Richest Musicians In Nigeria Right Now [2023 List]

Top 20 Richest Musicians in Nigeria

Do you want to know who is the richest musician in Nigeria, or would you like to see a list of rich Nigerian musician and their net worth as listed in Forbes?

Well, I’ve compiled a list of super-wealthy Nigerian songwriters for you. In this article, I’ll show you The Richest Nigerian Musicians And Their Official Net Worth In Forbes.

By the time you are done reading this guide, you’ll know the names of the richest musicians in Nigeria.

The content in this article was cited from the Renowned American Business Magazine Forbes. So you are sure that every detail in this article is correct and up to date.

So, if you want to know the names and net worth of the richest artists in Nigeria, we’ve got you covered. This is a detailed list of the most successful Nigerian Musicians In 2023.


Page Contents

Richest African Musicians List

 The table below lists the richest Nigerian musicians and their net worth in 2023.

Stage NameNet Worth In 2023
Davido$38 Million
Wizkid$26 Million
Burna Boy$21 Million
Don Jazzy$21 Million
2Baba$16 Million
Tiwa Savage$15 Million
Olamide$15 Million
Psquare$13 Million
D’Banj$10 Million
Phyno$9 Million
Timaya$8 Million
Jidenna$7 Million
Flavor$7 Million
Banky W$5 Million
MI Abaga$5 Million
Yemi Alade$4 million
Falz$4 Million
Kcee$4 Million
Mr. Eazi$3 Million
Wande Coal$1.8 Million
This is an updated list of the richest Nigerian Musicians In 2023

Richest Nigerian Musicians Right Now

Who are the richest musicians in Nigeria? How rich is Wizkid, exactly? We all know Davido owns a private jet; Olamide drives some of the most expensive cars on the Nigerian streets, but who else deserves to make the top of this list?

Have you ever wondered which musicians are the richest in Nigeria? Or do you want to look at this year’s ranking of the richest musicians in Nigeria? If it’s one or both of these questions, continue to read. According to Forbes magazine, here’s a 2023 list of the richest musicians in Nigeria.

1. Davido – $38 Million [Forbes]

Richest Musicians In Nigeria Right Now [2023 List]
Davido – $38 Million [Forbes]

Davido is undoubtedly the richest Nigerian musician this year, “30 billion for account ooo”, No be a lie.

David Adeleke, popularly known as Davido is also one of the wealthiest musicians in the Nation.

Davido, also called Omo Baba Olowo [OBO], is another famous musician in Nigeria with a jaw gaping net worth and makes millions of Naira daily from his job as an entertainer. 

Before we state his net worth, take a moment to think, Davido and Wizkid, who is richer? Davido has an estimated net worth of $38 million, while Wizkid’s net worth is just over $26 million.


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There has been a long debate among Nigerians as to know if Davido is richer than Wizkid. But let me put your debate to an end, Davido is richer than Wizkid. Even without his Adeleke inheritance, Davido has more money than Wizkid.

Maybe last year, Wizkid had a chance at Davido because of his endorsement with UBA Bank and other big firms but Davido’s Net worth can be compared to those of Wizkid.

If you feel like I am missing out on something, you can also share your ideas in our comment section below.

Davido is also richer than Olamide and Phyno combined. Remember that earlier last month, Davido’s father, Dr. Deji Adeleke acquired a new private jet worth $62 million, three times Wizkid’s net worth.

This billionaire family now has five private jets and over a dozen bulletproof cars. I’m sure Davido will also have a handsome portion of the Adeleke inheritance when the time comes.

Davido is worth more than $30 million without his father’s inheritance. With the inheritance, we estimate that Davido is worth a little over $200 million.

You should check out our post on Deji Adeleke Net Worth for more information on that.

Who Is Davido? 

Davido is another rich and successful songwriter in Nigeria, who has broken records and achieved tremendous and near-impossible feats in the Nigerian music industry, like shutting down concerts at the O2Arena.


Just like Wizkid, Davido is a super-talented songwriter, record label owner, and award-winning entertainer. Unlike Wizkid, Davido was born with a silver spoon. Davido comes from one of the wealthiest families in Nigeria, the Adeleke family.

David Adedeji Adeleke, also known as Davido, is the son of one of Nigeria’s wealthiest and most powerful politicians. Davido was born on the 21st of November 1992 in Atlanta, USA.

Davido is the son of Prince Adedeji Adeleke.  But he did not depend on his father’s wealth. Davido went ahead to complete his education and was awarded a degree in one of the finest universities in Nigeria.

He also completed his NYSC program with flying colors while still pursuing his music career. He has also engaged with Nigerian youths to stop internet scams and face their studies.

Davido can easily be regarded as the most hardworking musician in Nigeria. Davido has also released several hit songs that tore music charts and broke records.

Davido has two beautiful daughters and a son. The names of Davido’s children are Aurora, Hailey, and Ifeanyi Adeleke.

 Sophie Momodu is the mother of Aurora Imade Adeleke. While second daughter Hailey Veronica Adeleke was the prodigy of Davido’s American ex-girlfriend, Amanda. This youngest and only son at the moment is Ifeanyi Adeleke. He is the son of his current girlfriend, Chioma Rowland.

Davido is the owner of Davido Music Worldwide [DMW] and Co-owner of HKN. These brands have recruited a handful of talented acts such as Dremo, Peruzzi, Yonda, Mayorkun, and Idowest.

On the 27th of May 2020, Davido’s hit song “Fall” became certified gold in the US and Canada. This song sold over 40,000 copies in Canada and 800,000 copies in the US making this tune an award-winning song.

Davido is also the co-owner of HKN, a popular Nigerian record label he established with his brother, Adewale Adeleke. 

Davido has dropped three studio albums: Omo Baba Olowo (2012), Son of Mercy (2016), and A Good Time (2019). Some of his most famous works are Risky, If, Dami Duro, and Aye.

Davido Endorsements, Awards, Net Worth 

  • Davido has a multi-million dollar deal with SONY musical record label. He also has endorsement deals with big brands, including First Bank, Infinix Mobile, MTN, and Pepsi worth over ₦250 million in total.
  • A complete list of Davido’s assets cannot be started in this article. But we know that Davido owns a private jet, a diamond-encrusted ring, a necklace worth over ₦200 million, two houses in Lekki, and expensive Bentleys, Porsche, and Range Rover cars.
  • Davido is the first solo African artist to shut down The O2 Arena in London with a sold-out concert.
  • Davido was paid $1 million for his 2022 World Cup Performance In Qatar
  • Davido has over 250 music awards.

Davido Net Worth In 2023 – $38 million

Richest Musicians In Nigeria

2. Wizkid – $26 Million [Forbes]

Richest Musicians In Nigeria Right Now [2023 List]
Wizkid – $26 Million [Forbes]

Wizkid is the richest musician in Nigeria this year, as stated in an article released by Forbes. With an estimated net worth of $26 million, Wizkid tops this list as one of the richest musicians in Nigeria for 2023.

Wizkid may not be richer than Davido but there’s no doubt that he is the freshest.

Wizkid is not just the wealthiest songwriter and performing artiste in Nigeria but also one of the world’s most popular and respected African musicians.

Who Is Wizkid?

Ayodeji Ibrahim Balogun, popularly known as Wizkid, was born on the 16th of July 1990. He started his musical career when he was only 11 years old.

Since then, he has recorded tremendous success so far. From international collaboration to record-breaking concerts, multi-award music videos, and record-breaking tunes, Wizkid is one of the most successful Nigerian Musicians.

Wizkid was not born on a bed of roses or handed a silver spoon, he did not become popular in one day. It took years of hard work and dedication to get to where he is now.

Ayodeji Ibrahim Balogun, known as Wizkid, was born in Surulere in Lagos State in 1990. His father, Alhaji Muniru Olatunji Balogun is a Muslim leader who married three wives and had thirteen children.

But this did not influence him at all. Wizkid is a proud Christian. He says he prays and thank God every day and night, regardless of the situation rich or poor.


Wizkid started his music career in a small band called Glorious Five. Glorious Five was a small band made up of Wizkid and a handful of his close friends and neighbors. This was where he released his first collaborative album. 

In 2009, the soon-to-be richest musician in Nigeria, Wizkid was signed to one of the biggest record labels in Nigeria back then, Empire Mates Entertainment (EME).

Empire Mates Entertainment (EME) was founded by Banky W, another rich and famous Nigerian musician. At Empire Mates Entertainment (EME), Wizkid released his debut single tagged “Holla at Your Boy” which was an instant hit.

From the streets of Surulere to towns in Enugu State, this was only the beginning of fame for Wizkid. He went on to release back-to-back hits and received multiple awards in his first year.

In the year 2011, Soco crooner, Wizkid, released his first studio album titled “Superstar.”

After the success of his hard work was seen, Wizkid left Empire Mates Entertainment (EME) and when ahead to start his record label, Starboy in 2013. Starboy soon became his second stage name and his signature catchphrase.

Since then, Starboy has signed and sponsored more than seven recording artists including Mr. Eazi, Maleek Berry, Legendary Beatz, L.A.X, R2bees, Efya, Teni, and Terri.

Wizkid has also been featured by a handful of international musicians and rappers like Beyonce, Drake, Chris Brown, Nicki Minaj, Tinny Tempah, Wale, Akon, and Jay Z

In summary, Wizkid is not just the richest musician in Nigeria, he is an icon, an Afrobeat legend, and one of the most successful African musicians.

He has also influenced not millions of teenagers and upcoming musicians.

Wizkid has a boiling temper and is quick to bite back anytime he senses an attack. He has had beef with celebs like Banky W, Skales, Davido, Dammy Krane, Saeon, Tonto Dikeh, Samklef, and blogger Linda Ikeji.

Wizkid has also dropped three super albums: Superstar (2011), Ayo (2014), and Sounds from the Other Side (2017).  Wizkid now has enough money to afford two houses in the United States, one in Dubai, and three in Nigeria.

Wizkid also has exquisite cars like the Porsche Panamera, 2015 Ferrari GT series, Mercedez Benz, and BMW X6. Wizkid is also one of the wealthiest musicians in Africa.

Wizkid Endorsements, Awards, Net Worth 

  • Wizkid signed a multi-million dollar deal with SONY entertainment, Ciroc, Nike, Dolce & Gabbana, Globacom telecommunication, MTN, and Pepsi. These endorsement deals total up to $350,000.
  • Wizkid was paid $681,200 to perform at a Royal wedding at Umaid Bhawan Palace, India.
  • Wizkid also signed a mega endorsement deal with UBA BANK in 2019.
  • Wizkid became the first Afrobeat musician in the Guinness Book of records
  • Wizkid is the first Nigerian musician to acquire more than a million followers on Twitter
  • Wizkid has bagged over 230 awards in the course of his career

Wizkid Net Worth In 2023- $26 million

Top 20 Richest Nigerian Musicians

3. Burna Boy – $21 Million [Forbes]

Richest Musicians In Nigeria Right Now [2023 List]
Burna Boy – $21 Million [Forbes]

Damini Ebunoluwa Ogulu popularly known as Burna Boy has also been stated by Forbes as one of the richest artists in Nigeria this year. He is also one of the most talented musicians in Nigeria.

Burna Boy is a famous Nigerian singer and songwriter that rose to fame in 2012 after releasing his hit song “Like to Party,” which was the lead single in his debut studio album LIFE (2013).

Being the first Nigerian musician to win a Grammy award, Burna Boy is one of the most talented Nigerian songwriters of all time.

Since 2013, Burna was releasing back-to-back brain-bursting songs until 2019, when he joined the list of Elite artists in the industry, with his hit song “Gbe Body” featuring Zlatan.

Burna Boy’s net worth in 2023 according to Forbes, was recorded to be around $20 million. In 2017, Burna Boy was signed to Bad Habit/Atlantic Records and Warner Music Group. These brands were all international record labels and wanted a piece of Burna.

In 2018, he released his third studio album labeled “Outside” and this was a record-breaker album in his music career.

Burna boy is also an award-winning Nigerian artiste and one of the wealthiest entertainers in the nation. His song has also been known on top billboard charts for up to 6 weeks in more than 13 countries.

It’s no wonder why Burna Boy is on Forbes’s list of richest artists in Nigeria.

Burna boy has many endorsement deals, notably with STAR beer. He has other investments, cars, and even landed properties. In 2019, he won Best International Act at the 2019 BET Awards.

Burna Boy Net Worth In 2023 – $21 million

Richest Musicians In Nigeria [Forbes List]

3. Don Jazzy – $21 Million [Forbes]

Richest Musicians In Nigeria Right Now [2023 List]
Don Jazzy – $21 Million [Forbes]

Don Jazzy is currently the richest music producer in Africa. Don Jazzy was the richest musician in Nigeria until 2017 when he stopped singing due to the stress involved and went into full-time music production.


Don Jazzy has a total net worth of $21 million. Don Jazzy is a hit-making genius and the owner of the biggest record label in Nigeria, Mavin Records.

Mavin Record rose out of the ashes of his defunct label, Mo’ Hits.  Today, Mavin Record is the training ground of Nigerian rock stars and has created superstars like Rema, DNA, Reekado Banks, Korede Bello, Dija, Baby Fresh, Tiwa Savage, and Dr. Sid.

Mavin Records have also been quoted to be worth a whopping sum of $100 million if Don Jazzy is willing to sell of course.

The funny thing about Don Jazzy is that he doesn’t have any song. He is a hit-making producer that can be likened to Dr. Dre. This monster hitmaker has featured hundreds of songwriters across Africa.

Who Is Don Jazzy?

Michael Collins Ajereh is an award-winning music producer and songwriter popularly known as Don Jazzy. He is a Nigerian label owner, brand influencer, record producer, singer, songwriter, entrepreneur, and one of the wealthiest musicians in Africa.

He was born on the 26th of November 1982 in Umuahia, Abia State. He had already mastered how to play different musical instruments before the age of 12. He moved to London in 2000 for temporary residence before coming back to Nigeria to pursue a career in music.

Since 2000 to date, Don Jazzy has produced over 200 songs and albums.

Don Jazzy admitted to being a timid person and worked as a security guard when he migrated to the United Kingdom. Don Jazzy has had beef with D’banj, Wande Coal, and Olamide.

Don Jazzy Endorsements, Awards, And Net Worth

  • Don Jazzy is a brand ambassador of Loya milk, MTN, Johnnie Walker, Samsung Mobile, and other big brands.
  • Don Jazzy doesn’t just have his eyes on the music. He co-founded Flobyt, a popular tech firm based in Nigeria.
  • Don Jazzy also has fuel tankers that he uses to make extra cash
  • Don Jazzy has been awarded producer of the Year [2006, 2007, 2011, 2014], City People Entertainment Awards [2015]…

Don Jazzy Net Worth In 2023 – $21 million

Top 20 Richest Musicians In Nigeria

5. 2Face – $16 Million [Forbes]

Richest Musicians In Nigeria Right Now [2023 List]
2Face – $16 Million [Forbes]

2baba, 2face or Tuface, is another popular Nigerian singer who makes millions daily from his job as a recording artist. 2baba was also listed as the richest musician in Nigeria between 2012 and 2015, beating the likes of Psquare and Don Jazzy.


2baba also tops the list of the richest musicians in Nigeria, with a net worth of a whopping $16 million [Forbes]. 2baba is a living legend in Nigerian music and is undoubtedly one of the most successful musicians in Africa. 

Who Is 2Face?

Innocent Idibia also known as 2Baba, Tuface, or 2face is a famous songwriter and performing artiste in Nigeria. He is one of the oldest musicians in Nigeria with over two decades of songwriting experience.

2Baba was born on the 18th of September 1975 in Jos and was brought to the limelight by one of his best-selling tracks, African Queen. This particular song sold more than 400,000 copies just 8 months after its release.

In 2016, 2Face officially changed its name to 2Baba.  2Baba started his career with Plantashun Boiz but is now the owner of Hypertech media, a renowned record label in Nigeria.

This was where he started his career with his friends, Face, and Black Face. 2Face got married to Annie Idibia in 2012 and he is the proud father of 7 children.

2Baba also has eight successful studio albums, and some of his most famous works are Vote Not to Fight, Coded Tinz, Officially Blind, Oya Make We Go, and Babylon.

2Face Endorsements, Awards, And Net Worth 

  • Aside from the fact that 2Face Idibia owns assets totaling $16 million on Forbes, He also has endorsement deals with Glo, Campari, and Partner Mobile. 
  •  2Baba was awarded an honorary Master of Arts in Music from Igbinedion University.
  • African Queen also topped countless music charts and has bagged 2Baba several awards from the Headies, BET Award, MOBO Award, MTV Award, Channel O Music Video Award, and other national and international awards.

2Face Net Worth In 2023 – $15 millio

Top 10 Richest Musicians In Nigeria

6. Tiwa Savage – $15 Million [Forbes]

Richest Musicians In Nigeria Right Now [2023 List]
Tiwa Savage – $15 Million [Forbes]

Tiwatope Savage, popularly known as Tiwa savage, stands as Forbes richest female Nigerian musician with an estimated net worth of $15 million.

Tiwa is now a worldwide sensation and a role model for upcoming female musicians worldwide and other black children.  Tiwa Savage was born on the 5th of February, 1980.

Her first single “Kele Kele love” was an instant hit, and she has been doing wonders in the industry ever since. Tiwa was also a member of one of the biggest labels in Nigeria, Marvin Records Label. Most of her songs and albums were produced and overseen by Don Jazzy.


Tiwa left Mavins in 2019 for the Universal Music group. Some of her most popular works are All Over, Malo, Eminado, 49-99. She also dances, goes for modeling gigs, acts, and has performed in more than 40 international award shows.

Tiwa has brand endorsements with Maggi, Forte Oil, Pepsi, and Konga. She recently signed a contract with Jay Z music record label worth more than $15 million.

Tiwa Savage Net Worth In 2023 – $15 million

Forbes Richest Musician In Nigeria

7. Olamide – $15 Million [Forbes]

Richest Musicians In Nigeria Right Now [2023 List]
Olamide – $15 Million [Forbes]

When it comes to afro-pop and street flows, Olamide is your guy. Olamide is one of the most popular musicians and songwriters in Nigeria. Olamide is a genius when it comes to writing songs and creating new dance moves.

Olamide has collaborated with other hip-hop artists from Nigeria and other African countries. Not only is Olamide one of the richest artists in Nigeria, but he is also one of the best Yoruba rappers in the country.

Olamide is also the owner of Yahoo Boys No Laptop [YBNL Nation], one of the country’s most renowned record labels. According to Forbes, Olamide has a total net worth of $15 Million. 

Who Is Olamide?

Olamide Adedeji, also known as Olamide Badoo, is one of the richest musicians in Nigeria. Olamide was born on the 15th of March 1989 and tops the list as one of the best Yoruba rappers in Nigeria.

Since he began his music career in 2009 to date, Olamide has released about seven studio albums.

Here are the names of Olamide’s albums and the year they were released: Rhapsodi (2011), YBNL (2012), Baddest Guy Ever Liveth (2013), and Street OT (2014), Eyan Mayweather (2015), and The Glory (2016).

Olamide Awards & Endorsements

Olamide has endorsements contracts with big brands like Guinness extra stout, Monster energy drink, Globacom, 9mobile, and Sterling bank.

Olamide Net Worth In 2023 – $15 million

Most Successful Musician In Nigeria

8. Psquare – $13 Million [Forbes]

Richest Musicians In Nigeria Right Now [2023 List]
2Face – $13 Million [Forbes]

The Nigerian music and entertainment industry would not be complete without mentioning the wonder twins, Peter and Paul Okoye.

Psquare is one of the most prominent artists in Nigeria and has been making good music for close to 2 decades now. Psquare has been featured on Forbes as one of the richest Nigerian musicians in 2023 owning assets worth $13 million.

Although this band has broken up and pursuing their music dreams separately, they are still worth adding to this list. Psquare also ranks as one of the wealthiest twins in Africa.

Peter and Paul Okoye were born on the 18th of November 1981. They started a musical career began in Jos.

They started as a breakdancer and singers. They were so good that they became popular and soon became superstars in Nigeria. Psquare has also released chart-wrecking hit songs like Do Me, Do Me I DO you, E no easy, Chop my money, Personally, Ejeajo, Bring it on.

Before they broke up, Psquare charged as much as ₦15 million per show. They also won a series of musical awards MTV awards, MOBO Awards, KORA Awards, Headies…

Peter Okoye has transformed into Mr. P while his brother Paul goes by the name of Rudeboy.

So, Mr. P and Rudeboy, who is richer? We think Rudeboy is richer than Mr. P.

Although it’s still unclear and we don’t have the answers now. We know that Psquare would have topped this list if they had stayed together. As a team, P-square has won The MTV Europe Music Awards 17 times.

Psquare Net Worth In 2023 – $13 million

Wealthiest Nigerian Songwriter & Producer

9. D’Banj – $10 Million [Forbes]

Richest Musicians In Nigeria Right Now [2023 List]
D’Banj – $10 Million [Forbes]

Oladapo Daniel Oyebanjo popularly known as D’banj was born on the 9th of June 1980, in Zaria, Kaduna State. D’Banj is also one of the richest Nigerian musicians, according to Forbes.

D’Banj is known for experimenting with new music styles, rhythms, and flows. D’Banj has already bagged a lot of awards from Africa, Europe, and America for his Afropop and R&B styles.

D’Banj also came second place in TIN Magazine’s rating of the richest Nigerian musicians. D’banj would have been the richest African musician, but his lack of consistency made him lose his place in the elite spot.

D’Banj has an estimated net worth of $10 million and spends most of his money on cars, houses, vintage decorated rooms, swimming pools, and expensive leather furniture.

D’banj owns a cosmetic company worth over $10,000,000 and several other small startups in other parts of Africa and Europe. DBanj is not too active in music. He mostly oversees his investments in and outside Nigeria.

D’Banj Net Worth In 2023 – $10 million

Top 10 Igbo Musician In Nigeria

10. Phyno – $9 Million [Forbes]

Richest Musicians In Nigeria Right Now [2023 List]
Phyno – $9 Million [Forbes]

Phyno is a Nigerian rapper, songwriter, and record producer who is also among one of the finest musicians in Nigeria. Phyno has been listed on Forbes as one of the richest musicians in Nigeria, with a total net worth of $9 million.

Phyno is one of the fastest rappers in Nigeria and also one of the most famous musicians from the South Eastern parts of Nigeria. Phyno is undoubtedly legendary as his first song, “Ghost Mode,” was a loud banger across Africa.

Chibuzor Nelson Azubuike, popular known as Phyno [short for Phenomena], was born on the 9th of October 1986. Currently, he is also a brand ambassador of Nairabet, Monster Energy Drink, and GLO. Thes deals are worth more than fifty million Naira. Today Phyno has a net worth of just under 10 million dollars.


Phyno Net Worth In 2023 – $9 million

Richest Musician In Nigeria [Top 10]

11. Timaya – $8 Million [Forbes]

Richest Musicians In Nigeria Right Now [2023 List]
Timaya – $8 Million [Forbes]

The Top 20 richest musicians in Nigeria 2023 wouldn’t be correct if Timaya were not included in the list. Timaya is another living legend just like 2Face, MI Abaga, and Naeto C.

Timaya also has a spot as one of the richest Nigerian musicians with a net worth of $8 million. Inetimi Timaya Odon, better known by his stage name Timaya was born on the 15th of August 1977 and has over two decades of music experience.

He has won 4 headies Awards, 2 AFRIMMA awards, and 1 Nigerian Music Award. From plantain seller to Multi-millionaire, Timaya’s life and biography show us the goodness of God in a special way.

Timaya is the owner of the renowned label, Dem Mama records. He has also encouraged Nigerian music by signing young and talented musicians. You should know that Timaya released his first album in the year 2005 tagged “Dem Mama”. His popular works include Ukwu, Balance, Bum Bum, and Sexy Ladies. 

Timaya also has over 50 Million Views on his Youtube channel. Timaya started from a low-income family in Rivers State and rose from grass to grace. Timaya is the brand ambassador to Nigerian Teleco, Glo, and Hennessy Nigeria PLC.

Timaya Net Worth In 2023 – $8 million

Richest Musician In Nigeria [Top 20]

12. Jidenna – $7 Million [Forbes]

Richest Musicians In Nigeria Right Now [2023 List]
Jidenna – $7 Million [Forbes]

Jidenna Theodore Mobisson is another rich and talented Nigerian musician. Jidenna is an Igbo word that means “hold your father.” This popular Nigerian American musician is born to a Nigerian father and an American mother. 

Jidenna Theodore Mobisson, mostly referred to as Jidenna, was born on the 4th of May 1985. He has proudly embraced his culture as an Igbo boy and has been spotted on several occasions moving around the streets of Lagos without bodyguards or any form of security.

In one word, Jidenna is a proud Nigerian, unlike Wale that has refused to accept his Nigerian nature.

Jidenna is one of the richest Nigerian-American songwriters. His rise to fame was almost instantaneous. Jidenna swiftly gained a seat as one of the richest Nigerian musicians after he dropped his hit song tagged “Classic man”. 

He has collaborated with a lot of Nigerian and American artists and even won a series of awards. His album “The Chief” was 36 out of 200 on the billboard. He also won the best new artist at the 2015 Soul Train Music Awards.

Jidenna Net Worth In 2023 – $7 million

Richest Musician In Africa [Top 10]

13. Flavor – $7 Million [Forbes]

Richest Musicians In Nigeria Right Now [2023 List]
Flavor- $7 Million [Forbes]

Flavour is another rich Nigerian musician that found his love for music at a very young age. Flavour developed his passion for music as a young boy when he was a drummer in his local church.

Today, he is perhaps the most popular Igbo musician in Africa. His hit song “Ada Ada” was nominated for several awards and was the most listened song in Nigeria. This song connected him to so many endorsement deals worth millions of Naira.

Flavor Net Worth In 2023 – $7 million

Most Talented Musicians In Nigeria [Top 10]

14. Banky W – $5 Million [Forbes]

Top 20 Richest Musicians in Nigeria
Banky W – $5 Million [Forbes]

Banky W stands as one of the richest musicians in Nigeria. Although he has stopped making music and gone into politics, he still stands as one of the most successful Nigerian songwriters.

He ran for a political office for the seat at the Lagos house of assembly, Eti-Osa Federal Constituency in 2019. Sadly, Banky lost the seat to Babajide Obanikoro of the APC.

Olubankole Wellington was born on the 27th of March 1981. He is a Nigerian American singer, actor, music producer, film producer, event host, public speaker, and politician. He was the one that nurtured big stars like Wizkid, Niyola, Shaydee, and Skales. 

He was born in the United States of America to Nigerian parents. His love for music started at a young age because he was in his church choir.

Olubankole Wellington has found love and is married to one of the most beautiful Nigerian models and actresses, Adesua Etomi. Banky W is the owner of the Empire Mates Entertainment [EME], a renowned record label established in 200.

He also wrote the first theme song of Etisalat Nigeria titled “0809ja for life” and brand ambassador of Samsung, Uber…

Olubankole Wellington is one of the richest Nigerian musicians with a total net worth of $5 Million at the time he stopped making music to pursue his political ambitions in 2018.

Banky W Net Worth In 2023 – $5 million

Richest Rapper In Nigeria [Top 20]

15. MI Abaga – $5 Million [Forbes]

Richest Musicians In Nigeria Right Now [2023 List]
MI Abaga – $5 Million [Forbes]

MI Abaga deserves a spot on the list of wealthy Nigerian Musicians. M.I is the king of Nigerian rap. He doesn’t rap fast, but his flow and lyrics are top-notch. He is also a living legend and has been making top-notch music since 2004.

Jude Abaga was born on the 4th of October 1981, better known as MI Abaga [Mr incredible], he is a Nigerian hip hop recording artist, rapper, and record producer.

MI Abaga is undoubtedly one of the best rappers in Africa and has been hailed by NAS and Jay Z. MI can boast of having one of the best-selling albums in Nigeria, “The Chairman” and “The Movie.” He also has other top-notch playlists like” Rendezvous and “Young Denzel.”

He is the current CEO of Chocolate City. MI has made a name for himself. He is the most awarded rapper in Nigeria with over 20 music awards in MTV Base, The Headies, Malaysian African Entertainments Awards, Hip Hop World Awards, and BETs. He is one of the wealthiest rappers in Nigeria.

Unlike other celebs, MI Abaga is not a show-off. He focuses on private investment, developing young talents, and making cool rap songs.

MI Abaga Net Worth In 2023 – $5 million

Richest Songwriters In Nigeria [Top 20]

16. Yemi Alade – $4 million [Forbes]

Richest Musicians In Nigeria Right Now [2023 List]
Yemi Alade – $4 million [Forbes]

Yemi Eberechi Alade is another rich and famous female Nigerian musician who became a star after she dropped her hit track “Jonny.” She became a nationwide sensation in 2009 when she won the Peak Talent Show.  

Yemi Eberechi Alade was born on the 13th of March 1989 in Abia State, Nigeria. Her father was a Yoruba Man, James Alade, and her mother, Helen Uzoma, is of Igbo descent.

Yemi has worked her way up to become one of the richest female musicians in Africa. She also won MTV African Music Awards for Best Female musician for two years in a role.

Yemi Alade has been nominated for other awards. Her notable songs include Tangerine, Kissing, Shake, Taking Over Me, Temperature, Duro Timi, Na Gode, and Mama Africa.

Yemi Alade Net Worth In 2023 – $4 million

Richest & Best Yoruba Musician In Nigeria

17. Falz – $4 Million [Forbes]

Richest Musicians In Nigeria Right Now [2023 List]
Falz – $4 Million [Forbes]

Folarin Falana, popularly known as Falz, was born on the 27th of October, 1990, in Lagos State, Nigeria. He came to the limelight after his song “Marry Me” went viral, and he has been on a roll ever since.

Falz currently has four studio albums. Falz graduated from the University of Reading, England, with an LLB in Law. Falz is not just a lawyer; he is a Nigerian musician, songwriter, and rapper and also tops as one of the wealthiest rappers in Nigeria.

Falz has worked with a lot of celebrities in the Nigerian music and Movie Industry, including Davido, Maleek Berry, Olamide, Burna Boy, and Ycee. Falz has also starred in Nollywood movies like Merry Men, Tinsel, 10 days in Sun City, and Chief Daddy.

Falz Net Worth In 2023 – $4 million

Richest Musician In Nigeria In USD

18. Kcee – $4 Million [Forbes]

Richest Musicians In Nigeria Right Now [2023 List]
Kcee – $4 Million [Forbes]

Kcee is the elder brother of one of the most respected billionaires in Nigeria, E-Money. Kingsley Chinweike Okonkwo, commonly known as Kcee [Formally Kc Presh].

Kcee is a Nigerian singer and songwriter who also stands as one of the richest musicians in Nigeria. He has worked with other musicians like Harrysong, Skiibii, Davido, and Akoo Nana.

Kcee was also an MTN ambassador and won two Headies awards for his hit song “Limpopo” in 2013. He is one of the richest musicians in Nigeria. You should also know that Kcee is also leaving music production and songwriting to join his brother’s business.

Kcee Net Worth In 2023 – $4 million

Top 20 Richest Musician In Nigeria And Their Net Worth

19. Mr. Eazi – $3 Million [Forbes]

Richest Musicians In Nigeria Right Now [2023 List]
Mr. Eazi – $3 Million [Forbes]

Mr. Eazi is one of the youngest Nigerian artists on the Nigerian Music scene. He also made his money in a very short period. He has also received several awards, endorsements, and a relationship with the daughter of Nigerian Billionaire, Temi Otedola.

Oluwatosin Ajibade, popularly known as Mr. Eazi, also stands as one of the wealthiest Nigerian songwriters. Mr. Eazi was born on the 19th of July 1991. Mr. Eazi is a Nigerian singer, songwriter, and entrepreneur but spent most of his life in Ghana.

He dropped his second mixtape “Life Is Eazi Vol. 1 – Accra To Lagos” on the 10th of February 2017 and became an international sensation. Several outlets reported that Mr. Eazi signed a record deal with Starboy, Diplo’s label Mad Decent, and Universal Music Group.

Mr. Eazi Net Worth In 2023 – $3 million

Top 50 Richest Musician In Nigeria

20. Wande Coal – $1.8 Million [Forbes]

Richest Musicians In Nigeria Right Now [2023 List]
Wande Coal – $1.8 Million [Forbes]

Wande Coal was a rock star before the likes of Wizkid, Patoranking, and even Falz. His lack of consistency made him fall from the Elite spot in Nigerian music. He was really good back then when he was in Mo’Hits.

Wande Coal is a Yoruba songwriter, artist, and one of the richest Nigerian musicians. Oluwatobi Wande Ojosipe was born on the 18th of October 1985. He is the son of Chief Ibukun Olufunto and Omolara Oluwayemisi Ojosipe.

He graduated from UNILAG and pursued his dream as a rockstar. Wande Coal has worked with so many big boys in the Nigerian and American Music industry over the year, including Ikechukwu, Phyno, Don Jazzy, D’banj, M.I Abaja, and even Dj Spinall. 

Wande Coal was also among the first artists in Mavins before he left for his record label, Black diamond. He has also won several awards and has been nominated in several categories.

Wande Coal Net Worth In 2023 – $1.8 million

No matter how rich, talented, and boujee these songwriters seem to be, always try to remember that they are also human beings. If they could make it, so can you.

These are the richest musicians in Nigeria and their net worth on Forbes.

Who Is The Richest Musician In Nigeria?

With a net worth that Forbes estimates to be around $32 Million, Davido is undoubtedly the richest Nigerian Musician in 2023. This great wealth can be attributed to the Adeleke fortune, Music sales, and endorsement deals.

Nigeria boasts some of the most successful musicians and songwriters in Africa. The impact of Nigerian music is felt throughout the world.

Since Nigeria’s indigenous musicians have a very high success rate, tremendous wealth, and great influence, it can be not easy to know who the richest musician in Nigeria is.

How Do Nigerian Musicians Make Their Money?

So, how rich are Nigerian Musicians? And how do Nigerian musicians make money? Before we can grade a musician as wealthy and successful, we must take a peek at how they make their money.

Is their cash clean and gotten from endorsements and partnerships? Or do these Nigerian musicians make dirty money from cultism, ritual, money laundering, or drug pushing?

There answers to these questions have been placed at the end of this post. If you stay with us, you learn more than the names of the richest musicians in Nigeria and see a list of musicians that have been investigated for making dirty money.

All the Nigerian musicians listed below are not just celebrities, and brand owners and also businessmen and women. They have been building their strong fan base using social media and music, which give them fame and a gaping mouth fortune and global recognition. 

This popularity turns to endorsement deals, awards, and international collaborations, which means more money. These wealthy Nigerian singers also have other investments and businesses other than their musical careers.

In general, most Nigerian musicians make money from hosting and performing in concerts and events, selling merchandise, album sale, selling their music, paid collaborations, partnerships, endorsement deals, Youtube Streaming, and even licensing their music.

No matter their source of income, these Nigerian musicians are super-rich and are veterans in the Nigerian entertainment industry.

11 thoughts on “Richest Musicians In Nigeria Right Now [2023 List]”

    1. Okonkwo Emeka Francis

      I’m Francis by name am from Imo State looking for record label and a sponsor

  1. Ohans chidera Godgift

    Am ohans chidera Godgift from dimorji Obokwe Obi-Mbieri Imo State Nigeria, am a song writer and skit/comedy/joke writer. I’ve written up to 26 afro pop songs but am looking for a music label that will sign me up .my contact is 07061513829

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