If you are curious about the wealthiest musicians in Nigeria, then look no further, as we will discuss everything you need to know about the top 5 richest musicians in Nigeria this year. Nigeria’s music industry has been on a global streaming spree as one of the fastest-growing industries worldwide.
Some of the most renowned musicians on the planet have come from this sector. Riding on the pedestal of worldwide popularity, the Afro Beats genre inspired by Nigeria has affected the general perception of Africa and especially Nigerian music for good, allowing the top artists to cash in big cheques.
Here’s a list of the top 5 richest musicians in Nigeria as of 2023:
1. DAVIDO
If you ask a question like, who is the richest musician in Nigeria? You should know Davido will be one of the first to crop up. David Adeleke, better known by his stage name Davido, is a billionaire’s son. He is a citizen of the United States by birth because he was born there in 1992.
The self-pronounced O.B.O. (Omo Baba Olowo) and the 30 Billion crooners has established himself in the music industry thanks to key hit songs including “Fall,” “Assurance,” “If,” and “Dami Duro”, receiving an average of 20 million views for each of his YouTube videos.
Davido has landed huge endorsement deals with brands like Martell over the recent years.
He is contracted to Sony Records and has received numerous honors since he became well-known, including B.E.T. and MTV awards. In addition, he has a number of endorsement deals with M.T.N. and Guinness Nigeria, which have made him popular with other companies and improved his financial situation. His net worth is estimated at $70 million.
2. WIZKID
Another name that can’t be ignored is Wizkid, the first Nigerian to have a sellout at the prestigious O2 Arena in the UK, thereby setting the pace for other Nigerian artists. We cannot help but mention this international superstar musician on this list of richest Nigerian musicians.
Last year, 2021, his hit album “Made In Lagos” recorded rave reviews as his single “Essence” featuring Tems gained global recognition and topped charts. Essence was nominated for a Grammy award as Best Global song of the year but lost to Angelique Kidjo.
Wizkid has made a name for himself in the industry and bagged numerous endorsement deals, which have contributed to his immense financial success and net worth.
Another name that can’t be ignored is Wizkid, the first Nigerian to have a sellout at the prestigious O2 Arena in the U.K., thereby setting the pace for other Nigerian artists. We cannot help but mention this international superstar musician on this list of richest Nigerian musicians.
Last year, 2021, his hit album “Made In Lagos” recorded rave reviews as his single “Essence” featuring Terms gained global recognition and topped the charts. Essence was nominated for a Grammy award as Best Global song of the year but lost to Angelique Kidjo.
Wizkid has made a name for himself in the industry and bagged numerous endorsement deals, which have contributed to his immense financial success and net worth.
3. DON JAZZY
Micheal Collins Ajereh, aka Don Jazzy, is the 3rd richest musician in Nigeria. The ace producer, label record owner, and singer has mapped out his path in the music industry and established himself as an authority.
The C.E.O. of Mavin Records, Don Jazzy, is reportedly worth an astounding $20 million, making him one of the richest and most influential artists in Nigeria.
With musicians like Ayra Starr, Rema, Crayon, Ladipoe, Magixx, Korede Bello, Johnny Drille, and others, the record company has experienced tremendous success.
4. A.S.A.
Asa is another important musician among the richest musicians in Nigeria. Bukola Elemide, whose stage name is Asa, is a well-known and lovely Nigerian / French singer, songwriter, performer, and recording artist who never fails to bless audiences with her heartfelt melodies. No one has the kind of flavour her songs bring to the heart of her audience.
Her albums contained legendary musicians, including Marvin Gaye, Fela Kuti, Bob Marley, Aretha Franklin, King Sunny Adé, Diana Ross, Nina Simone, and Miriam Makeba, as well as American, Nigerian, and African soul classics. Asa is third on our list of the top 5 richest musicians in Nigeria.
5. BURNA BOY
ODOGWU, aka the AFRICAN GIANT, is undoubtedly an important musician in Africa; Burna Boy is among the richest musicians in Nigeria. The Self-acclaimed African Giant has been making headlines worldwide with sold-out shows in stadiums.
The Grammy award-winning singer, rapper, songwriter, and dancer is one of the forerunners of the Afrobeat genre across the globe.
Between 2019 and 2022, Burna Boy won Best International Act at the 2019 B.E.T. Awards and was announced as an Apple Music Up, Next artist. At the 2020 Vodafone Ghana Music Awards, he was honored as African Artist of the year. In the same year, Burna’s album Twice as Tall was nominated for the same category at the 63rd Annual Grammy Awards, making him the first Nigerian with successive nominations at the Grammys.
There’s no doubt that Nigeria is a hub of musical talent, and they’re reaping the benefits of their investment and hard work. These artists are household names in the Nigerian music industry, and all of them definitely deserve the fame they already possess. Besides, these famous and richest Nigerian musicians not only make money for themselves but also enhance the country’s reputation in Africa and worldwide.
