Blessed with sublime talents, Nigeria is proudly home to some of the richest African musicians. Arguably the entertainment capital of the continent, music artists rise to stardom every now and then. Their fortunes come alongside with the fame.

They’ve graced international stages and brought roofs down across the world. They’ve sold concerts in the West, gone on tours even in the most remote climes of the Caribbean and sold a million copies of their mesmerizing albums.

These artists lead lavish lifestyles and spend fortunes on things that seem rather mundane to the eyes. From calling castles and mansions their homes to riding in million-dollar exotic beasts for cars, these artists are wealth personified and are emblematic of the African pride. 

Without further ado, here are the top 10 richest musicians in Nigeria (2020) and their Net Worth.

1. Wizkid – $20 Million

Wizkid -Richest Musician in Nigeria in 2020

Internationally acclaimed superstar Wizkid (real name: Ayodeji Balogun) is the richest musician in Nigeria. Born in 1990 in a polygamous family and breed on the streets of Surulere, Lagos, Nigeria, young Ayodeji pruned his music acts at a very tender age. And when Banky W (another famed music star in Nigeria) gave him a platform to start, the young star with his prodigy knocked himself out forthwith and became one of Nigeria’s biggest entertainment export and indeed one of Africa’s finest acts.

From his maiden brainchild single – Holla at your Boy, to his premier album – Super Star, the cash overflowed like waterfalls. Then the collaborations, the endorsements, sold-out concerts, the mega stage performances across the country and internationally and his record label all aggregated into a staggering fortune. The luminous artist has an estimated net worth of $20 million (7.34 billion naira). 

2. Davido – $19 Million


David Adeleke A.K.A Davido was born in the opulent confines of Atlanta, U.S.A in 1992. He was born into bounty wealth and blessed with a prodigy for music amidst a throaty voice.

He is the second richest musician in Nigeria and that has no verifiable connection with his father’s wealth as rumour mills suggest. On his return to Nigeria, Davido honed his skills and would not let his voice stand in the way.

Hard work was mixed with talent and the birth of his debut single – Dami Duro was all he needed to take the world’s centre stage. From that point, albums were rolled out with the years that followed and so did the money. It didn’t end there, factually, it was just the start.

Stages were graced by his presence, deals were struck, partnerships and international collaborations came, sold-out concerts home and abroad were held, he floated his record label, his songs and albums recorded chart-topping sales and here we are today at an estimated net worth of $19 million ( ₦6.9 billion). 

3. Don Jazzy – $18 Million

Don Jazzy

When it’s time to cast jibes in the past, he is being taunted as the only singer without a song to entirely call his own. He is Michael Collins Ajereh A.K.A Don Jazzy, acclaimed as Africa’s biggest music producer and one of the richest musicians in Nigeria.

Don Jazzy isn’t much of a singer but a crackerjack producer, beats maker and boss when it comes to maximizing music talents from artists.

Although he sings a lot with others and his signature baritone is remarkable. From the days of Mohit records – a label imprints he co-founded with Dbanj to founding his music empire christened – The Mavins, Don Jazzy has amassed million-dollar fortunes from producing party hit songs, bringing out the best in young artists, collaborating with nearly half of the A-list artists in Nigeria and from floating arguably the biggest music empire this side of the world.

He also has some endorsements and private businesses to his name. Don Jazzy has a net worth of $17 million, which is approximately ₦6.2 billion. 

4. 2Face (2Baba) – $15 Million

2Baba - Innocent Idibia

Formerly known as 2Face but owing to his sheer consistency and being revered as the father of contemporary music entertainment in Nigeria, he is now known as 2Baba. Innocent Idibia (real names) is widely extolled across Nigeria for starting early and still in the game.

From the days of his international attention courting single – African Queen, 2Baba has relentlessly entertained Nigerians and Africa at large with prime music. Best described as a living entertainment legend, 2Baba is one of the richest musicians in Nigeria asides from being one of the oldest in the game.

He has performed on numerous occasions, shows, concerts and has had cameo appearances in few movies. All this culminated to a fat net worth. He has churned out numerous albums that recorded massive sales. He has bagged endorsements deals worth millions, gone on tours, had collaborations and immersed few hands in the business to arrive at an estimated net worth of $15 million (5.5 billion naira). 

5. Dbanj – $13 Million


Born Oladapo Daniel Oyebanjo, Dbanj is a Nigerian singer, songwriter, entertainer and entrepreneur. He is a veteran in the music scene this side of Africa and one of Nigeria’s Richest Musicians.

Although he’s been quite inconsistent in the past years after having delved into business and other personal endeavours, he is still in the list since the fame and wealth he got during his heydays keeps him afloat.

Once in a while, he drops a few hit songs here and there and lays low. He is also one of Nigeria’s biggest entertainment export to the western world. One of the earliest to have collaborated with international acts, Dbanj has accrued wealth for himself to last him two lifetimes.

From celebrated albums, record mega deals, business, shows, concerts and prime investments, the Koko master and founder of Koko garri has an estimated net worth of $13 million (₦4.7 billion). 

Read Also: Top 10 Richest People in Nigeria in 2020

6. Olamide – $12 Million


From the uneasy confines of Bariga, Lagos rose Olamide Adedeji to global music spotlight. Talented and street-oriented, Olamide is a sensation and king of the street rapper.

His debut studio album – Rhapsodi was a hit and occupied the airwaves for a while before he continued dropping successful albums like shells.

Ever since he etched his name on the marbles of Nigeria’s entertainment scene, it’s a norm for him to always make it to the top 10 Richest Musicians in Nigeria list. Olamide has made a fortune out of his YBNL label with stately artists oozing terrific vibes to the latter. His albums have also sold nationwide and across borders, thus accentuating his net worth.

As a performing act, his services are not easy to come by in terms of financial commitment, this also enlarges his purse. The Badoo crooner has an estimated net worth of $12 Million, which is ₦4.4 billion. 

7. Timaya – $10.5 Million


Born Enitimi Alfred Odion, Timaya is one of Nigeria’s A-list artists that rose from the meanest grass to grand grace.

He started his art in the city of Port Harcourt and later moved to Africa’s entertainment capital, Lagos. In Lagos, he proved he wasn’t there to preach but prosper as he mastered his craft to public allure dishing out masterpieces in mind-blowing albums. He is one of Nigeria’s richest musicians today with an impressive net worth. The “Dem Mama” crooner built up a luxurious net worth from music.

He performed non-stop in shows across the country, sold albums, sold-out concerts, went on tours. Then the mouth-watering endorsements came along to add to his teeming wealth profile. He also made money from his songs being streamed online and from his music videos.

The Niger Delta superstar has an estimated net worth of $10.5 Million (3.85 billion naira). 

8. Peter (Mr P) and Paul Okoye (Rude Boy) – $10 Million

Psquare -Peter (Mr P) and Paul Okoye (Rude Boy)

Collectively, they are valued at $10 million (₦3.67 billion).

They once held the unrivalled monopolized title as the richest and biggest entertainment twins off the shores of Africa. But fate severed their blood ties and they ditched the acclaimed, prodigious and celebrated Psquare brand.

Going separate ways, they’re doing pretty well for themselves and are still in the list of richest musicians in Nigeria. A list they once coveted the number one spot for many years.

Judging from their recent individual music careers, it’s hard to tell if they’ve amassed a Forbes worthy net worth. However, their estimated net worth when they floated the Psquare brand was big enough to see each in the list. When you add their endeavours to their previous net worth, it’s only natural to have them here.

As a team, they’ve released albums that brought in millions, toured around the world, and received million-dollar endorsement deals. Additionally, they sold-out concerts, performed for millions and stacked up billions.  

9. Banky W – $9 Million

Banky W

Olubankole Wellington A.K.A Banky W was born in the United States. But returned home to establish a stance as one of Nigeria’s finest music artists. His unique style of romantic renditions endeared him to many on his return.

He built a music dynasty; Empire Mates Entertainment (E.M.E) for himself where he raked in millions in excess and groomed stars like Wizkid, Skales and Niniola. His albums sold-out concerts and performances saw his net worth rise exponentially. Then he ventured into acting where he made more money.

He has been a brand ambassador for famed brands like the former Etisalat, Samsung and Uber. These deals were by no means average in monetary value. He veered into politics but that had a negligible effect on his net worth.

The star is valued at $9 Million, which is approximately 3.3 billion naira. 

10. Flavour – $8.5 Million


Chinedu Okolie (Flavor) is one of Nigeria’s most loved entertainers. His penchant for love songs. And dope beats have seen him rise to stardom from the slums of Abakpa in Enugu to the hallowed pristine estates of Lagos.

He is the pride of the east and sings to appeal not just their fancy but to that of the international audience. He has bagged many endorsements deals worth millions of naira.

Flavor has some private investments to his name and has raked in fortunes from albums and shows. The “Ada Ada” Crooner is valued at an estimated $8.5 Million (₦3.1 billion). 

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