Hello there from The Hype. In this article, we will be talking about the richest musicians in Nigeria and their net worth in 2023. We will also be talking about how rich they are, how they made their money, and their earnings from different sources every year.
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 growing popularity of Nigerian singers has made quite a fortune from the industry’s rise.
According to Forbes, Nigeria’s most prominent musicians are enjoying their share of fame and success, as they earn millions of dollars annually. So how much net worth do Nigerian musicians have? Who are the richest musicians in Nigeria? Keep on reading to know more.
Top 20 Richest Musicians In Nigeria And Their Net Worth In 2023
| Ranking | Names | Net Worth 2023 |
|---|---|---|
| 1 | 2Baba/2Face Idibia | $22.2 million |
| 2 | Burna Boy | $17 million |
| 3 | Rudeboy | $15 million |
| 4 | D’banj | $11 million |
| 5 | Olamide | $10.5 million |
| 6 | Timaya | $10.5 million |
| 7 | Flavour | $10.2 million |
| 8 | Davido | $10 million |
| 9 | Don Jazzy | $10 million |
| 10 | Mr. P | $9.8 million |
| 11 | Tiwa Savage | $9 million |
| 12 | Banky W | $9 million |
| 13 | Yemi Alade | $5 million |
| 14 | Patoranking | $5 million |
| 15 | Ice Prince | $5 million |
| 16 | Kizz Daniel | $4.8 million |
| 17 | Kcee | $4.5 million |
| 18 | Wizkid | $4 million |
| 19 | MI Abaga | $4 million |
| 20 | Phyno | $3.7 million |
Here’s a list of the 20 richest musicians in Nigeria, their ages, and their current net worth. With so many talented and hardworking artists making it big in the Nigerian music industry today as we speak, it can be really difficult to determine which artist is the best paid.
20. Phyno – Net Worth Of $3.7 million
Phyno is a Nigerian musician whose name is derived from the word phenomenal. He started using the stage name in high school. The artist developed an interest in music production at a young age, and he soon became involved in the music industry.
| Real Name | Jude Lemfani Abaga |
| Date Of Birth | 9 October 1986 |
| Age | 36 years old (as of September 2023) |
| Net Worth | $3.7 million |
| Source Of Wealth | Music sales and performances, endorsement deals |
He was first interested in becoming a pilot, but he was also told that he could become a doctor if he wanted to.
As a result, he abandoned both of those career possibilities and chose to pursue his love for music. Today, he is among the wealthiest Nigerian musicians with an amazing net worth of $3.7 million as of September 2023.
19. MI Abaga – Net Worth Of $4 million
MI Abaga is a Nigerian singer, rapper, and CEO of Chocolate City, a record label founded in 2005. He was born on October 4th, 1981, and is well known for hits such as One Naira, Your Father, and Bad Belle.
| Real Name | Chibuzor Nelson Azubuike |
| Date Of Birth | 4 October 1981 |
| Age | 41 years old (as of September 2023) |
| Net Worth | $4 million |
| Source Of Wealth | Music sales and performances, endorsement deals |
MI Abaga has a total net worth of $4 million as of September 2023.
18. Wizkid – Net Worth Of $4 million
Wizkid is a Nigerian singer whose current net worth is $4 million as of September 2023. He has collaborated with Drake and other popular artists after reaching international stardom in Africa.
| Real Name | Ayodeji Ibrahim Balogun |
| Date Of Birth | 7 July 1990 |
| Age | 33 years old (as of September 2023) |
| Net Worth | $4 million |
| Source Of Wealth | Music and record label |
17. Kcee – Net Worth Of $4.5 million
Kingsley Okonkwo, who is known by his stage name Kcee, is a popular Nigerian singer and songwriter.
He was formerly part of the Hip Hop duo Kc Presh. Okonkwo was born in Amaputu in Anambra State, where he currently lives.
| Real Name | Kingsley Chinweike Okonkwo |
| Date Of Birth | 18 April 1979 |
| Age | 37 years old (as of September 2023) |
| Net Worth | $4 million |
| Source Of Wealth | Music sales and performances, endorsement deals |
Kingsley Okonkwo is also one of the richest musicians in Nigeria. He has a contract with Five Star Music and his net worth is $4 million in 2023.
16. Kizz Daniel – Net Worth Of $4.8 million
Kizz Daniel was born on May 1st, 1994. He is a Nigerian songwriter and singer best known for his remarkable hit singles, including Woju, Lie, and One Ticket.
In 2013 he signed a recording deal with G-Worldwide Entertainment 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. His net worth is $4.8 million in 2023.
| Real Name | Oluwatobiloba Daniel Anidugbe |
| Date Of Birth | 1 May 1994 |
| Age | 29 years old (as of September 2023) |
| Net Worth | $4.8 million |
| Source Of Wealth | Music sales and performances, endorsement deals |
15. Ice Prince – Net Worth Of $5 million
Ice Prince, born Panshak Zamani, is a Nigerian musician and actor. Born October 30th, 1984 in Minna, Niger State, he attended St. Murumba College in Jos and then enrolled in the Science Tutorial College.
| Real Name | Panshak Henry Zamani |
| Date Of Birth | 30 October 1986 |
| Age | 36 years old (as of September 2023) |
| Net Worth | $5 million |
| Source Of Wealth | Music sales and performances, endorsement deals, and record labels. |
Richest Musicians In Nigeria
In 1999, Ice Prince began writing and performing rap songs at social events held in his school. He later formed a group called the ECOMOG Squad with his friends, which lasted for about a year. His net worth is estimated to be $5 million as of September 2023.
14. Patoranking – Net Worth Of $5 million
Nigerian songwriter and singer Patoranking was born and brought up in Ijegun-Egba. He later started his musical career as a street jam and carnival dancer. Today, he is widely regarded as one of the best dancehall musicians in the country and Africa.
| Real Name | Patrick Nnaemeka Okorie |
| Date Of Birth | 27 May 1990 |
| Age | 33 years old (as of September 2023) |
| Net Worth | $5 million |
| Source Of Wealth | Music sales and performances, endorsement deals |
Patoranking is one of the richest musicians In Nigeria with an amused net worth of $5 million as of 2023.
13. Yemi Alade – Net Worth Of $5 million
Yemi Eberechi Alade is a Nigerian Afropop singer and songwriter. She rose to prominence after winning the Peak Talent Show in 2009. Yemi has released several hit singles, including Bum Bum, Africa, Kissing, and Shekere. In 2023, she was one of Nigeria’s richest women musicians and her net worth is $5 million.
| Real Name | Yemi Eberechi Alade |
| Date Of Birth | 13 March 1989 |
| Age | 34 years old (as of September 2023) |
| Net Worth | $5 million |
| Source Of Wealth | Music sales and performances, endorsement deals |
12. Banky W – Net Worth Of $9 million
Banky W, a Nigerian musician and recording artist, was born in the United States but grew up in Laos and Nigeria. He began singing in church at a young age. After completing high school studies, he moved to New York for an engineering degree at a university.
| Real Name | Olubankole Wellington |
| Date Of Birth | 27 March 1981 |
| Age | 42 years old (as of September 2023) |
| Net Worth | $9 million |
| Source Of Wealth | Music sales, investments, and endorsement deals. |
He made a big splash with his debut song, Ebute Metta, and the hits have kept coming. He recently partnered with Uber and Coca-Cola, and he’s been the face of Samsung in Nigeria.
The musician was also among the cast members of the 2016 film The Wedding Party, which earned about $500,000 at the box office. Currently, Banky W’s net worth is $9 million as of September 2023 and he is one of the richest musicians In Nigeria.
11. Tiwa Savage – Net Worth Of $9 million
Tiwa Savage is a popular British-Nigerian singer born on February 5th, 1980. Besides singing, she also writes songs and acts in movies. She was born in Isale Eko and moved to London at age 11 for her secondary education. Six years later, she began her music career doing backup vocals for Mary J. Blige and George Michael.
| Real Name | Tiwatope Savage-Balogun |
| Date Of Birth | 5 February 1980 |
| Age | 43 years old (as of September 2023) |
| Net Worth | $9 million |
| Source Of Wealth | Music sales, investments, and endorsement deals |
10. Mr. P – Net Worth Of $9.8 million
Peter Okoye, who is known as Mr P, was the other half of the now-defunct duo P-Square. After his split from his equally famous brother, Peter released several songs and became a successful brand influencer and commercial spokesperson for various companies. Today, he is one of the top 20 richest musicians in Nigeria.
| Real Name | Peter Okoye |
| Date Of Birth | 18 November 1981 |
| Age | 41 years old (as of September 2023) |
| Net Worth | $9.8 million |
| Source Of Wealth | Music sales and performances, endorsement deals |
Peter released his debut solo songs Cool It Down and For My Head in 2017, following a long career as one of Nigeria’s most popular musicians. He teamed up with Nyanda from Brick and Lace for his hit song Wokie Wokie in 2018. He currently owns and manages the record label PClassic. His net worth is estimated at $9.8 million as of 2023.
9. Don Jazzy – Net Worth Of $10 million
Don Jazzy is a successful Nigerian entrepreneur, songwriter, singer, and record producer. His interest in the music industry began when he was 12 when he learned to play the guitar from his older brother. The musician has worked with many successful artists, including Jay-Z, Ikechukwu, Sauce Kid, and D’banj.
| Real Name | Michael Collins Ajereh |
| Date Of Birth | 26 November 1982 |
| Age | 40 years old (as of September 2023) |
| Net Worth | $10 million |
| Source Of Wealth | Music sales and performances, endorsement deals, and record labels. |
In 2009, he founded the record label Mo’ Hits Records. Two years later, he founded another label called Mavin Records, which still exists today.
He is also involved with other businesses outside of his music career. These include brand endorsement deals with Samsung, Betway, Johnnie Walker, and Indomie Noodles, making him one of Nigeria’s richest musicians. Currently, his net worth is $10 million in 2023.
8. Davido – Net Worth Of $10 million
Davido is a Nigerian singer, record producer, and songwriter. 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.
| Real Name | David Adedeji Adeleke |
| Date Of Birth | November 21, 1992 |
| Age | 30 years old (as of September 2023) |
| Net Worth | $10 million |
| Source Of Wealth | Music sales and performances, endorsement deals |
The musician owns houses in Ikoyi, Banna Island, Lekki, and Atlanta, Georgia. He dropped out of school to pursue his musical passion before returning later to complete his studies. His career has seen him win a BET award alongside a number 6 position for his album on billboard’s US World Album charts.
7. Flavour – Net Worth Of $10.2 million
When Flavour was 13, he started singing in church. The choir’s resident pastor introduced him to an executive at Soundcity Communications, a recording company in Nigeria. Flavour then joined the company on an educational scholarship.
| Real Name | Chinedu Izuchukwu Okoli |
| Date Of Birth | 23 November 1983 |
| Age | 39 years old (as of September 2023) |
| Net Worth | $10.2 million |
| Source Of Wealth | Music, business ventures, and endorsement deals |
Flavour has won many awards throughout his career. These include a City People Entertainment Award, Nigeria Music Video Award (NMVA), and Channel O Music Video Award. He is also known for his musical prowess and subsequent fame. This has led to invitations to events, concerts, and endorsement deals with Nigerian Breweries, Onga Seasoning, Hapr, Globacom, and Conoil.
6. Timaya – Net Worth Of $10.5 million
Timaya was born Enitimi Alfred Odom in Port Harcourt, Rivers State, Nigeria. He started his music career with the hugely popular music group Dem Mama Soldiers. In 2005, he left the group to focus on his solo career and soon released his debut album titled True Story. The launch was quickly followed by his second album, Gift and Grace.
| Real Name | Enitimi Alfred Odom |
| Date Of Birth | 15 August 1980 |
| Age | 43 years old (as of September 2023) |
| Net Worth | $10.5 million |
| Source Of Wealth | Music sales, investments, and endorsement deals |
5. Olamide – Net Worth Of $10.5 million
Olamide is a Nigerian artist, songwriter, and CEO of YBNL. 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, and Lil Kesh.
| Real Name | Olamide Adedeji |
| Date Of Birth | 15 March 1989 |
| Age | 34 years old (as of September 2023) |
| Net Worth | $10.5 million |
| Source Of Wealth | Music sales and performances, endorsement deals |
Olamide has appeared in commercials for several Nigerian companies, including iTel Mobile, Cîroc, Globacom, and Guinness. In 2019 he signed an endorsement deal with Goldberg Lager worth millions of naira, making him one of the richest musicians in Nigeria. He has a total net worth of $10.5 million as of September 2023.
4. D’banj – Net Worth Of $11 million
D’banj is a famous Nigerian TV personality, entrepreneur, rapper, songwriter, and singer. He got his stage name from a combination of his real names: Oladapo (Dapo) and Oyebanjo. He has won several awards in his decorated music career, including Best European Act at the MTV Africa Music Awards in 2007 and Best International Act: Africa at BET Awards in 2011.
| Real Name | Oladapo Daniel Oyebanjo |
| Date Of Birth | 9 June 1980 |
| Age | 43 years old (as of September 2023) |
| Net Worth | $11 million |
| Source Of Wealth | Music sales and performances, endorsement deals |
His 2012 song, “Oliver Twist,” was one of D’banj’s most successful ones. In addition to 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, he owns a chain of high-end clubs and lounges and a significant investment in a company called Koko Water. Today, D’banj is one of the richest musicians in Nigeria, with a total net worth of $11 million in 2023.
3. Rudeboy – Net Worth Of $15 million
Paul Okoye, who goes by the stage name Rudeboy, was part of the now-defunct duo P-Square. Since the group’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.
| Real Name | Paul Okoye |
| Date Of Birth | 18 November 1981 |
| Age | 41 years old (as of September 2023) |
| Net Worth | $15 million |
| Source Of Wealth | Music sales and performances, endorsement deals |
The musician enjoys spending his money on luxury vehicles, and he reportedly owns a Range Rover, BMW X6, Jeep Wrangler, and a Mercedes Benz. He also owns a mansion in Atlanta, Georgia, close to that of his brother Peter.
2. Burna Boy – Net Worth Of $17 million
Burna Boy is a Nigerian dancer, rapper, songwriter, and singer. He has had a successful time of it as one of Nigeria’s most accomplished artists and was awarded the African Artist of the Year by the 2020 VGMAs (Video Music Awards). In 2020, Burna Boy’s album Twice as Tall was nominated for the Grammy Award in the African Artiste of the Year category.
| Real Name | Damini Ebunoluwa Ogulu |
| Date Of Birth | 2 July 1991 |
| Age | 32 years old (as of September 2023) |
| Net Worth | $17 million |
| Source Of Wealth | Record sales, investments, and endorsement deals |
In the year 2021, the musician won a Grammy Award for Best World Music Album at the 63rd Annual Grammy Awards. Burna Boy is a hardworking and one of the richest musicians in Nigeria, with an estimated net worth of $17 million as of 2023.
1. 2Baba/2Face Idibia – Net Worth Of $22.2 million
2Baba is a Nigerian record producer, actor, songwriter, and singer. He 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 many awards in his career and has over 6 studio albums to his name.
| Real Name | Innocent Ujah Idibia |
| Date Of Birth | 18 September 1975 |
| Age | 48 years old (as of September 2023) |
| Net Worth | $22.2 million |
| Source Of Wealth | Music sales and performances, endorsement deals |
2baba has numerous investments in the Nigerian real estate industry, including a nightclub called Rumors. He 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 endorsement deals include Campari, Airtel, and Guinness. In 2006, he was reportedly paid more than $100,000 by the producers of Phat Girls for using his track African Queen.
Who Is The Richest Musician In Nigeria In 2023?
2baba is the richest musician in Nigeria, with a net worth of $22.2 million. Well, you might think it is Wizkid. But if you look at their net worth, they are not even close to 2baba. 2baba’s net worth is $22.2 million, while Wizkid’s net worth is $5 million.
Actually, 2baba has remained on top of the list for five consecutive years now.
Who Is The Richest Female Musician In Nigeria?
With no surprise to probably anyone who is familiar with her, Tiwa Savage is the richest female musician in Nigeria. She has done some amazing things and received several awards for being on top. She is at the top of this list with an estimated net worth of $9 million as of 2023.
Who Is The Richest Musician In Africa In 2023?
The African continent is home to the most promising music talents. That’s why it’s no surprise to see Senegalese artists taking the first two positions in our list of richest musicians in Africa. Critics and fans alike are positive about the future of African music.
According to Celebrity Net Worth, the richest musician in Africa is Youssou N’Dour. The Senegalese star has a $145 million net worth and is just behind both Jay Z and Drake in the list of the richest musicians under 62 years old. The top 5 also include Sean Combs, Diddy, Sting, and Kanye West (in no particular order.)
Conclusion
Some of the richest musicians in Nigeria have made the headlines. The top Nigerian musician, 2face Idibia, has been named Africa’s richest musician and entertainer several times. The singer can be credited for making a large amount of money for Nigeria’s economy.
