Nigeria is one of Africa's most populous countries, and it has been blessed with different kinds of talent. Across the country, the music industry has been churning out some of the very best musicians. These talented musicians have become some of the biggest stars and celebrities in Nigeria and across the world. Music has projected numerous young and dedicated Nigerian music talents from grass to the life of luxury. This article contains a list of the top 10 richest musicians in Nigeria.
11. Banky W
Olubankole Wellington, popularly known as Banky W, is a top African musician and a great actor. He was born in the United States but later returned with his parents to Nigeria, where he had his basic school. He decided to move back to America to have his higher education and later returned in 2002 when he began his earnest music career.
In building a career out of music, the music star started up his music Label along with his long time friend Tunde Demuren which they called the Empire Mates Entertainment (E.M.E.). That Label was super instrumental in bringing up the world-famous Star Boy Wiz Kid. Banky has had a successful career that has seen him release five studio albums and has been featured in numerous other big stars across the country.
Banky has also tried out acting and has starred in the popular 'Wedding Party' movie, a movie set he reportedly met his beautiful wife, Adesua Etomi. Banky W is now going political and has even contested for a position in the nation's House of Representatives last year even though it was unsuccessful. He has bagged a lot of awards in the R&B music category since 2006. Banky W has not only conquered the music industry but has done that with several awards to back his claim as one of the greatest musical acts to come out of the country. He has an estimated net worth of $9 million (₦3.51 Billion).
Chibuzo Nelson Azubuike, the music star popularly known as Phyno, was born on 9th October 1986. His stage name, Phyno, was reportedly coined from the word "Phenomenal, " highlighting his taste and brand of music. Phyno is a man with different talents that even extends to the academic world. He has a degree in Public Admin, but here he is, a very successful musician. His estimated net worth is $10 million (₦3.86 Billion).
In 2003, Phyno began his musical career and has remained a very successful producer. Crafting exciting music beats for top musicians like Flavour, Mr Raw, and Timaya mentions just a few. He is the boss of Penthauze, and he has so many albums to his name and collaborations with top music stars in Nigeria.
Phyno comes from a family of five in Anambra State. He is the fourth child with an only brother and all elder sisters. He was raised at Enugu State, where he completed his schooling and started his music career. He is a very close friend of Olamide Baddo, as they both carry the pride of their local identities being the Igbo and Yoruba languages, respectively. Phyno has got about five proper awards like the best collabo, song of the year awards, and others amidst many nominations in different musical categories.
9. Burna Boy
Damini Ebunoluwa Ogulu, the heavy Yoruba language crooner, popularly known as Burna Boy, is Port Harcourt boy. He is an indigene of Mbiama in Ahoada West L.G.A. of Rivers State. He was born in his home state of Rivers, Port Harcourt, precisely before his parents decided to relocate to Lagos.
His parents' relocation was possibly the best move for Burna's music career, as the biggest names and best resources are domiciled in Lagos. So it made it super easy for Burna to sign his first deal with Aristokrat Records. He released his first studio album titled the L.I.F.E. Burna Boy would release three more Albums and mixtapes after leaving Aristokrat Records for Spaceship Entertainment, a Record Label he founded in 2015.
His music career has been a super success with the young man making global waves and is currently Nigeria's hottest international music export. He only recently lost the 62nd Grammy Award to Angélique Kidjo in January but still clinched some really big personal awards in the year just ended. His estimated net worth is $10 million (₦3.86 Billion)
Initime Alfred Odom, popularly known as Timaya, was born on 15th August 1980. He started his music career from a music group called 'Dem Mama Soldiers.' In Nigeria, he is also called the King of Dancehall or plantain boy. His music career started from the lower ranks. He was a backup singer for some musicians before he went solo with the help of K Solo.
His music career saw the release of his first song professionally in 2005, titled "True Story," after which subsequent ones surfaced like "Gift and Grace," released in 2008 and De Rebirth. He now owns the D.M. record label he signed King Perry to after Patoranking, and Runtown had been groomed to shine. His estimated net worth is $10.5 million (₦4.09 Billion). His talents speak through his awards and worth, as he has won a list of Reggae/ Dancehall awards.
Olamide Adedeji was born in March 1989 in Bariga L.G.A, Lagos State. This Ijebu native retained his first stage name but was nicknamed Baddo by his fans as a badge for his street energy down on his songs' lyrics. His huge fan base and followership across Western Nigeria resulted from how the Yoruba language was infused into his music.
Baddo started with the Coded Tunes label, but currently puts in a lot of effort to raise a few other artists through his Y.B.N.L. record label. He earns more money through entertainment events and shows where he charges millions of Naira, and his brand ambassador deals with companies like Guinness, G.L.O., Ciroc, etc. Currently, he has a net worth of $12 million (₦4.67 Billion). He has also bagged so many awards in the Nigerian music industry as Best Indigenous Artist, Album of the year, and many others.
6. 2Baba (2 FACE)
Innocent Ujah Idibia, the Jos music star popularly known as Tu Baba or Tu face was born on 18th September in Jos. Fortunately for him, he has made it amongst the top ten richest musicians. His net worth currently is $18 million (₦7.01 Billion). It has been a motivation for so many people across the continent the way Tu Baba rose from nothing to something and then became one of the best Afropop singers in Africa.
Since he went solo from the Plantashun Boiz group he started with his music career has continued to flourish. Tu face was a top signing for Kennis Music early in his career with whom he released the first album that brought him to limelight in 2004 with the famous 'African Queen' song. He has won awards like the Headies, MTV Music Awards, and B.E.T. Awards. Tu Baba was more of a casanova in his young days and ended up with five kids from 3 different women before getting married to Annie Idibia with whom he has two girls.
David Adeleke, popularly known as Davido was the first of the top 5 richest musicians in Nigeria, but unfortunately, he dropped from the first place last year. He was born on the 21st November, 1992 in Atlanta to a rich and wealthy Nigerian family. His father, Dr. Deji Adeleke, is a co-founder of Adeleke University in Osun state and the C.E.O. of Pacific Holdings Limited. The song "Omo baba Olowo" brought Davido stardom, as it went viral, especially in Africa. He made some deals with companies such as AXE, Infinix, and a lot of others. His music career started with the K.B. International group with his first album "Omo Baba Olowo."
Davido has featured lots of artists, both Nigerian and foreign stars, and these moves have brought him to the music industry's top-class position. Davido and his brother own the H.K.N. music record, and they have signed to the Label, artists like Peruzzi and some others. Davido has bagged multiple awards in his music career from the Headies, MTV music, and many others. His net worth is $20 million (₦7.79 Billion). He is the youngest artist in the list of richest Nigerian musicians.
4. Tiwa Savage
The music star Tiwatope Savage was born on 5th February 1980 in Isale Eko, Lagos state. She is an Accounting graduate from the University of Kent. She is also a graduate of Berklee College of Music, where she obtained a degree in music. Her music career started with her being a musical backup vocalist, which she did until 2011 when she decided to release her first single 'Kele Kele Love' and start off as a full-blown brand. In 2012, she later linked up with Mavin Records, owned by famous music producer Don Jazzy.
In 2014, Tiwa married her longtime manager and friend, TeeBillz Balogun, but the marriage began experiencing some unfortunate private turbulence. The news of their marital issues became known to the public sometime in 2016. TeeBillz shared a post that suggested that their marriage was officially over and that he was single but not searching. Their marriage was blessed with a boy that melts Tiwa's heart. Despite all the problems with her personal life, Tiwa has been able to situate herself as not only one of the best musicians but also one of the richest musicians in Nigeria with an estimated net worth of $21 Million (₦8.18 Billion)
Ayodeji Ibrahim Balogun, popularly known as Wizkid, was born on 16th July 1990, in Surulere, Lagos. Wizkid is such a unique and talented musician who started right from a very young age. One surprising aspect of this young musician is how he went global, collaborating with some of the biggest international music names. He is the first Nigerian musician to rise up to be recognized in the Guinness Book of World Record for the most played song on Spotify as a result of the song he did with Drake titled, "One Dance".
His big career began with E.M.E. records where he released the 'Superstar' album that contained a hit track "Holla at Your Boy". The song gave him a Headies award for 'next rated artist', and he continued rising from there. He currently owns Starboy Entertainment and has not stopped giving good music to his fans. He has a net worth of $30 Million (₦11.69 Billion). Although he is unmarried, he has a child with Sola Ogudugu. He has been in different controversies with a few other artists like his Banky W - his former boss, Davido, Olamide, and a few others.
2. Don Jazzy
Collins Michael Ajereh popularly known as Don Jazzy hails from Umuahia in Abia State and was born on 26th November, 1982. Don Jazzy is known for his wonderful music production and hard work incorporated with his persistent ability to easily make up sound business relationships both in Nigeria and across the border. His big music career started when he worked with D'banj to make various hit tracks as Mo Hits record before they went their separate ways in 2012. After which he created the new record label Mavin Records.
Don Jazzy has established and groomed several superstars like Wande Coal, D'Prince, Tiwa Savage, Reekado Banks, etc. Even as he produces beats for hit songs, he tends to include his deep voice in the music to add a spectacular note touch. Despite his age, he is unmarried because he wants to focus more on making good music and raising more stars in the Nigerian music industry. His career has not only made him rich but has also brought him awards as a top music producer. His estimated net worth currently is $95 Million (₦37 Billion).
The twin music artists, Peter and Paul Okoye were born in November 1981. They both became stars by standing together to form the P-Square identity. They had successfully built their music career and effectively set up a band, but they are currently separated while the majority of fans still accept them as one bond. Peter and Peter Okoye made a great legacy in the Nigerian music industry. They earned the spot in this list as the richest musician in Nigeria because they have a net worth of $150 million (₦58.24 Billion). Although, people wonder what their net worth is separate.
Peter or Mr. P is married to Titilola Omotayo and has a daughter and a son. He had made ambassadorship deals with companies like Kia Motors and Olympic Milk. Most of his musical achievements he made were done while he was still with his twin brother Paul Okoye. They had won so many awards to be nominated as Artists of the Decade. Since he separated from P-Square and he has released several songs since then. He is married to his beautiful lover, Anita Isama, who he had been with for a long time before getting married. They have 3 kids, the first son and a set of twins - 1 boy and 1 girl. He has a mansion in Lagos, Nigeria, and another one in Atlanta, U.S.A. He is also a real car collector. He owns exquisite cars that are not inferior to any celebrity. His car collection includes:
● 2 Range Rovers (₦50 million - ₦82 million)
● BMW X6 (₦23.5 million - ₦28 million)
● Dodge Challenger (₦10.8 million - ₦22 million)
● Porsche 718 Cayman (~ ₦22 million)
● Mercedes AMG GL63 (~₦45 million)
● Bentley Mulsanne (~₦125 million)
● Jeep Wrangler (~ ₦12.6 million)
On the other hand, Paul Okoye or Rudeboy has houses both in Nigeria and outside the country, and none of them are less than mansions. His garage has fewer cars than his brother, but they cost way more than his brother because of the 2 Rolls-Royces he has. His car collection includes:
● Rolls-Royce Phantom (~₦204 million)
● Rolls Royce Ghost (₦191 million - ₦247 million)
● Land Rover Range Rover (₦50 million - ₦82 million)
Lamborghini Gallardo (₦74.6 million - ₦117.9 million).