Want to discover the top 10 Richest artists in Nigeria?
Believe it or not, the Nigerian music industry is the biggest in Africa as a whole.
Today, there are so many Nigerian artists who are well recognized in the International music scene.
Now, if you are a real music lover, then it is of a high probability that you have searched for lists like this online.
This kind of list often allows us to know the current movement of the wealth of our favorite artists.
They also allow us to estimate the amount of money they make from their concerts and more.
So, without wasting any more time, let us go through the most modern list of the top 10 Richest artists in Nigeria.
Top 10 Richest Artists In Nigeria
Here are the top 10 richest artists in Nigeria as of 2021
10. Mr P (Net worth: $10 Million)
Peter Okoye who goes by the stage name Mr. P is a Nigerian musician, dancer, and songwriter.
Just like his twin Paul Okoye, he was born on the 18th of November 1981.
He is the elder twin of the defunct P-Square group.
Today, he is a solo artist with the stage name Mr P.
As a solo act, he has managed to drop a few singles, but just like his twin brother Rudeboy, he is yet to drop an EP or an album.
Mr P also began his profrssional Music career with the P-Square group.
Though they were members of a few other musical groups prior to the P-Square days, those groups all experienced some sort of setbacks.
As P-Square, they were shot into the limelight in the music industry.
They won several local and international awards and were even ranked as the best music group in Africa.
Despite their success together, the twins experienced some disagreements and decided to later separate.
Today, they are both solo artists in the Nigerian music industry.
Mr P’s Net worth
Mr. P is currently said to worth a whopping $10 Million dollars, thus earning him this position as the 10th richest artist in Nigeria.
9. Timaya (Net worth: $10.5 Million)
Timaya who goes by the real name Inetimi Alfred Odom is a Nigerian musician and songwriter who was born in August 1980.
The singer is said to be originally from Bayelsa state, Nigeria.
Through the years, Timaya has climbed up the scale in the industry, that he is now considered as the dance hall king of Africa.
Timaya actually started his music career with the group Dem Mama Soldiers.
It was through this platform that he started his professional music career.
Before actually hitting the spotlight, Timaya started as a backup singer to major musicians.
After so much struggle in the industry, he stated his own career fully in 2005.
This was when he dropped his big hit ‘True Story’.
Ever since, Timaya has been on top of the Nigerian music industry.
Today, he is the founder of the famous Dem Mama Records.
Through the years, his record label has signed so many notable artists like Runtown, Patoranking, and King Perry.
Timaya’s Net worth
Currently, Timaya is estimated to worth $10.5 Million dollars.
8. Rude Boy (Net worth: $11 Million)
Rudeboy who goes by the real name Paul Okoye is a Nigerian singer and songwriter who was born in November 1981.
He is actually the younger twin of the defunct music group ‘P-Square’.
As a solo artist, Rudeboybhas dropped several hit singles which have ranked high in music charts across the nation.
Rudeboy actually came into the limelight alongside his brother Peter Okoye (aka Mr P).
They were both members of the defunct P-Square group.
Through the years, they bagged so many awards together, and gained a very huge fan base across Africa.
However, due to some controversies, they have recently seperated and started their individual music careers as solo acts.
Rudeboy’s Net worth
With a current networth estimated to be about $11 Million dollars, Rudeboy sits on this position as the 8th richest artist in Nigeria.
7. Phyno (Net Worth: $11 Million)
Chibuzor Nelson Azubuike (aka Phyno) is a Nigerian musician, rapper and record producer who was born in October 1986.
He is a very talented rapper, and his is the founder of Penthause Music.
He is Bachelors Degree holder in Public Administration.
Phyno disclosed in an interview that through his life, he has had several aspirations like becoming a doctor, and then later on he thought of becoming a pilot.
Today, he ended up as a musician.
Not just a musician, but a very successful musicians.
Phyno started his music career in 2003 before moving to the city of Lagos to further pursue his ambitions.
All through the years, he has carried out several production works for major artists like Flavour, Timaya, and so many others.
For his creativity in the industry, he has won several awards and nominations.
Just like Olamide, Phyno often sings his lines in his local dialect.
This has earned him a very large fan base in the eastern region of the country.
Phyno’s Net worth
Currently, Phyno is estimated to worth $11 Million dollars, thus his position as the 7th richest artist in Nigeria.
6. Olamide (Net worth: $12 Million)
Olamide Adedeji (aka Olamide or Baddo) is a Nigerian singer and music producer who was born in March 1989.
He was born in Bariga, Lagos state, Nigeria.
Over the years, he has grown to become the father of modern street music in Nigeria.
All through his songs, he either sings in his local Yoruba dialect, or in the Nigerian Pidgin English.
He is one of the artists with the biggest fan base within the country.
As a young act, Olamide started his music career under the Coded Tunes Label.
Today, he owns his own record label which is called YBNL Nation.
This label is responsible for the musical popularity of musicians like Lil Kesh, Adekunle Gold, and more recently, Fireboy.
Olamide’s Net worth
As we speak, the veteran musician and rapper ‘Olamide’ is said to worth a whopping $12 Million dollars.
5. 2Face Idibia (Net worth: $16.9 Million)
Tuface Idibia is a Nigerian musician and songwriter who goes by the birth name Innocent Idibia.
He was born on the 16th of September in Jos, Plateau State, Nigeria.
Though he was born in Plateau State, 2face is originally an indigene of Benue State, Nigeria.
Today, he is arguably one of the modern Nigerian musicians who is considered to be a legend already.
Tuface actually started his music career with the music group called Plantashun Boiz.
After operating as a group for a while, they separated, and the group disbanded.
Tuface then went on as a solo act in the music industry, and later found fame
During the early days of his music career, he was signed as an artist under the famous Kennis Music.
It was under Kennis Music that he dropped several hits which shot him into the limelight.
The album titled ‘African Queen’ which he dropped while in Kennis Music is actually one of his greatest albums ever.
The albu shot him to global fame.
Ever since, 2face has remained at the top of the Nigerian music industry.
Over the years, he has bagged numerous International Awards and nominations.
2face’s Net worth
2face is currently estimated to worth $16.9 Million dollars, making him the fifth richest musician in this list.
4. Burna Boy (Net Worth: $17 Million)
Burna Boy goes by the real name Damiani Ebunoluwa Ogulu.
He is a Nigerian musician and dancer who was born and bred in Port Harcourt, Nigeria.
Although he was born in Port Harcourt, he is said to be an indigene of Mbiama.
This is a local town located in Ahoada West Local Government Area of Rivers state.
After his parent moved to Lagos from Port Harcourt, Burna Boy was exposed to several opportunities which actually helped in boosting his career.
A lot of people do not know this, but Burna Boy schooled in the United Kingdom.
He is a graduate of Media Communications from the Oxford Brookes University (Not to be mistaken for Oxford University).
Burna Boy really shot into the Nigerian music scene with his debut album titled LIFE.
This album contained the hit single ‘Like To Party’, which also boosted his popularity in the Nigerian Music Industry.
He released this album in 2013, and it was a big project which featured several superstar acts like Timaya, Wizkid, Olamide, and many others.
This album was released under the Aristocrat Records.
The following year after the release of his first album, Burna Boy ledt the Aristocrat Records.
After leaving the Aristocrat Records, he established his own label which he named ‘Spaceship Entertainment’.
After creating his own label, he released his second album called On a Spaceship.
Over the years, he has continued to climb up the scale in the music industry.
His most recent albums titled African Giant (2019) and Twice As Tall (2020) all bagged Grammy Nominations.
The later is yet to be announced, so we do not know if he might actually turn out to be a Grammy Winner.
This actually made him the only Nigerian artist to receive a back to back nomination in the Grammy Awards.
Today, Burna Boy is one of the most recognized Nigerian musician in the International scene.
Burna Boy’s Net worth
Burna Boy is currently said to worth $17 Million dollars.
This earns him this position in this list of richest artists in Nigeria.
3. Don Jazzy (Net Worth: $18 Million)
Don Jazzy who goes by the real name Collins Michael Ajereh is a Nigerian singer, composer, and record producer.
He was born in November 1982.
Don Jazzy is a very famous musician in Nigeria, and there is hardly any music fan in the country who doesn’t know him.
He is the CEO of Marvins Records.
This is the record which consisted major acts like Tiwa Savage, D’Prince, Dr. SID, Koreado Bello, Reekado Banks, and Dija.
Today acts like Tiwa Savage and Reekado Banks are no longer part of this label.
The most recent signing of this label is the popular kid called Rema.
Don Jazzy is a very talented singer whose creativity in the industry has taken him very far.
He actually started his music career in Nigeria with the Mo’Hits Records which he created alongside D’Banj whom he actually met in the UK.
As a Record label, they dropped several hit songs before they disbanded in 2012.
A while after the duo separated, Don Jazzy created Marvin’s Records.
Today, he is one of the richest and most respected musicians in the country.
Don Jazzy’s Net worth
Don Jazzy is currently estimated to worth $18.5 Million, thus his position as the third richest artist in this list.
2. Davido (Networth: $19 Million)
The second artist on this list is none other than the popular Davido.
Davido goes by the real name David Adedeji Tajudeen Adeleke.
He is an American-born Nigerian musician and songwriter.
Davido was actually born in Atlanta, Georgia, USA.
His father is a famous Nigerian billionaire.
He is the founder and chairman of Pacific Hdings Limited.
Through the years, David has sign so many multi-million-dollar deals with major companies like MTN, Guinness Nigeria, Infinix Mobile, and many more.
While in school in the United States of America, Davido developed deep interest in music, and decided to start recording songs with a guy who shared the same building with him.
After he fully focused on music, he soon left his studies and started attending shows and musical events.
A while later, he traveled to London to further pursue his musical dreams.
On his return to Nigeria, his father objected to his decision, and fought against his musical career at first.
During this period, Mr Adeleke often trailed David with the authorities, and he even once arrested him while he was to perform in a music concert.
A while after the whole issue, they came into a cordial understanding, and Davido was enrolled in Babcock University to study Music.
This university had no Music department, but his dad paid the university to build one for his son.
This was said to worth millions of Naira.
Davido was actually shot into the limelight with the hit single titled Dami Duro.
The song was released in 2011, and this was when he became a full fledged Nigerian musician.
David’s Net worth
Currently, Davido is said to worth about $19 Million dollars, making him the second richest artist in the country.
1. Wizkid (Net worth: $20 Million)
In first place on the list of Richest artists in Nigeria, we have Wizkid.
Wizkid is a Nigerian musician who goes by the real name Ayodeji Balogun Ibrahim.
He is a Nigerian singer and music composer.
Currently, he is said to be one of the richest musicians in Africa as a whole.
Though Wizkid is a musician, he makes so much money from other sources.
Some of them are through endorsement deals and more.
Over the years, he has bagged so many endorsement deals from major companies across the world.
Some of them are Glo, Pepsi, The American Vodka company Ciroc, Tecno UBA, and many more.
His most recent endorsement deal is that of UBA.
This deal is said to worth about $3 Million dollars.
Though Wizkid is arguably the biggest music star in Nigeria, he started small during the humble beginning.
He started his career while he was still a very young kid.
While he was just 11 years old, he joined a church music group, and together they released a debut album.
Before using the stage name Wizkid, he used to go by the name Lil Prinz.
While he was still a struggling kid with deep love for music, he met OJB Jezreel.
OKB later became his mentor.
According to Wizkid, he used to listen and carefully learn from the studio sessions of major artists like 2face and a host of others.
After so much struggle and exprience, Wizkid was discovered by Banky W.
He was then later signed into Banky W’s Empire Mates Entertainment (popularly known as EME).
This was in 2009,and it was when Wizkid really began his professional music career.
Over the years, Wizkid dropped several hits under the EME Records, and later established his own label which he named Starboy Records.
Today, he is said to be the richest musician in Nigeria.
Wizkid’s Net worth
As of today, the singer Wizkid is currently estimated to worth about $20 Million.
This makes him the lead on the richest artists in Nigeria.
Summary of ‘Top 10 Richest Artists In Nigeria’
So far, these are the top 10 richest artists in Nigeria.
They are all very popular, and they have all worked tirelessly to bring the Nigerian music industry to the international scene.
Feel free to drop your comments about these artists in the comments session below.
In all, have a nice day!