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

Based on total music and album sales, endorsements, and net worth, we have expertly compiled the list of the richest musicians in Nigeria as of the year 2024:

1. Wizkid

Wizkid is the richest musician in Nigeria with an estimated net worth of over $30 million (39 Billion Naira) in 2024 which he earned through a combination of royalties from record releases and sales, live performances, endorsements, and other commercial ventures.

Between 2018 and 2024, Starboy earned a whopping $35 million from his music tours, selling albums, and brand deals.

This has made him one of the top 10 highest-earning musicians in Africa.

Below a table showing Wizkid’s annual networth from 2017-2024:

Over the years, the singer 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, UBA, MTN, Glo, Dolce and Gabbana, Puma, and Nike.

With millions of monthly listeners, Wizkid’s music generates substantial revenue from streaming alone.

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

Aside from his streaming success, Wizkid owns several houses, luxury cars, jewelry, and landed properties worth millions of dollars.

In 2013, Wizkid bought his very first house in Lekki, Lagos for N 68 million and then purchased another house in Ojuelegba Surulere, for his parents according to online sources, 

He also owns a 3-storey mansion in Los Angeles, which reportedly cost between $10 million and $15 million.

Below is a list of some of his most expensive cars and their worth:

2. P Square 

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.

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

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 

David Adeleke, popularly known as Davido, is a Nigerian musician who tops the list of Nigeria’s richest singers with a net worth of $25 million (34 Billion Naira) in 2024.

Davido earns his income, from record sales, streams, live performances, international tours, and major endorsement deals with Munch it, Pepsi, Martell Blue Swift, Infinixv Wema Bank, PUMA, and Travelbeta, as well as Close Up, Guinness, and Mtn Pulse.

Besides his music career, he is also the founder of Davido Music Worldwide (DMW) record label which generates significant income for him.

David owns three houses, one in Atlanta, USA, and two in Nigeria with several luxury cars and landed properties worth millions of dollars.

The singer recently purchased a Bombardier 7500 private jet worth over $80 Million.

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

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 with a net worth of $25 million (19 Billion Naira) in 2024 according to Forbes Africa.

Don Jazzy earns his income primarily from his role as the founder of Mavin Records, the biggest and most successful record label in Nigeria with top singers like Rema, Ayra Starr, Crayon, and Johnny Drille all signed under him.

His other sources of income include promotions, and endorsement deals with major brands like MTN, Loya Milk, Samsung, Konga, Glo, Hantec Market, and Quidax.

Don Jazzy also generates income from his personal companies Mavin Energy and Jazzy’s Burger which he launched in 2013 and 2022 respectively. 

He owns multiple luxury houses, cars, and properties in Nigeria.

His cars include;

• Porsche 911 Carrera
• Toyota Prado
• Lexus LX 570
• Range Rover Sport
• Bentley Flying Spur
• Cadillac Escalade SUV
• Mercedes Benz G-wagon

5. Burna Boy

Damian Ogulu, popularly known as Burna Boy, is a Nigerian singer and songwriter with an estimated net worth of $22 Million (17 Billion Naira) as of 2024.

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.

Most of his revenue is generated from the sales of his albums and singles, in addition to earnings from endorsement deals, tours, and features from other artists.

Cars

Burna Boy owns some of the best luxury cars in the music industry.

Among his fleet of cars include:

Houses

Burna Boy bought a lavish 8-bedroom mansion worth millions of naira in Lekki, Lagos.

The singer himself confirmed the news by sharing glimpses of his new house on social media.

6. 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.

He has also signed endorsement deals with several Nigerian and international brands, including CIROC, Guinness, Globacom, Etisalat, iTel, Goldberg, and National Lottery.

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

Olamide’s success story is a source of inspiration to many, as he has worked very hard to achieve his dreams.

7. 2Baba

Innocent Ujah Idibia known on stage as 2baba or 2face is a super-talented singer from Jos,  Plateau State born on September 18, 1975.

2baba’s net worth has been estimated to be $13.5 million in 2024 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 earning him income till date.

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, 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, social media promotions, and brand ambassadorial deals with Airtel, 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

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

Tiwa Savage is the richest female musician in Nigeria with a net worth of  $10 million (14 Billion Naira) in 2024. 

She is one of the few artists who have remained consistent in the industry over the years.

Tiwa’s sources of income include ticket sales, sponsorships, merchandise sales, and streaming royalties from her concerts and tours.

10. Timaya

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.

His primary source of income stems from record sales, streams, shows, and his endorsement deal with Hennessy, Globacom, and MTN contributing significantly to his earnings.

In 2021, Timaya released the hit single “Cold Outside” which had over 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.

Houses

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)