The Nigerian music industry will continue to produce most of the richest African musicians, as long as music still pays heavily in the world at large. This is why an average youth in Nigeria will definitely want to become a musician during or after school. According to trade.gov, Nigerian entertainment industry generates over $8 billion for the economy. This figure is expected to hit $10.8 billion by 2023, which automatically account for 1.4% of Nigeria’s GDP. The entertainment industry in Nigeria is one of the highest employers of labour with over 1million Nigerians employed in 2022.
Nigerian youths have come seen music as quickest, as well as one of the fastest or safest way to make money and become very wealthy in the shortest period of time. If not, why not?! When a lot of individuals has risen to stardom through music career.
Now, the questions coming from most of the young Nigerians are; which of the musicians are the richest? Who is the richest musician in Nigeria? The question goes on and on in different forms anyways.
These Nigerian richest musicians according to Forbes list of richest music artistes have built strong fans bases, which has given them the popularity both in our country, Ghana and the world at large. These musicians are also highly respected in the entertainment industry globally especially in Ghana where they are seen as demi-gods. Don’t get this twisted, Ghanaians have some of the best artistes too but in terms of wealth and talents, even the richest Ghanaian musicians can’t be found in Nigeria’s top 10 list.
To answer some of the questions, we have gathered the top 20 of the Wealthiest Nigerian musicians till present. Before we start with showing you all the richest musicians in Nigeria, we will like you to know some couple of things in mind.
In the music industry, your popularity determines how much you will be making as a musician. And this also determines your worth. Popularity is what determines your endorsement and show appearance fees.
To find out the worth of a particular music artist, you can check up the musician’s YouTube music video channel likes and followers, average music downloads on iTunes, Spority stats, and so many other ways. Having a YouTube account as a music artist, you can be making income from your video releases on the video platform itself. This is aside all the other sources of income.
Yet another way to make income as a musician, is through some music awards, but it’s highly manipulable. However, the ability to pull crowd with your song in general will make you huge profit from endorsement, and appearances in shows when you get hired to show up in ceremonial gatherings.
Before we move deeper into showing you the richest musicians in Nigeria, let me give something you need to have in mind.
- Net worth is not really amount to the money these artists have in their bank accounts. Net worth comes from the worth of their individual works, achievements, investments, brand values, assets, as well as popularity.
- Mind you that music album sells is not the actually source of income for most of these musicians. Most of them makes money from YouTube ads, loyalties, ringtones, music concerts, sponsorships, endorsements and public appearance in shows.
- The list of highest earning musicians in Nigeria is only current as at the time of writing this post content. This means that it’s dynamic, and may not correspond with the net worth of these in future, if the content is not update according to the current update of net worth of the listed artists.
- We will keep updating this list, or probably add more artists to the list of richest singers in Nigeria now and in future. You might become one of them by then, if you’re a musician by then.
Now that you’ve known how to rate music artists’ source of income using their respective worth of asset, let’s get straight into showing you some of the highest paid musicians in Nigeria currently.
At the end of this post, our readers will be clear about the following:
- The current top twenty (20) richest musicians In Nigeria for the month of September, 2023.
- Who is the richest musician in Nigeria on the top 10 countdown for September, 2023.
- Net worth of the top 10 richest singers in Nigeria for September, 2023.
- Criteria for ranking the list of richest musicians in Nigeria 2023.
- Who holds the current Number 1 spot on the list of Richest male musician In Nigeria as at September, 2023.
- Net worth of the top 20 Nigerian musicians.
This post currently boasts as one of the most detailed currently online because it contains past and present information of musicians In Nigeria, their biographies, other side businesses and how they rose to stardom.
The Criteria For Ranking The Top 20 Richest Musicians In Nigeria 2023
Many have asked how our criteria for ranking the top 20 Nigerian music billionaires because there are many other lists making waves online at the time of writing this post. This is a good opportunity to answer the question to such answer.
Let us be quick to remind you all that this is not just another cooked up list to gather traffic or attention, we went through various research on these celebrities as regards their houses, cars, landed properties and investments, opinion polls and most importantly, conducting personal interviews where needed. Based on the results, we were able to evaluate and do our personal analysis and judgement before coming up with this list.
As we bring you the list of richest musicians in Nigeria right here on this post, you can either decide to continue reading or watch the video below.
Net Worth of Top 20 Richest Musicians in Nigeria 2023
1) Wizkid (StarBoy) – Net Worth: $30 million
According to Forbes, Wizkid is rated one of the richest musicians in Nigeria today. They estimated his net worth to be around $30 million American dollars. The young music star started his music career when he was 11 years old, and since then, he has been recording huge successes till date.
|NAME||Ayodeji Ibrahim Balogun|
|DATE OF BIRTH||16 July 1990|
|NET WORTH||$30 Million|
Wizkid’s journey from grass to grace wasn’t as smooth as his life might look right now. His success didn’t really come that easy either. He first started in Surulere where he was born in Lagos State.
Wizkid was born in 1990, with his father being married to 3 wives, and Wizkid is the only son of the man in the entire family. His mother is a Christian, while his father is a serious Muslim, and that is how he got ‘Ibrahim’ in his name. However, Wizkid never practiced Islam, but Christianity all through just like his mother.
Wizkid once started his music career dream with a group known as The Glorious Five, where he released his very first collaborative album. This group consisted of himself and four of his church friends. In 2009, Banky W met him and signed him to his record label E.M.E (Empire Mates Entertainment).
Wizkid first single that brought him altogether to limelight was ‘Hola At Ya Boy’ which was mastered and produced by E.M.E records. This track was a huge hit track for Wizkid in 2011 from the Superstar album released the same year.
In the big joy of the album success, Wizkid was forced to work harder for earn his wealth.
In 2013, Wizkid founded his own record label he named after his stage nickname, StarBoy records. This is actually the kind of signature jingle you always hear in his tracks or songs. He also signed some musicians under his record label as well.
Wizkid aside being featured in the country, has also featured internationally with the likea of; Drake, Chris Brown, Tinny Tempah and many of them, including Skepta and Sarkodie of Ghana. He also signed an endorsement deal with the SONY entertainment company, Globacom telecommunication, Pepsi beverage bottling company also made him an ambassador.
2) Don Jazzy – Net Worth: $29.5 million
Don Jazzy will be the only musician on this list with not even a single musical track to his name. Although, he is a popularly known music producer. He commands a lot of respect among all other music artists.
Michael Collins Ajereh
|STAGE NAME||Don Jazzy|
|DATE OF BIRTH||26 November 1982|
|NET WORTH||$29.5 Million|
He started his career with D’banj, but one thing or the other led to their separation. Though, he also finally produced some D’banj songs before, and also when he left. Their friendship did not die off anyways, because they later reconciled, but not to get back together in the same business after all.
Don Jazzy being the founder and owner of Dynasty records, is also producing songs for some other musicians. He had a good number of musicians under Marvin records like D’banj, Tiwa Savage, Reekado Banks, Wande Coal though some older artistes like Dr SID, D’Prince, Di’Ja, Korede Bello still forms part of the Marvin family however, 8 new artistes (Johnny Drille, Ladipoe, DNA, Rema, Crayon, Ayra Starr, Magixx, Boy Spyce.) were signed which has further given his record company a huge boost.
Don Baba Jay is a builder, a producer and a pacesetter in the entire Nigerian music industry. Whatever he lays his hands will definitely turn to trend. Even though, he never had a song to call his own, he has actually featured in many of the songs he produced.
Don Jazzy likes to show off his newly acquired assets, a move he claims inspires his fans. In March 2019 Don Jazzy acquired a brand new white Bentley worth about 75 million Naira. He makes money off his artistes based on agreement signed upon joining Marvin, his record label. Don Jazzy is worth $29.5 million Dollars.
3) Davido (Omo Baba Olowo) – Net Worth: $29.5 million
David Adedeji Adeleke popularly known with his stage name as, Davido has made impact in the Nigerian music industry with his party beats. He self acclaimed himself O.B.O which means, Omo Baba Olowo in Yoruba pronouncements. Just like our famously popular young talent, Wizkid, Davido is also yet another young music talent in the country, Nigeria and Africa.
David Adedeji Adeleke
|DATE OF BIRTH||21 November 1992|
|NET WORTH||$29.5 Million|
Since he rose to stardom, he has always been this comparison as to who is richer between wizkid and Davido. Fans go as far as comparing on whose songs makes more sense, as well as their properties and investments. Even their money in the bank isn’t spared by fans too.
According to the guidelines we gave earlier, before listing the most successful musicians in Nigeria, you can use it as a yardstick to judge who is actually wealthier or richer between the two.
Wizkid may have come from a poor background, but that’s not the same with Davido. O.B.O came from a very wealthy family. His father happens to be one of the popular business tycoon and a politician in Nigeria.
Davido as released several hit tracks which has topped music the charts over the years, and he’s still on the trend. Some of his hit tracks are; Flora, Aje, Aye, Gobe and Assurance. As of recent, he started dating a wealthy cook in Lagos State named Chioma, which raved online since they made there love public.
Davido owns HKN music group records, which his brother, B-Red (born as Adewale Adeleke) is also a part owner. Davido as part of his assets, bought two houses in Lekki Lagos State. He was also rumored to have bought a private jet, which he later revealed that he was not the direct owner. This is to say that the jet in question was simply hired by him – maybe for a music video shoot.
Davido alongside all other assets and properties, he has got fleets of cars for himself. They consist of Range Rover Sport, Porsche and a Honda car. You can read more about Davido’s biography, net worth, his houses and cars for more information.
He is also a member of SONY music record label alongside all other big brands that signed him as their ambassador. He also got endorsement deals from; First Bank, MTN Telcom, Pepsi bottling company. The Pepsi endorsement deal was rumored to worth around N100 million.
Recently he was paid by the Rivers state government to campaign for one of Africa’s biggest political parties, People’s Democratic Party (PDP) where he was rumoured to have been paid 40 Million Naira to promote and campaign for the party amongst the youth.
O.B.O is now popularly known for his claiming to have around 30 Billion in his account. This trend was after his 30 million concert. But concrete report have it that Davido is worth 29.5Million US Dollars which is a tie to Don Jazzy’s net worth. This achievement places him among the top 10 richest musicians in Nigeria as at today.
4) Timaya (Plantain Boy) – Net Worth: $25.5 million
His real name is Enitimi Alfred Odom, you might be wondering the relationship between his real name and stage name (Timaya), not to worry, in the cause of reading this post it would become clearer.
Timaya is another celebrity that made it on our list of highest earning musicians in Nigeria with a net worth that stands at $25.5 million. The story of Timaya rising from grass to grace should serve as an inspiration to all that you can achieve your dream in life no matter the obstacle.
|NAME||Enitimi Alfred Odom|
|DATE OF BIRTH||15 August 1980|
|NET WORTH||$19.5 Million|
The entertainer is now the owner of a top record label, Dem Mama records and has signed some prominent young acts into his label. When Timaya released his first solo album in 2005, ‘Dem Mama’, the album which was more of his story made waves in the market and he sold more than a million copies then. On YouTube also, most of Timaya’s song has up to 50 million views.
Talking about Timaya’s net worth is something very inspiring judging from his hustle to make a name for himself in Nigeria’s entertainment industry. Timaya has a lifestyle that suits where he comes from (Bayelsa state). They are known for living large, acquiring very exotic cars and assets. One thing he stands out from is his dressing. A Timaya can go as far as using a belt worth 200,000 Naira just to prove to fans that money is nothing.
Timaya recently acquired a tastefully furnished gigantic mansion in Lekki Phase 1 area of Lagos state. The house according to land and asset valuers is worth close to 800million naira. Fans are known to support their artistes but on this one, they have questioned the source of his wealth, adding that his earnings from his shows, album sales and tours would not be enough to acquire these assets and maintain his lifestyle.
He has responded to them by saying he is an investor in landed properties and oil business aside music. He once stated that 2Face and Jim Iyke advised him to spend more on assets rather than liabilities therefore fans should expect more show of wealth from him in the nearest future.
As regards his endorsement deals, Timaya is a Glo brand ambassador and ever since he has been from one deal to another and today Timaya can boast of 10.5million Dollars as his total net worth which includes cash in bank, cash at hand, assets and other investments and when converted using the current exchange rate, it is 3.8Billion naira.
5) D’banj – Net Worth: $20 million
D’banj is an entertainer to the core. During his early days in his career, he joined Don Jazzy to form Mo’Hit records. Most of his songs then was produced and master by Don Jazzy and he also gained popularity in Nigeria due to his party beats.
|NAME||Oladapo Daniel Oyebanjo|
|DATE OF BIRTH||9 June 1980|
|NET WORTH||$20 Million|
D’banj’a real name is Oladapo Daniel Oyebanjo, but popularly known with his stage name, Kokomaster. He is also the owner of Koko Waters and Koko Garri.
D’banj rose to stardom to become one of the richest music acts in Nigeria. He may not be all that popular anymore, but he has paid his due and is always featured in Forbes top most richest musicians in the country.
D’banj’s hit tracks include; Fall in love, Oliver Twist and so many others. Currently, D’Banj has been endorsed with few deals with companies like; SLOT, Nigeria’s trusted mobile retail outlet and Ciroc. However, these deals are worth millions. The Koko Master is a true entertainer, he might not be so talented music wise but knows how to make good his entertaining skills and make the crowd thirst for more with is on stage performance.
He has formed a formidable partnership with Nigeria’s living legend 2Face who also ranks among the list of richest musicians in Nigeria today. When such partnership exists between this duo, something great is sure about to pop up.
D’banj aside music, has other investments, cars and landed properties. But, he lost his son recently, to the cold hands of death. His son got drowned in his residential pool. Many artists consoled him for his lose anyways. As at today, the Koko Master also known as D’Banj is worth 20million US Dollars which is about 6Billion in Naira equivalent.
6) 2face Idibia – Net Worth: $20 million
2face is yet another popular Nigerian singer, whose net worth is estimated by Forbes to be $20 million. Tuface was once regarded regarded as the richest musician beating the likes of P-square, Don jazzy etc. He was formerly under the defunct Plantashun Boiz, where he became famous alongside, with his friends; Face and Black Face.
|NAME||Innocent Ujah Idibia|
|DATE OF BIRTH||18th September 1975|
|NET WORTH||$20 Million|
2face real name is Innocent Idibia and he was born in Jos. One of his most popular hit track is; ‘African Queen’ which sold millions of copies worldwide. The track as par say, has topped the music charts and has won him several awards in Nigeria and on the international scene. From the MTV Award, Channel O Music Video Award, BET Award, MOBO Award and best musician of the year among others.
Over the years, 2Face has raked up enough fame and wealth that he is regarded by many to be a veteran in the music entertainment industry. 2Baba got married to Annie Idibia in 2012. He has 7 other children with other women apart from Annie and recently he publicly apologized to his wife via his IG handle saying he was sorry for putting her through another mess, his fans attributed the apology to most probably getting another lady pregnant again though he rubbished the rumor.
2Face is the owner of Rumours Night club at Festac Town, GRA Ikeja and Victoria Island. Each assets are sited in choice areas in Lagos state. According to reports, his Night clubs are worth over 500million Naira put together. A bottle beer goes for about 1,000 naira at his and some wines cost as much as 3million naira.
Just recently the Idibias (2Face, Annie and his children) sealed a new endorsement deal with a multinational beverage company Coca-Cola. A deal reportedly worth over a 100million Naira. Contained in this deal is the use of their images for posters, billboard adverts and promoting of Coke drink in his music videos and social media.
Presently, 2Face Idibia’s net worth is estimated at $20 million aside his endorsement deals in which he is an ambassador with Glo, Italian liqueur brand, Campari and Partner Mobile and Coca-Cola. He also owns a top record label named Hypertek media. He is a true living legend living the life many would day dream.
7) Olamide – Net Worth: $18 million
Olamide Adedeji popularly known as Badoo Sneh is one of the Nigerian richest musicians. Olamide’s net worth an estimate of around $12 million. He is also the best indegenous Yoruba rapper in Nigeria, and have released about seven albums until date.
|STAGE NAME||Olamide Badoo|
|DATE OF BIRTH||15 March 1989|
|NET WORTH||$18 Million|
Some of his albums include: Rhapsodi (2011), YBNL (2012), Baddest Guy Ever Liveth (2013), Street OT (2014), Eyan May-weather (2015) and The Glory which was released in 2016.
When it comes to popularity, Olamide ranks among the most popular celebrities in the country. He has featured in so many songs with other hip-hop artistes. Apart from the success recorded in his music sales, Olamide is a business man who has made his wealth through investments and endorsement deals. He is also the founder and CEO of YBNL, one of the best record labels in the country.
Normally, you see Olamide and Phyno collaborating together, especially to produce songs together. What most Nigerians don’t know is that both phyno and Olamide are best of friends. This top rapper also knows how to enjoy his wealth as he lives in his own mansion and has lots of cars.
As Olamide grew in popularity, so does his money. Apart from the landed properties, investments and assets he owns, Badoo has several multi-million naira endorsements contracts with top brands like Guinness, Monster drink, Glo and Etisalat. Recently, Sterling bank made him a brand ambassador for an undisclosed fee.
Olamide’s net worth is 18million US Dollars. Isn’t that a feat for a Bariga born to achieve before his 30s? He truly deserves some accolades.
8) P-Square Duo – Net Worth: $17 Million Each
The entertainment industry will not be complete without mentioning the P-Square, both were featured on Forbes top ten richest musicians in Nigeria 2023 with an estimated net worth of $20 million. In fact Paul and Peter Okoye (PSquare) used to be rated the highest paid Nigerian artistes before they went both ways.
|NAME||Paul And Peter Okoye|
|STAGE NAMES||Rude Boy And Mr P|
|DATE OF BIRTH||18 November 1981|
|NET WORTH||$34 Million (17million Each)|
Their musical career started in Jos, when they were into break dancing and singing. Both Peter and Paul Okoye were so popular that their fame spread throughout Africa and even on the international stage, they were recognized.
So was the story of their wealthy life style that they bought multi-million mansion at Lekki, cars, signed multiple endorsement deals and won series of musical awards ranging from best dancers of the year, MTV awards, MOBO Awards, KORA Awards, The Headies award, etc.
Unfortunately, they separated and went solo which slightly affected their ranking on this rich-list and saw the likes of Wizkid, Tuface and Davido usurp their position.
Psquare songs which are popular hits include E no easy, Beautiful Onyinye, Chop my money, Personally, Danger, Ejeajo, Bring it on, Busy Body, Do Me, etc.
Thy announced their reunion after years of being apart due to personal and family disputes the twins have kicked off a comeback tour in Africa and Europe. Their performances still spark up the crowd like they never left. Comebacks though takes time due to the competitiveness of the entertainment industry but their talents, fame and wealth would sure do a speedy recovery.
9) Phyno (Fino) – Net Worth: $15 Million
Phyno fyno is an Igbo indigenous rapper, singer, songwriter and record producer whose real name is Chibuzor Nelson Azubuike. He is a talented artiste who now stands at $15 million as his total net worth, which is a drop from 2022. Though he has slowed down in his back to back hit tracks, however, he is still a force to reckon with in the entertainment industry. He is among the fastest rappers in Nigeria and is currently doing well with what he knows how to do best.
|NAME||Chibuzor Nelson Azubuike|
|DATE OF BIRTH||9 October 1986|
|NET WORTH||$15 Million|
In the entertainment industry, consistency is key to being relevant. Take for example Ice Prince Zamani, he was rated not just one of the best rappers in Nigeria but one of the most sought after Nigerian musicians in 2015/2016 until his breakout of ChocolateCity Record label and his consistency in churning out new songs took a nosedive, he became less consistent and this affected his relevance and brand value. Today he is been fighting tooth and nail to gain the relevance he once took for granted but its really being an uphill task for him considering the competitive nature of the Nigerian music industry.
Phyno having learnt from his predecessors, has been one of the most consistent Nigerian musician till date. He does not just release songs for the sake of being consistent rather he releases good songs his fans do not forget in a hurry.
Phyno began rapping in 2010 using Igbo dialect before he entered Lagos and joined Olamide to further his career. Just like Olamide, Phyno has taken music to the next level. He has featured so many other artist such as Timaya, Flavour, Illbliss, Chidinma Ekile, PSquare, Yemi Alade, M.I and other popular Nigerian musicians in his songs. As at today, he is also a brand ambassador of Nairabet, GLO which runs into millions of Naira.
Phyno cannot be left out on the list of richest musicians in Nigeria. Phyno’s net worth as at 2023 is $15 million US Dollars and this translates to about 5billion naira.
10) Flavour N’abania – Net Worth: $15 million
His real name is Chinedu Izuchukwu Okoli but he is known as Flavour N’abania (stage name). He is another entertainer whose stardom and wealth has been made through his interesting songs.
|NAME||Chinedu Izuchukwu Okoli|
|DATE OF BIRTH||23rd November 1983|
|NET WORTH||$15 Million|
He started his musical career from childhood as a drummer in his church has grown to become one of the most popular entertainers in the country. Flavour is also a model because of his well built body.
His hit song Ada Ada was nominated In 2014 to be among the award winning best video of the year at the MTV Africa Music Awards. What made Flavour join the 10 richest musicians in Nigeria is the numerous endorsement deals he has worth millions of naira.
Flavour is currently making waves with the hit single “Ije Awele” where he featured by the Umu Ibiligbo brothers. He is one artiste you cannot help but mention when listing the most popular musicians in Nigeria. Aside being popular and self acclaimed king of the East, he is without doubt a talented singer who knows how to give his fans what they deserve. Flavor’s fan base is made up of 90% females and 10% males.
He deserves to be on the list of Nigeria’s richest artistes because he chunks out hits upon hits every single year. No major events go on in the eastern Nigeria without Flavour being invited to perform. Politicians and multimillionaires in the east pay huge sums of money for his performance.
He is currently ranked on the 10th position on the list of richest musicians in Nigeria September, 2023. Flavours net worth for September, 2023 is 15Million USD. Kudos to him.
11) Tiwa Savage – Net Worth: $13 million
Tiwatope Savage Balogun is her real name. Despite being separated from her defunct manager Tunde Balogun (TeeBillz) amongst other scandals, Tiwa savage remains Forbes richest female musician in Nigeria and for some time now, she is estimated to the net worth of around $13 million. Aside singing, she is a song writer, and has well other assets and investments.
|NAME||Tiwatope Savage Balogun|
|STAGE NAME||Tiwa Savage|
|DATE OF BIRTH||5th February 1980|
|NET WORTH||$13 Million|
Her first single “kele kele love” was a hit and it topped Nigeria music charts. She is also a crew member of Marvin Records Label where she has released a lot of interesting songs in 2023 including Tales By Moonlight, Work Fada, Ade Ori, Somebody’s Son, Special Kinda. Tiwa’s album till date sells not only in the country, but also internationally.
Tiwa Savage has properties in Lekki Phase 1 area of Lagos state, Badagry and Abuja. She is a lover of sport utility vehicles and she has fleet of cars parked at her garage worth over 200million Naira. Her house in Lekki phase 1 is worth over 200 million naira also, this is inclusive of the land the property is sited upon.
As part of what keeps her stock rising, to get the Tiwa brand perform at your event, be ready to part with a huge sum of money. According to Tiwa Savage’s manager, booking Tiwa to perform in an event is around 5 to 6million Naira per event for at most 2hrs straight up.
It would be unheard of for a female artiste of her caliber to be without endorsement deals. Tiwa Savage has a current endorsement deal with Pepsi worth over 50million naira, she also has a running deal with Maggi reportedly worth 15million Naira. She is a Forte Oil ambassador too for an undisclosed fee, not forgetting her endorsement deal with Nigeria’s biggest online market store, Konga worth about 20million Naira.
Tiwa Savage’s net worth is 13million US Dollars.
12) Kizz Daniel – Net Worth: $12.5 million
Not until recently did Kizz Daniel pop up on this list. Kiss Daniel whose real name is Oluwatobiloba Daniel Anidugbe is a famous singer, songwriter, entertainer, and producer in Nigeria initially signed to G-Worldwide (G.W.W) a record label company founded by Festus Ehimare, also known as Emperor Geezy, founded in 2007. G-Worldwide operated a closed system or better put, communist system of administration, that is, they do not go out of their record label for collaborations, this in a way limited Kizz Daniel from exploring his talents with other ‘A’ list artistes despite incessant calls from their managers.
|NAME||Oluwatobiloba Daniel Anidugbe|
|STAGE NAME||Kizz Daniel|
|DATE OF BIRTH||1st of May 1994|
|NET WORTH||$12.5 Million|
Boy Kiss as he is popularly called further revealed how he was being paid 30,000 Naira (monthly salary) aside his other upkeep though. It was a tough battle between him and his record label when he decided to pull out of the contract, various court hearings ensued during this process and at the end, there was a light at the tunnel for the now Kizz Daniel. Yes there was a change of name because G-World=wide claimed ownership right of the name KISS DANIEL and all proceeds that will in future come out of the brand.
Since leaving G-Worldwide, Kizz Daniel has been releasing fascinating songs such as ‘Sofa,’ ‘Yeba,’ ‘DAYZ,’ ‘No Do’ and he released a song featuring Davido known as ‘one ticket‘ which gathered millions of views on his youtube channel. The latest amongst his hit track now is titled ‘Buga’. The song had got more than 40,190,277 views at at January 22, 2023 and currently the most played song both in Nigeria and overseas.
In less than 1 year from now, Kizz Daniel would be ranked among the top 10 richest musicians in Nigeria, its not a mere say, his talents and potentials says it all. Watch out!
13) Banky W – Net Worth: $9 million
Olubankole Wellington, also known as Banky W, is a Nigerian singer, songwriter, rapper, actor cum politician. He spent most of his life in Italy, where he was rumored to be doing other kinds of businesses.
|STAGE NAME||Banky W|
|DATE OF BIRTH||27 March 1981|
|NET WORTH||$9 Million|
Music is not the only thing that made him a wealthy musician in Nigeria. He co-founded Empire Mates Entertainment record label E.M.E. Moreover, he is the first official ambassador of Nigeria Samsung electronics, as well as a brand ambassador for multinational companies like Uber, and Ciroc ultra-premium vodka.
He says he sees himself more as a servant of the people, this he has demonstrated by joining politics. The singer cum politician is now an Honorable member of Lagos state house of assembly. He lost in the 2019 general elections in Nigeria under the party, Modern Democratic Party (MDP) under Etiosa, LGA on the island which is regarded as the biggest LGA in Lagos.
This is not to say his musical career is dead just that there would be a paradigm shift in his daily activities towards working to serve his constituency better as promised during his election campaign.
Banky W has a current net worth of 9million USD dollars. He will surely surpass this figure now that he is an honorable member of the Lagos state house of assembly.
14) Tekno – Net Worth: $8 million
The pace at which Tekno rose to fame and prominence is still a memory that will not be so quick to forget. The self acclaimed Alhaji Tekno aka Slimshady go his breakthrough from his hit song ‘Duro’ with 26 million YouTube views. However, the breaking hit song is considered to be ‘Duro,’ but his greatest single yet is thought to be ‘Pana,’ which has 36 million YouTube views, as well as many downloads on iTunes.
His stage name is Tekno Miles but real name is Augustine Miles Kelechi, born 17th of November 1992, He will be 27 years this 2023. See the table below containing brief details of his biography.
|NAME||Augustine Miles Kelechi|
|DATE OF BIRTH||17 November 1992|
|NET WORTH||$8 Million|
Tekno has always believed in himself, a proof of this was when he recently reminded his Record label Boss Ubi Franklin that he promised him he was going to make so much money for the label and he kept true to his words. He was first spotted at an event in Abuja by Julius Agwu one of Nigeria’s kings of comedy. The Pana crooner’s performance was so ecstatic that Julius Agwu could not help but give him the necessary assistance by handing him personally to the current Made Men Music Group (MMMG) CEO Ubi Franklin and that was how Tekno was given the platform to express and explore on his musical talents.
Today no event in Nigeria can go on without Tekno being included as the list of performers. He is currently doing great for himself under his new record Label “Cartel”.
Tekno has fleets of exotic cars, Lands, houses and other private investments which when put together rakes in millions of Naira monthly. Tekno’s performance fee is around 2.5million Naira and such negotiation goes directly through his manager.
Tekno’s net worth as at 2023 is 8million USD. which is about 2.9Billion Naira approximately.
15) Yemi Alade (Jonny Crooner) – Net Worth: $5.7 million
The Jonny Crooner popularly known as Yemi Alade is another wealthy female Nigerian musician who rose to stardom after she released her hit track “Johnny”. She and Tiwa savage are the rated as the two best female artistes and currently the two female richest musicians in Nigeria as at September, 2023.
|NAME||Yemi Eberechi Alade|
|STAGE NAME||Yemi Alade|
|DATE OF BIRTH||13 March 1989|
|NET WORTH||$6 Million|
Yemi Alade is her stage name, her real name though not so different from her stage name is Yemi Eberechi Alade, she was born the 13th of March 1989, born to a Police commissioner. Her middle name Eberechi was borne out of the fact her mom is Ibo. She kicked started her musical career in full after winning the Peak Talent show in 2009 and has ever since been nominated for both local and international awards with the latest in 2015 and 2018 where she won the MTV African Music Awards for Best Female artiste.
In fact, in 2017, her videos won the most viewed musical video on YouTube than other female artiste in the country. This beautiful celebrity has released tracks that are interesting and has toured many countries in Africa and beyond.
Getting Yemi Alade to anchor or perform in an event is not easy to come by. Her performance fee is not less than 1 Million naira and this also depends on the length and sponsors of the event. She charges more for performances outside the shores of Nigeria.
She is also an investor outside the entertainment industry like her colleagues. Credible report have it that she is a major player in hospitality business. She has powerful 4 wheel sport utility vehicles packed at her garage since she’s a lover of cars.
She has so far done well for her self and paid her dues to be where she is at the moment. Yemi Alade is now ranked on number 15 on the list of richest musicians in Nigeria, this is also a rank lower than the previous year 2022. Her net worth is $5.7 million according to Forbes magazine.
16) KCee – Net Worth: $7.5 million
His real name is Kingsley Chinweike Okonkwo, born April 18th 1979. He is the elder brother to the CEO of 5Star Music record, E-Money. KCee start his music career alongside longtime friend Precious which gave birth to the defunct KCPresh group which made waves in the early 2000.
Currently making serious waves in the Nigerian music Industry, fans and music pundits have attributed his success to the wealth of his Younger brother E-Money but the truth remains that KCee is one of the most fortunate artistes in the industry. He picked the right beat at the right time, and the rest has become history.
|NAME||Kingsley Chinweike Okonkwo|
|DATE OF BIRTH||18 April 1979|
|NET WORTH||$5 Million|
After his break up with music partner, Precious he released a mega hit song titled “Limpopo” and afterwards another hit single “Pull Over” followed suit. Both songs are currently on 14.5 million views collectively on YouTube.
KCee signed an endorsement deal with Telecom giant MTN in 2015 running into millions of Niara. He is also a Peace Ambassardor to the Federal Republic of Nigeria, an appointment made by the wife of the former president of Nigeria Mrs Patience Jonathan.
In 2017 the 5Star music leading artiste signed another endorsement deal with Peace Air reportedly worth 50million Naira. He is still very relevant in the Nigerian music industry with the release of new singles and collaboration with top Nigerian musicians and across the continent.
KCee’s net worth is currently at 5Million USD which translates to about 1.8Billion Naira. Not a bad one at all considering his status.
17) Iyanya – Net Worth: $3.5 million
Iyanya as we all know is a Nigerian recording artist and performer. His real name is Iyanya Onoyom Mbuk (born 31 October 1986). The former project fame winner, Iyanya has gone international as famous superstar within the space of three years. He is a co owner of Tekno’s defunct music label Made Men Music (MMM) a company incorporated under the Made Men Music Group (MMG). Being a co owner simply means he has a percentage from every earnings under the music label.
|NAME||Iyanya Onoyom Mbuk|
|DATE OF BIRTH||31 October 1986|
|NET WORTH||$3.5 Million|
Iyanya like other artistes makes his money from other sources aside music. He had a one year endorsement deal with a new mobile phone brand known as Solo Phones Nigeria, a mobile phone manufacturing company with head office at Ikeja computer village precisely. He signed the agreement with the company to make use of his images and make himself available for events or promotions the company was either directly or indirectly involved.
Industry report have it that the deal was worth 75 million naira. To add icing to the cakes, Iyanya was also given a Toyota Prado. In the same year a trusted daily news paper also revealed Iyanya signed a one-year deal with Zinox Computers (Nigeria’s first certified branded computers) worth about 12million naira.
Iyanya charges nothing less than 2million naira per show, that is for any performance is called to showcase his talents and he is good at wowing the crowd at any performance. His female fans have attested to going for his shows simply because he bares his muscular physique and they are contented with just that.
Iyanya at some point in his career joined the Mavins group, a move many criticized him for based on his status in the Nigerian music industry though the joint collaboration with Don Jazzy’s record label did not yield any positive result which further necessitated his way out of the label.
Iyanya has been making a fortune from album sales and other investments. He is no doubt one of the most successful artistes that popped out of project frame. Based on all his has in terms of properties, investments, album sales, performance fee and endorsement deals, Iyanya net worth stands at 3.5 Million US Dollars.
Iyanya has shown that if you want to be successful in Nigeria, give them what they want and you will be blessed with wealth.
18) M.I Abaga – Net Worth: $3 million
MI (Mr Incredible) Famously regarded as one of the best rappers in Nigeria at the moment. Without doubt, he has every bragging right to be on this list. M.I is a successful Nigerian rapper, as well as the primary stakeholder in Chocolate City Records.
|DATE OF BIRTH||4 October 1981|
|NET WORTH||$3 Million|
MI rose to fame in 2006 with his song “Crowd Mentality”, was quite popular in his hometown, Jos and then spread to other states.
He has since dropped other successful albums like Talk About It (2008), M.I 2 (2010), The Chairman (2014), Compilation albums, The Indestructible Choc Boi Nation (with Chocolate City) and many mix-tapes. Recently he released a track ” You Rappers Should Fix Up Your lives” which so far has gathered so many accolades.
MI is a Glo ambassador, he signed an endorsement deal with the Indigenous telecommunications Giant Glo Nigeria that runs in millions of Naira. He also has a current running endorsement deal with a well known cognac brand Martell running into thousands of dollars too.
MI’s net worth is estimated to be 3Million US Dollars but when we converted this figure to naira, MI’s total assets, cash at bank and hand plus other landed properties alongside investments are estimated to be worth 1.1Billion naira. A figure that is slightly higher than Forbes estimate of his net worth. So far so good, the multiple award winner has paid his dues so this springs up no surprises as to why he makes the list of Nigeria’s richest musicians today.
19) Duncan Mighty – Net Worth: $1.8 million
Duncan Mighty is a famous Nigerian singer and record producer. In 2008, Duncan Mighty released the first album ‘Koliwater,’ which greatly influenced the music industry. His other albums are ‘Footprints,’ ‘The Certificate,’ ‘Grace and Talent’ and ‘Ahamefuna.’
|NAME||Duncan Wene Mighty Okechukwu|
|STAGE NAME||Duncan Mighty|
|DATE OF BIRTH||October 28 1983|
|NET WORTH||$1.8 Million|
His hit songs are “Obianuju” and “Port Harcourt Boy” which collectively have 2.8 million views on YouTube. His new hit is “Fake Love” featuring Wizkid. Many claimed Duncan Mighty’s musical career was dead and if not for his collaboration with Wizkid the hit single “Fake Love” would not had gathered the much accolades and general acceptance from fans but Wizkid was quick to debunk this statement stating he was the one who begged Duncan Mighty to feature in the song and not the other way round.
Duncan Mighty has since been getting calls from other top rated artistes to feature in their songs which has so far given him the much recognition he deserves.
Duncan Mighty has a Ross Royce Ghost worth over 100 Million Naira, he has other choice properties in the Oil Rich city of Port Harcourt though many have criticized him for his lavish lifestyle and have advised him to be more investment minded.
Calculating the worth of his cars, houses and other investment summed up, Duncan Mighty’s net worth is estimate to be 1,8Million US Dollars and when converted using the prevalent exchange rate of 359 naira per dollar, he is worth over 642 Million Naira. An achievement which rates him among the richest Nigerian musicians in 2022 and now again in 2023.
From the above you can see that Wizkid is ranked the richest musician in Nigeria with a net worth of 20million US Dollars. This is 2023 and he is sure to surpass this figure as he has always done over the years.
20) Chidinmma Ekile – Net Worth: $2 million
After winning the MTN Project Fame Nigeria, many though she would quietly fade away like most past winners but she has been able to shut her critics with her back to back hits alongside being consistent and relevant in the entertainment industry. Her switch from circular music to gospel songs was met with reactions from her fans but her resolve in excelling in this genre of music has kept her relevant in the music industry despite her net worth dropping significantly.
|DATE OF BIRTH||2nd May 1991|
|NET WORTH||$2 Million|
Chidinmma has one thing going for her – she is extremely likeable. That alone has skyrocketed her take home performance fees and worth to an enviable position.
Chidinmma Ekile is her real name, unlike other artistes, she thought it wise to use her real name as her stage name to carve a niche for herself. She was born 2nd of May 1991.
From a mere contestant in the MTN Project Fame to a household name in Nigeria, Chidinmma has created wealth that her peers could only dream about, enough to earn her a place on the current list of richest musicians in Nigeria.
Winning the MTN Project fame made her an automatic ambassador of Nigeria’s number 1 telecom giant MTN. She makes her money from downloading of ringtones by MTN network users, shows and events, calls for collaborations from other artistes and other forms of promotions and online advertisements.
In November 2019 Chidinma bought a mansion for her mother. A woman she public adores and claims to be her backbone and mentor. To her it was a way of show appreciation for the care and support in difficult moments in her life while growing up.
Chidinma Ekile being rated among the top 20 richest musicians in Nigeria should not come as a surprise because she is without doubt an embodiment of talents, she has paid her dues and is worth being listed among the top 20 Nigerian musicians.
She has a house on the island, lekki Phase 1 precisely worth over 100Million naira. She’s not a fan of SUVs but has no choice but to acquire one for herself being aware of Nigeria’s poor road network. She is not a fan of bling blings but got them due to the industry (Showbiz) she finds herself. She is truly a celebrity to replicate and admire due to the fact she’s been able to keep herself from scandals except one which was articulately handled by her manager.
As regards her net worth, Chidinmma as at 2023 has a current net worth of 2Million USD which is a 30% drop from her previous figure and more than 8steps down the ranking list. She is another act to look out for this 2023 despite the switch in her genre of music because she has been in the studio cooking up some nice gospel songs for her fans.
The above list is without doubt one of the most complete you can find online when searching for the richest musician in Nigeria in terms of their newt worth, in the sense that we did not just cook up stories but went in-depth, sent mails, made contacts, carried out our personal research and most importantly, carried out an informed judgement on this post before making it public.
Feel free to express your opinion as regards our list of top 20 richest musicians in Nigeria for 2023 and their current net worth via the comment section so we can discuss further and keep this post active and updated.