Want to find out who the richest musicians in Nigeria are?
If you are a music lover, then the odds are, you will love to know things like this.
‘Who is the richest musician in Nigeria?’
As a matter of fact, this question is asked by almost every music lover.
Today, there are so many talented musicians in Nigeria.
These guys are all making the nation proud with their craft.
However, in this article, we are going to go through the top 10 richest musicians in Nigeria.
These are famous artists, and they are well known all over the country.
So, music lovers!
Let us get down to business.
Top 10 Richest Musicians In Nigeria 2020
Here are the richest musicians in Nigeria and their Net Worth as of 2020.
10. Mr. P – Net worth: $10 Million
Peter Okoye (aka Mr. P) is a Nigerian Singer, songwriter, and dancer who hails from Eastern Nigeria.
Just like his twin brother Paul, he was born on the 18th of November 1981.
He is the elder twin of the former P-Square group.
As a Group, they won several awards both within and outside the country.
Today, they have separated, and they now pursue solo careers in the music industry.
With a current net worth of $10 Million, Mr. P is one of the richest musicians in Nigeria today.
9. Timaya – Net worth: $10.5 Million
Inetimi Alfred Odom (aka Timaya) is a Nigerian singer and songwriter who was born on the 15th of August 1980.
However, he started his career in the music industry when he started the group called ‘Dem Mama Soldiers’.
He used this platform to kick start his career in the industry and currently said to be the king of dancehall music in Africa.
During his early days, he started out as a backup singer to musicians.
After some early struggles, Timaya started his own musical career professionally in 2005.
This Was when he released the big hit titled ‘True Story’.
Over the years, he has released several hit singles and albums.
He is currently the CEO of the DM Record Label.
He signed King Perry into his label, after previously signing the likes of Patoranking and Runtown.
With a current net worth of $10.5 Million, he is the 9th richest musician in Nigeria today.
8. Rudeboy – Net worth: $10.8 Million
Paul Okoye (aka Rudeboy) is a Nigerian musician and songwriter who was born on the 16th of November 1981.
He is the younger twin of the former P-Square group.
He is currently married to Anita Isama, a girl whom he met back in the University.
After some conflicts with his brother some years back, they both separated and went solo.
Today, Rudeboy has dropped so many hit singles and he is loved by fans.
However, a lot of people pray for the re-unity of the defunct music group.
With a net worth of $11 Million, Rudeboy is said to be the 8th richest musician in Nigeria.
7. Phyno – Net worth: $11 Million
Phyno who goes by the real name Chibuzor Nelson Azubuike is a Nigerian Singer, rapper, and music producer.
He was born on the 9th of October 1986.
He is a very talented musician and he is said to be very intellectual.
He holds a Bachelor’s degree in Public Administration.
Throughout his life, he has had several dreams and aspirations of becoming a doctor, and later a pilot.
Today, he is a musician, and a very successful one for that matter.
However, he started his musical career back in 2003 before he later moved to Lagos to further his ambitions.
He has produced musical projects for artists like Timaya, Flavour, and many others.
In addition to that, he has won several awards as a musician and also one of the few musicians in Nigeria that takes pride in tradition.
Phyno often kills the beats with his local Igbo dialect, and this has racked him so many fans from the Eastern Region of the nation.
Today, he is said to be the 7th richest musician in Nigeria with a net worth of $11 Million.
6. Olamide – Net worth: $12 Million
Olamide Adedeji popularly known as Olamide (aka Badoo) is a Nigerian Singer, songwriter, and producer.
He was born on the 15th of March 1989 in Bariga, Lagos state.
Olamide is the father of street music in Nigerian and Africa as a whole.
He often sings his songs in his native Yoruba dialect, and this has given him a huge fan base especially in the Western region of Nigeria.
However, he started his music career with the Coded Tunes Label, but he currently runs his own label called YBNL Nation.
5. TuFace Idibia – Net worth: $16.8 Million
Born on the 16th of September, Innocent Ujah Idibia (aka 2Face) is a popular Nigerian musician and songwriter.
He was born in Jos, Plateau State, but is an indigene of Benue State, Nigeria.
He started his music career with the group Plantashun Boiz.
After a while, the group splitted and he went solo.
Ever since, his music career has continued to grow bigger.
During his early days, he was signed as an Artiste to Kennis Music.
It was under this label that he released the album ‘African Queen’.
This album ‘African Queen’ shot him into the limelight.
Since then, he has remained on top of the music scene.
He has won several awards like the Bet Awards, MTV Music Award, Headies, and more.
With a current net worth of $16.8 Million, he is the fifth richest Artist in the country today.
4. Burnaboy – Net worth: $17 Million
Damini Ebunoluwa Ogulu (aka Burna Boy) is a Nigerian Singer, songwriter, and dancer.
Burna Boy was born in Port-Harcourt, Rivers state, Nigeria.
However, he is an indigene of Mbiama, Ahoada West Local Government Area in Rivers state.
After his parents relocated from the city of Port-Harcourt to Lagos, Burna Boy gained the opportunity to boost his musical career.
As a musician, he gained popularity back in 2012 after the release of his hit titled ‘Like To Party’.
This song was a part of his first album titled L.I.F.E.
This album was released in 2013, and it featured some popular Nigerian musicians like Wizkid, Timaya, Olamide, M.I, and a few others.
In 2014, Burna Boy left the Aristokrat Record Label.
The next year, he established his own record label which he named ‘Spaceship Entertainment’.
After that, he released his second album called ‘On a Spaceship’.
Ever since, he has grown bigger and bigger in the music industry.
His album ‘African Giant (2019)’ was nominated for the Best Global Album Award by Grammy.
His latest album ‘Twice As Tall (2020) also made it to the list of nominees for the same Grammy Award category again.
This has made him the first Nigerian artist to be nominated for the Grammy Awards twice in a row.
Today, he is well recognised both within and outside Nigeria.
With a net worth of $17 Million, he is the 4th richest musician in Nigeria today.
3. Don Jazzy – Net worth: $18.5 Billion
Born on the 26th of November 1982, Collins Michael Ajereh (aka Don Jazzy) is the number three musician on the list.
He is a singer, songwriter, and producer.
He is also founder of the famous music label ‘Marvins Records’.
However, he is a wonderful singer and producer, and his wonderful talent for music production has taken him far in the music industry.
Over the years, his hard work and consistency have racked him so much wealth.
Years back, he started his music career with D’Banj to make Mo’Hits Records.
This record label dropped a series of hits before they finally splitted in 2012.
After he and D’Banj split, he later started a new record label ‘Marvin’s Records’.
His label has produced several top-class artists like Tiwa Savage, Dr. Sid, and Dprince.
Much later, it also produced young acts like Reekado Banks, Koreodo Bello, and Dija.
His most recent signings are young stars like Rema and Crayon.
With an estimated net worth of $18.5 million, Don Jazzy is currently the third richest musician in Nigeria.
2. Davido – Net worth: $19 Million
David Adedeji Tajudeen Adeleke (aka Davido) is another Nigerian singer and songwriter who is making waves in the international scene today.
He was born in Atlanta, Georgia in the United States of America.
His father is the famous Nigerian billionaire Adedeji Adeleke, who is the founder of Pacific Holdings Limited.
He is also the co-founder of Adeleke University in Osun state, Nigeria.
Davido has bagged several endorsement deals over the years.
He has signed multi-million dollar deals with companies like Guinness Nigeria, MTN, and recently Infinix mobile.
Before he came to the limelight with the major hit titled Dami Duro, he first released a single titled ‘Back When’ which featured Naeto C.
The song Dami Duro shot him into the spotlight.
This song was released in 2011, and the music video was directed by Clarence Peters.
1. Wizkid – Net worth: $20 Million
In number one place on this list, we have none other than Ayodeji Balogun Ibrahim who goes by the stage name Wizkid.
He is a Nigerian musician and songwriter.
Wizkid is currently the richest musician in Nigeria, and one of the richest in Africa.
Aside from being a musician, Wizkid has also bagged numerous endorsement deals from major companies across the world.
These companies include Pepsi, Glo, and recently Ciroc (The American international vodka company).
His net worth increased rapidly when he signed so many of these multi-billion dollar deals with these companies.
Recently, he signed a deal with the United Bank of Africa (UBA).
This deal is said to be worth millions of dollars.
Wizkid started his career as a musician while he was still a young kid.
Then, he joined a church band at 11, and they released an album.
While still struggling as a kid with a passion for music, Wizkid met OJB Jezreel, who later became his mentor.
Then, he used to visit his studio to listen and learn from major artists like 2Face Idibia amongst a host of others.
Wizkid then later joined the Empire Mates Entertainment (E. M. E) in 2009.
This is Banky W’s record label.
Through EME, Wizkid began his music career, and later became one of the biggest artists in the country as he is today.
Final Thought on 10 Richest Musicians in Nigeria
These ten musicians mentioned in this list are all well known to everyone.
They have all earned a fortune from the music industry, and they have gained worldwide fame for it.
There are other rich Nigerian musicians who did not make it up to this list.
That doesn’t make them less productive.
The Nigerian music industry is a strong force in the international scene, and we tend to grow at a very fast rate.
I hope you found the information in this article helpful.