Top 20 richest musicians in Nigeria and their net worth 2022

Top 20 richest musicians in Nigeria and their net worth 2022

The Nigerian music industry has always been among the most vibrant in Africa. With beautiful songs and appealing videos, the modern-day Nigerian music scene is immensely different from what it was decades ago. The Nigerian singers behind this tremendous change have made quite a fortune from the industry's rise. Who is the richest musician in Nigeria, and how much are they worth?

Who is the richest musician in Nigeria in 2022?
Some of the richest musicians in Nigeria. Photo: getty.com (modified by author)
Source: Getty Images

With its huge population and remarkable music industry, Nigeria has a significant number of wealthy musicians.

Who is the richest musician in Nigeria?

Here is a list of the richest musicians in Nigeria, their age, and current net worth.

20. Phyno - $3.7 million

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  • Real name: Chibuzor Nelson Azubuike
  • Age: 35 years (as of 2022)
  • Net worth: $3.7 million
  • Source of wealth: Music sales and performances, endorsement deals

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Phyno is a popular Nigerian musician whose name is derived from the word phenomenal. He began using the name as a stage name when in high school. The artist developed an interest in music production quite early, venturing into the music industry during his secondary school days.

He initially wanted to become a pilot but was told he could be a doctor. He abandoned both career possibilities and chose to pursue his love for music. Today, he is among the wealthiest Nigerian musicians.

19. MI Abaga - $4 million

top ten richest musicians in Nigeria
MI Abaga attends Global Citizen Live, Lagos on September 18, 2021 in Lagos, Nigeria. Photo: Andrew Esiebo
Source: Getty Images
  • Real name: Jude Lemfani Abaga
  • Age: 40 years (as of 2022)
  • Net worth: $4 million
  • Source of wealth: Music sales, record label, and endorsement deals

MI Abaga is a famous Nigerian singer and the current CEO of Chocolate City, a Nigerian record label founded in 2005. He was born on October 4th, 1981, and is well known for hits such as One Naira, Your Father, Bad Belle, and Anti.

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18. Wizkid - $4 million

list of the richest musicians in Nigeria
Wizkid performs at The O2 Arena on November 28, 2021 in London, England. Photo: Joseph Okpako
Source: Getty Images
  • Real name: Ayodeji Ibrahim Balogun
  • Age: 32 years (as 0f 2022)
  • Net worth: $4 million
  • Source of wealth: Music and record label

Wizkid is a renowned Nigerian singer, songwriter, and producer with a current net worth of $4 million. Besides his immense popularity in Africa, the singer has also reached international stardom after collaborating with well-known figures in the music industry, such as Drake.

17. Kcee - $4.5 million

  • Real name: Kingsley Chinweike Okonkwo
  • Age: 43 years (as of 2022)
  • Net worth: $4.5 million
  • Source of wealth: Music sales, endorsement deals

Kingsley Okonkwo, popularly known as Kcee, is a renowned Nigerian singer and songwriter. He was formerly part of the Hip Hop duo known as Kc Presh. The singer was born and brought up in Amaputu in Anambra State. He currently has a recording deal with Five Star Music.

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16. Kizz Daniel - $4.8 million

  • Real name: Oluwatobiloba Daniel Anidugbe
  • Age: 28 years (as of 2022)
  • Net worth: $4.8 million
  • Source of wealth: Music sales, endorsement deals

Kizz Daniel is a Nigerian songwriter and singer, born on May 1st 1994. He is best known for his remarkable hit singles, including Woju, Lie, and One Ticket. Daniel signed a recording deal with G-Worldwide Entertainment in 2013 but later left the famous record label following a public contract dispute and court case. He later founded the Fly Boy Inc record label a few years after his departure.

15. Ice Prince - $5 million

  • Real name: Panshak Henry Zamani
  • Age: 35 years (as of 2022)
  • Net worth: $5 million
  • Source of wealth: Music sales, record label

Born Panshak Zamani, Ice Prince is a Nigerian songwriter, rapper, and actor. He was born October 30th 1984, in Minna, Niger State. The singer then attended St. Murumba College and after that enrolled in the Science Tutorial College in Jos.

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In 1999, Ice Prince began writing and performing rap songs at social events held in his school. He later formed a group known as the ECOMOG Squad, which lasted a year.

14. Patoranking - $5 million

Who is the richest musician in Nigeria in 2022?
Patoranking performs onstage during the 4th Annual TIDAL X: Brooklyn at Barclays Center of Brooklyn on October 23, 2018 in New York City. Photo: Nicholas Hunt
Source: Getty Images
  • Real name: Patrick Nnaemeka Okorie
  • Age: 32 years (as of 2022)
  • Net worth: $5 million
  • Source of wealth: Music sales, investments, and endorsement deals

Patoranking is a Nigerian songwriter and singer. Today, he is widely regarded as one of the best dancehall musicians in the country and Africa. The renowned artist was born and brought up in Ijegun-Egba. He later started his musical career as a street jam and carnival dancer.

13. Yemi Alade - $5 million

richest artist in Nigeria
Yemi Alade attends the Earthshot Prize 2021 at Alexandra Palace on October 17, 2021 in London, England. Photo: Joe Maher
Source: Getty Images
  • Real name: Yemi Eberechi Alade
  • Age: 33 years (as of 2022)
  • Net worth: $5 million
  • Source of wealth: Music sales, investments, and endorsement deals

Yemi Eberechi Alade, commonly known as Yemi Alade, is a Nigerian Afropop singer and songwriter. She rose to prominence after winning the Peak Talent Show in 2009. Yemi is renowned for her numerous hit singles, including Bum Bum, Africa, Kissing, and Shekere. She is one of the richest female musicians in Nigeria in 2022.

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12. Banky W - $9 million

top ten richest musicians in Nigeria
Singer/actor Banky W takes the stage during the introduction for the 2016 Toronto International Film Festival premiere of "The Wedding Party" at The Elgin on September 8, 2016. Photo: J. Countess
Source: Getty Images
  • Real name: Olubankole Wellington
  • Age: 41 years (as of 2022)
  • Net worth: $9 million
  • Source of wealth: Music sales, investments, and endorsement deals

Banky W was born in the USA but grew up in Laos, Nigeria. The accomplished musician began his musical career at a very young age, at the time singing in church. After completing his high school studies, he relocated to New York for a university course in engineering.

His debut song, Ebute Metta, was an instant hit and paved the way for the release of other tracks such as Strong Thing and Lagos Party. Besides his immensely successful music career, Bank W has had several brand endorsements, most recently with Uber, Coca-Cola, and Etisalat Mobile. He was also the 'face of Samsung' in Nigeria.

The musician was also among the cast members of the 2016 film The Wedding Party, which made about $500,000.

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11. Tiwa Savage - $9 million

Who is the richest musician in Nigeria in 2022?
Tiwa Savage present the "MOBO Best Male Act" Award at the MOBO Awards 2021 at The Coventry Building Society Arena on December 05, 2021 in Coventry, England. Photo: Ian Gavan
Source: Getty Images
  • Real name: Tiwatope Savage-Balogun
  • Age: 42 years (as of 2022)
  • Net worth: $9 million
  • Source of wealth: Music sales, investments, and endorsement deals

Tiwa Savage is a world-famous British-Nigerian singer born on February 5th 1980. Besides singing, Tiwa is also an accomplished songwriter and actress. Born in Isale Eko, she relocated to London at the age of 11 for her secondary education. Five years later, she began her music career doing backup vocals for artists such as Mary J. Blige and George Michael.

10. Mr P - $9.8 million

richest artist in Nigeria
Peter Okoye of P-Square speaks during the MTV Africa Music Awards 2008 Press Conference at the Abuja Hilton Hotel on November 21, 2008 in Abuja, Nigeria. Photo: Gareth Cattermole
Source: Getty Images
  • Real name: Peter Okoye
  • Age: 40 years (as of 2022)
  • Net worth: $9.8 million
  • Source of wealth: Music, investments, and endorsement deals

Peter Okoye, commonly known as Mr P, was the other half of the now-defunct P-Square duo. The singer and record producer went on to release several songs after the split with his equally famous brother. Besides music, Peter has also made quite a fortune from brand influencing deals and commercials. Today, he is among the top ten richest musicians in Nigeria.

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In 2017, Peter released his debut solo tracks titled Cool It Down and For My Head, underlining his position as one of Nigeria's best musicians. One year later, he teamed up with Nyanda from the famous Brick and Lace duo for the song Wokie Wokie. He currently owns and manages a record label known as PClassic.

9. Don Jazzy - $10 million

  • Real name: Michael Collins Ajereh
  • Age: 39 years (as of 2022)
  • Net worth: $10 million
  • Source of wealth: Music, investments, and endorsement deals

Don Jazzy is an accomplished Nigerian entrepreneur, songwriter, singer, and record producer. His interest in the music industry began when he was aged 12. The musician has worked with numerous successful artists, including Jay-Z, Ikechukwu, Sauce Kid, and D'banj.

Don Jazzy was the founder of Mo' Hits Records, a record label associated with several Nigerian musicians. After the label was dissolved, he founded Mavin Records, which exists to date. Besides singing, Don Jazzy has previously had numerous brand endorsement deals. These include Samsung, Betway, Johnnie Walker, and Indomie Noodles.

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8. Davido - $10 million

list of the richest musicians in Nigeria
Davido performs at the O2 Arena on March 5, 2022 in London, United Kingdom. Photo: Joseph Okpako
Source: Getty Images
  • Real name: David Adedeji Adeleke
  • Age: 29 years (as of 2022)
  • Net worth: $10 million
  • Source of wealth: Music, investments, and endorsement deals

Davido is a Nigerian singer, record producer, and songwriter renowned for his catchy tunes and energetic dances. He rose to prominence after the release of his debut album Omo Baba Olowo in 2012. Since then, Davido has gained a massive global following, highlighted by the tens of millions of followers on his Instagram page.

The musician owns numerous properties in Nigeria and his birthplace in the USA. He has houses in Ikoyi, Banna Island, Lekki, and Atlanta, Georgia. The musician dropped out of school to pursue his musical passion before returning later to complete his studies. His illustrious career has seen him win a BET award as well as a number 6 position for his album on the billboard's US World Album charts.

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7. Flavour - $10.2 million

  • Real name: Chinedu Izuchukwu Okoli
  • Age: 38 years (as of 2022)
  • Net worth: $10.2 million
  • Source of wealth: Music, business ventures, and endorsement deals

Flavour's music career began at the age of 13 when he started singing in church as a choir member. He then perfected his skills when the resident pastor introduced him to the executive officer at the renowned Soundcity Communications. The young Flavour then joined the company on an educational scholarship.

The musician has won numerous awards throughout his career. These include a City People Entertainment Award, Nigeria Music Video Award (NMVA), and Channel O Music Video Award. Flavour's musical prowess and subsequent fame have opened doors for numerous social event invitations, concerts, and endorsement deals. The latter includes deals with Nigerian Breweries, Onga Seasoning, Hapr, Globacom, and Conoil.

6. Timaya - $10.5 million

richest singer in Nigeria
Recording artist Timaya performs onstage at 2015 Passport Experience Festival at Centennial Olympic Park on July 19, 2015 in Atlanta, Georgia. Photo: Paras Griffin
Source: Getty Images
  • Real name: Enitimi Alfred Odom
  • Age: 41 years (as of 2022)
  • Net worth: $10.5 million
  • Source of wealth: Music sales, investments, and endorsement deals

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Timaya was born Enitimi Alfred Odom in Port Harcourt, Rivers State. He started his singing and songwriting career when he founded the hugely popular music group Dem Mama Soldiers. In 2005, he left the group to pursue his solo career and soon released his debut album titled True Story. The launch was quickly followed by his second album, Gift and Grace, in 2008.

5. Olamide - $10.5 million

  • Real name: Olamide Adedeji
  • Age: 32 years (as of 2022)
  • Net worth: $10.5 million
  • Source of wealth: Music, investments, and endorsement deals

Olamide is a Nigerian hip-hop artist, songwriter, and CEO of the YBNL Record Label. He is one of the few famous artists who record songs in native Yoruba. The musician came from a humble background and gradually rose to prominence. His music label has signed numerous artists, including Temi Ovwasa, Chinko Ekun, Picazo, Lil Kesh, and Adenkule Gold.

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Olamide is also a brand ambassador for several high-profile Nigerian companies, including iTel Mobile, Cîroc, Globacom, and Guinness. In 2019, he signed an endorsement deal with Goldberg Lager, reportedly worth millions of naira.

4. D'banj – $11 million

top ten richest musicians in Nigeria
D'banj performs on stage at the O2 Academy Brixton on August 25, 2019 in London, England. Photo: Robin Little
Source: Getty Images
  • Real name: Oladapo Daniel Oyebanjo
  • Age: 41 years (as of 2022)
  • Net worth: $11 million
  • Source of wealth: Music, investments, and endorsement deals

D'banj is a famous Nigerian TV personality, entrepreneur, rapper, songwriter, and singer. His stage name is adopted from a combination of his real names, Oladapo (Dapo) and Oyebanjo. His decorated music career has seen him win several awards, including the artist of the Year at the MTV Africa Music Awards in 2009, The Best African Act at the MTV Europe Music Awards in 2007, and the Best International Act: Africa at BET Awards in 2011.

His 2012 song, Oliver Twist, was among his most successful ones. Besides being a Nigerian success, D'banj also became the first African musician to get signed to Kanye West's GOOD Music record label. Away from the music scene, the musician owns a chain of high-end clubs and lounges as well as a significant investment in a company known as Koko Water.

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D'banj's music income and numerous business ventures have catapulted him into one of the top richest musicians in Africa.

3. Rudeboy - $15 million

  • Real name: Paul Okoye
  • Age: 40 years (as of 2022)
  • Net worth: $15 million
  • Source of wealth: Music, investments, and endorsement deals

Paul Okoye, commonly known as Rudeboy, was part of the now-defunct duo P-Square that took Africa by storm. Since the duo's split in 2017, Paul has released several hit songs; some considered to be among Nigeria's finest tracks in the last few years. Paul and his twin brother, Peter, had been together for 15 years.

The affluent musician loves to spend on luxury cars and reportedly owns a Range Rover, BMW X6, Jeep Wrangler, and a Mercedes Benz. He also owns a mansion in Atlanta, Georgia, quite close to that of his brother Peter.

2. Burna Boy - $17 million

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Who is the richest musician in Nigeria in 2022?
Burna Boy attends the 2022 Billboard Music Awards at MGM Grand Garden Arena on May 15, 2022 in Las Vegas, Nevada. Photo: Mindy Small
Source: Getty Images
  • Real name: Damini Ebunoluwa Ogulu
  • Age: 30 years (as of 2022)
  • Net worth: $17 million
  • Source of wealth: Record sales, investments, and endorsement deals

Burna Boy is a Nigerian dancer, rapper, songwriter, and singer. He is one of Nigeria's most accomplished artists and was awarded the African Artist of the Year at the2020 VGMAs. In 2020, Burna Boy's album Twice as Tall was nominated for the Grammy Award in the African Artiste of the Year category.

In 2021, the musician won the Best World Music Album award at the 63rd Annual Grammy Awards.

1. 2Baba/2Face Idibia - $22.2 million

list of the richest musicians in Nigeria
Nigerian artist Innocent Ujah Idibia, popularly known as 2Baba (former 2face Idibia) speaks after receiving a recognition award. Photo: Pius Utomi Ekpei
Source: Getty Images
  • Real name: Innocent Ujah Idibia
  • Age: 46 years (as of 2022)
  • Net worth: $22.2 million
  • Source of wealth: Record sales, investments, and endorsement deals

2Baba is the richest artist in Nigeria. He is a renowned Nigerian record producer, actor, songwriter, and singer, who began his music career as part of the now-defunct group Plantashun Boiz. His big break as a solo artist came in 2006 when he released the famous track African Queen. The musician has won tens of awards in his career and has over 6 studio albums to his name.

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Besides music, 2baba has numerous investments in the Nigerian real estate industry. He also owns a nightclub known as Rumors and reportedly makes between $50,000 and $80,000 per show. In 2019, he was appointed the brand ambassador of Pazino Homes and Gardens, a Nigerian real estate company. In 2020, he was the UNHCR's goodwill ambassador.

Some of his other notable brand endorsement deals include Campari, Airtel, and Guinness. In 2006, he was reportedly paid more than $100,000 by the producers of the movie Phat Girls for the use of his track African Queen.

Who is the richest musician in Africa in 2022?

With a $145 million net worth, Youssou N'Dour is the richest musician in Africa. The 62-year-old is also one of the best-known and most successful Senegalese musicians.

Who is the richest musician in Nigeria in 2022?

Who is the richest singer in Nigeria? With a net worth of $22.2 million, 2baba is the richest musician in Nigeria.

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Who is the richest female musician in Nigeria?

Tiwa Savage is the wealthiest female Nigerian musician. Her current net worth is estimated to be $9 million.

This article answers questions about the richest musician in Nigeria. The country is renowned for its vibrant music industry. The richest Nigerian singers have amassed their wealth from various sources, the most common being music sales, business ventures, and endorsement deals.

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