As Nigerian music gains more attention worldwide, the list of the richest musicians in Nigeria keeps changing. Some artists who were not on the previous list have made it onto the current one, while some who were on the previous list have been left out.
If you know the music industry, especially Nigerian music, you will understand how some artists have surpassed others in terms of net worth due to revenue generated from music streams and concerts. So, let’s take a look at an updated list of the top 10 richest musicians in Nigeria as of 2024.
10 Richest Musicians In Nigeria 2024
1. Wizkid – $119 million
Wizkid is still the richest musician in Nigeria with a net worth of $119 million. His music continues to gain popularity around the world.
2. Burna Boy – $114 million
Burna Boy has moved up from the 6th position to the 2nd position on the list of the richest musicians in Nigeria. His net worth is $114 million, which he earned mainly from concerts and music streams within the last 2 years.
3. Davido – $90 million
Davido is also one of the richest musicians in Nigeria, with a net worth of $90 million. He has maintained his position and continues to strive to increase his wealth. Davido holds the record for having the most endorsement deals in Africa, with the 5 biggest endorsement deals.
4. Don Jazzy – $55 million
Don Jazzy is a well-known name in the Nigerian music industry and one of the richest musicians and record label owners in the country, with a net worth of $55 million. Despite being in the industry for over two decades, Don Jazzy’s name still maintains its position among the richest, although he has dropped from spot 1 to 4. He no longer releases songs but still generates money from the music of the artists signed to his label, which keeps him on the list of the richest musicians in Nigeria.
5. Olamide – $40 million
Olamide, popularly known as Olamide Baddo, has a net worth of $40 million and has secured a place on the list of the richest musicians in Nigeria, despite not selling or topping charts for the past three years. He generates his revenue from the artists signed to his label. Olamide remains one of the most influential and loved musicians in Nigeria.
6. Timaya – $35 Million
Timaya, with a net worth of $35 million, is the sixth richest musician in Nigeria. He generates income from his music.
7. D’banj – $30 Million
D’banj is a popular artist in Nigeria who has made it to the list of richest musicians in the country with a net worth of $30 million. He owns several properties and makes money from his music and investments.
8. 2Face Idibia – $27 Million
2face Idibia’s net worth is $27 million. Despite not releasing any recent music for a decade now, he is still considered one of the oldest and wealthiest musicians in Nigeria.
9. Flavor – $23 Million
Flavor is one of the finest musicians in Nigeria with an impressive net worth of $25 million. However, he has moved down from the list of the richest due to not making any trending songs or concerts.
10. Phyno – $20 Million
Phyno is one of the ten richest musicians in Nigeria with a net worth of $20 million. He has been making hit songs in recent years and is considered to be one of the most successful musicians in the country after Davido and Wizkid.