Top 10 Richest Musicians in Nigeria (2024)

The official list of top 10 richest musicians in Nigeria for 2024, their net worth in Naira and endorsement deals of these wealthy Nigerian male hip-hop artists are contained in this article. It’s not uncommon for musicians to amass significant wealth through the sale of records and merchandise, as well as through touring and other business ventures.

Here is a list of the top 10 richest musicians in Nigeria and their net worth in Naira, based on publicly available information:


Davido is the richest musician in Nigeria at the moment with a net worth estimated at ₦730 million in Naira. His real name is David Adedeji Adeleke. He took the music industry by storm producing interesting songs. He has won series of awards such as the Mobo award, and also emerging the best African Act for the year, beating a field of artists, including Wizkid to get the price.

He is often called OBO, but in 2018 he is known with the popular slang “30 Billion”. Davido recently concluded a 30 billion concert show in which saw the likes of other popular artiste and celebrities in attendance. Let’s not forgot that Davido is the son of one of the wealthiest men in Nigeria, Deji Adeleke. He also owns his own record label which is worth billions of Naira. He is presently signed with world music giants SONY records, known to sign best musicians in the Nigerian music industry like Tiwa Savage, Tekno and Wizkid.

Davido is a rich celebrity who has mansions, cars and series of investments due to his background. He is also a director in his father’s company. As for his shows, he charges from ₦3 to ₦5 million per show. You hardly see him feature on adverts, so we can’t say if he has any endorsement deals. Davido’s net worth in Naira stands at an estimated ₦1.7 billion.

Davido recently showed his father’s private jet which cost him ₦9.7billion. He also bought a ₦45 million car for his current wife, Chioma. Davido got an endorsement from infinix worthy over ₦350 million while Chioma got hers for ₦150 million too.

Most would ask, who is richer between Davido and Wizkid or does Starboy has more money than Davido? You should know that both are wealthy but Davido might just be richer than Wizkid.


He is undoubtedly the second richest artiste in Nigeria this year. Wizkid’s real name is Ayodeji Ibrahim Balogun was recently ranked by Forbes as the most popular African celebrity in Africa in 2022.

Wizkid is the founder and CEO of Starboy music record label. He is an award-winning act who is recognized not only in Nigeria but internationally. His hit songs continue to top the musical billboard chart and have recorded financial success in the musical industry.

Some of the endorsement deals which Wizkid signed that worth millions of Naira and helped him rack up enough wealth are: Being an ambassador for Pepsi, Globacom (top telecom company in Nigeria), MTN deal worth N40 million.

Wizkid has cars, mansions in various countries plus other investment, businesses and assets. He charges 5 million Naira per show and has an estimated net worth of ₦700 million according to Forbes in Naira.


Don Jazzy, is Nigeria’s wealthiest record producer and CEO of Mavin Records. He co-founded Mo’ Hits Records in 2004 which saw the likes of super stars D’Banj, Wande coal, Arya star, Magix, and others excel under him. Under his new record label, he has produced a lot of songs and also talents in the Nigerian music industry.

Don Jazzy real name is Michael Collins Ajereh. He is reported to charge about ₦500,000 or more to produce a song which explains how he makes his money. He has signed various endorsement deals that worth millions of Naira.

Don Jazzy also lives in his own mansion and has numerous cars which explains his rich life-style. He is not yet married as of writing this post and his estimated financial worth is estimated at about ₦650 million in Naira.


Burna Boy, real name Damini Ebunoluwa Ogulu, is another popular artiste in Nigeria that is wealthy with an estimated net worth of ₦600 million in Naira. One of the early pioneers of the Afrobeat genre internationally is the Grammy Award-winning singer, rapper, songwriter, and dancer. After releasing the single “Like to Party” off his debut album L.I.F.E. in 2012, Burna Boy became well-known.

So far this year, Burna Boy has achieved success. His album “Love Damini” has beaten off other contenders to become the year’s top-trending music album. The song “Last Last” is among American rapper Jay Z’s top picks for the year 2022. Last Last by Burna Boy is also among the top-streamed tracks. Additionally, the song is the most popular search on Google.

The single “It’s Plenty” by Burna Boy was declared the most streamed music on Spotify’s Wrapped 2022, according to Spotify. Burna Boy was named an Apple Music Up, Next artist between 2019 and 2022 and won Best International Act at the 2019 BET Awards. He received the African Artist of the Year award at the 2020 Vodafone Ghana Music Awards.

At the 63rd Annual Grammy Awards, Burna’s album Twice as Tall was nominated in the same category. He is the first Nigerian to receive multiple Grammy nominations and awards. Burna Boy made history in 2021 when he became the first Nigerian solo artist to win the Best World Music Album Grammy at the 63rd Annual Grammy Awards.

Due to his popularity, Burna Boy became the first musician from Nigeria to perform in front of a packed house at Madison Square Garden in New York, USA. Reports state that the average cost of the concert tickets, or about $80, is $2250. Burna Boy reportedly bought an eight-bedroom luxury villa in Lekki, Lagos and own many expensive cars.


One of the best male singers in the country at the moment is 2face whose real name is Innocent Ujah Idibia. He was part of the defunct plantashun boiz and had been the richest musician in Nigeria and Africa for so many years before the likes of youngest artiste Davido and Wizkid usurped his position.

The music legend has produced hit tracks which has sold internationally and has topped the charts. African Queen still remains his best song so far as it is still in vogue since its release. 2baba is married to Annie Idibia and has other women outside wedlock who have children for him.

Apart from being a singer-songwriter, record producer, investment wise, he is an entrepreneur. He also has endorsement deals with top organizations in the country which runs in millions. It is rumored that 2Baba charges about ₦2.5 million naira per show. His worth is said to at an estimated sum of ₦550 million which makes him one of the top ten richest musicians in Nigeria.


P-Square are still ranked one of the richest musicians in the country this 2023 even if they split. For those who don’t know about them, here is a brief profile on Nigeria’s most celebrated twins who took the Nigerian music industry to another level since their emergence.

Peter Okoye and Paul Okoye are twin brothers who sang and danced together from the onset before Paul decided to stop dancing and concentrate more on singing. Peter on the other hand choose to do both. They produced and released their albums through Square Records which was managed by their elder brother, Jude Engees.

It was until recently that they both split after some internal family issues and divided their properties among themselves which led to the dissolution of P-square to the abasement of their fans. While they were together, they signed a record deal with Akon’s Konvict Muzik label.

It was said that P-Square charges a whopping ₦8 Million Naira per show. There was once a time they were first on the list. They made real cash and won series of awards. Forbes ranked them among the ten richest musicians since 2014, 2015, and 2016 as the richest twins in Africa.

Apart from singing and dancing at shows, they have other investments which are not made public. It is rumored that both brothers have about 7 cars between them, mansions and even landed properties around the country and were worth about ₦550 million in Naira when they were together which made them still maintain there richest Nigerian musician status plus other endorsements benefits.

This year, Tuface is a richer musician than P-square. But, they are richer than many other Nigerian musicians even though they split.


Olamide Adedeji known by his stage name Badhoo or Olamide is another wealthy Nigerian male rapper and musician and the founder and CEO of popular music record label in Nigeria – YBNL Nation. As for this 2023, he is known to be the richest Nigerian rapper.

Apart from making money through his music which have he sold over 40 million copies worldwide. He makes most of his cash from his collaborations with other musicians and his record label signees and event organization. Olamide is also a brand ambassador and a businessman who has invested heavily in Lagos state.

Olamide signed an endorsement deal with Ciroc worth ₦30 Million. Other deals that he signed include being a brand ambassadors for Guinness worth N80Million, Etisalat deal worth around ₦50 Million which has since being renewed with an additional ₦30 million Naira.

It is said that Olamide net worth in dollars in $6 million as of 2017 but his current financial status shows that he is more than that figure. Apart from the two filling stations and landed properties he has around the country, Olamide charges between ₦2 million to ₦4 million per show.


The sixth richest Nigerian musician in the country is no other person than Phyno. His real name is Azubuike Nelson Chibuzor. He is the current second best rapper in the country who raps and sings in Igbo and English language fluently.

Apart from winning series of awards, Phyno has made a name for himself in the music industry as a top artiste and celebrity. He is built a brand for himself through his songs which sets him apart from other rappers. Phyno rich life style can be seen in his assets and financial worth.

Just like Olamide, Phyno also invested his wealth into fashion, real estate, etc. It is said that the duo can’t be matched in what they do as they have taken the entertainment market by storm by the way they perform on stage. Phyno charges about ₦2 to 3 million Naira for shows and his net worth is estimated to be ₦400 million in Naira.


Chinedu Okoli better known by his stage name Flavour N’abania is a Nigerian male singer, songwriter, multi-instrumentalist and performer.

He started his musical career as a drummer for a local church in Enugu State. He also is a popular musician in Nigeria. The singer is valued at an estimated net worth of ₦400 million Naira, which makes him rank among the richest Igbo musicians in the country. He has many investments in the south eastern part of Nigeria.

Flavour is not yet married but has children by different women, who are regarded as his baby mama’s. This richest Nigerian singer in the country is also a model due to his physique.


Kizz Daniel, also known as Oluwatobiloba Daniel Anidugbe, is a popular Nigerian musician. He is a singer, songwriter, and record producer who has released several successful albums and singles. Kizz Daniel is known for his energetic stage presence and catchy, upbeat music, which often incorporates elements of Afrobeat, pop, and R&B. He has won numerous awards for his music and has a large following on social media and streaming platforms. Kizz Daniel is definitely one of the most popular and successful musicians in Nigeria with an estimated net worth of ₦350 million.

What are your thoughts on our top 10 richest Nigerian musician this 2024 and their net worth in Naira? Use the comment section to air your thoughts.

Mfonobong Daniel

Daniel is an Editor on Nigerian Infopedia who craves for writing, researching and also watching soccer.

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