Top 10 Richest Musicians in Nigeria and their Net Worth
Musicians in Nigeria have gained massive popularity with their strong local and international fan base. They have won countless awards, which have increased their chances of landing lucrative brand endorsement deals and high charges per show compared to musicians from other African countries. The country has one of the most vibrant music industries in Africa, if not globally. Therefore, there are undoubtedly more rich musicians in Nigeria than in any other country in Africa. If you wonder how wealthy your favourite Nigerian musician is, this article shares a list of the top 10 richest musicians in Nigeria and their net worth.
The country’s musical talent is inexhaustible, with many established and new musicians in Nigeria working hard and succeeding. Nigerian musicians release hits that resonate with African and global music fanatics. They are popularizing and putting Afro-pop music on the global map. However, they don’t waste their musical talents and hard work. They use it to earn their income and even invest in businesses to expand their wealth.
List of the Top 10 Richest Musicians in Nigeria and their Net worth
1. Davido
Real name: David Adeleke
Net worth: $70 million
Other names: Omo Baba Olowo (OBO)
Davido is one of the richest musicians in Nigeria. He is the son of Dr. Adedeji Adeleke, one of the richest men in Nigeria. He was born in Atlanta, Georgia, United States, on 21st November 1992. He attended school in Lagos before leaving Nigeria at 16 to enroll in a Business Administration course at Oakwood University in Alabama, USA.
While at the University, his urge to make music kicked in, so he bought musical instruments and started making beats. He eventually dropped out of Oakwood university to fully venture into music. He then headed to London to perfect his vocals and returned to Nigeria in 2011. His father urged him to go back to University, to which he agreed. He joined Babcock University in Nigeria to pursue music and graduated with a degree in music in 2015.
Davido released his first album dubbed “Omo Baba Olowo” in 2012. The album had singles such as “Back When,” “Dami Duro,” and “All for You.” The album largely received positive reviews from his fans, uplifting Davido’s music career to greater heights. The album got a nomination for the 2013 Best Album of the Year at the Nigeria Entertainment Awards. Davido has released more hits that made him more famous and richer.
2. Mr. P.
Real name: Peter Okoye
Net worth: $66.6 million
Mr. P. is the identical twin brother of Paul Okoye, also known as Rudeboy. Peter and Paul are the former Nigerian duo, P-Square, who took the African music scene by storm in the late 2000s and the early 2010s. They released hits such as “Temptation,” “E No Easy,” “Do Me,” “Temptation,” and “No One Like You.” However, they disbanded in 2017 over some disagreements.
Mr. P. moved on with his solo music career, releasing songs like “Ebeano,” “Zombie,” “Look Into My Eyes,” “For My Head,” and “Wokie Wokie.” However, fans did not appreciate his solo career much compared to when he worked with his brother, Paul, as P-Square.
While at his solo career, Mr. P. signed a lucrative endorsement deal with the world-renowned German sportswear maker Adidas. He was also given a brand ambassadorial role at KIA Motors Nigeria. Apart from that, he partnered with Glo, a Nigerian mobile phone network provider, to start a TV dance competition show known as “Dance With Peter.”
3. Rude Boy
Real name: Paul Okoye
Net worth: $66.1 million
Other names: Kingrudy
Rude Boy is one of the richest musicians in Nigeria who was a member of the former sensational music duo, P-Square, with his twin brother, Mr. P. The identical twins were born on 18th November 1981. They won many awards and the hearts of many fans with their melodic voices and spectacular dance moves.
Having separated from his brother and disbanded P-Square in 2017, Paul pursued his solo music career with “Rude Boy” as his new stage name. He released his first songs titled “Nkenji Keke” and “Fire Fire” as a solo musician in 2017. In 2019, one of his songs, “Reason With Me,” attracted the highest number of Youtube views in Africa. That same year, he founded a record label called Fire Department Inc.
4. Don Jazzy
Real name: Micheal Collins Ajereh
Net worth: $65.3 million
Don Jazzy is a wealthy and popular Nigerian music producer, musician, entrepreneur, and comedian. He was born on 26 November 1982 in Abiah state, Nigeria. At 12, Don Jazzy found a passion for music and experimented with different musical instruments like the piano, guitar, and traditional percussions. He is a business administration graduate from Ambrose Alli University.
With D’banj, a top-rated Nigerian musician, Don Jazzy founded Mo’ Hits Records, a record label that specialized in Afro beats. D’banj was the first musician that they signed. The label produced two of his albums, “No Long Thing,” “Rundown,” and “The Entertainer.” Don Jazzy signed and produced music albums for other musicians under the record company. However, the two broke up in 2012 due to artistic differences, and the record label collapsed.
That same year, Don Jazzy founded another record label, Mavin Records. The label signed musicians such as Dr. SID, Ayra Starr, D’Prince, Korede Bello, Di’Ja, Johnny Drille, DNA Twins, Ladipoe, and Rema. Don Jazzy has signed even more popular Nigerian musicians to the record label, making him the most sought-after and one of the richest musicians in Nigeria.
5. Wizkid
Real name: Ayodeji Ibrahim Balogun
Net worth: $63.3 million
Wizkid is one of the most successful Nigerian artists. Ever since he started his musical journey in 2009, the 31-year-old musician has been consistent, releasing beautiful music and putting in serious efforts until he is ranked among the richest musicians in Nigeria now. Apart from being a performing artist, he is also a music writer who writes music for several local and international acts.
Wizkid began recording music at a tender age. At only 11 when he released an album that he recorded with some of his church friends. His first record deal was in 2009 when he was signed to Empire Mates Entertainment (EME). The label released his debut professional album dubbed “Superstar” in 2011. One song in the album, “Holla At Your Boy,” was well received and propelled him to the limelight.
In 2016, Wizkid went international when he recorded “One Dance” with Canadian rapper Drake. The song topped the charts at the US Billboard Hot 100. After his international success, Wizkid signed a record deal with the American record label RCA Records, where he released an album called “Sounds From The Other Side.”
6. Burna Boy
Real name: Damini Ebunoluwa Ogulu
Net worth: $40 million
Burna Boy is a famous Nigerian musician who was born on 2 July 1991 in Port Harcourt, Rivers State. His interest in music began at a young age when he used to make beats using FL Studio, a software that can be used to create musical beats and produce music. He released his first album, L.I.F.E, in 2013, which did well with 40,000 copies being sold on the first day of its release by Aristokrat Records, a record label he was signed to. The album features many prominent Nigerian musicians like Olamide, Wizkid, Timaya, 2face Idibia, and Reminisce.
Burna Boy is one of the richest musicians in Nigeria. Aside from the money he makes from his music sales and live performances, he is also a signatory to big-money endorsement deals with brands like Martel Cognac and Star Lager Beer.
7. 2baba
Real name: Innocent Idibia
Other Names: 2face Idibia
Net worth: $37 million
2baba is one of the earliest musicians in Nigeria to have his music appreciated by many fans throughout Africa. He was born in 1975 in Benue State. Apart from making music, he is also an entrepreneur, philanthropist, record producer, songwriter, and activist.
2baba’s music career started when he was in college, where he started composing and singing jingles. However, he dropped out of college to pursue what he enjoyed most, music. He adopted the stage name “2face Idibia,” which he used until 2016 when he changed it to his current stage name, “2baba.”
In 2004, 2Baba released the album, Face 2 Face. It did very well, selling millions of copies in Nigeria and Africa. One song that uplifted it was “African Queen,” which became a hit in Africa and was played a lot on the radio stations. In 2006, the song was used in the American comedy movie “Phat Girlz” as a soundtrack.
8. D’banj
Real name: Oladapo Daniel Oyebanjo
Other Names: Eja Nla, Bangalee, Mr. Endowed, The Kokomaster
Net worth: $30 million
D’banj is one of the richest musicians in Nigeria who first appeared in Nigeria’s music scene in 2005 when he released his first song, “Tongololo,” which became a hit. The song was produced by Don Jazzy, a friend he had met in London in 2001 when he was preparing to join university. He got famous and landed his first endorsement deal with an Energy Drink brand called Power Fist.
D’banj signed a record deal with Mo’ Hits records where he released his first album, “No Long Thing” in 2005 and his second, “Run Down Funk U Up” in 2007. He was signed to the American rapper, Kanye West’s record label, G.O.O.D music, in 2011.
9. Asa
Real name: Bukola Elemide
Net worth: $28.8 million
Asa is one of the richest musicians in Nigeria who was born in 1982 in France to Nigerian parents. After her birth, her parents returned to live in Lagos. However, Asa returned to France 18 years later, where her music career took off.
She released her first album, “Asa,” which did well in charts across Europe, Asia, and Africa. In 2008, she was voted the best fresh talent at the French Constantin Awards. She collaborated with the French composer, Nicolas Mollard, to release her second album, “Beautiful Imperfection” in 2010. The album was well received and went platinum in 2011.
10. Flavour
Real name: Chinedu Okoli
Net worth: $25 million
Flavour N’abania, or simply “Flavour,” is one of the most successful and one of the richest musicians in Nigeria. The 38-year-old artist started his music career at a young age when he became a regular drummer at his local church. He is now popular across Africa as some of his hits, such as “Nwa Baby (Ashawo Remix),” enjoyed monotony being played on radio across the continent.
Flavour released his first album called “N’abania” in 2005 but did not receive national recognition. However, his second album, “Uplifted,” broke the barriers and was well-received nationally. He released several other albums such as Blessed, Thankful, Ijeje-the traveller, and Flavour of Africa.
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