Top 10 Richest Musicians in Nigeria 2023 Latest!

Who are the richest musicians in Nigeria? Today is another day to find out how rich your favorite Nigerian musician is.

The Nigerian music industry is one of the best in Africa; in fact, some say it is the best.

The progress Nigerian musicians are making in their music careers has been attracting several endorsement deals at both local and international levels.

Not only that, people tend to even pay more to purchase their albums and attend their shows.

All these have been making Nigerian musicians richer and richer, although some backs it up with some personal investments to boost their wealth.

All these put together is why we are making a list to know who the richest musicians in Nigeria are.

How about this quick question, who is richer between Davido and Wizkid? This has been a serious debate between majority of Davido <FC> Fans and Wizkid <FC> Fans, but today would definitely settle it.

How about checking out the latest list of the top 10 richest musicians in Nigeria which we have for you below.

Related: Top 10 Richest Nigerian Footballers and Their Net Worth

List of Top 10 Richest Musicians in Nigeria

  • Wizkid – Net worth ($21 Million).
  • Davido – Net worth ($20 Million).
  • Don Jazzy – Net worth ($18.5 Million).
  • Burna Boy – Net worth ($17 Million).
  • 2Face (2baba) – Net worth ($16 Million).
  • Olamide – Net worth ($12 Million).
  • D’banj – Net worth ($11.1 Million).
  • Phyno – Net worth ($11 Million).
  • Timaya – Net worth – ($10.5 Million).
  • Rhude Boy (P-square) – Net worth ($10.2 Million).

I hope you’ve seen above the list arrangement of the richest musicians in Nigeria for the year 2023.

Now let’s check out the necessary details of these 10 richest Nigerian musicians below.

1. Wizkid – Net worth ($21 Million).

richest musician in nigeria -wizkid

Wizkid, also called Big Wiz or Machala is the richest musician in Nigeria with an estimated net worth of $21 million.

Big wiz is not only the richest Nigerian musician, he is also one of the best musicians in Nigeria.

Wizkid’s real name is Ayodeji Ibrahim Balogun while he goes by the stage name Wizkid. He was born on July 16, 1990 in Surulere, Lagos State, Nigeria.

He attended IJebu Ode grammar school located in Ogun State for his secondary school education.

Wizkid also studied at Lagos State University and Lead City University before he dropped out completely to pursue his dreams in the music industry.

He became popular following the release of his first single titled “Holla at Your Boy” in 2010. At that time he had just been recently signed into E.M.E Record Label by Banky W.

In 2011, Wizkid released his first debut album titled “Superstar” and that really began his successful journey in the Nigerian music industry.

He currently has his own record label called Star Boy Entertainment, which he founded in 2013.

Wizkid has also produced hit songs with several Nigerian and international music artistes like Drake, Beyoncé, Justin Bieber, Olamide, Banky W, Tiwa Savage and many others.

Big Wiz is one of few Nigerian Artistes to receive a Grammy Award. He won a Grammy for the “Brown Skin Girl” Corroboration song with Beyoncé.

That day was a joyous one for Nigerian music lovers because Burna boy also won a Grammy the same day Wizkid got one.

So far, Wizkid has gained a lot of achievements in the Nigerian Music Industry and some of his awards include 3 BET Awards, 2 Billboard Awards, 4 MOBO Awards, 1 Grammy Award and more.

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2. Davido – Net worth ($20 Million).

one of the richest musicians in nigeria - davido

David Adedeji Adeleke who goes by the stage name Davido is the 2nd richest Nigerian musician on our list of the richest musicians in Nigeria 2023.

Davido has dual citizenship in both Nigeria and United States of America. He was born on November 21, 1992, in Georgia, United States of America.

He is a singer, record producer, and songwriter. The kinds of music genres Davido specializes in are; afro beats, R&B, afro-pop music, electro-pop, dancehall, pop, and reggae.

Davido’s father, Adeleke Adedeji is a businessman and a very wealthy man. Adeleke Adedeji is the founder of Adeleke University.

O.B.O, meaning Omo Baba Olowo is popularly known to be one of Davido’s other stage names.

He attended Oakwood University in USA where he studied Business Administration before he dropped out.

But when he got to Nigeria, he eventually enrolled for a degree in Music and graduated from Babcock University.

Davido’s successful journey in the Nigerian music industry began following the release of “Dami Duro” and since then he has been gaining a lot of fans.

Some of the other hit songs released by Davido include; Assurance, Aye, Skelewu, Fall, If, Jowo, Fans Mi, Collest Kid in Africa, and others.

Davido has also won quite a lot of awards including MTV Europe Music Awards, BET Awards, MTV Africa Music Awards, MOBO Awards, Nigeria Entertainment Awards, and several other awards.

O.B.O’s net worth is estimated to be $20 million in 2023, making him one of the richest musicians in Nigeria.

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3. Don Jazzy – Net worth ($18.5 Million).

wealthiest musicians in Nigeria

Don Jazzy is one of the richest Musicians in Nigeria with an estimated net worth of $18.5 million.

His real name is Michael Collins Ajereh but goes by the studio name Don Jazzy.

Don Jazzy is the CEO of Marvin Records and as well the founder. He works as a record producer, singer, audio engineer, and a songwriter in Nigeria.

As seen by a lot of people, he is portrayed as a philanthropist and a business man.

Don Jazzy was born on November 26, 1982 in Umuahia, Abia State, Nigeria.

He was married to Michelle Jackson in 2003 but divorced in 2005 because of some certain reasons.

Don Jazzy attended Federal Government College, Lagos for his secondary school education and studied Business Management at Ambrose Alli University, Edo State, Nigeria.

Have you heard of Mo’ Hits Records? Don Jazzy co-founded “Mo’ Hits Records” with another popular musician named D’banj.

Don Jazzy has been successful with his music career and business over years and his Record Label has produced several talented artistes in Nigeria.

Some of the Nigerian Artistes that got their fame through Don Jazzy’s Record Label include; Korede Bello, Wande Coal, Buna boy, Tiwa Savage, Ayra Starr, Rema and many others.

4. Burna Boy – Net worth ($17 Million).

wealthiest musicians in Nigeria

The 4th on this list of richest musicians in Nigeria is Burna Boy. He has an estimated net of $17 million.

Burna boy’s real name is Damini Ebuoluwa Ogulu but goes by the stage name Burna boy.

He is a Nigerian musician, singer, rapper, dancer and a song writer.

Burna Boy was born on July 2, 1991 in Port Harcourt, Rivers State, Nigeria.

Damini Ebuoluwa Ogulu completed his secondary education in Corona Secondary School, located in Ogun State, Nigeria. He also attended University of Sussex for his tertiary education in pursue for a Degree in Media Technology.

He has performed with several popular music artistes like Wizkid, Ed Sheeran, Chris Martin, Sam Smith, Jon Bellion, Jorja Smith, and Beyoncé.

Burna boy got famous in 2012 after releasing “Like to Party”, which was also included in his Debut album called “L.I.F.E”.

The Genres Buna boy actively involves in Include; afro-fusion, afro beats, Pop, R&B, dancehall and hip-hop.

Burna boy’s fourth album titled “African Giant” was released in 2019 and it won the album of the Year during the All Africa Music Awards.

Another Album released in 2020 by Burna Boy, titled “Twice as Tall” was also a big success and attracted a Grammy Award.

Burna Boy has engaged in a lot of endorsement deals with companies like Pepsi, Star, and others.

As at 2023, Burna boy’s estimated net worth is roughly $17 million, making him one of the richest musicians in Nigeria.

Also, some of Burna Boy’s notable awards Include; Grammy Award, MTV Europe Music Award, The Headies Award, Bet Award, and much more.

SEE: The top 10 richest Igbo Men in Nigeria.

5. 2Face (2baba) – Net worth ($16 Million).

one of the wealthiest musicians in Nigeria - 2baba

2Face Idibia, also called 2baba is the 5th richest musician in Nigeria.

2baba’s real name is Innocent Ujah Idibia, while his stage name used to be “2Face” also called “Tuface” but recently changed his name to 2baba.

Innocent Ujah Idibia was born on September 18, 1975 in Jos, Nigeria.

He attended completed his secondary school education at Mount Saint Gabriel’s Secondary School, located in Makurdi city, Benue State.

For his diploma course, 2face studied Business Administration and Management in IMT, Enugu State.

He dropped out later on to focus on his career in music and today, he is one of the successful and richest Nigerian Musicians.

2baba is the Chairman and founder of Hypertek Digital which was established in 2013.

He is a Nigerian singer, songwriter, record producer, philanthropist and a business person.

The genres 2baba specializes in are mostly; R&B, afro beats, hip-pop, gospel, afro pop and reggae.

2baba got a huge rise to fame in Nigeria and at international level, when he released a single titled “African Queen”. Since then, 2face/2baba has been greatly respected in the Nigerian music industry.

2baba’s net worth has been estimated to be $16 million and he is one of the richest musicians in Nigeria.

Some of 2baba’s awards include; 1 MTV Europe Music Award, 5 Headies Awards, 1 Bet Award, 1 MOBO Award, 1 World Music Award and much more.

6. Olamide – Net worth ($12 Million).

One of the richest singers in Nigeria

Olamide’s complete name is Olamide Gbenga Adedeji. He is a Nigerian Singer, rapper and songwriter. Olamide is one of the richest musicians in Nigeria.

He has a net worth estimated to be $12 million. Olamide was born on March 15, 1989 in Bariga, Lagos State, Nigeria.

Olamide attended Tai Solarin University where he studied Mass Communication for a while before dropping out, due to some financial issues.

He has two other silblings, which one of them is the DJ of YBNL and commonly known as DJ Enimoney.

Olamide is the founder of YBNL record label which was established in 2012. YBNL full meaning is Yahoo Boy No Laptop.

The kinds of music genre Olamide specializes in are; Hip pop and Afro beats.

Olamide has also corroborated with the likes of Wizkid, Davido, Lil Kesh, Naira Marley, and Reminisce and so on in producing hit songs so far.

He started releasing his songs in 2010 and he rose to fame real fast after releasing his first few albums like “Rapsodi”, “YBNL” and “Baddest Guy Ever Liveth”.

Some of his popular songs in no particular order include; Eni Duro, Voice of the Street, Bobo, Story for the Gods, Loading, Goons Mi, Motigbana, Who you Epp, Duro Soke, etc.

Olamide has been honored with several awards like The Headies Awards, Nigerian Entertainment Awards, City People Entertainment Awards and other awards.

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 7. D’banj – Net Worth ($11.1 Million).

wealthy musicians in Nigeria - d'banj

Another popular Nigerian musician that has dropped a lot of hit songs in the Nigerian music industry is D’banj.

D’banj is among the richest Nigerian Musicians with an estimated net worth of $11.1 million.

His real name is Oladapo Daniel Oyebanjo but goes by the stage name D’banj.

D’banj is a singer, rapper, song writer, lawyer and a businessman. He is happily married to Lineo Didi Kilgrow.

He is the Co-founder of Mo’ Hits Record Label along with Don Jazzy, another famous musician in Nigeria.

Oladapo Daniel Oyebanjo, A.K.A. D’banj was born on June 9, 1980 in Zaria, Kaduna State, Nigeria.

D’banj attended Lagos State University, Nigeria where he studied Mechanical Engineering for some time but eventually dropped out to focus on his music career.

One of his greatest hit songs that got so much fame, even internationally was his 2011-2012 released song titled “Oliver Twist”.

This particular song was seen on the 2nd position in 2012’s UK R&B Chart. Not only that, it was the No.1 on the African Charts in 2011.

D’banj has made several endorsements with multi-millionaire companies and industries which has triggered his wealth beautifully.

Some of the big companies he has endorsed with include; Globacom, Beats by Dre, Heritage Bank and many others. No wonder he is one of the richest musicians in Nigeria.

D’banj has won 4 Headies Awards, 2 MTV Europe Music Awards, 4 MTV Africa Music Awards, 1 BET Award, 3 Nigerian Entertainment Awards and many more awards.

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8. Phyno – Net worth ($11 Million).

rich music artists in Nigeria

Chibuzor Nelson Azubuike known for the stage Phyno or Phyno Fino is the 8th richest Nigerian musician on this list of 10 richest musicians in Nigeria.

He is a Nigerian Singer, rapper, record producer and a songwriter. Phyno is better known in Nigeria as an Igbo rapper.

Phyno Fino was born on October 9, 1986 in Anambra State, Nigeria.

His friend from high school gave him his stage name phyno from the phenomenal vocabulary.

Phyno attended Institute of Management Technology (IMT) in Enugu state where he studied Public Administration.

He started his music career in 2003 and so far, he has been associated with Sputnet and Penthauze record labels towards his music production.

Phyno Fino has also produced nice songs with other popular Nigerian Musicians like Olamide, Davido, Wizkid, Flavour, Timaya, Falz, and so on.

The kinds of music genres Phyno specializes in, are Igbo rap and Hip-pop.

So far, since Phyno started releasing his singles and debut albums, Phyno has been honored with 3 Headies Awards, 1 Nigerian Entertainment Award, and 1 City People Entertainment Award.

Phyno’s net worth is currently estimated at $11 million, making him one of the richest musicians in Nigeria.

9. Timaya – Net worth ($10.5 Million).

richest singers in Nigeria

Inetimi Timaya Odon popularly known as Timaya is a Nigerian music genius.

Timaya is the CEO and the founder of the Record Label called DM Records Limited, a music enterprise in Nigeria.

He was born on August 15, 1980 in Port Harcourt city, River States, Nigeria.

Out of 15 siblings, he is the youngest of them all. Timaya’s father was a Nigerian banker while his mother was a trader.

Inetimi Timaya Odon completed his secondary school education at Lagos Ikeja Grammar School. Also, for tertiary education, he studied Banking and Finance.

Timaya is a singer and a Nigerian songwriter. His net worth is $10.5 million, making him one of the richest musicians in Nigeria.

He started his music career on 2005 and released his first song that same year.

Timaya released his first album titled “True Story” in 2006 and his second album in 2008 titled “Gift and Grace”.

He specializes in the following kinds of Genres; hip-pop, dancehall, afro beats, raga, and more.

Timaya Odon released an album in 2012 titled “Upgrade” which really hit the Nigerian music industry. Two of the popular songs found in the album include “Sexy ladies” and “Bum Bum”.

So far, Timaya has won up to 4 Headies Awards, 1 Nigerian Music Award, 2 AFRIMMA Awards, and more.

10. Rude Boy (P-square) – Net worth ($10.2 Million).

richest musicians in Nigeria

The last on our list of the 10 richest musicians in Nigeria is Rude Boy with an estimated net worth of $10.2 million.

P-square over the years has been widely known for the twin brothers with the names Peter and Paul, but only Paul would be on the list for today.

Paul Okoye goes by the stage name Rude Boy and is sometimes called King Rudy.

Paul Okoye (Rude Boy) was born on November 18, 1981, in Jos, Nigeria.

Rude Boy is a Nigerian singer, dancer, record producer, and songwriter.

He became popular right when he was still in corroboration with his twin brother, forming the P-square duo.

Rude Boy is the founder of the record label with the name “Fire Department Inc”.

Rude Boy has won several Awards alongside his brother while he was in the P-square duo and some of these awards include; 5 Headies Awards, 7 Nigerian Music Awards, 4 MTV Africa Awards, 3 BET Awards and so much more.

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Is Davido Richer than Wizkid?

As seen in the list of the richest musicians in Nigeria 2023, Davido has an estimated net worth of $20 million While wizkid has an estimated net worth of $21 million, Wizkid appears to be $1 million richer than Davido.

So here you have your answer, Wizkid is richer than Davido, with about $1 million.

Conclusion – Richest Musicians in Nigeria 2023

There above you have our list of the top 10 richest musicians in Nigeria 2023.

You need to understand that this list was deeply researched and the conclusion was made based on the estimated worth of their property and not the cash at hand.

So did your best Nigerian Music artist make it to the list of the 10 richest musicians in Nigeria? Kindly let us know in the comment box.

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