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Top 20 Richest Musicians in Nigeria – Forbes 2020 and Their Net Worth

In this post, we will show you the Top 20 Richest Musicians in Nigeria 2020 And Their Net Worth. Starting from 20 to count down. These guys rock the Nigerian Music industry.

Music, as we all know, has been paying heavily in Nigeria in recent time hence, an average youth in Nigeria, see music as a fast means of earning wealth, as well as, fame.

However, this is obvious, because quite a number of Nigerian artists have risen from just nothing to becoming eminent in music, and are actually enjoying riches and fame that their peers can only imagine.

That out of the way, a question has risen, as to who is the richest musician among the several Nigerian artists, and what is their net worth in terms of naira perhaps, in US dollars and assets?

Having said that, one cannot actually say he has conclusively arrived at the list of who and who are the richest musicians in Nigeria, nevertheless, I can confidently mention here that, my finding is quite pretty close to identifying who and who are richest music artists in Nigeria.

Discover: 5 Tips to Succeed in the Nigerian Music Industry

Nigerian artists on my list are musicians, who are signing endorsement deal almost on a daily basis and are known by their strong brands.

Nonetheless, most of the Nigerian artists never make public their exact worths in this regard hence, make it little difficult to compile correctly.

However, for those of us who wish to have an idea of the Nigerian top 10 richest musicians, then the top 20 I will give in this article, will give us the cue.

Top 20 Richest Nigerian Musicians In 2020

Top 20 Richest Musician in Nigeria - Forbes 2019 and Their Net Worth
Richest Musicians in Nigeria – Photo Source: https://schoolings.org

We see the posh and flamboyant lifestyle of Nigerian musicians and we cannot help but ask this question” how rich are these Nigerian musicians?

It is not a new thing to see that the music industry in Nigeria is bursting with upcoming music acts who aspire to be like the big shots in the industry.

How is the wealth of these famous Nigerian musicians measured? This is the question that I know most people would definitely ask but what you should know is that there are endorsement and partnership deals and most of these Nigerian musicians engage in other business activities which pretty much sums up their net worth.

If you’re interested in knowing the richest musicians in Nigeria as of 2020 then you are definitely in the right place as this article is aimed at stating in details the richest musicians currently rocking the music industry.

See the 20 Richest Musicians In Nigeria Updated 2020 below

The following are the richest musicians in Nigeria:

20. M.I Abaga ($2 Million)

M.I Abaga is a famous Nigerian rapper, songwriter, record producer and entrepreneur. He is estimated to be worth $8 million and he is reported to be the king of rap music in Nigeria. He is the owner of chocolate city and has won many awards.

19. Mr Eazi ($3 Million)

Oluwatosin Ajibade also known as Mr. Eazi is a Nigerian songwriter, entrepreneur and singer. He was born on the 19th of July 1991 and one of the youngest Nigerian musician to be on the list. He is estimated to be worth $3 million.

18. Falz ($4 Million)

Falz who is the son of Nigerian famous lawyer is also another Nigerian musician that makes the list. He is estimated to be worth $4 million according to Forbes which makes him one of Nigeria richest musicians.

His real name is Folarin Falana and he was born on the 27th of October 1990 in Lagos. He rose to fame with his hit song “Marry me” which went viral and since then he has never stopped climbing the ladder of success.

He is a Nigerian singer, songwriter, rapper, lawyer and actor. He is reported to be one of the richest rappers in Nigeria and he has many endorsement deals to his credit.

17. Kcee ($5 Million)

Kingsley Chinweike Okonkwo popularly known as Kcee is a Nigerian songwriter and singer. He is the brother of Emoney who happens to be a respected billionaire in Nigeria.

He is an award winning artist and became more popular when he released his hit song “Limpopo” which was really a banger. He has worked with many popular Nigerian musicians and he is estimated to be worth $5 million.

16. Yemi Alade ($6 Million)

This is the second female Nigerian musician to make the list as she is estimated to be worth $6 million. Yemi Alade is known for her energetic dance moves and display of her African heritage in her music videos. She has lot of awards to her credit and many endorsement deals.

Yemi Alade took a spot on the stage of fame in 2009 when she won the Peak Got Talent Show. Her popularity grew when she released her hit song “Jonny”.

15. Jidenna ($7 Million)

Jidenna whose real names are Jidenna Theodore Mobisson is a Nigerian American Singer born on the 4th of May 1985. He is estimated to be worth $7 million which makes him one of the richest musicians in Nigeria.

He won best new artist at the Soul Train Music Awards in 2015 and other awards. He has worked with both famous He won best new artist at the Soul Train Music Awards in 2015 and other awards. He has worked with both famous Nigerian and American singers. He also has endorsement deals to his credit.

14. Tekno ($8 Million)

Tekno is also another musician who has made a name for himself as a prolific music producer and musician. He is estimated to be worth $8 million which outrightly gives him a spot in the list of richest musician in Nigeria.

He is an award winning artiste who is known for his sleek dance moves in his music. He also has many endorsement deals.

13. Banky W ($8.5 Million)

This list would be incomplete without mentioning the E.M.E boss. Banky W is a Nigerian singer, songwriter, actor, politician and music producer estimated to be worth $8.5 million which give him a place in the list of richest musicians in Nigeria.

Banky W real name is Olubankole Wellington and he was born in the United States in the year 1981. He is a successful musician with many endorsement deals to his credit. He was reported to have written the Etisalat first theme song “0809jaforlife” and nursed Wizkid to stardom.

12. Tiwa Savage ($9 Million)

Tiwa Savage is the first female Nigerian singer to feature on this list as she is estimated to be worth $9 million making her one of the richest musicians in Nigeria.

Tiwatope Savage was born on the 5th of February 1980. She rose to fame with her hit song “Kele Kele Love” and since then her relevance in the music industry has not faded. She was a member of Marvin Records Label and presently she is signed to Universal Music Group.

She is reported to have signed a multi million dollar deal with JayZ record label and she is the brand ambassador of brands like Pepsi, Maggi, Forte oil, Konga, etc.

11. Flavour ($9.5 Million)

Flavour is also another Nigerian musician that makes the list. He is estimated to be worth $9.5 million which categorically tags him as one of the richest musicians in Nigeria.

Flavour whose real names are Chinedu Izuchukwu Okoli was born on the 23rd of November 1983 in Enugu state. He is a songwriter, singer, model, actor and dancer.

He started off as a drummer in church from a very tender age and graduated to be a famous musician known for his Igbo highlife songs. He practically rose to fame with his hit song “Ada Ada” and has clenched many endorsement deals.

10. Psquare ($10 Million)

When talking about successful veteran in the music industry, the duo “Peter & Paul Okoye ” cannot be left out. They are among the richest musicians in Nigeria and are estimated to be worth $10 Million according to Forbes. They were both born on the 18th of November 1981 in Jos.

Though the music duo are no longer together as they have both gone solo in their music career but their success in the music industry cannot be ignored. They’re both good singers and dancers and have many awards to their credits. Now following their music dream separately as Peter Okoye is now known as Mr. P while Paul Okoye is now called Rudeboy.

Their hit songs include Do Me, E no easy, Personally, Danger, Chop my money, etc. They’re both brand ambassadors and each of them are doing successfully well.

9. Timaya ($10.5 Million)

Timaya whose real names are Inetimi Timaya Odon is a Nigerian singer, songwriter and the founder of Dem Mama Records. He was born on the 15th of August 1977 in Port Harcourt.

His presence in the music industry became known in 2005 when he released hit single “Dem Mama” which was part His presence in the music industry became known in 2005 when he released hit single “Dem Mama” which was part of the tracks on his debut album. He is estimated to be worth $10.5 million according to Forbes making him one the richest musician in Nigeria.

He is a success story as he became a prominent personality from a very poor background. He is the brand ambassador of brands like Hennessy Nigeria Plc, Glo and Teleco.

8. Phyno ($11 Million)

Chibuzor Nelson Azubuike popularly known as Phyno is a Nigerian record producer, songwriter, singer and rapper. He is famous for his smooth Igbo raps and he is one of the richest musician in Nigeria estimated to be worth $11 million according to Forbes.

He was born on the 9th of October 1986 in Enugu state. He started off as a record producer in 2003 but came to limelight with his first song “Ghost Mode”. He is brand ambassador for brands like Monster Energy Drink, Glo and Nairabet.

7. Olamide ($12 Million)

Olamide Adedeji who is famous for his smooth yoruba raps can also regarded as the king of street music. He is popularly known as Olamide Badoo and he is the founder of YBNL Nation record label.

He was born on the 15th of march 1989 in Bariga, Lagos state. He is the one of the richest musician in the Nigeria as he estimated to be worth $12 million according to Forbes.

He has many awards to his credit and he has also signed many endorsement deals with brands like Monster energy drink, Globacom, 9mobile, Sterling Bank and Guiness extra stout.

6. Dbanj ($13.5 Million)

Dbanj who is the CEO of the multi million dollar company Cream Platform worth over $100 million is an award winning Nigerian musician, songwriter and entrepreneur.

Dbanj full names are Oladapo Daniel Oyebanjo, he was born on the 9th of June 1980 in Kaduna. He is estimated to be worth $13.5 million which makes him one of the richest musicians in Nigeria.

He is known for his unique style of singing and most of his songs have been hit songs. He is also a brand ambassador of many brands and he is reported to have fleet of cars and houses both in Nigeria and abroad.

5. 2Baba/2Face ($16 Million)

Innocent Ujah Idibia popularly known as 2Baba or 2Face is a Nigerian songwriter and singer who has carved a niche for himself as a super talented artiste. He was born on the 18th of September 1975 in Jos. He has been around the music industry for quite some time but rose to fame with his hit single” African Queen” which won him many awards.

He is the founder of Hypertech Media and a successful musician to look at for. He is estimated to be worth $16 million according to Forbes and has lot of endorsement deals with brands like Partner mobile, Campari, Glo, etc.

4. Burna Boy ($17 Million)

Burna Boy whose real names are Damilola Ebunoluwa Ogulu is a Nigerian songwriter and musician. He came to limelight with his hit single “Like to party” which was released in 2012.

He hit the international scene when he was signed to Bad habit/ Atlantic Records and Warner Music Group in 2017. He has made a name for himself both locally and internationally as Africa’s giant.

He is worth $17 million according to Forbes and said to have other investments, properties, cars and lots of endorsement deals. He recently won Best International Act at the 2019 BET awards and was also nominated for the 2020 Grammy awards to which he didn’t win.

3. Don Jazzy ($18.5 Million)

Don jazzy is the founder of Marvin Records reportedly worth $100 million dollars. He is a music producer, songwriter, Don jazzy is the founder of Marvin Records reportedly worth $100 million dollars. He is a music producer, songwriter, singer, entrepreneur and brand influencer. He is worth $18.5 million dollars according to Forbes and the richest music producer in Nigeria and Africa.

Don jazzy whose real names are Michael Collins Ajereh was born on the 26th of November 1982 in Abia state, Umuahia precisely. He has signed many artiste to his record label such artistes include Tiwa Savage, Dija, Reekado Banks, Korede Bello, Dr Sid, Rema, DNA ,etc.

He is not only successful as a music producer but also as an entrepreneur. He is the co-founder of Floybt, a famous tech firm. He has won many awards and he is a brand ambassador of many brands such as MTN, Johnnie Walker, Loya milk, Samsung Mobile, etc.

2. Davido ($19 Million)

Davido is another musician that makes the list. He is a big musician both locally and internationally and he is worth $19 million according to Forbes. He rose to fame with his hit single” Damiduro” which was released in 2012.

His real names are David Adedeji Adeleke, he was born on the 21st of November 1992 in Atlanta, U.S.A. He has gained recognition as a prolific artiste and he has many awards to his credit.

He is the son of one the richest politicians in Nigeria which definitely shows that he was born into affluence. However, he is self made as his net worth is from numerous endorsement deals and not his father’s wealth.

Davido is the co-founder of HKN music and the boss of DMW. He has signed many artiste such as Peruzzi, Dremo, Lyta, Mayorkun, Idowest and Yonda to his record label. He has released 3 studio albums in his music career which includes A Good Time in 2019, Son of Mercy in 2016 and Omo Baba Olowo in 2012.

Most of his popular songs includes Blow my mind, Risky, If, Dami Duro, etc. He has worked with international musicians such as Meek Mill, Chris Brown, Popcaan, etc.

He owns many cars, houses and a private jet. He has signed many endorsement deals with brands like Sony, First Bank, MTN, Pepsi, Infinix. He has really carved a niche for himself both locally and internationally.

1. Wizkid ($20 Million)

Wizkid who has become a household name in Nigeria, Africa & Abroad is the richest musician as of 2020. He started his music career at the tender age of 11 with a group called Glorious Five where he released his first collaborative album.

Wizkid whose real names are Ayodeji Ibrahim Balogun was born on the 16th of July 1990. He was born in Surulere, Lagos and had a tough time growing up. He rose to fame under the record label Empire Mates Entertainment (E.M.E) which was owned by Banky W.

His first single “Holla at your boy” which was released in 2010 brought him to limelight and it became part of his first studio album “Superstar” which was released in 2011. Since then he never looked back and has continued in his path to success.

In 2013, he started his own record label”Starboy” and has recorded many hit songs as well as received many awards. He is known as the biggest African artiste and the first Afrobeat artiste to be on the Guinness Book of World Records.

He has also worked with many international artists like Drake, Beyoncé, Tinny Tempah, Chris Brown, Nicky Minaj, etc. He is not only the richest musician in Nigeria but also among the richest musician in Africa.

He has signed many endorsement deals which includes Sony entertainment, Pepsi, Globacom, Dolce & Gabbana, UBA Bank, etc. He has over 230 awards to his credit.

He is reported to have fleet of cars and houses both in Nigeria & abroad and he is also said to earn $350,000 monthly from his Pepsi ambassadorial deal. With all his achievements, one can categorically say that Wizkid is a successful artiste

Exposed: How Do Musicians Make Money In Nigeria?

Conclusion:

From the reliable sources, the above are the Forbes top 20 richest musicians in Nigeria, according to their ranking in 2020. There are many Nigerian musicians who have made a name for themselves in the music industry but the list compiled in this article are the current richest Nigerian musicians.

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