Top 10 Richest Musician in Nigeria 2024 [With Networth]

Richest Musician in Nigeria 2024

Nigerian music occupies a significant position in world music. This article lists the richest musicians in Nigeria, with prominent singers earning so much money that it is now a multi-trillion-naira industry and one of the highest-paying jobs in the country. There are a lot of talented musicians in the Nigerian music industry who have been recognized for their exceptional songs and craft. In addition to providing them with financial rewards, these artists’ success has significantly aided the country’s music industry’s expansion. Many of Nigeria’s best musicians have gained international fame through streaming platforms, accelerating the country’s music industry’s rapid growth. The Afro Beats subgenre, which is deeply ingrained in Nigerian culture, has contributed to broadening the public’s understanding of African music. Several musicians stand out as the wealthiest and most prominent figures in the industry, even though many of them have achieved great success.

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Wizkid

With a $30 million net worth, Wizkid is Nigeria’s richest musician. Tours, endorsements, and music royalties make up most of his income. Wizkid is Nigeria’s richest musician and the first Nigerian to sell out the 02 Arena in London for three nights in a row. Wizkid has broken several national and international music records since the release of his debut single, “Holla at Your Boy,” in 2010. He is widely regarded as one of the most beloved African musicians. 

Davido

David Adedeji Adeleke, known as Davido, is a phenomenal Afrobeat musician. Time Magazine ranked him among the world’s top 100 most influential people in 2021. The MTN endorsement deal, Guinness Nigeria, Sony Music, Infinix mobile, and other music and endorsement projects account for the majority of Davido’s $29 million net worth. Additionally, Davido earns as much as 10 million per performance in Nigeria and $30,000 for international performances when he performs in local and international events.

Asa

Bukola Elemide, better known by her stage name Aa, is a well-known Nigerian-French singer, songwriter, performer, and recording artist who never fails to enchant listeners with the sincere melodies she sings. Asa is a Nigerian-French musician who became famous with her debut single, “Eye Adaba.” She is the tenth-richest musician in Nigeria. She was awarded the 2008 French Constantin Award in Paris for her album “Asa” by a panel of 19 professionals from the music industry. Asa has released five studio albums, two live albums, and 11 singles altogether. She is the fourth richest singer in Nigeria, with a staggering $28 million in assets.

Don Jazzy

Collins Michael Ajereh, more commonly referred to as Don Jazzy, is a musician, entrepreneur, and music producer. He is thought to have $18 million in the bank. Over three decades, Don Jazzy has established himself as the third richest musician in Nigeria and amassed a net worth of $18 million. Don Jazzy’s co-founding of Mo-Hits Records with Oladapo Daniel Oyebanjo, also known as Dbanj, significantly contributed to his wealth accumulation.

Burnaboy

Burna Boy, known as the African Giant and without a doubt a significant musician in Africa, is one of Nigeria’s wealthiest musicians. Burna Boy, the most streamed Nigerian artist after Rema and the first Nigerian to receive consecutive Grammy nominations, has a net worth of 17 million USD, making him the fourth richest musician in Nigeria.

2Baba

2Baba is one of Nigeria’s wealthiest musicians and one of the most influential artists. He is Innocent Ujah Idibia in real life. Before signing with the Kennis Music Record Label, he was a member of the band “Plantashun Boiz.” A multimillion-naira music studio was donated to the Faculty of Music at Obafemi Awolowo University, OAU, in Ile Ife, Osun State, in 2022 by 2baba, a music superstar who achieved worldwide fame with his 2004 song African Queen.

Psqaure

Peter and Paul Okoye, the Psquare, are among Nigeria’s wealthiest musicians, with an estimated $16 million in combined wealth. The twin musicians became well-known after forming the Psquare combo. When discussing successful music industry veterans, the duo “Peter & Paul Okoye” cannot be ignored. The single “Senorita” was P-first Square’s biggest hit, and it was followed by several other hits that made them famous all over the world.

Olamide

Olamide is Nigeria’s most popular artist and one of the wealthiest musicians. Olamide Adedeji is a Nigerian Yoruba from Lagos. Olamide, who has a net worth of $12 million and is known for his street hip-hop and Yoruba rap styles, is Nigeria’s eighth-richest musician.

Dbanj

Dbanj is one of the most successful musicians of his generation and one of Nigeria’s wealthiest musicians. Using the harmonica of his late older brother, the singer got his start in music. He is 10th on the rundown of the main 10 most extravagant performers in Nigeria.

Phyno

The sensational rapper Phyno completes the list of the richest musicians in Nigeria. He is well-known for his Igbo-rapping. Phyno has dabbled in film acting and music production since his debut in 2003. The estimated value of Phyno’s wealth is $10 million.

Who is the Richest Musician in Nigeria 2024?

Wizkid, born Ayodeji Balogun, is a Nigerian singer and songwriter who has become one of the biggest names in the Nigerian music industry. As of 2024, he is widely considered to be the richest musician in Nigeria, with a net worth estimated to be over $50 million.

Wizkid’s success has been driven by his unique blend of Afrobeats, R&B, and hip-hop, which has resonated with audiences not just in Nigeria, but around the world. He has won numerous awards, including multiple BET Awards and a Grammy Award, and has collaborated with some of the biggest names in the music industry, including Drake, Beyoncé, and Skepta.

In addition to his music career, Wizkid has also been involved in a number of lucrative business ventures, including endorsement deals with major brands like Pepsi and Nike. He also owns a record label, Starboy Entertainment, which has produced several successful artists.

Despite his massive success, Wizkid remains humble and focused on his craft, continually pushing the boundaries of what is possible in the Nigerian music industry. His impact on the Nigerian music scene is undeniable, and his success is a testament to the power of hard work and determination.

Nigerian Music

Nigerian music in world music takes a significant place. Numerous styles of folk music are associated with the numerous ethnic groups in the country, each with its techniques, instruments, and songs, making up the majority of Nigeria’s popular folk music. Despite the discovery of bronze carvings depicting musicians and their instruments from the 16th and 17th centuries, little is known about the country’s music history before European contact. Indigenous, Apala, Ogene, Fuji, Jùj, Afrobeat, Afrobeats, Igbo Highlife, Afro-juju, Waka, Igbo rap, Gospel, and Yo-pop are the nation’s most internationally renowned musical styles.

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