Top 10 Richest Musicians In Nigeria 2023 [Wealthiest!]

2023 is here, and you’ll want an updated list of the top 10 richest musicians in Nigeria, I’m sure. We took care of the task, so you don’t have to worry. Just read, enlighten yourself, and then share your thoughts.

Many people have said that Wizkid is the richest but in the last part of the article, you’ll know the richest musician in Nigeria. Will it be Wizzy?

Who are the wealthiest musicians in Nigeria right now? You’ll discover more about their musical endeavors, achievements, vehicles, residences, and companies. However, I will state this up front: your favorite musician might not be on this list. Are we slick?

Nigeria definitely has an endless amount of musical talent, as shown by their viral content and constantly excellent tunes.

They have been able to succeed financially in their careers through their songs, fee for each performance, endorsements, and private investments.

Just like the top 20 richest musicians in the world, some of the popular musicians in Nigeria are worth a couple of million dollars!

So, we’ve decided to update our top list of the 10 richest musicians in Nigeria, along with their current net worth and a short bio.

NOTE: With even more heights attained by each singer, this ranking keeps changing with time, and we’re here to give you the latest update.

List of Top 10 Richest Musicians In Nigeria 2023

No matter how rich any artist on this list is, it is obvious that success has a price.

The top 10 most wealthy Nigerian musicians are listed below. This ranking was created using data from Forbes, including their endorsements and show fees.

10. Flavor – ₦10 billion ($25 million)

Chinedu Okoli is a songwriter and multi-instrumentalist who can play the drums, guitar, and piano in addition to being a musician. He is one of the most popular musicians in Nigeria.

Flavor specializes in the genres of Igbo highlife, Igbo gospel, and hip hop music. With his second album, ‘Uplifted,’ he established himself as a major performer in Nigeria.

He’s published four albums ever since: Blessed, Thankful, Ijele-The Traveler, and Awele.

He has released a total of 34 singles in his career and is likely to continue to do so, demonstrating his undeniable brilliance.

In one of the 10 inspiring quotes by Flavour, he said: “It is all on you; nobody will do anything for you. It’s tough but you have to accept it.“

As of today, Flavor Nnabani’s net worth is estimated to be roughly $25 Million dollars (N10 Billion Naira), making him the 9th richest musician in Nigeria.

He has worked with other talented music celebrities like Don Jazzy, Wizkid, Tiwa Savage, and many others.

Flavour Car Collection:

He has a:

• Lexus LX 570
• BMW X6 (₦18 Million)
• Land Rover (₦25 Million)
• Black Mercedes Benz G-Wagon (₦40 Million)

9. Asa – ₦11.52 billion ($28.8 million)

Bukola Elemide, better known by her stage name Asa, is one of the richest musicians in Nigeria. She is a Nigerian/French musician who rose to success with her debut single, “Eye Adaba.”

In the year 2007, she quickly released her amazing album “Asa,” which led to her being named the winner of the French Constantin Award in 2008, where she was chosen as the finest new talent among ten singers or groups by a jury of 19 music industry experts in Paris.

She is such a calm and reserved person that she once mentioned that when she is on stage, she assumes a whole different persona.

Asa has received numerous awards, including a nomination for “Best R&B/Pop Album,” “Best Alternative Song,” “Best Vocal Performance (Female),” and “Best Recording of the Year” at the 2015 Headies.

The source of her wealth is majorly music and as of 2023, Asa’s net worth is estimated to be roughly $28.8 million dollars (N11.52 billion Naira), making her one of the top ten richest musicians in Nigeria.

8. D’banj – ₦12 billion ($30.1 million)

Dbanj is no doubt one of the richest musicians nationwide. Most of his hit songs came when he was part of the record label which was a household name in the late 2000s, MO hits record.

So far, he has won The MTV Europe Music Award for Best African Act, MTV Africa Music Sward for Artist of the Year, and more. D banj and Wande Coal used to be under Don Jazzy record label, but that isn’t the case today.

Dbanj is known by many names, “Bangalee”, “The Kokomaster”, “Eja Nla”, “Mr Endowed” and many more, and is considered one of the most influential and popular recording artists of all time. He has an endorsement deal with Nigerian Export-Import Bank (NEXIM), as brand ambassador in 2021.

As of 2023, Dbanj’s net worth is estimated to be roughly $30.1 Million Dollars (N12 Billion Naira), making him the 8th richest musician in Nigeria.

Dbanj Car Collection:

He has:

• Ferrari F430 (₦68 Million)
• Two Aston Martin Vantage (₦50 Million each)
• Bentley (₦108 Million)
• Rolls-Royce Phantom (₦164 Million)
• Range Rover SUV
• Mercedes Benz AMG GT (₦53 Million)
• Harley Davidson Bike (₦2.3 Million)

7. Rude Boy – ₦24 billion ($60.2 million)

Paul Okoye, together with his twin brother, is popularly known as P-Square. He has his stage name as Rudeboy or Kingrudy.

He is the talented twin of Peter Okoye, and they both took the world by storm. But unfortunately, they split up due to various disagreements between the two.

Paul, just like peter started music together and has won several awards. His music lyrics are always on point and his voice is just unique.

Paul’s net worth is estimated to be $60.2 million dollars (N24 billion Naira), as of 2023.

Rude Boy Car Collection:

• He has a Lamborghini Gallardo (₦75 – ₦118 Million)
• Land Rover Range Rover (₦50 Million – ₦82 Million)
• Rolls Royce Ghost (₦191 Million – ₦247 Million)

6. 2Face Idibia – ₦24.5 Billion ($60.7 Million)

This is yet another musical legend in the Nigerian music business with a lengthy and illustrious career. He has many albums to his name.

2face began his career as a member of the Plantashun Boiz before departing from the group to pursue a solo career. His smash tune “African Queen” catapulted him into the international spotlight.

2face has a slew of awards to his name, including one for Best International Collaboration – Rainbow ft. T-pain.

He is now worth 60.7 million dollars (N24.5 billion naira), making him one of the richest musicians in the country.

2Face Car collection:

• He has a Toyota Land Cruiser Prado (₦38 Million)
• Chevrolet Corvette Coupe (₦45 Million)
• Ferrari Coupe (N60 Million)

5. Mr P – ₦25 billion ($63.3 million)

Not just one of the most popular Nigerian musicians, Peter, with his twin, Paul Okoye, has taken his music global and has worked with Rick Ross, Dave Scott, Akon, etc. With a net worth of $63.3 million, and an endorsement deal with different companies, he is deserving of this list of the top 10 richest musicians in Nigeria.

No doubt, he’s a dance lover and he’s super good at rhythmic dancing just like his role model back then – Michael Jackson.

Since the release of “Get Squared”, a hit project which he featured performed in, Mr. P has gathered an impressive net worth of $63.3 million dollars (N25 Billion Naira), making him one of the richest musicians in Nigeria.

At the Headies Award, Peter Okoye and his twin Paul, won a total of three awards, and their net worth speaks volume.

In one of Mr. P’s quotes, he said, “There are pains and gains to stardom, but for now, the gains are greater than the pains.”

Mr. P Car Collection:

• He has a Jeep Wrangler (₦13 Million)
• Bentley Mulsanne (₦125 Million)
• 2 Range Rovers (₦ 50 Million – ₦82 Million)
• Dodge Challenger (₦11 Million – ₦22 Million)
• BMW X6 (₦25 Million)
• Porsche 718 Cayman (₦22 Million)
• Mercedes AMG GL63 (₦45 Million)

4. Burna Boy – ₦26.1 Billion ($65.3 Million)

Burna Boy is one of the highest-paid musicians in Nigeria. He was born on 2 July 1991, and now has many albums to his name.

Burna Boyhas won four awards at the Sound City MVP Awards Festival, including African Artiste of the Year, Listener’s Choice, and Best Male MVP. Many people think Burna Boy was the first Nigerian to win the Grammy, but that isn’t the case.

In fact, he was nominated at the Grammy Awards at the 62nd Annual Grammy and this doesn’t come by chance but by hard work.

Finally, Burna Boy won Best Global Music Album at the Grammy Awards. His album Twice as Tall won the award over records by Antibalas (FU Chronicles), Bebel Gilberto (Agora), Anoushka Shankar (Love Letters), and Tinariwen (Amadjar). The win marks Burna Boy’s first Grammy Award after being nominated last year.

As of today, Burna Boy is worth approximately $65.3 million dollars (N26.1 billion Naira), making him the 4th richest musician on this list.

Burna Boy is one of the wealthiest musicians in Nigeria with over six albums, several songs, endorsements, and record deals to his name.

Burna Boy Car Collection:

• He has Lexus
• Bentley
• Mercedes Benz G Wagon
• 2013 Ferrari 458 Italia
• Rolls Royce Down Convertible

3. Don Jazzy – ₦26.4 Billion ($66.1 Million)

Don Jazzy is a well-known Nigerian music producer who co-founded MO Hits Records and now controls Mavins Records, one of the country’s top ten major record labels. With a net worth of $66 million, Don Jazzy is one of the top 10 richest musicians in Nigeria.

Don Jazzy is a well-known businessman who is well-versed in the Nigerian music industry.

Wande Coal, Dbanj, Tiwa Savage, Johnny Drille, Korede Bello, Ricardo Banks, and more successful artists have come from his record label, and he has the guts to run multiple other enterprises.

Don Jazzy’s ability as a world-class producer led to him being asked to compose beats for Kanye West’s album, which featured both Jay Z and Beyoncé.

As of 2023, Don Jazzy’s net worth is estimated to be $66.1 million dollars (N26.4 billion Naira). Given his greater involvement in music production, Don Jazzy continues to be among the richest musicians in Nigeria.

Don Jazzy Car Collection:

• Bentley Continental (₦25 Million)
• Used Mercedes Benz E350 (₦20 Million)
• Cadillac Escalade (₦27.5 Million)
• Porsche 911 Carrera (₦42 Million)

2. Wizkid – ₦25 Billion ($66.6 Million)

Wizkid is the first Nigerian to have a sellout at the prestigious O2 Arena in the UK, thereby setting the pace for other Nigerian artists. Wizkid is the favorite musician of many Nigerian music lovers as well.

He has broken so many records since he started out at a very young age with his debut single, Holla at your boy, and is one of the first artists to feature star American musicians in his songs including Chris Brown, Beyonce, and Drake.

This is one international superstar musician that we cannot but mention on this list of richest Nigerian musicians.

With this international recognition, would you say Wizkid is the richest? Today, with a net worth estimated to be $66.6 Million dollars (N26.6 Billion Naira), a value that justifies his output to the music world, Wizkid is 2nd, and on the Forbes list of the richest musicians in Nigeria.

Isn’t it amazing, that Wizkid, the Nigerian Afrobeats star won awards at the 2021 Grammys alongside Burna Boy? Wizkid won the Best Music Video for his song with American music star, Beyoncé, ‘Brown Skin Girl, from Lion King: The Gift album’.

More achievement to the Baba Nla, as he is currently a hot cake with class in the music industry worldwide.

In one of the inspirational quotes from Wizkid, he said: “Most of the problems in life are because we misunderstand people’s intentions, we don’t listen and jump to conclusions, and then we are too proud to apologize and too stubborn to forgive” – Wizkid

Wizkid Cars:

• Lamborghini Urus (₦80 Million)
• Porshce Panamera (₦60 Million)
• Mercedes Benz G63 AMG (₦58 Million)
• BMW X6 Crossover (₦9 Million)

1. Davido – ₦28 billion ($70 million)

David Adeleke, popularly known as Davido is the richest musician in Nigeria in 2023, with a net worth of 28 billion ($70 million). Davido is the first musician from Nigeria to perform at a FIFA World Cup.

On account of top-charting smash hits in his super-promising music career, Davido has become one of the greatest music artists in Nigeria, Africa, and the world at large.

The self-pronounced O.B.O (Omo Baba Olowo) and the 30 Billion crooner have got his song titled “Assurance” topping countless music charts worldwide.

He sure wouldn’t mind being added to Forbes list of top 20 richest people in the world, though, he’d have to do more than music, isn’t it?

David has 4 albums with over 32 songs to his name, picking up a plethora of awards both on the domestic and international levels. He is one of the best-selling music artists in Nigeria, Africa, and worldwide.

With his record label, he has signed a couple of successful artists like Mayorkun, Dremo, Peruzzi, and others. He’s definitely not at the peak of his career yet.

In one of the powerful Davido quotes, he said; “If you can’t be a king, build a king”. Davido is a giver, and this has labeled him as one of the most loved musicians in Nigeria.

Today, Davido, with a net worth of $70 million dollars (N28 billion Naira), making him the richest musician in Nigeria.

Davido Car Collection:

• Rolls Royce Cullinan 2019 (₦350 Million)
• Bentley Bentayga (₦108 Million)
• Bentley Continental GT (₦95 Million)
• Porsche Panamera Turbo S (₦23 Million)
• Range Rover Sports (₦87 Million)
• Range Rover SV Autobiography (₦98 Million)
• Chevrolet Camaro GS (₦9.4 Million)
• Audi R8 (₦24 Million)
• Audi Q7 (₦12 Million)
• Mercedes-AMG GLS63 (₦45 Million)
• Mercedes G-Wagon (₦21 Million)
• Land Cruiser Toyota (₦30 Million)

Frequently Asked Questions About The Richest Nigerian Musicians

Here are some quick questions people also ask (FAQS) about Nigeria’s richest musicians:

Who Is the richest between Wizkid and Davido?

Going by the official net worths of these artists, Davido’s net worth is estimated at a staggering $70 million while Wizkid has a total net worth of $63 million.

And there you have your answer that Davido is the richest artist among the two legendary and most successful stars Nigeria has ever produced.

Did Davido own a private jet?

In May 2018, news about Davido owning a private jet started to go viral on the web. Many sources started to call the musician the youngest among private jet owners in Nigeria.

The jet is a Bombardier Challenger 605, priced at $27 million (N9,727,599,015). Furthermore, it requires constant servicing. This facility will cost from $700,000 (N252,197,011) to $4 million (N1,441,125,780) per year.

However, in the summer of the same year, the star has revealed the real owner of the jet, and it is no other than Davido’s father. The musician also added the following: ”Lmao, all of you, what is mine is Imade’s, and what is my father is mine.”

Did Wizkid win a Grammy Award?

Wizkid was nominated twice, for the 62nd and 63rd Grammy Awards.

After Burna Boy, Wizkid became the second Nigerian to receive a plaque. At the 63rd Grammy Awards, held in Los Angeles, California, on March 14, 2021, the Nigerian superstar won ‘Best Music Video’ for his role in ‘Brown Skin Girl.’

He shared the award with Beyonce, who owns the song and has Saint John and Blue Ivy as featured artists.
Jenn Nkiru, who directed the video, would also receive an award.

Does Wizkid Have a Private Jet?

Wizkid who is one of the richest musicians in Nigeria owns a private jet.

Wizkid has been a part of the Nigerian music business for more than a decade and has millions of admirers both at home and abroad. Wizkid has a private aircraft that he uses to fly in for gigs and to hang out with buddies like Phyno.

Is Burna Boy Richer Than Wizkid?

No. Burna Boy has an estimated net worth of $46 million, while Wizkid’s net worth is estimated to be $63.3 Million.

Richest Musicians in Nigeria (Summary)

Here’s a quick recap of the 10 richest musicians in Nigeria:

1. Davido
2. Mr. P
3. RudeBoy
4. Don Jazzy
5. Wizkid
6. Burna Boy
7. 2Face
8. Dbanj
9. Asa
10. Flavour

Did your favorite musician appear on this list of the top 10 richest musicians in Nigeria? Leave a comment below.

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