In the vibrant music scene of Nigeria, some musicians have achieved remarkable success, earning them massive fortunes.
Today, we will explore the top 10 richest musicians in Nigeria, uncovering their extraordinary journey to fame and fortune.
These artists have amassed enormous wealth through their talent and hard work, captivating both young and old fans alike.
Let’s dive into the lives of these music superstars who have taken Nigeria and the world by storm!
Olamide Gbenga Adedeji, born on March 15, 1989, is a Nigerian rapper, singer, and songwriter.
He played a vital role in launching Afrobeats music stars’ careers. His debut album, Rapsodi, was released in 2011 under Coded Tunes.
YBNL, his follow-up album, came under his label “Yahoo Boy No Laptop” (YBNL Nation).
His music is in Yoruba and English. Olamide signed an endorsement deal with Cîroc on July 17, 2013, becoming the first Nigerian to do so.
In 2010, he began his career with the single “Eni Duro” and performed at The Hip Hop World Awards the same year.
Though he studied mass communication at Tai Solarin University, financial difficulties led to his dropout.
The Nigerian rapper, Olamide who is number 10 richest musician in nigeria has a net worth of $10.5 million.
- Peter Okoye (Mr P)
Peter Okoye who is known as Mr. P, is a Nigerian singer who gained fame as part of the P-Square duo with his twin brother Rudeboy.
In 2021, he received an honorary Doctorate degree from ESCAE University in Benin Republic.
After the disbandment of P-Square in 2017, Mr. P released solo singles like “For My Head” and “Cool It Down”. In 2018, he collaborated with Nyanda on “Wokie Wokie”. He later founded PClassic Label and released a debut album, “The Prodigal”, in 2021, featuring various artists.
Mr. P became a Kia motor ambassador in June 2016 and a brand ambassador for Olympic milk in 2021. He also founded the reality TV show “Dance with Peter”, sponsored by Globacom Telecommunication Limited. In August 2021, he became the brand ambassador for Adidas.
The Nigerian singer, Peter Okoye who is number 9 richest musician in nigeria has a net worth of $12 million.
Timaya is a Nigerian singer and songwriter, who gained popularity by blending Nigerian pop with dancehall, hip-hop, and soca.
He is the king of Afro-Soca music, known for his Afro-Caribbean/Dancehall style.
In 2005, he started his solo career with “Dem Mama” and released successful albums like “Gift and Grace” and “De Rebirth.” Collaborating with Dem Mama Soldiers, he released “LLNP.”
His 2012 album, “Upgrade,” brought hits like “Bum Bum” and “Sexy Ladies.” Timaya received numerous awards and nominations, including Headies and AFRIMMA Awards.
In 2021, his single “Cold Outside” with BNXN and Yung Willis gained massive popularity with over 75 million streams and 500 million plays worldwide.
On March 16, 2022, he released the single “Charger” from his upcoming album “Chuloverse,” showcasing his unique vocals over a modish Amapiano rhythm produced by Smeez & D3an, a Nigerian Amapiano duo.
He iis brand ambassador for MTN, Globacom, Hennessy and Moniepoint.
The Nigerian singer, Timaya who is number 8 richest musician in nigeria has a net worth of $14 million.
Oladapo Daniel Oyebanjo, known as D’banj, is a Nigerian singer, rapper, and founder of Mo’ Hits Records.
He won awards, including Best African Act at the MTV Europe Music Awards 2007 and Artist of the Year at the MTV Africa Music Awards 2009.
D’banj’s hit “Oliver Twist” topped charts in Africa and reached No. 2 on the UK R&B chart. He plans to release his album “Ikebe” in 2021.
Born on 9 June 1980 in Zaria, Nigeria, D’banj’s parents had military and church backgrounds. He was introduced to music by his late brother Femi, who inspired him to pursue his passion.
He got his first endorsement from an energy drink called Power Fist. Later, he became the Bank of Industry ambassador and had deals with Globacom, Beats by Dre, and Ciroc Nigeria. He is now one of Nigeria’s richest Afrobeats artists.
The Nigerian rapper, D’banj also known as Koko master who is number 7 richest musician in nigeria has a net worth of $14 million.
- Paul Okoye (Rude Boy)
Paul Okoye, also known as Rudeboy, is a Nigerian singer. He gained fame in the 2000s as part of the P-Square duo with his twin brother Peter Okoye.
After P-Square disbanded in 2017, they pursued separate music careers.
Rudeboy released solo tracks ‘Fire Fire’ and ‘Nkenji Keke’ in 2017, with “Reason With Me” becoming the most-viewed YouTube video in Africa in 2019.
He founded Fire Department Inc, a record label, in 2019 and dropped his debut studio album, Rudykillus, in 2021.
Paul attended St. Murumba secondary school in Jos, where he and his brother Peter, aka Mr P, performed covers of songs by MC Hammer, Bobby Brown, and Michael Jackson in a music and drama club.
The Nigerian singer, Paul Okoye who is number 6 richest musician in nigeria has a net worth of $16 million.
- Burna Boy
Burna Boy is a Nigerian singer and songwriter, who gained fame in 2012 with “Like to Party” from his debut album L.I.F.E (2013).
He signed with Bad Habit/Atlantic Records in the US and Warner Music Group globally in 2017. His third album, Outside (2018), marked his major-label debut.
In 2019, he won Best International Act at the BET Awards and was named Apple Music Up Next artist.
African Giant (2019) won Album of the Year at the All Africa Music Awards and was nominated for a Grammy.
He won Best World Music Album for Twice as Tall (2020) at the 63rd Grammy Awards and Best International Act at the 2021 BET Awards.
His sixth album, Love, Damini (2022), had a significant debut on the Billboard 200 chart and topped charts in the Netherlands, UK, and France.
He received the Member of the Order of the Federal Republic plaque in October. Rolling Stone ranked him 197th among the greatest singers of all time in 2023. He won Best International Act at the 2023 BET Awards, making it his fourth win in the category.
In January 2023, Burna Boy denied nightclub shooting and rumors about his mother. In April, he released “Mera Na” featuring Sidhu Moose Wala, which charted internationally.
On June 10, he became the first African artist to perform at the UEFA Champions League Final Kick Off Show. Burna Boy leads Spotify’s all-time top 10 afrobeats artists globally.
The Nigerian singer and songwriter, Burna Boy who is number 5 richest musician in nigeria has a net worth of $17 million.
- 2Baba (2Face)
2Baba whose real name is Innocent Ujah Idibia, is a Nigerian singer, songwriter, and record producer.
He gained fame with his album Face2Face, especially the hit “African Queen,” which boosted Nigerian pop music in the 2000s.
He is revered as one of Africa’s greatest musicians. 2Baba won the MTV EMA Best African Act award in 2005 and holds numerous accolades as one of Nigeria’s most awarded musicians.
In 2019, he collaborated on a song to raise awareness for children’s rights. Previously part of the group Plantashun Boiz, he later became the African ambassador for Campari and was endorsed by brands like Guinness, Airtel, and Oraimo.
Currently, he represents Pazino Homes and Gardens, a real estate brand.
The Nigerian singer and songwriter, 2Baba (2Face) who is number 4 richest musician in nigeria has a net worth of $22.5 million.
- Don Jazzy
Don Jazzy, also known as Michael Collins Ajereh, is a Nigerian record producer and CEO of Mavin Records.
He co-founded Mo’ Hits Records with D’Banj in 2004, producing successful albums. Don Jazzy collaborated with Kanye West and Jay-Z, and in 2012, he founded Mavin Records.
The label signed artists like Tiwa Savage and Reekado Banks.
Despite conflicts, Don Jazzy maintained respect and support for departed artists like Wande Coal and Reekado Banks.
He continued to expand the label, signing Rema, Ayra Starr, and Magixx. In 2021, he shared his reasons for not signing Davido.
The Nigerian rapper, Olamide who is number 3 richest musician in nigeria has a net worth of $25 million.
David Adedeji Adeleke, also known as Davido, is a Nigerian singer and producer.
He rose to fame with his unique style, contributing to African music’s evolution. Davido’s journey began in 2012, debuting with the album “Omo Baba Olowo,” featuring hits like “Dami Duro.”
He later signed with Sony Music, establishing Davido Music Worldwide. His popularity soared with songs like “If” and “Fall.”
Davido is an influential figure, featured in Time magazine’s Time 100 Next List. He released four studio albums, including “A Better Time” and “Timeless.”
Beyond music, Davido is a philanthropist, owning “The Adeleke Foundation (DAF).” He has also endorsed brands like MTN, Infinix Mobile, 1xBet, Martell, and Puma.
The Nigerian singer, Davido who is the 2nd richest musician in nigeria has a net worth of $27.6 million.
He gained fame with his debut album “Superstar” in 2011, featuring hit singles like “Holla at Your Boy.”
Later, his collaboration with Drake on “One Dance” achieved global success.
Wizkid’s fourth album, “Made in Lagos” (2020), topped the Billboard World Album Chart, and the single “Essence” made history on the Billboard Hot 100. In 2022, he released his fifth album, “More Love, Less Ego.”
Throughout his career, Wizkid secured endorsement deals with Pepsi, MTN Nigeria, and Guinness.
He continues to be a prominent figure in the modern-day Afrobeats music scene.
The Nigerian singer, Wizkid who is the current richest musician in nigeria has a net worth of $30 million.