Top 10 richest Nigerian musicians (2023)

Top 10 richest Nigerian musicians
Written by Robin Okwanma

Top 10 richest Nigerian musicians

As one of the fastest-growing industries in the country, Nigeria’s music industry has been on a global streaming binge. Who is the richest musician in Nigeria? Some of the world’s most renowned musicians have come from this sector. Riding high on its pedestal of global acclaim, the Nigerian-inspired Afro Beats genre has had a lasting positive impact on how people view Africa and particularly Nigerian music.

This article will profile the top 10 richest Nigerian musicians, including their lifestyle preferences and Forbes-estimated net worth.

Also Read- Top 10 Most Powerful People in Nigeria 2023

Who is the Richest Musician in Nigeria?

1. Wizkid


Net worth: $30 million

On July 16, 1990, Ayodeji Ibrahim Balogun, better known by his stage name Wizkid, was born. He started his musical career at a very young age and is now well-known for his singing and songwriting. He became well-known after agreeing to a contract with the Empire Mates Entertainment (E.M.E), a label run by the musician Banky W.

Before leaving the company when his contract expired, he had hits like Holla At Your Boy and many others. Along with working with musicians like Drake and others, he has also received international fame. A Grammy Award under his belt, he is regarded as one of the top musicians in Nigeria and all of Africa. He is also one of the top 10 richest Nigerian musicians and beyond.

Wizkid’s House and Cars

Wizkid owns two luxurious mansions, one in Los Angeles, California, and the other in Surulere, Nigeria, each costing roughly N13 million. Wizkid’s automobile collections include the following:

  • BMW X6 crossover (₦8.7 million)
  • Porsche Panamera (~₦50.8 million)
  • Lamborghini Urus (₦80 million)
  • Used Mercedes Benz G63 AMG (₦55 million – ₦65 million)

2. Davido


Net worth: $29 million

David Adedeji Adeleke is better known by his stage name, Davido, and is the first Nigerian singer to have a song featured in a FIFA World Cup single. Born on November 21st, 1992. He is an American-Nigerian singer, composer, and record producer.

For his countless songs and studio albums, he has won and been nominated for many awards. He is renowned for his wealth and connections to wealthy relatives. Davido is regarded as a prominent hip-hop star with deals and recognition on the local and global levels. He is among the richest Nigerian musicians.

Davido’s Houses and Cars

Davido is noted for owning two opulent mansions, including his property in Banana Island, Lagos, which is estimated to cost.

  • Rolls Royce Cullinan 2019 (₦350 Million)
  • Bentley Bentayga (₦108 Million)
  • Bentley Continental GT (₦95 Million)
  • Range Rover SV Autobiography (₦98 Million)
  • Land Cruiser Toyota (₦30 Million)

According to estimates, David demands no less than $10 million for each performance. His music and endorsements are his main sources of revenue, contributing to his $40 million net worth.

Also Read- Top 10 Best Nigerian Actors (Old Generation)

3. Don Jazzy

Don Jazzy

Net worth: $20 million

Don Jazzy’s birthdate is November 1982. His real name is Michael Collins Ajereh. His country of origin is Nigeria, and he is also a vocalist. He is the CEO of the prestigious record label Marvin Records, which has a number of well-known musicians on it.

In partnership with D’Banj, he also launched Mo Hits. One of Nigeria’s most prominent music producers, Don Jazzy has signed artists like Wizkid, Tiwa Savage, and others at various points in their careers. Even though he participates more in music production, Don Jazzy is still among the richest Nigerian musicians.

Don Jazzy’s Houses and Cars.

  • 2016 Cadillac Escalade(N40 million)
  • Bentley Continental Flying Spur(N90 million-N120 million)
  • Range Rover Sports(67 Million -N80million)
  • Porsche 911 Carrera(N₦1.9million – ₦68million)

4. Burna Boy

Burna Boy

Net worth: $20 million

On July 2, 1991, Damini Ebunoluwa Ogulu was born. He is a singer, rapper, and music producer from Nigeria who is renowned for his distinctive blend of Afro, reggae, and pop music. His stage name, “BURNA BOY” is how most people know him.

He gained notoriety following the release of his single, “Like To Party,” which was named one of the biggest hits of 2012.

He signed with record companies in the United States of America like Warner Music Group and Bad Habit/Atlantic Records. The 63rd Annual Grammy Awards saw him win the Best World Music Album, becoming the first Nigerian to do so. Burna Boy is still among the richest Nigerian musicians, having released over six albums, a number of singles, and receiving endorsements and record deals.

Burna Boy’s Houses and Cars.

The “Kill dem” singer reportedly bought himself an eight-bedroom palatial property in Lagos’ Lekki neighborhood. The musician also owns a costly collection of vehicles, including;

  • Burna Boy Range Rover Autobiography(N26 million-N38 million)
  • 2022 Lamborghini Urus Novitec Edition( N332 Million)
  • Burna Boy 2013 Ferrari 458 Italia(N120 million)
  • Burna Boy Rolls-Royce Dawn Convertible(N125 million)

#Top 10 richest Nigerian musicians

5. Tuface Idibia


Net worth: $18 million

With an anticipated net worth of $18 million by 2022, Innocent Ujah Idibia, also known as 2Baba and 2Face, is the fifth-richest Nigerian musicians. 2Face, a native of Benue State, has established himself as one of Nigeria’s most renowned Afropop performers. He started out in the Plantashun Boiz group before going solo. The singer known as “African Queen” was a Kennis Music artist, and it was there that he launched his debut album.

He rose to fame in 2004 with the song “African Queen.” With subsequent singles like “Amaka,” “Oyi,” and others, 2Face has continued to leave his impact on the music business. Additionally, he has received 70 honors, including those from the MTV Music Awards, Headies, and BET Awards.

Tuface Houses and Cars

Ikeja, Festac, Lagos Island, and the US are just a few of the exotic homes that 2Face is pleased to call his own. The singer of “Amaka” does a great job of keeping his array of vehicles to himself.

Owners of the Ferrari Coupe, Toyota Land Cruiser, and Chevrolet Corvette Coupe include 2Face Idibia. The cost of the vehicles was (142 million – 177 million).

#Top 10 richest Nigerian musicians

6. Psquare


Networth: $16 million

Peter and Paul Okoye, also known as the Psquare, are among the wealthiest musicians in Nigeria with an estimated combined net worth of $16 million. The twin musicians gained prominence after founding their Psquare group. It’s nearly impossible to discuss Mr. P without mentioning the long-gone P-square. The identical Okoye twins are known professionally as “P-square.” They are both brothers who take pleasure in creating, composing, and performing music together.

The single “Senorita,” which was the biggest smash for P-first square, was followed by a run of additional hits that allowed them to gain recognition around the globe.

When talking about renowned members of the music industry, “Peter & Paul Okoye” cannot be neglected. The Psquare is ranked sixth among Nigeria’s top 10 richest Nigerian musicians with a net worth of $16 million.

Psquare Houses and Cars

Both Peter and Paul Okoye have a high number of luxirious cars and houses in Anambra, Lagos and even in the United States.

#Top 10 richest Nigerian musicians

Also Read- Top 10 Biggest Nigerian Bloggers 2022

7. Olamide


Net worth: $15 million

Olamide, also his stage name, is the shortened form of Olamide Gbenga Adedeji. On March 15, 1989, he was born. Rapper, singer, and music producer Olamide hails from Nigeria. In both Yoruba and English, the Nigerian hip-hop and rap star flawlessly conveys his musical skills. He is a seasoned performer with both national and international acclaim.

Under the Coded Tunes Record Label, he released his first studio album, Rapsodi, in 2011. With numerous songs, nominations, and awards to his name, he advanced in his profession. YBNL Nation, sometimes known as Yahoo boy no Laptop, is one of his best-selling track albums. Stupid Love, Voice of the Street, and other songs were included on the CD. In 2013 he signed an endorsement contract with Cîroc, making him the first Nigerian to do so. He is among Nigeria’s wealthiest musicians.

Olamide Houses and Cars.

In Lekki and Bariga, Lagos, Olamide is the owner of two magnificent homes. As well as luxury vehicles, his garage is stocked with:

  • Range Rover Sports (#15 million)
  • Mercedes-Benz G Wagon (~₦23 million)
  • Range Rover Sports V8 (₦84 million – ₦90 million)
  • Toyota Venza (#6 million)
  • Rolls-Royce Phantom (~₦204 million)

#Top 10 richest Nigerian musicians

8. Phyno


Net worth: $ 12 million

He was born on October 9th, 1986, as Chibuzor Nelson Azubuike, better known by his stage name, Phyno. Rapper, songwriter, vocalist, and record producer Phyno hails from Nigeria and has recently found himself in the public eye for all the right reasons. Beginning as a producer, the pop rapper began his musical career in 2003. He is a well-known rapper with impressive Igbo language rapping skills.

His first studio album, No Guts No Glory, was released in 2014. Hit songs from the album included Parcel, O Set, Ghost Mode, and Man of the Year. He has become known as one of the richest Nigerian musicians thanks to his numerous collaborations and hit songs with well-known music acts like Timaya, Me Raw, and M.I. Abaga.

Phyno’s Houses and Cars.

At Chevron Drive, he is the happy owner of a million-naira flat duplex. The three-bedroom residence reportedly cost around $170 million.

In his homeland of Enugu, Phyno is said to own a luxurious residence worth $70 million. He also has a variety of showy vehicles.

  • Bentley Continental GT(₦73.7 million)
  • Rolls Royce Phantom(₦170 million)
  • Toyota Avalon(₦13 million)
  • Range Rover sport(₦90 million)

9. Timaya


Net worth is $11.4million

Timaya, also referred to as “plantain boy,” was born on August 15, 1980, as Inetim Timaya Odom.

His $11.4 million net worth places him ninth among the richest musicians in Nigeria. Timaya got her start with ‘Dem Mama Soldiers,’ a band. ‘True Story’ was his 2007 album. Other notable singles including “Gift and Grace,” which was published in 2008, and De Rebirth, his third album, came soon after true Story.

Timaya, a 41-year-old CEO, partnered with King Perry to form the DM record label. The record label also included Runtown and Patoraking.

Timaya’s Houses and Cars

Timaya presently resides in a sumptuous Lekki, Lagos State, villa worth $250 million. The artist never misses an opportunity to brag, notably with his colorful Mercedes G-Wagons, which have previously gone viral on social media.

Timaya undoubtedly has an impressive collection of car items, including;

  • Mercedes-Benz GLE (₦20 million – ₦22 million)
  • Bentley Continental GT (~₦76 million)
  • Lexus LX570 2015 (₦29,000,000 – ₦39,000,000)
  • Mercedes-Benz G55 AMG (₦60 million – ₦85 million)

10. Asa


Net worth: $10.5million

With her first track, “Eye Adaba.” Nigerian/French musician Asa Bukola Elemide, as Asa, shot to fame.

From among 10 singers chosen by a panel of 19 music business professionals in Paris, her album “Asa” earned her the French Constantin Award in 2008.

In addition to being nominated for “Best R&B/Pop Album,” “Best Alternative Song,” “Best Vocal Performance (Female),” and “Best Recording of the Year” at the 2015 Headies, Asa has received a number of accolades.

Asa had a brief comeback in 2022 with the release of her new album “V” Asa maintains a low profile and has kept her business a secret, so nobody is aware of her homes or cars. Asa allegedly has a current net worth of $10.5 million.


The top 10 richest Nigerian musicians have been compiled using reliable information. Without a question, Nigeria’s wealthiest artists have made significant contributions to the development of the nation’s sound. As you may know, Nigerian music is varied, embracing both folk and mainstream styles. Let us know your thoughts using the comment section below. Cheers!


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About the author

Robin Okwanma

Hi, I'm Robin Okwanma. Software Engineer || Django, Python || React, React Native || Blogger. Technical Writer.