Top 10 Richest Musicians in Nigeria (2025)
From Afrobeat to Business Empires
The Nigerian music industry has grown exponentially over the past two decades, placing Africa on the global entertainment map. Afrobeat, Afropop, and other Nigerian-born sounds have become international phenomena, with artists headlining global tours, collaborating with superstars, and earning millions.
But beyond music, many Nigerian artists are savvy entrepreneurs, leveraging fame into fortune through endorsements, investments, and businesses.
Here’s a detailed list of the Top 10 Richest Musicians in Nigeria as of 2025, ranked by their estimated net worth and revenue streams.
1. Davido – Net Worth: $90 Million
Full Name: David Adedeji Adeleke
Genre: Afropop, Afrobeat
Record Label: DMW, Sony Music
Davido tops the list in 2025, combining global music success with massive endorsement deals and smart investments. Born into the wealthy Adeleke family, Davido carved his own lane through consistent hits, international collaborations, and global tours.
Income Sources:
- International tours and concerts
- Record label (DMW)
- Endorsement deals (Martell, Puma, Wema Bank)
- YouTube and streaming royalties
- Real estate investments and family businesses
Davido’s 2023–2024 “Timeless” world tour grossed millions and positioned him as Nigeria’s most globally visible music figure.
2. Wizkid – Net Worth: $85 Million
Full Name: Ayodeji Ibrahim Balogun
Genre: Afrobeats, R&B
Record Label: Starboy Entertainment, RCA Records
Wizkid is one of the pioneers of modern Afrobeats’ global takeover. His critically acclaimed albums (Made in Lagos, More Love, Less Ego) and collaborations with Drake, Beyoncé, and Justin Bieber cemented his international legacy.
Income Sources:
- World tours and sold-out stadium shows
- Endorsements (Pepsi, Tecno, UBA)
- Record label (Starboy)
- Streaming platforms and royalties
- Fashion collaborations and brand partnerships
Wizkid is known for his lowkey lifestyle but high-impact performances and smart money moves.
3. Burna Boy – Net Worth: $75 Million
Full Name: Damini Ebunoluwa Ogulu
Genre: Afro-fusion, Reggae, Dancehall
Record Label: Spaceship Records, Atlantic Records
Burna Boy is Nigeria’s Grammy-winning global superstar. Known for his commanding stage presence and political lyrics, he has sold out arenas worldwide and remains one of Africa’s most celebrated exports.
Income Sources:
- Grammy-winning music catalog
- Endorsements (Chivas Regal, GLO)
- International tours
- Streaming royalties
- Real estate in Lagos, London, and the US
In 2024, he became the first African to headline a stadium show in the US and Europe, adding significantly to his wealth.
4. Don Jazzy – Net Worth: $65 Million
Full Name: Michael Collins Ajereh
Genre: Music production, Afropop
Record Label: Mavin Records
The kingmaker of Nigerian music, Don Jazzy has shaped careers (Tiwa Savage, Rema, Ayra Starr) and built Mavin Records into one of Africa’s top music companies.
Income Sources:
- Record label ownership
- Production credits
- YouTube and streaming royalties
- Investments in tech and fintech (e.g., Bamboo, Trove)
- Brand ambassador deals
His recent Mavin Records valuation (rumored acquisition talks with Universal Music Group) has further boosted his wealth.
5. Olamide – Net Worth: $55 Million
Full Name: Olamide Adedeji
Genre: Hip-hop, Street-pop, Afrobeats
Record Label: YBNL Nation
Olamide is the king of the streets and one of the most consistent artists in Nigerian music history. His influence goes far beyond music; he has nurtured stars like Fireboy DML and Asake.
Income Sources:
- Albums and hit singles
- YBNL label revenues
- Brand endorsements (Itel, Goldberg, Monster)
- Streaming royalties
- Real estate investments
Though he keeps a low public profile, Olamide remains a behind-the-scenes mogul.
6. Psquare – Net Worth: $50 Million (Combined)
Full Names: Peter and Paul Okoye
Genre: Pop, R&B
Label: Independent (post-reunion)
Once Africa’s biggest duo, Psquare’s reunion in 2021 reignited their brand and brought back a wave of nostalgia. Their past albums and tours were massively successful, and their reunion tour added a major boost.
Income Sources:
- Old music catalog
- Reunion tours and international shows
- Endorsements (Globacom, Olympic Milk)
- Solo ventures (dance shows, fitness businesses)
- Real estate and investments
Though their peak was in the 2010s, their longevity ensures a solid spot on this list.
7. 2Baba (2Face Idibia) – Net Worth: $45 Million
Full Name: Innocent Ujah Idibia
Genre: Afropop, R&B
Label: Hypertek Digital
2Baba is a legend in Nigerian music, with a legacy that spans over two decades. Known for his timeless hit “African Queen”, he’s respected both for his music and philanthropy.
Income Sources:
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- Music royalties and catalog
- Brand endorsements (Airtel, Campari)
- NGO work and social impact projects
- Investments and real estate
Despite being less active musically, his legacy ensures continued income from royalties and public appearances.
8. Flavour – Net Worth: $35 Million
Full Name: Chinedu Okoli
Genre: Highlife, Afrobeat
Label: 2Nite Music Group
Flavour is one of the few artists who blend traditional Nigerian highlife with contemporary music, gaining popularity across Africa and the diaspora.
Income Sources:
- High-paying concerts (especially in Francophone Africa)
- Endorsements (Life Lager, Globacom)
- YouTube (massive views from African audience)
- Real estate and hospitality investments
His strong Pan-African fanbase has kept him relevant and highly paid.
9. Phyno – Net Worth: $30 Million
Full Name: Chibuzo Nelson Azubuike
Genre: Hip-hop, Igbo rap
Label: Penthauze Music
Phyno carved a niche for himself with indigenous rap and remains a major player in the Eastern Nigerian entertainment market.
Income Sources:
- Music sales and performances
- Endorsements (NairaBet, Monster Energy)
- Personal clothing line and studios
- Real estate investments
He’s not as flashy, but Phyno’s investments and loyal fanbase contribute heavily to his net worth.
10. Tiwa Savage – Net Worth: $28 Million
Full Name: Tiwatope Savage
Genre: Afropop, R&B
Label: Universal Music Group, former Mavin Records
The Queen of Afrobeats, Tiwa Savage is a trailblazer for African women in music. From Nigeria to the Billboard charts, she has crossed many milestones.
Income Sources:
- Global music collaborations
- Endorsements (Pepsi, Maggi, Tecno)
- Touring and live shows
- Fashion and beauty deals
Her 2023 U.S. and Europe tour and fashion partnerships continue to cement her as a global icon.
Honorable Mentions:
- Asake – Rapid rise with huge streaming numbers and sold-out global concerts.
- Rema – Global hits like Calm Down have placed him on the international stage.
- Ayra Starr – Leading the next generation of Afropop queens with international success.
- Tems – Grammy winner and songwriter for global artists like Rihanna and Future.
Final Thoughts
The Nigerian music industry is no longer just about fame — it’s about financial power. These artists have shown that with creativity, strategy, and vision, music can be a gateway to massive wealth.
With the global music spotlight now shining brightly on Africa, and especially Nigeria, it’s clear that the next generation of billionaire artists could very well come from these same streets.
