Who are the richest musicians in Nigeria today as of 2020?
It is obvious that Nigeria has a limitless reserve of musical talents as we’ve witnessed their brilliant songs and viral content, through consistency.
Success in their careers have also brought a great deal of financial incentive for them through their music, charge per shows, endorsements and personal 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 compile a list of the 10 richest musicians in Nigeria along with their current net worth and a short bio.
The 10 Richest Musicians In Nigeria 2020
|Rank||Richest Musicians In Nigeria||Estimated Net Worth|
|#2||Mr P||₦26.6 Billion|
|#3||Rude Boy||₦26.4 Billion|
|#4||Don Jazzy||₦26.1 Billion|
|#6||2Face Idibia||₦14.8 Billion|
|#9||Flavor Nabania||₦10 Billion|
|#10||Burna Boy||₦7.2 Billion|
As much as the net worth of each artist on this list can be, it is obvious they paid the price for success.
Below are the 10 richest Nigerian musicians, as of 2020. We’ve used figures from Forbes, their endorsements, charge per show to compile this list.
10. Burna Boy – ₦7.2 Billion ($18.1 Million)
Burna Boy is one of the highest-paid musicians in Nigeria.
His official music career started when he signed a record deal at Aristokart Records.
Burna Boy has won four awards at the Soundcity MVP Awards Festival, including African Artiste of the Year, Listener’s Choice and Best Male MVP.
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.
As of 2020, Burna Boy is worth approximately $18.1 Million dollars (N7.2 Billion Naira), making him the 10th richest musician in Nigeria.
9. Flavor – ₦10 Billion ($25 Million)
Aside from being a musician, Chinedu Okoli is a Songwriter and multi-instrumentalist capable of playing the drums, guitar, and Piano.
Flavor is a specialist in Igbo highlife, Igbo gospel and hip hop genre of music. He established himself as a top artist in Nigeria through his second album titled ‘Uplifted’.
Ever since then he has released 4 albums namely Blessed, Thankful, Ijele-The traveler and Awele.
Throughout his career, he has released a total of 34 singles and is expected to keep them coming which is evidence of his undoubted talent.
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 2020, Flavor Nnabani’s net worth is estimated to be roughly $25 Million dollars (N10 Billion Naira), making him the 9th richest musician in Nigeria.
8. Asa – ₦11.52 Billion ($28.8 Million)
Bukola Elemide popularly known with her stage name Asa is a Nigerian/French musician whose debut Single “Eye Adaba” opened doors to fame.
She soon produced her magnificent album titled ‘Asa” which opened even more doors as she became the winner of the French Constantin Award in 2008, where she was voted best fresh talent of 10 singers or groups by a jury of 19 music-industry specialists in Paris.
So cool and reserved a person, she once said that when she’s on stage, she puts on an entirely different character.
Asa has won lots of awards which include 2015 Headies nomination for “Best “R&B/Pop Album”, “Best Alternative Song”, “Best Vocal Performance (Female)” and “Best Recording of the Year”.
As of 2020, 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 alive.
7. 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.
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.
As of 2020, Dbanj’s net worth is estimated to be roughly $30.1 Million Dollars (N12 Billion Naira), making him the 7th richest musician in Nigeria.
6. 2Face Idibia – ₦14.8 Billion ($37 Million)
This is another musical icon in the Nigerian music industry whose career is characterized by longevity.
2face started out as part of the Plantashun Boiz leaving the group to go solo. His super hit single “African Queen” gave him a place on the international spotlight.
2face has won enough awards, The Best International Collaboration – Rainbow ft T-pain being one of them.
In 2020, he is worth $37 Million dollars (N14.8 Billion Naira), making him sit on this list of the richest musicians nationwide.
5. Wizkid – ₦25 Billion ($63.3 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.
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 musician.
Today, Wizkid’s net worth is estimated to be $63.3 Million dollars (N25 Billion Naira), a value that justifies his output to the music world, and making him one of the richest musicians in Nigeria.
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 apologise and too stubborn to forgive” – Wizkid
4. Don Jazzy – ₦26.1 Billion ($65.3 Million)
Don Jazzy is a revered music producer in Nigeria and co-founded the famed MO Hits record and currently owns Mavins Record, one of the top 10 record labels in Nigeria.
Don jazzy is a well pronounced business tycoon with great understanding of the Nigerian music industry.
His record label has produced successful artists such as Wande Coal, Dbanj, Tiwa Savage, Johnny Drille, Korede Bello, Rekardo Banks, etc., and he’s got the balls for controlling several other businesses.
Don jazzy’s talent as a world-class producer earned him a call to produce beats for Kanye West for an album that featured both Jay Z and his wife Beyoncé.
As of 2020, Don Jazzy’s net worth is estimated to be $65.3 Million dollars (N26.1 Billion Naira), making him the 4th richest musician on this list.
3. Rude Boy – ₦26.4 Billion ($66.1 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 a talented twin of Peter Okoye, and they both took the world by storm. But unfortunately they split up due to various disagreement between the two.
Paul, just like peter started music together and have won several awards. His music lyrics are always on point and his voice is just unique.
However, since he’s doing music on his own, Paul’s net worth is estimated to be $66.1 Million dollars (N26.4 Billion Naira), as of 2020.
2. Mr P – ₦26.6 Billion ($66.6 Million)
Not just one of the most popular Nigerian musician, Peter with his twin Paul Okoye has taken his music global and has worked with Rick Ross, Dave Scott, Akon, etc.
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 in, Mr. P has gathered an impressive net worth of $66.6 Million dollars (N26.6 Billion Naira), making him the 2nd richest musician in Nigeria.
In one of Mr P quotes, he said; “There are pains and gains of stardom but for now, the gains are more than the pains.”
1. Davido – ₦28 Billion ($70 Million)
Davido has become one of the greatest music artists in Nigeria, Africa, and the world at large on account of top-charting smash hits in his super-promising music career.
The self-pronounced O.B.O (Omo Baba Olowo) and the 30 Billion crooner has 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?
Davido 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 artistes like Mayorkun, Dremo, Peruzzi, and others. He’s definitely not at the peak of his career yet.
And just this week the news came in that his song ‘Fall’ has been certified gold already after receiving 40,000+ and 80,0000+ copies in Canada and the USA respectively.
This makes the song. The first solo afrobeat song to be certified in Africa. In one of the powerful Davido quotes, he said; “If you can’t be a king, build a king”.
Today, Davido has racked up a mammoth net worth of $70 Million dollars (N28 Billion Naira), making him the richest musician in Nigeria.
Richest Musicians in Nigeria (Summary)
Here’s a quick recap of the 10 richest musicians in Nigeria:
- Mr. P
- Don Jazzy
- Burna Boy
Did your favorite musician appear on this list of the top 10 richest musicians in Nigeria? Leave a comment below.
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