Who Is The Richest Musician In Nigeria, Top Ten 10 2022

Top 10 richest musicians in Nigeria
(Last Updated On: August 20, 2022)

Who Is The Richest Musician In Nigeria, Top Ten 10 2022; International praise has been accorded to the Nigerian music business. Meet Nigerian singers that have increased their net worth through music in 2022. source, Clacified.com & Whoiswriter.com

Top 10 richest musicians in Nigeria

As one of the nation’s fastest-growing businesses, Nigeria’s music industry has been on a global streaming binge. Additionally, the industry has produced some of the world’s most revered musicians. Riding on the pedestal of global success, the Nigerian-inspired Afro Beats genre has permanently altered the public impression of Africa and Nigerian music in particular.

The rise of the industry may be ascribed to Nigerian performers like Wizkid, Don Jazzy, Phyno, Tuface Idibia, and Davido, among others. This article will list the top ten wealthiest Nigerian musicians in 2022, their Forbes-estimated net worth, and their preferred lifestyle. Some of the musicians on our 2022 list also appeared on our 2021 and 2020 lists of the wealthiest musicians.

Top 10 Richest Musicians In Nigeria 2022



Net worth



$40 Million Est.



$30 Million Est.


Don Jazzy

$20 Million Est.



$20 Million Est.



$18 Million Est.



$16 Million Est.



$15 Million Est.



$12 Million Est.



$11.4 Million Est.



$10.5 Million Est.

Davido $40 Million Est

Nigerian-American In 2022, David Adeleke is the wealthiest Nigerian artist, with an estimated net worth of $40 million. In 2020, Forbes also identified the DMW boss as an Afrobeats superstar. Despite his privileged upbringing, he has earned his position in the music industry with hits like ‘Fall,’ ‘Assurance,’ ‘If,’ and ‘Dami Duro.

Davido’s YouTube videos have an average of 20 million views per video. Davido, the son of one of Nigeria’s wealthiest men, Chief Adeleke, is contracted to Sony Records, a firm that also houses Tiwa Savage and Tekno, among others. The Afrobeat star is undoubtedly one of Africa’s most prominent musicians. Davido’s financial skills in the music industry earned him a spot on the 2018 Forbes Africa 30 Under 30 list. He is currently one of the most popular musicians in Africa and the world.

He has signed numerous successful artists to the DMW record label, including Mayorkun, Dremo, Peruzzi, and others. Davido has received several prizes since his ascent to prominence, including BET and MTV awards. Additionally, he has inked sponsorship deals with MTN and Guinness Nigeria, appealing him to additional brands and enhancing his financial portfolio.

On April 6, 2012, David inked a sponsorship contract for N30 million with MTN. On October 24, 2013, he secured a multimillion-dollar contract with Guinness for the “Guinness world of more concert.” On May 9, 2018, Davido struck an endorsement contract with Infinix Mobile. In 2021 (€12 million), David became the brand ambassador for Martell Cognac. David is the Playstation brand ambassador. The agreement was announced on March 14, 2022.

Davido reportedly has two opulent properties: his mansion in Banana Island, Lagos, which is estimated to cost 350 million; and Rolls Royce Cullinan 2019 (350 million). Bentley Bentayga (108,000,000) Bentley Continental GT ($95,000,000), Range Rover SV Autobiography ($98,000,000), and Toyota Land Cruiser ($30,000).

According to rumors, David’s concert fees do not fall below $10 million. His principal source of income is his music and endorsements, which have enabled him to amass a net worth of $40 million.

Davido, Top 10 richest musicians in Nigeria

Wizkid $30 Million Est

According to statistics, Wizkid is the second wealthiest musician in Nigeria with an estimated $30 million as of 2022. The afrobeat musician and father of two is the first Nigerian to sell out the 02 arena for three consecutive nights. Since releasing his first hit, Holla at your boy, he has shattered numerous records.

Wizkid’s musical prowess led him collaborations with foreign artists such as Canadian rapper Drake in 2016 (One Dance), which reached the Guinness Book of World Records as the single with the most streams on Spotify. ‘Brown Skin Girl,’ his collaboration with Beyonce from her ‘Lion King: Gift’ album, earned a Grammy for Best Music Video.

In 2021, his blockbuster album “Made In Lagos” had phenomenal popularity, and his single “Essence” featuring Tems topped the charts worldwide. Essence was nominated for a Grammy for Best Global Song of the Year, but Angelique Kidjo won the prize.

Numerous sponsorship deals have contributed to Wizkid’s enormous financial success and wealth. Wizkid became a brand ambassador for Ciroc in 2018. Wizkid signed endorsement deals with Pepsi, Guinness, and Techno. Wizkid was also named a brand ambassador for MTN, GLO, and UBA.

Wizkid owns a luxury property in Surulere, Nigeria, valued at approximately N13 million, as well as one in Los Angeles, California, United States. BMW X6 crossover (8.7 million), Porsche Panamera (50.8 million), Lamborghini Urus (80 million), and Used Mercedes Benz G63 AMG (55 million to 65 million) are among Wizkid’s car collections.

Wizkid, Top 10 richest musicians in Nigeria

Don Jazzy $20 Million Est

Don Jazzy, also known as Michael Collins Ajereh, is the third wealthiest artist in Nigeria. The renowned producer, record label owner, and singer has established himself as an authority in the music industry. Don Jazzy, the CEO of Mavins Records, is reportedly worth an astounding $20 million, which has affected his lifestyle choices and preferences.

After co-founding Mo-hits records with Oladapo Daniel Oyebanjo, better known by his stage as Dbanj, his musical career gained momentum. The Mo-hits records’ top artists Wande Coal, D’prince, and Dr siri were instrumental in the label’s musical success.

However, things turned sour and the Mo-hits band disbanded. Regardless, the conclusion of Mo-hits marked the start of something greater. Don Jazzy’s personal record label MAVIN RECORDS was established on May 7, 2012. The record company has enjoyed tremendous success with musicians such as Ayra Starr, Rema, Crayon, Ladipoe, Magixx, Korde Bello, and Johnny Drille.

In reality, before joining the Universal company, Tiwa Savage was the first Queen of Mavin records. Don Jazzy has won honors including Producer of the Year for the song “Over the Moon, Pop Something” and Mr. Endowed at the 2011 Headies.

He also received the City People Entertainment 2015 and Producer of the Year awards for the song “Dorrubucci” at the 2014 Headies. Based on Don Jazzy’s standing as the wealthiest musician in Nigeria, the Mavins CEO has spared no expense when it comes to his car and house collections.

Don Jazzy’s Cars include a 2016 Cadillac Escalade (N40 million), a Bentley Continental Flying Spur (N90 million to N120 million), a Range Rover Sport (N67 million to N80 million), and a Porsche 911 Carrera (N1.9 million to 68 million).

Don Jazzy, Top 10 richest musicians in Nigeria

Burna Boy $20 Million Est

Burna Boy, also known as Damini Ebunoluwa Ogulu, is the fourth wealthiest artist in Nigeria in 2022, with a net worth of $20 million. He was one of the wealthiest artists on the list in 2021 and 2020. The Grammy-winning singer, rapper, songwriter, and dancer is one of the global pioneers of the Afrobeat genre. Burna Boy, a native of River state, rose to national prominence in 2012 after releasing “Like to Party” off his debut album L.I.F.E.

Burna Boy won Best International Act at the 2019 BET Awards and was announced as an Apple Music Up, Next artist between 2019 and 2022. He was recognized as African Artist of the Year at the 2020 Vodafone Ghana Music Awards. Burna’s album Twice as Tall was nominated for the same category at the 63rd Annual Grammy Awards, making him the first Nigerian to receive consecutive nods.

A first for a Nigerian solo artist, Burna Boy won the 63rd Annual Grammy Award for Best World Music Album in 2021. The “Odogwu” singer’s first song from his forthcoming sixth studio album “Love, Damini” landed at number one on the UK Afrobeats chart with “Last last.”

Burna Boy is the only artist in the history of the globe to have two number-one singles. The song ‘Last Last’ is available on additional streaming services, with over 4 million Spotify listens. Burna Boy became the first Nigerian musician to headline a sold-out show at Madison Square Garden in New York, United States, in April. Each concert ticket cost a minimum of $80, with an average price of $2250. According to reports, Burna Boy earned N3 billion from the program.

According to rumors, the “Kill dem” singer purchased an extravagant property with eight bedrooms in Lekki, Lagos. Burna Boy Range Rover Autobiography (N26 million to N38 million), 2022 Lamborghini Urus Novitec Edition (N332million), Burna Boy 2013 Ferrari 458 Italia (N120 million), and Burna Boy Rolls-Royce Dawn Convertible (N120 million) are among the singer’s pricey automobiles (N125 million).

Burna Boy, Top 10 richest musicians in Nigeria

Tuface Idibia $18 Million Est

As of 2022, Innocent Ujah Idibia, also known as 2Baba and 2Face, is the fifth wealthiest artist in Nigeria, with an estimated net worth of $18 million. He was also in our 2021 list of the top 10 wealthiest musicians in Nigeria. 2Face, a native of Benue State, has become one of Nigeria’s most iconic Afropop musicians.

He began his career with the ensemble Plantashun Boiz before going solo. The African Queen singer was signed to Kenni’s Music, where he launched his debut album, also titled African Queen. The song African Queen propelled him to stardom in 2004. Since then, 2Face has continuously created a name for himself in the music industry with singles like ‘Amaka,’ ‘Oyi,’ etc.

In addition, he has received seventy honors, including MTV Music Awards, Headies, and BET Awards. 2Face is the proud owner of luxurious homes in Ikeja, Festac, Lagos Island, and the United States. The ‘Amaka’ singer does a good job of keeping quiet about the fleet of automobiles he has.

2Face Idibia’s automobile collection includes a Ferrari Coupe, a Toyota Land Cruiser, and a Chevrolet Corvette Coupe. The autos cost (142million-177million) in total.

Tuface Idibia, Top 10 richest musicians in Nigeria

Psquare $16 Million Est

Peter and Paul Okoye have an estimated combined net worth of $16 million, making them one of the wealthiest couples in the country. The twin musicians achieved fame after forming their Psquare duo. Peter and Paul were born in Jos, Plateau State, in November 1981. They released an album titled “Last Night” in 2003. This album was dubbed their “breakthrough.”

P-square was thriving back then, charging up to 15 million naira for a concert. They had already reached an incredible level of success in the music industry before their relationship deteriorated and they split ways.

When the duo split up in 2016, they went by different aliases, Mr. P and Rudeboy. Their older brother Jude Okoye A.K.A. Engees was involved in their contentious breakup. According to accounts, he was fired from his position as their manager after they parted ways. After nearly six years of feuding, the duo reconciled and recorded a song together last year.

Mr. P owns a stylishly equipped apartment in Banana Island, Lagos, which is valued at N1.5 billion. He also has an expensive array of Cars, including a Range Rover (50 million to 82 million), a G Wagon (N70 million to N180 million), a Dodge Challenger (N8 million to N36 million), and a Porsche 718 Cayman (N8 million to N36 million) (N36 Million-N62 Million)

Rudeboy’s Houses and Cars are located at Parkview Estate, Ikoyi, Lagos, Nigeria. He also owns a number of luxury automobiles, including a Bentley Bentayga (N80 million to N170 million), a Mercedes-Benz GLE43 AMG 4MATIC Coupe (N36 million to N90 million), a Lamborghini Aventador Roadster (140 million to 282 million), and a Lamborghini Huracan (80 million to 120 million).

Psquare, Top 10 richest musicians in Nigeria

Olamide $15 Million Est

Olamide Adedeji, also known as Baddo Sneh, is the seventh wealthiest artist in Nigeria in 2022, with an estimated net worth of $15 million. Olamide was born in Bariga, Lagos State, on March 15, 1989. The fact that the indigenous rapper sings predominantly in his native language Yoruba has endeared him to the streets.

Olamide began his musical career with the Coded Tunes label, but he now operates YBNL Nation, a record label that produces musicians such as Asake, Fireboy DML, Jayboi, and others. Olamide’s music rose to notoriety in 2012 after the release of his single Eni Duro. His 2011 album, Rapsodi, won him an additional industry point.

Rapsodi’s second album, YBNL, featured several singles that gained him additional prominence in a short time. The singer of “Anifowose” has released 10 albums and over 40 EPs. In the Nigerian music industry, he has won multiple honors, including Best Indigenous Artist and Album of the Year.

Recently in 2021, he collaborated with the street musician Portable on his song ‘Zazoo Zeh.’ The song has gained praise and admiration on a national scale. Olamide has also suggested that his upcoming album may be his last. He stated that he is applying the last touches to make it “the greatest.” Following the release of ‘Unruly,’ the rapper stated he would only release singles in the future.

Homes and automobiles owned by Olamide; Olamide owns two opulent properties in Lekki and Bariga, Lagos. His garage is also full of luxury automobiles, including the following: Range Rover Sports (N15 million), Mercedes-Benz G Wagon (N23 million), Range Rover Sports V8 (N84 million to N90 million), Toyota Venza (N6 million), and Rolls-Royce Phantom (N204 million).

Olamide, Top 10 richest musicians in Nigeria

Phyno $12 Million Est

Azubuike Nelson, also known as Phyno, is the eighth wealthiest artist in Nigeria in 2022, with an estimated net worth of $12 million. The native of the state of Anambra initially desired to become a physician, but his musical skill ultimately won out.

Since 2003, when he began his music career, Phyno has served as a producer for such notable artists as Flavour, Timaya, Mr. Raw, among others. Phyno and Olamide Baddo share a similarity: they both rap in their native tongue. Additionally, they are close friends.

Phyno is a multiple-award winner, including best song of the year and best collaboration. He also has musical collaborations with Flavour on the song ‘Doings’ and DJ Kaywise for the 2020 release of the banger ‘Highway’. At the end of 2020, Phyno released the official music video for his song ‘For The Money,’ which featured Perruzi. ‘For The Money’ was released shortly after his debut single in 2020, ‘Never.

In 2018, he made his acting debut in ‘Lionheart’ by Genevieve Nnaji. Phyno secured sponsorship agreements with Nairabet, Nigeria breweries, Airtel Telecommunications, and others.

He is the delighted owner of a million-naira flat duplex on Chevron Drive. The condo apparently has three bedrooms and cost around N170 million. Reportedly, Phyno owns a N70 million mansion in Enugu, his hometown. He also has a fleet of showy Cars. Bentley Continental GT (N73,7 million), Rolls-Royce Phantom (N170 million), Toyota Avalon (N13 million), and Range Rover sport (N90 million).

Phyno, Top 10 richest musicians in Nigeria

Timaya $11.4 Million Est

On August 15, 1980, Inetim Timaya Odom, also known as Timaya or “plantain boy,” was born. With a net worth of $11.4 million, he is the ninth-richest Nigerian musician. Tina’s career began with a band named ‘Dem Mama Soldiers. He released “True Story” in 2007. True Story was quickly followed by other major songs such as ‘Gift and Grace’ and his third album, De Rebirth.

Timaya, age 41, is the chief executive officer of the DM record company, for which he signed King Perry. Additionally, Runtown and Partoraking were signed to the label. Timaya’s home and automobiles. Timaya currently has a luxurious property in Lekki, Lagos State, valued at 250 million. The musician never fails to flaunt himself, notably with his multicolored Mercedes G-Wagons that previously went popular on social media.

Timaya possesses an exceptional collection of automobiles, including a Mercedes-Benz GLE (20 million to 22 million), a Bentley Continental GT (76 million), a Lexus LX570 2015 (29 million to 39 million), and a Mercedes-Benz G55 AMG (60 million to 85 million).

Timaya, Top 10 richest musicians in Nigeria

Asa $10.5 Million Est

Asa Bukola Elemide, also known by her stage name Asa, is a Nigerian-French musician who rose to prominence with her debut hit “Eye Adaba.” Her album “Asa” earned her the 2008 French Constantin Award, out of ten performers selected by a panel of 19 music industry professionals in Paris.

At the 2015 Headies, Asa received nominations for “Best R&B/Pop Album,” “Best Alternative Song,” “Best Vocal Performance (Female),” and “Best Recording of the Year.” In 2022, following a little sabbatical, Asa released her new album “V.” Asa has a secluded existence and has kept her business a secret, thus her automobiles and residences are unknown. Currently, Asa is estimated to be worth $10.5 million.

Asa, Top 10 richest musicians in Nigeria

In Conclusion

Above are the top 10 richest Nigerian musicians base on there net worth and asset worth. However, their are many rich musicians out there, but we came up with the popular and known artist, as some artist keeps their asset and net worth private to them.

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