The Nigerian music industry has come of age, toping Africa and rated one of the biggest in the world. The industry is still growing, contributing significantly to the country’s GDP.
The industry is made up of talented and popular stars who continuously do the country proud, winning laurels and bringing honours to the country and Africa at large.
In this post, we shall bring to you Top 10 Richest Nigerian Musicians and their net worth in 2023 in line with Forbes rating.
We also consider consistency, popularity, awards and net worth in line with the contemporary music genre like Afro-Pop, R&B, Afro-Fusion and Rap. This article is however not about the richest in order of importance, but top 10 richest musicians in Nigeria, 2023 and their net worth.
The Top 10 Richest Nigerian Musicians and their net worth in 2023 are:
- 10. Don Jazzy
Don Jazzy has his real name as Collins Michael Ajereh. He is a music producer, songwriter, singer, entrepreneur and brand influencer and founder of Marvin Records.
He was born on the 26th of November 1982 in Umuahia, Abia state, Nigeria.
The producer has made significant contributions to the music development in Nigeria and has groomed a good number of artists in the industry like Reekado Banks, Tiwa Savage, Rhema among others.
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.
Don has won several awards and brand ambassador of many brands such as MTN, Johnnie Walker, Loya milk, Samsung Mobile, etc.
He has a mansion at Lekki, one at Banana Island, and the third in Los Angeles several good cars.
Don jazzy is the founder of Marvin Records reportedly worth $100 million dollars. He is worth $35 million dollars according to Forbes and the richest music producer in Nigeria and Africa.
- Burna Boy
Burna Boy is a popular Nigerian Afro-fusion singer, a genre that blends Afrobeat, dancehall riddims, reggae, American rap and R&B.
He is also a Grammy Award winner 2023 and the first Nigerian to be nominated back to back in Grammy.
The talented singer made the list of top 10 best musicians in Nigeria 2023 with over 20 awards both national and international, to his credit including:
- Best International Act during the 2019 BET Awards.
- 2023 Grammy Awards and several nominations.
Burna Boy who came to limelight with his hit single “Like to Party” in 2012 has since released good number of albums, some of which are:
- L.I.F.E (2013)
- On a Spaceship (2015)
- Outside (2018)
- The African Giant (2019)
- Twice as Tall (2020)
Burna Boy’s EPs:
- Redemption (2016)
- Steel & Copper (2019)
Burna Boy currently has a net worth of about $17 million dollars according to Forbes.
- Davido
Davido is another famous Nigerian music legend who made the list of top 10 Richest Nigerian musicians 2023.
Davido who was born into affluence has by dint of hard work risen to become a household name in the Nigerian music industry.
The Afro beat singer also made Clacified’s top 10 best musicians in Nigeria in 2023 owing to his creativity, consistency and numerous awards.
Davido made his debut in 2012 with a hit song, “Dami Duro” which was part of his first album ‘Omo Baba Olowo’. He has so far released a good number of hit singles and albums including:
- Gobe
- Skelewu
- One of a kind
- Aye
- Owo Ni Koko
- If
- Fall etc.
- for Omo Baba Olowo (2012)
- Son of Mercy – EP (2016)
- A Good Time (2019)
- A Better Time (2020)
Davido has won several awards, some of which are:
- 2012 Next Rated Awards at the Headies and many others.
He is also very active on social media with large fan base and accredited with at least 3 studio albums and 1 EP.
Davido has made it very big in the industry aside being a son of a billionaire with two mansion in Lekki, Lagos and most expensive cars, Jeeps and other investments across Nigeria and USA.
He is on a net worth of about $45 million dollars according to Forbes rating.
- Wizkid
Wizkid is another Afrobeat singer and top 10 best and most popular Nigerian musician 2023.
Wizkid, who is widely described as a music legend like the late Fela Kuti has attained global recognition with over 60 prestigious awards both nationally and internationally.
Wizkid, was shot to fame and recognition with the debut album ‘Superstar’. He has so far recorded 4 studio albums with one EP:
- Ayo
- Sound from the other side (SFTOS)
- Made in Lagos
- Soundman Vol 1 (EP)
He has also won several awards including the best album of the year at the Nigeria Entertainment Awards.
Wizkid’s hit SFTOS and Made in Lagos made the Number 2 (billboard chart) in US World Albums. It also gained favourable positions in many other foreign Billboard charts.
In 2018, Wizkid became the first Afrobeats musician to make the 2018 Guinness World Records for his contribution to “One Dance” – Drake’s song.
Others are:
- 2017 Best International Act Category
- 2020 BET Awards
- 2023 Grammy Awards.
According to Forbes, Wizkid’s net worth is placed at $38 million dollars.
- 2Baba
2Baba, or 2 Face who made his music journey from music group, the disbanded Plantasium Boiz in 2004 has become a household name in the Nigerian music industry and top 10 Richest Nigerian Musicians in 2023.
The Afro-pop singer who formally changed his name from Tuface to 2baba in 2016 is one of the top 10 Richest Nigerian musicians 2023.
2baba emerged the first winner of MTV Europe, Best African Act Award in 2015 respectively.
2Baba’s 2006 single, “African Queen,” received favourable reviews internationally. It also won Kora Award. Other prestigious awards include:
- 1 MTV Europe Music Award
- 1 World Music Award
- 5 Headies Awards(Hip-hop award),
- 4 Channel O Music Video Awards
- 1 BET award
- 4 MTV Africa Music Awards
- 1 MOBO award
- 1 KORA award and
- 3 Afrima Awards.
2 Baba also made Good Cause Ambassador in 2019 and currently has a net worth of about $13 million dollars according to Forbes rating.
- Olamide
Olamide, also known as Baddo or BaddoSneh, is a famous Nigerian hip-hop genre and the top 10 best and most popular Nigerian musicians 2023.
Olamide also made Clacified’s list of top 10 best Musicians in Nigeria 2023 with several other prestigious awards.
Olamide’s first album, “Rapsodi” released in 2011 brought him to limelight and shot him to greatness in the music scene.
The talented singer has won several awards from The headies, Nigerian entertainment Awards, Nigerian Music video awards etc.
Olamide has released a good number of hit tracks throughout his music career. He is also 2020 Itel mobile Ambassador.
The talented Nigerian singer and Rapper, according to Forbes rating has a net worth of about $14 million dollars.
- Timaya
Timaya has his real name as Inetimi Timaya Odon. He is a famous Nigerian singer, songwriter, and the founder of Dem Mama Records who made the list of the top 10 Richest Nigerian musicians in 2023.
He was born on the 15th of August 1977 in Port Harcourt.
Timaya is exceptionally good in music. His first album was “True Story”, in 2005, was followed by another, “Gift and Grace”.
He has since been a force to reckon with in the music industry. His strong desire to succeed, coupled with hard work made him to achieve a lot within shot time. He currently has his record label (Dem Mama Soldiers).
in Nigeria
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. Timaya has made a big name in the music industry with good number of investments and endorsement deals with big companies across Nigeria.
According to Forbes, Timaya is worth $10.5 million dollars and one of the top 10 richest Nigerian musicians in 2023.
- Banky W
Banky W is the short form of Bankole Wellington. He is a popular Nigerian singer, songwriter, actor, politician, music producer and one of the top Richest Nigerian musicians in 2023.
He was born in 1981 in United States. He is a successful musician with several endorsement deals to his name.
Banky W is happily married to a famous Nollywood actress, Adesua Etomi with an estimated net worth of about $9 million dollars according to Forbes.
- Phyno
Chibuzor Nelson Azubuike is his real name but widely and professionally known as Phyno.
He is a famous Nigerian record producer, songwriter, singer, rapper and one of the Richest Nigerian musicians in 2023.
He was born on the 9th of October 1986 in Enugu State. He started off as a record producer in 2003 but was shot to limelight with his first song “Ghost Mode”.
He has since released good number of hit songs which have earned him huge fortune and fame in the music industry.
Phyno is also brand ambassador for brands like Monster Energy Drink, Glo, and Nairabet.
The talented singer and rapper owns gigantic apartments in Enugu and Lagos and good cars.
He is famous for his smooth Igbo raps and currently one of the top 10 Richest Nigerian musicians with an estimated net worth of about $12 million according to Forbes.
- Peter (Mr. P) and Paul Okoye (Rude Boy)
The duo had a humble beginning in their career on stage while singing and break dancing and eventually rose to the pinnacle of the profession as one of the Richest Nigerian Musicians in 2023.
They have so far won several prestigious awards notably KORA, MOBO awards, .MTV, the Best dancer of the year awards and many others.
They have equally signed multiple endorsements with giant companies in Nigeria including Kia Motors and Olympic Milk and others.
They have so far released good number of hit songs including Do Me, E no easy, Personally,.Danger, Chop my money, etc.
Peter and Paul were once separated which caused a drop in their top-ranking but thanks they are back on their feet again.
According to the Forbes list of richest musicians, P Square and Paul Okoye have an estimated net worth of $13 million dollars each.
To sum up, the above mentioned Nigerian music stars are the top 10 Nigerian Richest musicians in 2023. They are really doing amazingly well in the music industry making huge fortunes, winning laurels and projecting the country’s good image to the outside world.
They will continue to be recognized and celebrated globally.
Thanks so very much for reading about these top 10 musicians 2023. Your comments will also be appreciated.