Music is no longer just a talent in Nigeria, it is now a multi-billion-naira industry. Nigerian musicians earn massive income from music streaming, concerts, brand endorsements, international tours, record labels, and business investments.
Over the years, Nigerian artists like Davido, Wizkid, Burna Boy, Olamide, and 2Baba have taken Afrobeats to the global stage, translating fame into serious wealth.
In this article, we answer one of the most searched questions online:
Who is the richest musician in Nigeria?
Important Note:
There is no official Forbes ranking of Nigerian musicians. All net worth figures are carefully estimated based on endorsements, assets, music earnings, businesses, and publicly available information.
Top 10 Richest Musicians in Nigeria
1. Davido – Estimated Net Worth: ₦80–₦90 Billion
David Adedeji Adeleke (Davido) is widely regarded as the richest musician in Nigeria.
Davido earns from:
- International tours and sold-out concerts
- Music streaming and royalties
- Major endorsements (MTN, Puma, Infinix, Pepsi, Martell)
- DMW record label
- Real estate and luxury assets
Born into a wealthy family, Davido has also built an independent empire through music. His global hit songs and collaborations with international stars have significantly boosted his income.
2. Wizkid – Estimated Net Worth: ₦75–₦85 Billion
Ayodeji Ibrahim Balogun (Wizkid) is one of Africa’s most successful global artists.
Major income sources include:
- Sony/RCA Records partnership
- International tours
- Streaming royalties
- Endorsements with Pepsi, MTN, Ciroc, UBA
- Starboy Entertainment
Wizkid made history as the first Nigerian artist to win a Grammy Award (with Beyoncé’s Brown Skin Girl) and continues to dominate global charts.
3. Burna Boy – Estimated Net Worth: ₦70–₦75 Billion
Damini Ebunoluwa Ogulu (Burna Boy) is Nigeria’s most streamed global artist.
He earns heavily from:
- World tours (Europe, US, Asia)
- Grammy-winning albums
- Streaming platforms
- Endorsements (Chivas, Pepsi, Burberry)
Burna Boy’s sold-out stadium shows across continents place him among the highest-earning African musicians ever.
4. Don Jazzy – Estimated Net Worth: ₦55–₦60 Billion
Michael Collins Ajereh (Don Jazzy) is Nigeria’s richest music producer.
Income streams:
- Founder of Mavin Records
- Artist management
- Music production
- Brand endorsements
- Investments in startups and tech
Mavin Records houses top stars like Rema, Ayra Starr, Crayon, and Johnny Drille, making Don Jazzy a major power figure in African music.
5. Olamide – Estimated Net Worth: ₦50–₦55 Billion
Olamide Adedeji (Baddo) is one of Nigeria’s most influential street-to-global artists.
Sources of wealth:
- YBNL Nation record label
- Music streaming and tours
- Endorsements (Glo, Guinness, Ciroc)
- Artist development (Fireboy DML, Asake)
Olamide is known for discovering and nurturing new talents while maintaining commercial success.
6. 2Baba (2Face Idibia) – Estimated Net Worth: ₦45–₦50 Billion
A true legend, 2Baba remains one of Nigeria’s most respected artists.
Income comes from:
- Music royalties
- Endorsements (Glo, Campari)
- Investments and real estate
- Live performances
His classic hit “African Queen” remains one of Nigeria’s most iconic songs.
7. P-Square (Peter & Paul Okoye) – Estimated Net Worth: ₦40–₦45 Billion (Combined)
Despite splitting and reuniting, P-Square remains one of Africa’s most successful music duos.
They made money through:
- Album sales
- International tours
- Endorsements
- Individual solo careers
Each twin (Mr P & Rudeboy) maintains significant personal wealth.
8. D’banj – Estimated Net Worth: ₦35–₦40 Billion
D’banj (Koko Master) made huge earnings during his international peak.
Sources include:
- Music and tours
- Brand endorsements
- Entrepreneurship (CREAM Platform)
- Investments
His influence helped open global doors for Nigerian pop music.
9. Timaya – Estimated Net Worth: ₦30–₦35 Billion
Known as the Egberi Papa 1 of Bayelsa, Timaya dominates the dancehall and Afro-fusion scene.
Income streams:
- High-fee performances
- Endorsements (Glo, Hennessy)
- Streaming and royalties
Timaya reportedly charges ₦8–₦15 million per performance.
10. Flavour (Flavour N’abania) – Estimated Net Worth: ₦25–₦30 Billion
Chinedu Okoli (Flavour) is the undisputed king of modern highlife music.
He earns from:
- Live performances
- Endorsements (MTN, Bullet Energy Drink)
- Music royalties
- Event performances across Africa
Flavour’s journey from church drummer in Enugu to continental superstar is widely admired.
Final Thoughts
The Nigerian music industry has grown into a global money-making powerhouse. Today’s top musicians are not just artists — they are brands, investors, and global entrepreneurs.
While Davido, Wizkid, and Burna Boy currently dominate the wealth conversation, the industry keeps evolving, and new stars continue to rise.
davido is the richest
I have always believed that Davido is the one.