace, came out in 2008.

Timaya blends dancehall, reggae, and Afropop in her songs. Because he invented and popularised the dancehall genre in the Nigerian music business, he is known as the “Dancehall King” of Nigeria. Hit songs including “Sanko,” “Cold Outside,” “Bum Bum,” and “Balance” are among his repertoire. He has received several accolades for his work in music, most notably the 2008 Headies Award for Best Reggae/Dancehall Album for Gift and Grace.

Through record sales, live performances, endorsements, and investments, the singer who was born in Edo State has amassed significant success and fortune over the years. With an estimated net worth of $10.5 million, he is among the wealthiest Nigerian musicians. Timaya has a lavish lifestyle complete with fancy vehicles and homes. He is still producing hits and has a significant influence on the Nigerian music industry.

Flavour – $10.2 Million

Flavour N’abania, the king of Nigerian modern highlife music, is among the wealthiest artists in the nation, with an estimated net worth of $10.2 million. The singer, composer, and multi-instrumentalist, who is well-known for hits like “Nwa Baby (Ashawo Remix),” “Ndi Ike,” “Adamma,” and “Oyi Remix” with Tiwa Savage, has established himself as a new school highlife music hero.

Flavour, whose real name is Chinedu Okoli, started playing music at an early age by picking up drumming at his neighborhood church. He is renowned for fusing modern pop and dance music with African rhythms.

Flavour performs as a dancer, model, and entertainer in addition to being a musician. Flavour keeps going with a variety of endorsement arrangements with companies including Bullet Energy Drink, Life Continental Lager Beer, and more. He continues to increase his money and success.

Tiwa Savage – $9 Million

One of the most well-known female musicians in Nigeria is Tiwa Savage. Known as the “Queen of Afrobeats,” Tiwa has received several honors for her work in music, including the Nigeria Entertainment Awards, Channel O Music Video Awards, MTV Europe Music Award, and City People Entertainment Award.

Her popular songs include “Somebody’s Son,” “All Over,” “Eminado,” “My Darlin,” and “Ma Lo.” In 2013, Tiwa Savage wed Tunji “Tee Billzz” Balogun, her previous manager; the pair had a son in 2015 before divorcing in 2018.

She presently has a songwriting agreement with Sony/ATV Music Publishing and secured a record deal with Universal Music Group Nigeria in 2018. Major endorsement contracts with companies like Pepsi, Tecno, Forte Oil, and MTN were also inked by Tiwa.

Banky W – $9 Million

Olubankole Wellington, a.k.a. Banky W, is a Nigerian rapper, singer-songwriter, actor, record producer, and R&B performer. Banky W, dubbed the “King of R&B” in Nigeria, is a multiple music award winner, having won the Nigerian Entertainment Awards among others. In addition, he is credited with helping to start Empire Mates Entertainment (EME), a musical company.

Since starting his musical career in 2002, Banky has put out four studio albums. His most well-known songs are “Lagos Party,” “Strong Ting,” and “Jasi.” His silky, lyrical R&B style with a hint of hip-hop is well-known.

Aside from music, Banky has made money by endorsing brands for global corporations like Etisalat, Martell, and Ciroc Nigeria. He has also experimented with acting, and landing parts in the films The Wedding Party and the TV show Shuga.

Having worked in the music business for more than 20 years, Banky W has solidified his place as an R&B legend and one of the wealthiest musicians in Nigeria. In 2017, he married Nollywood actress Adesua Etomi, and the two became parents to a boy. He still has a significant role in the music industry and pursues entrepreneurial endeavors.

Yemi Alade – $8 Million

Yemi Alade is an estimated $8 million rich Afro-pop singer, composer, and activist from Nigeria. Her native state is Ondo State.

With the release of her famous song “Johnny” in 2014, Yemi Alade rose to fame. The song became an anthem throughout Africa and a huge smash. With more than 150 million views on YouTube, the corresponding music video has become one of the most popular Nigerian music videos at the moment. She is the recipient of many honors, including the Headies, Nigeria Entertainment Awards, and MTV Africa Music Awards.

Yemi wants to encourage girl power, empowerment, and education via her songs. Yemi has worked with celebrities including Angélique Kidjo, Sauti Sol, Rick Ross, and Fally Ipupa. Her unique blend of pop, R&B, dancehall, reggae, and traditional African components has won her admirers not just on the continent but also outside of it. She has released five albums in the studio.

M.I Abaga – $7 Million

One of the most popular hip-hop musicians in Nigeria is M.I. Abaga, also known as Jude Lemfani Abaga, the self-described “Chairman” of Chocolate City. Famed for singles including “Number One,” “Safe,” and “Nobody,”

M.I. has worked with well-known musicians like Ice Prince, Brymo, and Wizkid. She has also received other music accolades, including the MTV Africa Music Award. Having worked in the music business for more than 15 years, M.I. has amassed a sizable discography and a devoted fan base. In 2012, he started Chocolate City Music as a record company to support emerging musicians.

Even though he has been concentrating more on the label and releasing fewer songs of his own in recent years, M.I. continues to make a good living from his past successes, appearances, and other commercial endeavors. With an estimated $7 million in net worth, he is among the wealthiest rappers in Nigeria.

Tekno – $7 Million

One of the most gifted artists in Nigeria is Tekno Miles. The hip-hop and afrobeat performer has put out several successful tracks, including “Duro,” “Pana,” and “Diana.” He has a large following in Nigeria and across the world because of his catchy melodies and exuberant dancing skills.

Tekno’s earnings from concerts, brand sponsorships, and streaming income are thought to have contributed to his projected $7 million net worth. Tekno is still one of the most popular musicians in Nigeria and has attained incredible success at the young age of thirty. His youthful appeal and musical prowess guarantee his place as a major player in Nigerian music for many years to come. Top-20-richest-musicians-in-Nigeria-2024-Forbes-updated

Jidenna – $6 Million

Jidenna is a Nigerian-American singer, songwriter, record producer, and recording artist. His 2015 hit song “Classic Man,” which featured Roman Gian Arthur, is what made him famous. The Chief, his first studio album, was made available in February 2017.

Jidenna was born in Wisconsin and raised in both the US and Nigeria. In college, he started producing and performing at Stanford University. Jidenna dedicated himself to his music profession full-time after graduating.

His big break came when “Classic Man” was released and reached at number 22 on the US Billboard Hot 100 list. This smash song’s popularity resulted in a record deal with Epic Records.

Jidenna’s music is a fusion of Nigerian pop, R&B, funk, and hip-hop. Themes of African and African-American identity are frequently discussed in his lyrics. He is well-known for wearing traditional Nigerian attire and his trademark three-piece suits. Jidenna is nominated for a Grammy and has received other accolades, including a Soul Train Music Award.

With many commercial endeavors and a growing music career, Jidenna has amassed an estimated net worth of $6 million. He keeps making records and putting out new songs. Jidenna is an encouragement to young Nigerians who aspire to be famous and successful elsewhere in the globe. His captivating demeanour and advocacy for African culture have enabled him to emerge as a significant player on the international scene.

Patoranking – $5 million

One of Nigeria’s most well-known dancehall performers is Patoranking. He was born Patrick Nnaemeka Okorie and raised in Lagos’s Ijegun-Egba Satellite Town. Timaya’s appearance in “Alubarika,” which was released in 2013, marked Patoranking’s breakthrough. The song marked Patoranking’s debut in the Afrobeats industry and was an enormous smash.

Patoranking has since put out several successful singles, including “Girlie O,” “My Woman, My Everything,” and “Suh Different.” “God Over Everything,” his debut album, was published in 2016. Collaborations with Phyno, Olamide, Wizkid, and other artists were included. Patoranking’s position as one of Nigeria’s top new performers was solidified by the album.

Patoranking is well-known for his captivating and upbeat live performances. His sound blends Afrobeats, reggae, and dancehall. Patoranking is the recipient of several accolades, such as the 2014 Nigeria Entertainment Awards’ Best New Act title.

With an estimated $5 million in net worth, Patoranking is among the wealthiest artists in Nigeria. His songs, live performances, and commercial sponsorships account for the majority of his riches. Among the businesses, Patoranking has endorsement agreements with include MTN Nigeria, GLO, and Guinness Nigeria.

Hit songs are still being released by Patoranking, who also performs at important events throughout Africa. Without a doubt, he is among the rising stars of the Afrobeats movement in the new school. Patoranking is only 33 years old, yet he’s already quite successful.

Nigeria’s music business is flourishing, enabling the most well-known musicians in the country to have extremely successful careers and accumulate significant money. Up-and-coming Nigerian artists may also become famous if they have the correct circumstances, skills, and amount of hard work.

In conclusion, here is the list of the top 20 richest musicians in Nigeria. These musicians have demonstrated that you can have a successful career in music if you have skill, perseverance, and hard work. Their tales are motivational, even if the road isn’t simple.