The year 2021 came with some high-end vibes as covid-19 vaccines rolled in across the globe, the Nigerian Music industry came to life in December 2021, as we bring you the Top 10 richest Musicians in Nigeria for the year 2023.
In this article, we would be looking at who are the richest musicians in Nigeria and their net worth in 2023. while we would also be answering the biggest question on many music lover’s minds, who is the richest musician in Nigeria in 2023?
Here are the top 10 richest musicians in Nigeria and their net worth who are currently making waves in the music industry in 2023.
Top 10 Richest Musicians in Nigeria and Their Net Worth (2023)
Flavour – Net Worth of $10 million
Born Chinedu Okoli, Flavour is one of the richest musicians in Nigeria from the eastern part of the country.
He started his musical career singing in the church. At the time, he was only a drummer for the church.
Flavour first gained prominence in 2005 with his hit single Nwa Baby (Ashawo Remix).
He has gone on to release several other hits after that including Ada Ada, Oyi, Ololufe, Baby Na Yoka, Golibe, Obianuju, Chimamanda and so many others.
One of his songs, Ada Ada, was nominated for the Best Music Video award at the 2014 MTV Africa Music Awards.
The Award-winning music star, Flavour N’abania released his highly anticipated seventh studio album, “Flavour of Africa” on the 4th of December 2020.
Flavour income is Majorly from music, coupled with some endorsement deals and sold out music shows, Flavour net worth is estimated at $10 million as he rounds up our list of Top 10 richest musicians in Nigeria for the Year 2021.
Paul and Peter Okoye (P-Square Reactivated) – Net Worth $13 million
How do you compile a list of the top ten richest musicians in Nigeria without mentioning this duo? With each of them having a net worth of $13 million dollars, the brothers take the 9th spot on this list of the top 10 richest musicians in Nigeria.
Born twin brothers on the 18th of November 1981 in Jos, Paul and Peter had one of the most successful musical careers in the history of Nigerian music.
They performed on some of the biggest stages in the world bringing home all the awards they found all the way.
However, things went sour between the twin brothers and they decided to part ways in 2017.
They both now have solo careers and many Nigerians have joked about how each of them is now an upcoming artiste.
But did this stop the money from coming in? Judging by their current net worth, apparently, money did not stop coming.
Paul is now known with the stage name Rudeboy while his brother Peter is Mr P. They have both managed a couple of hits in their solo career and brands have not stopped knocking on their doors for endorsement deals.
In 2021, the Alingo crooners finally buried the hatchet in their long-term beef and became Psquare reactivated, they performed in sierra leone and in Lagos Nigeria to end the year on a high note, their current net worth is estimated at $13 million dollars.
Phyno – Net Worth of $12 million (Richest Musicians in Nigeria)
When you hear songs like fada fada, then you definitely know it’s from the best Igbo rapper in Nigeria, Phyno.
You most likely first heard the name Phyno in 2012 with his smash hit Ghost Mode in which he featured Olamide. Well, that was the beginning of a musical career success that has now earned the Enugu-born rapper an estimated net worth of $12 million dollars.
Also, it was the beginning of his friendship with Olamide – a friendship that has produced hits after hits, including an album titled 2 Kings.
His real name is Chibuzor Nelson Azubuike and he is one of the best rappers Nigeria has ever seen, especially in the indigenous language. He started his musical career as a music producer but today you know the rest.
With a net worth of $12 million, Phyno is the 8th among the top ten richest musicians in Nigeria in 2021.
Timaya – Net Worth of $13 million
We know him as Timaya, Egberi Papa One of Bayelsa and Papi Chulo, but his real name is Enitimi Alfred Odom. He was born in Port Harcourt on the 15th of August 1980.
His reign in the music industry started as far back as back 2005 with his massive single Dem Mama.
There has been no slowing down for the Port Harcourt-born Bayelsa boy ever since.
Hits upon hits, awards after awards, you can say without mincing words that Timaya has paid his dues.
Today, Timaya has a total of seven albums and several singles. And what about features? At a time, Timaya was arguably the most featured Nigerian musician.
He occupies the 7th position on the list of the wealthiest musicians in Nigeria in 2021 with a net worth of $13 million.
Olamide – Net Worth of $14 million
Baddo Sneh, Olamide Adedeji has one of those inspiring rags to riches stories.
Born in Bariga, Lagos on the 15th of March 1989, who would have thought he would one day become the huge success that he is today? We are talking about Bariga here, the same Bariga.
He rose to prominence in 2010 with his rap single Eni Duro, meaning Y’all won’t wait.
And true to his words, no one waited for Baddo; no one could challenge his reign on the throne of indigenous rap and even the entire rap genre (arguably).
Olamide has eight studio albums and was one of the few artists who started the trends of annual musical concerts in the country. Today, almost every other artist does it. You’ve got to respect this guy.
Let’s not talk about awards, you won’t leave here today.
Olamide’s net worth is estimated at $14 million, based on his earnings from his music, among which is the latest album Capre Diem achieved over 80 million streams in 2020.
Other sources of Olamide’s Wealth, include real estate investments and numerous Endorsement deals which give him a bragging right on the list of top ten richest musicians in Nigeria 2021.
2Baba (2Face Idibia) – Net Worth $16 million (Richest Musicians in Nigeria)
Innocent Ujah Idibia, known widely as 2Face or 2 Baba net worth is estimated at $17 million as is one of the most decorated and successful musicians in Nigeria. He started his career as a member of a 3-man group called Plantashun boiz along with Faze and Black Face (who is now his sworn enemy).
Born in Jos on the 18th of September 1975, 2 Baba gave Nigerians hits such as African Queen, True Love, If Love is a Crime, Implication, Ifene Ibaga to just name a few. He even recently dropped another album that was widely accepted – 16 years after African Queen. That’s some legendary stuff.
With money coming in from music, real estate investments and endorsement deals here and there, 2baba is seating pretty among the list of the top ten richest musicians in Nigeria.
Don Jazzy – Net Worth of $20 million
Can you count how many times you’ve heard It’s Don Jazzy Again!? As many times as you’ve heard that is the number of times Don Jazzy has blessed our playlists as a nation.
Apart from being an iconic music producer, Don Jazzy is an entertainment business mogul and currently the CEO of Mavins which has artists such as Rema, DNA, Johnny Drille, Korede Bello, Dr Sid, D’Prince and until recently, Tiwa Savage.
Of course, you can’t talk about Don Jazzy without a mention of D’Banj. The two first took the industry by storm in the early 2000’s with D’Banj as the artiste and Don Jazzy as the producer (and the backup artiste sometimes).
They eventually parted ways (amicably?) and the two have maintained relevance even after the separation.
He sings too and we’ve seen him do that many times in songs with his Mavins family such as Ada Ada, Looku Looku and the big one, DoroBucci.
Of course, his real name is not Don Jazzy. He was born Michael Collins Ajereh on the 26th of November in Abia state, Nigeria. Don Jazzy net worth is estimated at $20 million means he is the fourth-richest musician in Nigeria.
Burna Boy – Net Worth of $25 million
Who Is Burna Boy?
Damilu Ogulu, popularly known as Burna Boy, is a songwriter, a singer, and one of the biggest artists in Africa.
Burna boy hails Mbiama, Ahoda west LGA in Rivers State, Nigeria. He was born in Port-Harcourt, Rivers State Nigeria, where he attended his primary and secondary schools. After high school, he went to Oxford.
The odogwu crooner became a household name in 2012 thanks to his hit single, Like Party. Since then, Burna boy has gone to release five studio albums and so many hit singles.
His first studio album, L.I.F.E was released in 2013, which has hits like “Run My Race”, “Like To Party” and “Yawa Dey”.
In 2019, Burna Boy’s story changed internationally. His album, Africa Giant made it to Grammy’s World Album category which he lost.
Burna Boy’s Music Career
Burna Boy’s career began getting recognized internationally in 2017 when he featured in “Fall Out Boys” “Sunshine Riptide”. That same year, he featured J Hus, Lilly Allen, and Mabel in his third studio album, “Outside”.
His last two albums- African Giant and Twice As Tall- have been nominated for the Grammy awards.
The whole of Nigeria and Africa at large are rooting for his 2020 album, Twice As Tall to win the Grammy’s world album award.
Burna Boy Net Worth 2021
In May 2020, the singer revealed that he is worth more than $3.5 Million. That is approximately N1.3 Billion. We have little or no doubt about this revelation, taking into account the luxurious cars and houses he owns, Burna boy is obviously one of the richest musicians in Nigeria.
He owns a house at Lekki, and another at Beverly Hills in the United States. Burna boy owns a fleet of luxurious cars such as Range Rover Autobiography SUV, Lexus SC 430, Mercedes Benz G Wagon, Bentley Continental GT, 2013 Ferrari, Rolls-Royce Dawn Convertible, and Ford Edge Sport.
Burna Boy net worth is estimated to be $25 million, making him third on the list of top 10 richest musicians in Nigeria in 2021.
Davido – Net worth of $40 million (2nd Richest Musician in Nigeria)
The name Davido is like a boomerang when it comes to the list of richest musicians in Nigeria in 2021. majorly because he’s of the most successful artist in terms of global export alongside Wizkid.
Davido is the second richest musician and artist in Nigeria with a net worth of $40 million U.S Dollars.
Davido made most of his income from his hit songs and albums which include A better time, released in November 2020, A good time which was released in 2019.
While also making millions of dollars from his music video as he is the only Nigerian artist with over 750 million Youtube video views.
In December 2021, Davido and his Manager in a now-deleted post revealed the artist made over $20 million dollars.
Other sources of his wealth come from endorsement deals which include the likes of MTN, Guinness Nigeria, and Infinix mobile.
Davido was born in Atlanta, United States of America to the rich and wealthy Nigerian family of Dr Adedeji Adeleke, a co-founder of the Adeleke University in Osun state and the CEO of Pacific Holdings Limited.
In October 2011 Davido announced himself to the world with the release of his hit single Dami Duro, produced by shizzi.
While releasing the Video for Dami Duro in January 2012 as it became the talk of the town enjoying massive airplay across Nigeria.
Davido released his debut studio album on July 17, 2012, Omo Baba Olowo (Child of a Wealthy Person) under HKN Music Record Label. The song was equally a hit song as it gained him more fans.
Since then, he has released countless singles which have brought him popularity, money and international recognition.
Davido was the executive producer of OBO and worked with other producers like Jay Sleek, Spellz, Maleek Berry, and others. It featured popular musicians like Sina Rambo, Ice Prince, Kay Switch, B-Red, 2 Face and Naeto C.
Davido’s cars and houses
Davido has two mansions in Lekki, Lagos, and a getaway mansion in Georgia, USA. Davido’s car collection is dazzling with:
- Rolls Royce Cullinan 2019 (~₦350 million)
- Bentley Bentayga (₦108 million)
- Bentley Continental GT (~₦95 million)
- Porsche Panamera Turbo S (~₦22.8 million)
- Range Rover Sports (₦84 million – ₦90 million)
- Range Rover SV Autobiography (₦98 million)
- Chevrolet Camaro GS (₦9.4 million)
- Audi R8 (₦23.4 million)
- Audi Q7 (₦12 million)
- Mercedes-AMG GLS63 (~₦45 million)
- Mercedes G-Wagon (~₦21 million)
- Toyota Land Cruiser (~₦30 million) several cars like a Porsche, Range Rover Sport and Chevrolet Camaro.
Wizkid – Net worth of $50 Million
who is the richest musician in Nigeria in 2022?
Give it up for Wizlion, Machala, Baba Nla and Wizman if you like. Born Ayodeji Ibrahim Balogun, Wizkid is up there as one of the artists who took African sounds to the outside world.
He got his first major break into the limelight with his Holla at Your Boy single in 2011. The rest, they say, is history.
He was born in Surulere, Lagos on the 16th of July 1990. He started singing at the age of 11 and released an album with his Glorious Five Group members (a group he formed with his friends).
Today he has collaborations with Beyonce, Drake, Ty Dolla Sign, Tinie Tempa, Akon, Chris Brown, and way too many others. There are rumors his forthcoming album, Made in Lagos would feature Sia.
Ladies and Gentlemen, Wizkid is the richest musician in Nigeria for the year 2022 with a net worth of $50 million.
Wizkid’s major source of income is via Music, investments, local and international endorsement deals which include a one Billion naira deal with United Bank for Africa in 2019.
His latest Album Made in Lagos has over 1 billion streams on digital platforms in 2021, as the album was listed among British Vogue’s 12 best Albums of 2020.
Wizkid’s hit single Essence featuring Tems also made Barack Obama’s Favorite songs of 2020.
In the year 2021 Wizkid sold-out the famous O2 arena for 3 straight nights of performance,becoming the first Nigerian and African artist to ever do in history.
Wizkid’s car collections and houses
Wizkid has a ₦13 million mansion in Surulere, Lagos, and another one in Los Angeles. Wizkid’s car collection includes:
- Lamborghini Urus (₦80 million)
- Porsche Panamera (~₦50.8 million)
- Used Mercedes Benz G63 AMG (₦55 million – ₦65 million)
- BMW X6 crossover (₦8.7 million)
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