Top 50 Richest Musicians in Nigeria 2024 {Latest Ranking}

Nigeria’s richest musicians are often those who have succeeded in taking their art beyond the shores of their country. There is no shortage of such artists; Nigerian music is one of the most recognizable on the international stage- Nigerian music is very popular all over the world.

This popularity has brought in a lot of money; as international artists line up feature along with Nigerian musicians, so do international audiences line up to see the performances. Things soon spiral out of control, and musicians become even richer than they can manage.

Giving sprees, lavish parties, and unexplainable expenses may seem like attention seeking behavior, but they may also be coping mechanisms by these young people who have more money that their brains can process.

Top 50 Richest Musicians In Nigeria

1. Burna Boy

Net Worth: $30 Million

Burna Boy has steadily been coming up the ranks, and it was only a matter of time before he over took those at the top. After all, overtaking is allowed. The African giant has reigned supreme in the last two years.

Since winning the Grammy Award for Best World Music in 2020, he has added a different dimension to his career as a musician.

Burna Boy earns mostly in Dollars; he does more international shows than local ones; and he mostly performs with international artists. Furthermore, Burna Boy has become an online sensation; his streams and downloads a true measure of his stature in the industry.

Lastly, he is his own boss; he manages his Record Label; On A Space Ship.

2. Wizkid

Net Worth: $27 Million

Wizkid has been the golden boy of the Nigerian music industry for the last 10 years; from the O2 Arena in London to performing for an Indian King, Wizkid has been everywhere, and has done everything.

He is one of the top artists in the country; his collaborations are with heavyweights like Beyonce, Drake, Chris Brown, Akon, Burna Boy, and Justin Bieber.

Wizkid has been a cultural phenomenon; he is still arguably the most popular Nigerian musician of this generation. In the area of digital consumption of his music, Wizkid is a heavyweight; his music gets tons of streams and downloads, ensuring that the money comes in hard currency. Hard currency pays for private gets and golden toilets- everyday things for Wizkid.

3. Davido

Net Worth: $27 Million

Davido is one of the richest musicians in Nigeria; he is one of the few to be born with an abundance of talent and an abundance of money. He has consistently been in the forefront of the Nigerian music scene for about 10 years- for 5 of those he was the only serious competition for Wizkid.

Right from the beginning of his music career he has been an international sensation. His debut video was shot in London, and he has done a series of shows in that great city, including selling out the famous O2 Arena. Davido has also performed in several venues in Europe and America; confirming his status as a true international act.

He has collaborated Chris Brown, Nasty C, Meek Mill, Mafikzolo, Angelique Kidjo, and Nicky Minaj.

With so many collaborations he has songs that appeal to audiences all across the world, and that fact is reflected in the overwhelming number of streams and downloads that his music gets.

4. Don Jazzy

Net Worth: $26 Million

Don Jazzy is one of the biggest personalities in the Nigerian music industry; he is a musician, producer, and record executive. As CEO of Mavin Records he is one of the biggest talent developers and managers in the country; with nearly 15 top rated artists under his umbrella.

Don Jazzy did not recently come into music prominence; in the early 2000’s he was CEO of Mo Hits- the biggest record label in the country. Unfortunately, he fell out with his friend and partner D’ Bang, leading to the dissolution of the label.

Don Jazzy bounced back with Mavin Records; which he predicted would become the powerhouse of music in Africa within a short time. With so many artists under his umbrella, Don Jazzy is one of the biggest earners in the industry; earning from record sales, stage performances, and digital platforms.

His company Mavin Records, also has Mavin Films, Mavin Real Estate, Mavin Energy, and other entertainment outlets.

5. Olamide

Net Worth: $25 Million

Olamide has metamorphosed into a Music Boss; a one man conglomerate making huge amounts of money. He has achieved all this without drawing much attention to himself; which is something that is unusual at best.

He has proved to be one of the most consistent personalities in the music industry; he has been the king of the Vernacular Rap genre for several years; topping the charts as regards record sales, performances, and digital distribution.

Olamide sealed his place among the richest musicians in Nigeria with his eye for talent. He already demonstrated that he knew how to develop talent when he collaborated with Phyno and Lil Kesh, both of whom are now heavyweights in their own rights. Today, his record label YBNL Nation is one of the biggest in the country; with big names like Asake, Tennie, Chinko Ekun, and Fireboy.

6. Kcee

Net Worth: $25 Million

Kcee is one tricky personality; whenever it looks like his career is having a downturn, he springs back up, and takes the country by storm. Kcee’ rise to fame started in the 2000s; he was part of a duo called KCPresh. They won the MTN Star Quest reality show, and after that they stayed together for a few years before parting ways a few years later.

Kcee has continued to rise in his career since the split; he has become an international act with a distinct musical flavor called OjaPiano- a fusion of Oja music from eastern Nigeria, and Amapiano from South Africa.

He has performed his Ojapiano in Houston, in Berlin, and also at the famous O2 Arena in London.

He is signed to Five Star Music which is owned by his billionaire younger brother E Money. He has done brand endorsement deals for major brands in the country, most notable among them being MTN.

7. Tuface

Net Worth: $20 million

Tuface is one of the biggest musicians that have ever come out of Africa; a unique talent when it comes to singing, song writing, and making money through controversies. He is one of the longest serving musicians who have continued to be relevant; he was at the top when Wizkid rose to fame, and he is still one of those at the top today.

Tuface is one of those who have amassed so much popularity that he is now a festival on his own. He holds yearly music festivals where he performs to fans and they come in from all over the world to see him perform.

He also goes abroad to perform; he has performed in all the big arenas in America, the united kingdom, southern Africa, and the rest of the world.

His music continues to be downloaded online; he is an icon of music in Africa, and he has made a fortune in his career.

8. Tiwa Savage

Net Worth: $15 million

Tiwa Savage is another crowd puller; a true music heavyweight in her own right. Despite her crazy antics, she owes her status in the industry to her abundance of natural talent, and her hard working spirit. Her vocals are just out of this world, and her stage performances are time stopping events.

She has stopped time in all the big arenas; New York, the famous O2 Arena, and most recently at the coronation of King Charles III at Windsor Castle.

Tiwa Savage also rakes in money online; she is one of the fan favorites; with fans all over the world streaming and downloading her music.

9. Psquare

Net Worth: $15 million

After a few years in the darkness, Paul and Peter Okoye are finally back to their senses, and back to music. The twins who took the world by storm a couple of years ago are back into reckoning; although they were still among the richest musicians in the country when they were quiet, they have continued to add to their wealth now that they are active again.

Since reuniting, Psquare has done stage performances in Munich, London and other places, but their strongest suit seems to be online; as the spectacular break dancers that they are, their videos receive millions of views every quarter.

Spotify, Youtube, and other outlets are therefore important sources of income for the duo. Psquare is also making money from endorsements, of which there is no shortage due to the duo’s talent.

10. Timaya

Net Worth: $12 million

Timaya is another music heavyweight in Nigeria- one that is more interested in money than in a reputation. This artist, although a bit controversial, is the very definition of dynamic. He is very adaptive in his style of music; changing it from one genre to another seamlessly.

A person who is so dynamic will naturally have a bunch of albums popping out every year, and that bunch of albums translates to money. That explains why Timaya is so rich; he has so many songs out there, and they are all selling fast.

Timaya regularly holds stage performances both locally and abroad, and his performances are beloved because he is very energetic on stage.

Timaya has very enviable download numbers; this proves he is one of Nigeria’s most beloved musicians.

The following is a more comprehensive presentation of the top 50 richest musicians in Nigeria, and their genres.

Position	Musician	Genre	Net Worth
1	Burna Boy	Afropop, R&B, Afrobeats	$30 million
2	Wizkid	Afrobeats, Afropop, R&B	$27 million
3	Davido	Afropop, R&B, Pop	$27 million
4	Don Jazzy	Afropop, R&B, Pop	$25 million
5	Olamide	Rap, Afropop	$25 million
6	Kcee	Ojapiano, Pop, R&B, Gospel	$25 million
7	Tuface	Pop, Afrobeats, R&B	$20 million
8	Tiwa Savage	Afropop, R&B, pop	$15 million
9	Psquare	Pop, Afropop	$15 million
10	Timaya	Dancehall, Afrobeats, Ragga	$12 million
11	Flavour	Highlife, Hiplife, Afropop	$10 million
12	Patoranking	Dancehall, Afrobeats, Ragga, Reggae	$10 million
13	Phyno	Rap, R&B	$10 million
14	M.I Abaga	Rap	$10 million
15	Ice Prince	Rap	$9 million
16	Mr. Easy	Dancehall, Afrobeats, Afropop, R&B	$9 million
17	Asake	Afrobeats, R&B	$9 million
18	Lil Kesh	Rap	$7 million
19	Falz	Rap	$7 million
20	Iyanya	Afrobeats, R&B	$7 million
21	Tekno Miles	Afrobeats, R&B, Pop, Afropop	$7 million
22	Asa	Afrobeats, R&B, Soul	$6 million
23	Simi	R&B, Pop	$5.5 million
24	Yemi Alade	R&B, Pop	$5.4 million
25	Runtown	Afrobeats, R&B	$5.4 million
26	Reminisce	Rap, R&B	$5.4 million
27	Omawunmi	Afrobeats, Afropop	$5 million
28	Duncan Mighty	Highlife, Hiplife, afropop	$5 million
29	Wande Coal	Pop, Afropop	$5 million
30	Kiss Daniel	Afrobeats, Afropop	$5 million
31	Adekunle Gold	Afrobeats, Afropop, R&B	$4.8 million
32	Sean Tizzle	Afropop	$4.8 million
33	Dija	Afrobeats, Afropop, R&B	$4.8 million
34	Maleek Berry	Afrobeats, Afropop	$4.6 million
35	DJ Spinall	Afropop	$4.5 million
36	Nneka	R&B	$4.2 million
37	Ycee	Rap	$4 million
38	Mayorkun	Afropop, R&B	$4 million
39	Reekado Banks	Afropop	$4 million
40	Korede Bello	Afrobeats, Afropop	$4 million
41	Waje	Afrobeats, Afropop	$3.8 million
42	Iyanya	R&B, Afrobeats	$3.5 million
43	Skales	Rap	$3.5 million
44	Rema	R&B	$3.5 million
45	Portable	Mad Music	$3 million
46	Small Doctor	Afrobeats, Afropop	$3 million
47	Omah lay	Afrobeats, Afropop	$3 million
48	Arya Starr	Afrobeats, Afropop, R&B	$2 million
49	FireBoy DML	Afrobeats, Afropop	$2 million
50	Oxlade	Afrobeats, Afropop, Rap	$1 million

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Closing

The richest musicians in Nigeria often make their money abroad; despite the sizable nature of the local market, foreign shows and performances produce a different financial dimension. Furthermore, streaming and downloading of music online has become an important revenue source for musicians and record companies in Nigeria.

The goal therefore is to gain international recognition; building a brand for the international audience.

Tagged: Forbes list of Top 50 wealthiest musicians in Nigeria, richest artist in Nigeria male and female, the 10 richest hip-hop artist