Top 10 Richest Musicians In Nigeria(2023)

List Of The Top 10 Richest Musicians In Nigeria(2023)

The music industry in Nigeria is undeniably vibrant and thriving, boasting numerous talented musicians who have achieved remarkable success and amassed significant wealth. In this article, we present the highly anticipated list of the top 10 richest musicians in Nigeria in 2023, along with their respective net worth. Brace yourself for an exciting journey through the world of Nigerian music and the impressive fortunes these artists have accumulated.

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  1. WizKid – Reigning as Nigeria’s Wealthiest Musician

Topping the list is WizKid, whose real name is Ayodeji Ibrahim Balogun. WizKid is a highly acclaimed Nigerian singer and songwriter who rose to fame in the early 2010s with his hit single “Holla at Your Boy.” Born in Lagos, Nigeria in 1990, WizKid’s musical journey began at a young age, catapulting him to widespread recognition with his debut single. Since then, he has consistently released successful albums and singles, such as “Superstar” (2011), “Ayo” (2014), and “Sounds from the Other Side” (2017). Collaborations with renowned artists like Drake, Chris Brown, and Skepta have further solidified his status as a major talent in the music industry. Notably, WizKid’s ventures into acting have also contributed to his immense wealth, making him the undisputed richest musician in Nigeria.

  1. Davido – A Phenomenon in Nigerian Music with Astounding Wealth

Following closely is Davido, born David Adeleke, a Nigerian singer, songwriter, and record producer. Born in Atlanta, Georgia, United States in 1992 and raised in Lagos, Nigeria, Davido is renowned for his Afrobeat-influenced pop music. Throughout his career, he has released a plethora of popular songs and albums that have garnered international acclaim. Notable milestones include the release of his album “A Good Time” in 2019, which spawned hit singles like “Risky,” “Blow My Mind,” and “Fall.” Additionally, collaborations with artists such as Chris Brown and Nicki Minaj have further propelled his success. Davido’s achievements, including winning the “Best International Act” award at the 2019 BET Awards and the “Best African Act” award at the 2020 MTV Europe Music Awards, have contributed significantly to his impressive net worth, solidifying his position among Nigeria’s richest musicians.

  1. Don Jazzy – A Pioneering Producer and Wealthy Musician

Don Jazzy, born Michael Collins Ajereh, is a Nigerian record producer, singer, and songwriter who has enjoyed a highly successful career in the music industry. With origins rooted in Lagos, Nigeria, Don Jazzy gained widespread recognition in the mid-2000s as a member of the Nigerian music group Mo’ Hits Records, which he co-founded alongside fellow musician D’banj. Boasting collaborations with high-profile artists like D’banj and Tiwa Savage, Don Jazzy’s production skills have contributed to the success of several albums and singles. In 2012, he founded the record label Mavin Records, signing talented artists and releasing critically acclaimed projects. Don Jazzy’s exceptional talent and influence as a producer have earned him numerous awards, including multiple “Producer of the Year” accolades at the Headies Awards. These achievements have significantly added to his wealth, solidifying his position as one of the richest musicians in Nigeria.

  1. 2Baba (2face Idibia) – A Legend’s Wealth and Influence

Another prominent figure on our list is 2Baba, formerly known as 2face Idibia, a Nigerian music legend who has made an indelible mark on the industry. Born Innocent Ujah Idibia in Jos, Nigeria, in 1975, 2Baba gained fame as a member of the defunct Nigerian music group Plantashun Boiz before launching a successful solo career. Known for his soulful voice and captivating stage presence, 2Baba has released several albums that have received widespread acclaim. Hits like “African Queen,” “Implication,” and “Only Me” have earned him international recognition and solidified his status as a Nigerian music icon. Beyond his musical endeavors, 2Baba’s entrepreneurial pursuits, endorsement deals, and humanitarian work have contributed significantly to his wealth and influence in the country’s music scene.

  1. Burna Boy – A Global Sensation with Unmatched Success

Burna Boy, whose real name is Damini Ebunoluwa Ogulu, is a Nigerian singer, songwriter, and Grammy award-winning artist. Born in Port Harcourt, Nigeria, in 1991, Burna Boy’s unique fusion of Afrobeat, reggae, and dancehall has garnered global attention and accolades. His breakthrough came with the release of his hit single “Like to Party” in 2012, followed by successful albums like “On a Spaceship” (2015) and “African Giant” (2019). The latter album earned him a nomination for the prestigious Grammy Award for “Best World Music Album” in 2020, which he ultimately won with his album “Twice as Tall” in 2021. Burna Boy’s international collaborations and performances, including his feature on the hit song “Jerusalema” by Master KG, have propelled his career to greater heights. As a result, his net worth has soared, firmly establishing him as one of Nigeria’s wealthiest musicians.

  1. Olamide – The Street’s Finest with a Flourishing Bank Account

Olamide Adedeji, popularly known as Olamide, is a Nigerian rapper, singer, and songwriter who has carved a niche for himself in the music industry. Born and raised in Bariga, Lagos, Nigeria, Olamide gained prominence with his debut album “Rapsodi” in 2011, which produced hit singles like “Eni Duro” and “Omo To Shan.” Over the years, he has released numerous successful albums, including “Baddest Guy Ever Liveth” (2013), “Street OT” (2014), and “Carpe Diem” (2020). Known for his street-oriented lyrics and energetic performances, Olamide has amassed a loyal fanbase and achieved significant commercial success. His record label, YBNL Nation, has also propelled the careers of several talented artists. With lucrative endorsement deals and a flourishing bank account, Olamide secures a place among the richest musicians in Nigeria.

  1. Phyno – An Indigenous Rapper with Impressive Wealth

Chibuzor Nelson Azubuike, popularly known as Phyno, is a Nigerian indigenous rapper, singer, and songwriter. Hailing from Enugu, Nigeria, Phyno rose to prominence with his unique blend of Igbo rap and contemporary hip-hop. His debut studio album, “No Guts No Glory” (2014), featured hit tracks like “Ghost Mode” and “Man of the Year,” which solidified his position in the music industry. Subsequent albums, including “Playmaker” (2016) and “Deal with It” (2019), further showcased Phyno’s lyrical prowess and creativity. Notably, Phyno’s collaborations with both Nigerian and international artists have expanded his reach and boosted his wealth. With endorsement deals, concert performances, and a successful record label named Penthauze Music, Phyno continues to accumulate wealth, making him one of Nigeria’s richest musicians.

  1. Tiwa Savage – The Queen of Nigerian Music with Wealth to Match

Tiwa Savage, born Tiwatope Savage, is a Nigerian singer, songwriter, and actress who has achieved remarkable success in the music industry. Born in Isale Eko, Lagos, Nigeria, in 1980, Tiwa Savage kick-started her career as a backup vocalist for various artists before venturing into songwriting and performing. Her debut single, “Kele Kele Love” (2010), marked the beginning of a prosperous journey. Tiwa Savage’s powerful vocals and captivating stage presence have earned her numerous accolades, including the “Best Female Artist” award at the MTV Africa Music Awards. Collaborations with international artists like Beyoncé and her signing to Jay-Z’s record label, Roc Nation, have further elevated her status. Tiwa Savage’s impressive net worth and entrepreneurial endeavors, including her fashion line and endorsement deals, cement her position among Nigeria’s wealthiest musicians.

  1. Yemi Alade – A Nigerian Songstress with International Appeal

Yemi Eberechi Alade, known professionally as Yemi Alade, is a Nigerian Afropop singer and songwriter. Born in Abia State, Nigeria, in 1989, Yemi Alade gained recognition after winning the Peak Talent Show in 2009. Her hit single “Johnny” in 2013 became a continental anthem, propelling her to stardom. Yemi Alade’s energetic performances and unique fashion sense have endeared her to fans both in Nigeria and beyond. Her albums, including “King of Queens” (2014), “Mama Africa” (2016), and “Woman of Steel” (2019), have garnered critical acclaim and commercial success. Yemi Alade’s international collaborations, particularly with artists from Francophone Africa, have expanded her reach and contributed to her growing wealth. With endorsement deals, concert tours, and an undeniable talent, Yemi Alade secures her place among Nigeria’s richest musicians.

  1. Banky W – A Multifaceted Talent and Astute Businessman

Rounding off our list is Olubankole Wellington, popularly known as Banky W, a Nigerian singer, songwriter, and actor. Born in the United States to Nigerian parents, Banky W relocated to Nigeria at a young age and made a significant impact on the music scene. With his smooth R&B vocals and songwriting skills, Banky W released successful albums like “Back in the Building” (2005) and “Mr. Capable” (2008). Beyond his music career, Banky W has ventured into acting, featuring in notable Nigerian films like “The Wedding Party” series. Additionally, he is recognized for his entrepreneurial endeavors, particularly as the founder of the record label Empire Mates Entertainment (EME). Banky W’s business ventures, endorsement deals, and music royalties have contributed to his wealth, securing his place among Nigeria’s richest musicians.


The Nigerian music industry continues to produce exceptional talents who have not only captivated audiences but also amassed significant wealth. The top 10 richest musicians in Nigeria in 2023, including WizKid, Davido, Don Jazzy, 2Baba, Burna Boy, Olamide, Phyno, Tiwa Savage, Yemi Alade, and Banky W, have each left an indelible mark on the industry and continue to thrive financially. Their impressive net worths are a testament to their exceptional musical talents, business acumen, and undeniable influence in the Nigerian music scene. As the industry evolves, these musicians serve as role models and sources of inspiration for aspiring artists, showcasing the immense possibilities that await those who dare to dream and pursue their passion.

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