Top 10 Richest Musicians in Nigeria By Their Net Worth (2024)

Based on total music and album sales, endorsements, and net worth, we have expertly compiled the list of the highest-earning musicians in Nigeria as of 2024.

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List of Richest Musicians in Nigeria 2024:

RankNameNet Worth
1Wizkid$30 million
2P-square$27.26 million
3Davido$26 million 
4Don Jazzy$25 million 
5Burna Boy$22 million
6Olamide$15 million
72Baba$13.5 million
8Phyno$12 million
9Tiwa Savage $10 million
10Timaya$9 million

1. Wizkid

richest musician in nigeria

Born Ayodeji Balogun, Wizkid is the richest musician in Nigeria as of 2024.

Over the years, Wizkid has diversified his income streams by owning a record label, and personal companies while also working as an ambassador for other top brands such as Pepsi, Ciroc, Guinness, MTN, Glo, and Nike.

The singer also earns a significant portion of his income through music sales, streaming, and live performances.

He is the first and only Nigerian to have sold out the 02 Arena in the United Kingdom three days in a row, and he has performed there on multiple occasions.

Check out our article on the net worth of Wizkid for extensive details on the singer’s rise to wealth and affluence.

2. P Square 

A photo of p square - 2nd richest musicians in nigeria

P-Square (Peter Okoye Mr.P and Paul Okoye Rudeboy, Born November 18, 1981, in Jos), comfortably sit among the top ten richest artists in Nigeria with a combined net worth of $27.26 million.

The twins earn money from music and album sales, live shows, multiple brand endorsement partnerships, and their companies.

Despite owning multiple properties in Nigeria and overseas, P-Square bought a private jet worth millions of dollars in 2012 as a show of their wealth and affluence.

a photo of p square private jet

In addition, Mr. P also owns the online Lottery Platform, ‘Zoom Lifestyle’, where he rakes in millions daily.

Assets

They love to invest in luxury cars, houses, and travel.

Houses

Paul Okoye of P-Square, aka Mr P, has a luxuriously furnished 1.5 billion NGN condominium in Banana Island, Lagos. 

Rudeboy of Psquare is the owner of a magnificent home in Parkview Estate, Ikoyi, Lagos, Nigeria.

Cars

Mr P’s impressive collection of cars includes:

  • Range Rover 
  • Mercedes-Benz G Wagon
  • Porsche 718 Cayman

Rudeboy also owns a fleet of vehicles, which includes:

  • BMW X6 
  • Mercedes Benz C Class
  • Jeep Wrangler 
  • Lamborghini Aventador Roadster 
  • Range Rover Vogue
  • Lamborghini Huracan

3. Davido 

 Davido

David Adeleke, popularly known as Davido, is a Nigerian musician who tops the list of Nigeria’s richest singers.

Despite his privileged background, Davido has become one of the most successful self-made millionaires in the Nigerian music industry.

He achieved this feat through his hard work, dedication, and musical talent.

Check out our article on Davido net worth for an in-depth breakdown of how the singer makes his money.

4. Don Jazzy

Born on November 26, 1982, in Umuahia, Abia State, Nigeria, Don Jazzy, whose real name is Micheal Ajereh Collins, is the 4th richest musician in Nigeria.

He has several lucrative revenue streams that include album sales, streaming platforms, brand deals, endorsements, promotions, and live shows.

You can read our article on Don Jazzy net worth for more details about his source of wealth.

5. Burna Boy

burna boy

Damian Ogulu, popularly known as Burna Boy, is a Nigerian singer and songwriter who has garnered widespread popularity.

He is one of the highest-paid artists when it comes to his live shows, having sold out stadiums and concert venues both in Nigeria and internationally.

Apart from his music career, Burna Boy has also signed partnerships with several popular brands, including Nike, Cîroc, and Apple Music, where he serves as an ambassador.

Read our article on Burna Boy net worth for more information on his source of wealth.

6. Olamide

a photo of olamide

Born Olamide Adedeji on March 15th, 1989, in Bariga Lagos State, Olamide is a Nigerian rapper, singer, songwriter, and YBNL record label owner.

With an estimated net worth of $15 million, Olamide has become one of the wealthiest musicians in Nigeria.

Olamide’s income comes from various sources, including album sales, song streams, concerts, record deals, and his record label, YBNL Nation.

Read more about Olamide’s net worth in this article.

7. 2Baba

2baba net worth

2face who now goes by the name 2baba is a super talented singer from Jos.

Born Innocent Ujah Idibia on September 18, 1975, in Jos, Plateau State, Nigeria, he spent most of his childhood in his hometown. 

2baba’s net worth has been estimated to be $13.5 million making him one of the richest artists in the country.

Currently, He has nine albums under his belt and has sold more than 50 million copies of his music worldwide.

One of his most successful albums is ‘African Queen,’ which alone has sold over 5 million copies worldwide.

Houses

According to online sources, he reportedly owns properties in the United States and Nigeria, specifically Lagos and Benue.

He has a five-bedroom duplex in Richmond Gate Estate and a luxurious property on Banana Island.

Cars

2baba is not exactly the type of artist who flaunts his cars, however, he has been reported to own a Lincoln Navigator and a Chevrolet Corvette, worth 36 million Naira.

8. Phyno

phyno net worth

Phyno, whose real name is Chibuzor Nelson Azubuike, was born on October 9, 1986, in Enugu State, Nigeria.

With a net worth of $12 million, Phyno is one of the highest-earning musicians in Nigeria.

Phyno earns his money through multiple sources, with his music being the primary one.

A significant portion of his net worth comes from his concerts, records, show performances, brand ambassadors, social media promotions, and other businesses.

Top 10 Richest Musicians in Nigeria By Their Net Worth (2024)

He currently serves as a brand ambassador for “Airtel Nigeria,” one of Nigeria’s fastest-developing telecommunications companies.

Recently, Phyno signed an endorsement deal with Life Continental Lager Beer and Hero.

House 

It was revealed that Phyno bought twenty new homes, worth millions in Lagos from the Empire Terrace Project by Victoria Crest Homes.

Cars

He is known for his love of luxury cars which he loves to flaunt on his social media.

a picture of phyno in his rolls royce

Below is a list of all Phyno’s cars and their prices:

  • Rolls Royce Phantom worth N204,000,000
  • Bentley Continental GT Coupe worth N72,700,000
  • Toyota Avalon worth N11,000,000
  • Range Rover Sports worth over N84,000,000

9. Tiwa Savage

a picture of tiwa savage

Tiwa Savage is a highly successful singer and songwriter based in Nigeria.

She is among the few artists who have managed to remain consistent in the industry over the years.

She also earns a lot of money from high ticket sales, sponsorships, merchandise sales, and streaming royalties from her concerts and tours.

We covered more on Tiwa savage net worth in this article, feel free to check it out.

10. Timaya

timaya net worth

Born Inetimi Alfred Odon on August 15, 1980, Timaya is a Nigerian singer and songwriter who has built an impressive net worth of $9 million through various means.

His primary source of income stems from his remarkable success in the music industry, with hundreds of millions of streams on various platforms contributing significantly to his earnings.

In 2021, Timaya released the hit single “Cold Outside” in collaboration with Nigerian artist Buju and record producer Yung Willis. 

The song was an instant success with about 75 million streams and over 500 million plays worldwide.

His YouTube channel boasts over 50 million views and half a million subscribers, making a significant amount of income.

Apart from music, Timaya also earns money from other sources.

He is a brand ambassador for various companies and products, as well as a regular performer at live events.

He also makes money from performances and endorsements. 

Timaya signed an endorsement deal with Hennessy, Globacom, and MTN.

Houses

a photo of timaya in his house

Timaya has multiple houses in Nigeria, one of his houses is said to have been worth about N200 million.

He has also been reported to own houses in very upscale areas in Port Harcourt and Lagos.

Cars

Timaya’s garage is filled with the latest models of top luxury vehicles.

Here is a list of his cars;

  • Mercedes Benz G55 AMG (Price – N55 Million)
  • Lexus SUV GX269 (Price – N33 Million)
  • Mercedes Benz GLE (Price – N25 Million)
  • Range Rover Sport 2016 Model (Price – N19 Million)
  • Range Rover Sport 2013 Model (Price – N17 Million)

Conclusion

Not only are these artists producing great music, but they have also amassed significant wealth making them some of the wealthiest musicians in Africa.

With the Afrobeat industry still growing at an exponential rate, it is only a matter of time before they catch up with the richest musicians in the world.

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