Top 10 richest musicians in Nigeria 2024 is a list, brought to you by TheFamousNaija. This list showcases the number of Nigerian musicians, who have made a fortune in the music and entertainment space.
In this article, we bring to you the top 10 richest musicians in Nigeria, and a few things to know about how they started, and their main source of wealth.
1. Davido
Davido, whose real name is David Adedeji Adeleke was born on the 21st of November, 1992. He is a Nigerian singer, songwriter, and record producer.
He rose to fame with his hit single “Dami Duro” in 2011 and has since become a leading figure in Afrobeats. His notable songs include “Fall,” “If,” and “Fia,” which have garnered international acclaim. Davido is also known for his energetic performances and collaborations with artists like Wizkid and Nicki Minaj. In addition to music, he is involved in philanthropy and business ventures, solidifying his status as one of Africa’s most influential musicians.
– Net Worth: Approximately $40 million
– Brand Endorsements: MTN, Guinness, Infinix, and a partnership with the FIFA World Cup. Davido also has his own clothing line and is involved in various business ventures.
2. Wizkid
Wizkid, born Ayodeji Ibrahim Balogun on July 16, 1990, is a prominent Nigerian singer and songwriter. He gained international recognition with his 2010 hit “Holla at Your Boy” and has since become a global ambassador for Afrobeats. His notable songs include “Ojuelegba,” “Come Closer,” and “Essence,” the latter achieving significant chart success. Wizkid is known for his smooth vocals and collaborations with artists like Drake and Beyoncé. Beyond music, he has established a strong brand presence through endorsements and his record label, Starboy Entertainment, influencing the African music scene worldwide.
– Net Worth: Around $30 million
– Brand Endorsements: Nike, Pepsi, and Star Lager. Wizkid’s collaborations with international artists further boost his financial standing, along with his extensive merchandise sales.
3. Burna Boy
Burna Boy, born Damini Ebunoluwa Ogulu on July 2, 1991, is a Nigerian singer, songwriter, and Grammy Award winner. He gained prominence with his 2018 album “Outside,” featuring the hit single “Ye.” His fusion of Afrobeat, dancehall, and reggae has earned him international acclaim. Notable songs include “Gbona,” “Anybody,” and “Last Last,” which showcases his unique style and storytelling. Burna Boy has collaborated with artists like Ed Sheeran and Beyoncé, solidifying his global presence. With a commitment to his Nigerian roots, he continues to elevate Afrobeats on the world stage while advocating for social change through his music.
– Net Worth: Estimated at $25 million
– Brand Endorsements: British Airways, Coca-Cola, and Monster Energy. His global success, including Grammy wins, has expanded his brand presence internationally.
4. Don Jazzy
Michael Collins Ajereh, known as Don Jazzy, was born on November 26, 1982. He is a Nigerian record producer, singer, and songwriter, famous for founding Mavin Records. He gained fame as the producer behind hits for artists like D’banj and Tiwa Savage. Notable songs include “Dorobucci” and “Ova Sabi.” Don Jazzy is recognized for his innovative sound and influence in the Nigerian music industry, alongside successful brand endorsements.
– Net Worth: Approximately $20 million
– Brand Endorsements: Samsung, Pepsi, and more recently, an ambassadorial role for the Nigerian government on youth entrepreneurship. His successful record label, Mavin Records, also generates significant income.
5. P-Square (Peter and Paul Okoye)
P-Square, the twin duo of Peter and Paul Okoye, was formed in 2003. They are known for their infectious blend of R&B, hip-hop, and Afrobeats. The duo gained massive popularity with hits like “Busy Body,” “Chop My Money,” and “Personally.” After a brief split, they reunited and continue to captivate audiences with their dynamic performances. P-Square’s influence on the Nigerian music scene remains significant, both as solo artists and as a duo.
– Net Worth: About $18 million each, totaling $36 million
– Brand Endorsements: Globacom, and they have various ventures including a clothing line. Their reunion has reignited interest in their music and live performances.
6. Olamide
Olamide Adedeji Adegboyega, born on March 15, 1989, is a Nigerian rapper, singer, and songwriter. He gained recognition with his debut album, “Rapsodi,” in 2011. Known for his unique blend of Yoruba and English, his hits include “Wo!” and “Science Student.” Olamide is also the founder of YBNL Nation, a successful record label, and has collaborated with numerous artists, influencing the Afrobeat and hip-hop scenes.
– Net Worth: Estimated at $16 million
– Brand Endorsements: Lagos State Government (as an ambassador for youth initiatives), and a partnership with a telecommunications company. Olamide also has his own record label, YBNL, which adds to his wealth.
7. Mr Eazi
Born Oluwatosin Ajibade on July 19, 1991, Mr Eazi is a Nigerian singer and songwriter known for his unique blend of Afrobeats and Ghanaian highlife. He gained fame with his hit “Leg Over” and has since released successful tracks like “Pour Me Water” and “Money.” Mr Eazi is also an entrepreneur, co-founding the fintech company Pizzy, and has collaborated with international artists like J Balvin and Burna Boy.
– Net Worth: Around $14 million
– Brand Endorsements: Uber, and a partnership with global brands for music and technology initiatives. He also runs a successful fintech company, which diversifies his income.
8. Tiwa Savage
Tiwatope Savage, known as Tiwa Savage, was born on February 5, 1980. She is a Nigerian singer, songwriter, and actress, widely regarded as one of Africa’s leading female artists. Tiwa gained recognition with her debut album, “Once Upon a Time,” featuring hits like “Kele Kele Love” and “All Over.” She has collaborated with global stars such as Wizkid and Beyoncé, and her powerful voice and stage presence have made her a role model in the music industry.
– Net Worth: Approximately $12 million
– Brand Endorsements: Pepsi, MTN, and several fashion brands. Tiwa’s involvement in international projects and her own record label contribute significantly to her income.
9. Flavour
Chinedu Okoli, known as Flavour, was born on November 23, 1982. He is a Nigerian singer, songwriter, and multi-instrumentalist known for his blend of highlife and contemporary music. He gained popularity with his hit “Nwa Baby” and has released successful albums featuring songs like “Ada Ada” and “Time to Party.” Flavour is celebrated for his rich vocals and has collaborated with various artists, contributing to the evolution of Nigerian music.
– Net Worth: Estimated at $10 million
– Brand Endorsements: Hero Lager and various local brands. Flavour is also involved in endorsements for food and beverage companies, leveraging his popularity in the East and beyond.
10. Niniola
Niniola Apata, born on December 15, 1986, is a Nigerian singer and songwriter known for her unique Afro-house sound. She gained fame with her debut single “Ibadi” and has since released hits like “Maradona” and “Bana.” Niniola’s energetic performances and distinctive style have made her a standout artist in the industry. She has collaborated with international acts, helping to promote Afro-house on a global scale.
– Net Worth: Around $8 million
– Brand Endorsements: A partnership with a prominent beauty brand and other endorsements in fashion and lifestyle. Niniola’s unique sound has helped her gain traction both locally and internationally.
These musicians continue to innovate and expand their brands, which influences their financial success. The figures are estimates and can change based on new deals, releases, and market dynamics.
