Top 10 Richest Musicians in Nigeria and Their Net Worth
Would you like to know about the top 10 richest musicians in Nigeria and their net worth? Well, you are in the right place. The Nigerian music industry is one of the fastest-growing industries in the country. It has produced amazing singers over the years
On this page, we will be sharing the estimated analysis and rankings based on trends, the top Nigerian richest Musicians so far in the industry.
Take your time and read through.
It is interesting to also know that within the last couple of months, most of these musicians have accrued so much wealth and that’s how we will rank them.
Below is the list of the top 10 richest Nigerian musicians for the year.
10. Flavour – Net Worth of $9.5 million
Flavour N’abania is one of the richest musicians in Nigeria based on his net worth which is just a little over $9 Million.
He is the brand ambassador for Flat tummy tea, a weight loss company, Bullet, an energy drink, and MTN, one of the major telecoms companies in Nigeria.
Flavour’s real name is Chinedu Okoli and his sojourn into music can be traced to his time as a drummer at his local church. At that time, he was a young boy living in Enugu State.
Flavour became popular when he released the hit song, ‘Nwa Baby (Ashawo Remix)’ in 2005. During this period, he released his first album titled, ‘N’abania’.
Five years later, he released his second studio album, ‘Uplifted’ which had hit singles like “Nwa Baby (Ashawo Remix)”, “Adamma”, and “Oyi Remix”.
This second album was hugely successful making the singer one of Africa’s most sought out artists. In fact, Flavour performed at numerous concerts and social events following the release of the Uplifted album.
Currently, Flavour charges N3 million per show however this amount could be higher depending on where he is performing.
- Lexus LX 570
- Black Mercedes Benz G-wagon (40 million)
- Land Rover (N25 million)
- BMW X6 (18 million)
9. Peter Okoye and Paul Okoye – $10 Million Each
It is impossible to fail to mention the former popular duo P-Square created by Peter and Paul Okoye. The brothers take ninth place in the list and have the same net worth.
Paul and Peter Okoye were born on November 18th, 1981 in Jos, Plateau State. The brothers created the extremely popular band P-Square which was one of the most famous duos in Nigerian music until they decided to go separate ways.
The brothers earned crazy amounts of money when they performed together. It was estimated that they used to get $150,000 per concert in Africa and had a luxurious life.
Among their possessions were a big house and a private jet. Today, they both appeared in the ninth position of the rating, and have only about $10 million each.
Mr. Peter’s Cars and Mansion
Mr. P has a mansion in Lagos, Nigeria, and another one in Atlanta, USA. He is also a real car collector. He owns exquisite cars that are not inferior to any celebrity, including:
- 2 Range Rovers (₦50 million – ₦82 million)
- BMW X6 (₦23.5 million – ₦28 million)
- Dodge Challenger (₦10.8 million – ₦22 million)
- Porsche 718 Cayman (~ ₦22 million)
- Mercedes AMG GL63 (~₦45 million)
- Bentley Mulsanne (~₦125 million)
- Jeep Wrangler (~ ₦12.6 million)
Mr. Paul’s Cars and Mansion
Paul Okoye, currently known as RudeBoy, has houses in Nigeria and outside the country, and none of the houses is less than mansions.
His collections of cars include Rolls-Royce Phantom (~₦204 million)
- Rolls Royce Ghost (₦191 million – ₦247 million)
- Land Rover Range Rover (₦50 million – ₦82 million)
- Lamborghini Gallardo (₦74.6 million – ₦117.9 million)
8. Timaya – $10.5 million
This popular celebrity’s real name is Enitimi Alfred Odom, and he was born in Port Harcourt, Rivers State, on August 15th, 1980.
He started his singing and songwriting career when he founded the music group Dem Mama Soldiers.
In 2005, he began his solo career and released his debut album called True Story. It was followed by the next album Gift and Grace in 2008.
However, after the release of his third studio album titled De Rebirth, Timaya rose to international recognition and prominence.
Today, Timaya has a total of six albums and a lot of singles. He is often called the Dancehall King of Nigeria because he is the most popular artist in this genre.
Through singing, he earned enough money to buy a huge house, decorated in white, with big pictures on the walls, a swimming pool, large windows, and soft, colorful carpets.
He can really afford it because Timaya’s net worth is estimated at $10.5 million.
Timaya’s Houses and Cars
Timaya has a mansion worth ₦250 million at Lekki, Lagos State. Timaya owns 3 Mercedes G-Wagon cars in different colors.
Besides the Benzs, Timaya’s car collection is enviable with other expensive rides; see below:
- Porsche 911 Carrera (~₦42 million)
- 2 Range Rover Sports (₦84 million – ₦90 million)
- Mercedes-Benz G55 AMG (₦60 million – ₦85 million)
- Mercedes-Benz GLE (₦20 million – ₦22 million)
- Bentley Continental GT (~₦76 million)
- Lexus LX570 2015 (₦29,000,000 – ₦39,000,000)
- Used Lexus GX 460 (₦25 million – ₦42 million)
7. Phyno – $11 million
The musician’s stage name, Phyno, means phenomenal. The singer is indeed a phenomenal personality because he has many talents and desires.
The man wanted to be a pilot, doctor, he played drums and piano, and at the same time could create his rendition of every recording he heard.
Fortunately, he had chosen to become a musician, and it was the right choice that brought him $11 million and made Phyno one of the world’s household names in music.
Phyno’s Cars and Houses
Being one of the richest musicians in Nigeria, Phyno owns many extravagant assets such as a 3 bedroom duplex worth about N170 million at Chevy View Estate, Chevron Drive in Lekki another mansion at Enugu State.
He also owns expensive cars, including a Rolls Royce Phantom:
- Rolls-Royce Phantom (~₦204m)
- Lamborghini Gallardo Spyder (₦74.6 million – ₦117.9 million)
- Polaris Slingshot (~₦7.3 million)
- Bentley GT Coupe (~₦72.7 million)
- Range Rover Sports (₦84 million – ₦90 million)
- Toyota Avalon (~₦11 million)
6. Olamide – $12 million
Olamide Adedeji is known in Nigeria as Olamide (his other nicknames are Olamide Baddo and BaddoSneh). He is a rising superstar of the Nigerian hip-hop music genre.
The singer was born on March 15th, 1989, in Bariga, Lagos State. He is known for recording mostly in his native language, Yoruba.
His career blossomed in 2010 when he released his single Eni Duro and in 2011 his album Rapsodi. The successful album was followed by the second album YBNL, which featured a few hit singles that made Olamide popular in no time.
Today, he has seven studio albums and is featured on one compilation recording. He has won many awards like an NEA, at the most prestigious Nigerian and African award ceremonies.
Olamide’s Houses and Cars
Being the 6th richest musician in Nigeria has an estimated net worth of $12 million. Olamide owns 2 mansions in Lekki and Bariga, Lagos, and a flashy garage with pricey cars including:
- Mercedes-Benz G Wagon (~₦23 million)
- Range Rover Sports V8 (₦84 million – ₦90 million)
- Used Rolls-Royce Phantom (~₦204 million)
5. 2Baba (2Face Idibia) $16 million
2Baba also known as 2Face is one of the legends of the music industry in Nigeria. Ujah Idibia, who is better known under his stage names 2Face and 2Baba, takes the fifth position on the list of the most successful and the wealthiest Nigerian musicians.
This talented man was born on September 18th, 1975, in Jos.
The singer’s career started from zero: he performed at schools, and then at universities. Moreover, he had to interrupt his own education to concentrate on his career.
He worked hard, and currently, is one of the best-known Afropop musicians. Since 2004, when his debut album “Face 2 Face” saw the world, he has released six albums.
2Face currently has endorsements with the likes of Glo and Campari and he is said to be the owner of Rumours, a popular nightclub in Lagos.
His musical compositions brought him a number of awards like the BET Award, MTV Europe Music Award, the Headies Award, and a net worth estimated at $16.2 Million for today.
2baba Cars and Houses
2baba is not very open about his collection of cars, but here are the cars that were caught ridden by 2Face:
- Chevrolet Corvette Coupe (~₦45million)
- Ferrari Coupe (₦57 million – ₦80 million)
- Used Toyota Land Cruiser Prado (₦30 million – ₦52 million)
4. Burna Boy – $17 million
Damini Ogulu, commonly known as Burna Boy, is a popular Nigerian singer and songwriter. His 2012 track, Like to Party, propelled him to fame. In 2017, the singer signed with Bad Habit/Atlantic Records.
The singer’s net worth is currently estimated at $17 million. His income comes from the sale of music, endorsement deals, and other investments.
Burna Boy’s Cars and Houses
Burna Boy is an exotic car lover. According to the award-winning musician, he bought his first car at the age of 17. It was a Range Rover.
- Mercedes-Benz G Wagon.
- 2013 Ferrari 458 Italia
- Rolls Royce Down Convertible
3. Don Jazzy – $18.5 million
Famous Nigerian producer and singer Don Jazzy became rich and famous due to his musical talent, persistence, and ability to interact with people.
His real name is Michael Collins Ajereh, and he was born on November 26th, 1982 in Umuahia, Abia State. Don Jazzy is the founder of the label Mo’Hits Records. It was founded due to the collaboration with D’Banj.
Don Jazzy and D’Banj stopped working together in 2012, and Don Jazzy did not waste time. He shortly announced that he created a new label called Mavin Records.
The musician began his collaboration with such stars as Dr. SID, Tiwa Savage, Wande Coal, Reekado Banks, Korede Bello, Di’Ja, and many others.
Don Jazzy’s Houses and Cars
Don Jazzy has 3 mansions, one at Lekki, one in Banana Island, Lagos, and another at Los Angeles, USA. He also rides exotic cars, including:
- Porsche 911 Carrera (~₦42 million)
- Bentley Continental (~₦25 million)
- Cadillac Escalade (~₦27.2 million)
- Used Mercedes Benz E350 (~₦20 million)
2. Davido – Net worth of $19 Million
David Adeleke popularly called Davido is the second richest musician in Nigeria based on his assets and net worth which is estimated at $21.2 Million.
The self-acclaimed Omo Baba Olowo (OBO) has made headlines over the last year, signing several lucrative endorsement deals.
Also, the musician has gone on several local and international tours over the last two years and these concerts have been sold out.
Some of his hit singles include the tracks like IF and Fall which have crossed over 60 million views on YouTube. In fact, the singer revealed that he has made over $1 million off ‘pon pon’ sound.
His endorsement deals include brands like AXE, a popular perfume brand, Infinix, prominent mobile phone manufacture, and many more.
Recently, there were rumors that Davido purchased a Bombardier Jet. Although, this is yet to be ascertained, however, there was another interesting story indicating the extent of money at his disposal.
More Details about Davido
In April 2018, Davido was the talk of the town when he spent N45 million to buy a brand new Porsche for his girlfriend, Chioma on her birthday.
Davido shot into the limelight in 2011 when he released the hit single, “Dami Duro” which was well-received throughout Nigeria.
He released his debut album, ‘Omo Baba Olowo’ in 2012. The album featured popular hits like “Back When” featuring Naeto C, “Dami Duro”, “All of You”, “Overseas” featuring Sina Rambo, “Ekuro”, “Gbon Gbon” and “Feel Alright” featuring Ice Prince
Along with his elder brother Adewale Adeleke, Davido is the co-owner of HKN Music (a record label home to Sina Rambo, B. Red, and DeeKay). He is also a record producer and has produced songs for the likes of Naeto C, Skales, Tiwa Savage, and Sauce Kid.
In April 2012, he signed an endorsement deal with MTN Nigeria. This deal was said to be worth over N30 million. This led to Davido being unveiled as the face of MTN Pulse, a marketing campaign for Nigerian youths.
In October 2013, Davido partnered with Guinness Nigeria for the “Guinness World of More” concert. Davido performed at the Guinness World of More Concert alongside P-Square, D’banj, Wizkid, Ice Prince, Burna Boy, Olamide, Phyno, Chidinma, Waje, and Tiwa Savage, among others.
Over the last five years, Davido has released smash hits like “Gobe”, “One of a Kind”, “Skelewu”, “Aye”, “Tchelete (Goodlife)” featuring Mafikizolo, “Naughty” featuring DJ Arafat, “Owo Ni Koko”, “The Sound” and “The Money” which featured Olamide.
In 2016, Davido signed a record deal with Sony Music. The musician also owns his own label, Davido Music Worldwide (DMW). Dremo and Mayorkun are currently signed to the label.
Davido’s Cars and Houses
Davido has two mansions in Lekki, Lagos, and a getaway mansion in Georgia, USA. Davido’s car collection is dazzling with:
- Rolls Royce Cullinan 2019 (~₦350 million)
- Bentley Bentayga (₦108 million)
- Bentley Continental GT (~₦95 million)
- Porsche Panamera Turbo S (~₦22.8 million)
- Range Rover Sports (₦84 million – ₦90 million)
- Range Rover SV Autobiography (₦98 million)
- Chevrolet Camaro GS (₦9.4 million)
- Audi R8 (₦23.4 million)
- Audi Q7 (₦12 million)
- Mercedes-AMG GLS63 (~₦45 million)
- Mercedes G-Wagon (~₦21 million)
- Toyota Land Cruiser (~₦30 million) several cars like a Porsche, Range Rover Sport and Chevrolet Camaro
1. Wizkid – $20 Million
Wizkid is the number 1 in our list of the top 10 richest musicians & artists in Nigeria. Wizkid’s net worth is estimated at 20 million U.S dollars.
Ayodeji Ibrahim Balogun, better known as Wizkid, used to be a simple boy who adored singing and had enough talent and passion for music recording. He was born in Surulere in Lagos State, on July 16th, 1990.
Also, He released a collaboration album at the age of 11 with the group Glorious Five, which was formed by him and his friends in a church. He is also known as StarBoy and Lil Prinz.
He gained popularity with the release of Holla at Your Boy, the song from his debut album Superstar in 2010.
Later, he has released three mega-successful albums, as well as one compilation album, and even recorded a hit song One Dance with famous music performer Drake. This song appeared in Guinness World Records.
Therefore, Wizkid became the first Afrobeat musician whose name was included in this book. He also has a lot of endorsement deals with such companies as Glo and Pepsi.
Wizkid’s Car Collections and Houses
Wizkid has a ₦13 million mansion in Surulere, Lagos, and another one in Los Angeles. Wizkid’s car collection includes:
- Lamborghini Urus (₦80 million)
- Porsche Panamera (~₦50.8 million)
- Used Mercedes Benz G63 AMG (₦55 million – ₦65 million)
- BMW X6 crossover (₦8.7 million)
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