Richest Musicians In Nigeria 2020: Top 10


If you’re a lover of Nigerian and African music in general, there is a great possibility that you might want to know who the richest Nigerian musicians are and this article is here to cover that.

We all know that Nigerian musicians are very talented and the Nigerian music industry is one of the biggest in Africa and the world at large but some of them are extremely wealthy and their accumulated wealth and extremely high networth have made them outstanding in the industry.


These Nigerian artistes are very wealthy and some of them even earned their own spots on this list of the richest African musicians. They earn money from highly profitable endorsement deals, album/music sales, music shows and lots more.

Without wasting more of your time, below is a comprehensive and verified list of the top 10 richest musicians in Nigeria 2020.

Top 10 Richest Musicians In Nigeria (2020)

1) Don Jazzy

Micheal Collins Ajereh who is is popularly known as Don Jazzy is an incredibly rich Nigerian musician and he is the owner of Mavins records which has some top Nigerian music acts like Rema, DPrince, Korede Bello and others as artists currently signed into the label.

Don Jazzy who recently opened two mansions which are to serve as corporate offices for his record label – Mavin Records at Victoria Island and Lekki is the 3rd richest African musician and this automatically makes him the richest musician in Nigeria for 2020.

His record label has also produced top Nigerian artistes like Tiwa Savage & Reekado Banks and it is one of the biggest labels in the country.

2) WizKid

Ayodeji Ibrahim Balogun (born 16 July 1990), popularly known as WizKid is a Nigerian Nigerian singer and songwriter who started singing at a very young age of 11. He is one of Nigeria most respected musicians and he is the second richest musician in the country.

WizKid signed a record deal with Empire Mates Entertainment (E.M.E) in 2009 but he later left the record label after establishing his label imprint known as Starboy Entertainment in March 2013.

He is an incredible rich musician and one of the highest-paid musicians in Nigeria. WizKid also has a lot of profitable endorsements with top brands like Glo, Pepsi, Ciroc, Nike, and Dolce & Gabbana and these endorsement deals fetches him a lot of money alongside his other income streams.

3) Davido

Davido whose real names are David Adedeji Adeleke is a Nigerian musician, songwriter and record producer who is currently based in Lagos Nigeria. He was born in Atlanta, the United States on November 21, 1992, into a wealthy family of the Adeleke’s.

Despite his wealthy background, Davido is a very hard working musician who doesn’t entirely rely on his family’s money as he is one of the most hardworking artists in the Nigerian music industry.

Davido is the owner of Davido Music Worldwide (DMW) – a top Nigerian record label which currently has many well known Nigerian musicians like Mayorkun, Peruzzi, Dremo and many others signed as artistes. He is an incredible rich Nigerian musician and Davido is the 3rd richest musician in Nigeria right now with an estimated networth of over $16 Million.

4) DBanj

D’Banj is one of the most recognized acts in the Nigerian music industry because of his rhythmic music, unforgettable songs, as well as looks on television. His real names are Oladapo Daniel Oyebanjo and this musician was born in Zaria, Kaduna State on June 9, 1980.

Although the Koko Moster doesn’t fo more of music these days, he is still one of the richest musicians due to various investments and endorsement deals.

5) 2Baba

2Face who recently changed his stage name to 2Baba is a legendary Nigerian singer and one of the richest musicians in the country. He has been in the industry for over 20 years now and it is no surprise that he makes it to this list of the richest Nigerian musicians 2020.

His real names are Innocent Ujah Idibia and 2Baba was born in Jos, Plateau State, Nigeria. He is a Nigerian singer, songwriter, record producer, entrepreneur, philanthropist, activist and one of the most respected musicians in the Nigerian music industry.

2baba currently has an estimated networth of around $15.6 Million and he occupies the fifth spot on this list if the richest musicians in Nigeria for 2020.

6) Peter Okoye (Mr P)

We all know the popular duo known as PSquare no longer exists but they are doing quite well separately. They used to occupy the first spot on most verified lists of the richest Nigerian musicians but since they disbanded in 2016, they now occupy the sixth and seventh spots respectively.

Peter Okoye is slightly richer than his brother and he is ranked as the sixth richest musician in Nigeria. Mr P has fleets of cars, mansions, investments and profitable endorsement deals signed with top brands like Olympic Milk, Kia Motors, and several others.

Mr P’s networth is estimated to be around $14 Million and he is one of the richest musicians in the country.

7) Paul Okoye (Rudeboy)

Occupying the 7th spot on this list of the richest Nigerian musicians is Paul Okoye is professionally known as Rudeboy. He was a member of the defunct PSquare group and he is Nigerian singer, songwriter and music producer.

Rudeboy is currently signed into Fire Department Inc (FDI) which he owns and since he started his solo career, he has released numerous hit songs and featured many top Nigerian musicians in his songs.

He currently has an estimated networth of $13.7 Million and he is one of Nigeria’s richest artists.

8) Timaya

Enitimi Alfred Odom popularly known by his stage name as Timaya is a famous Nigerian singer, songwriter, stage performer and a recording artist. He is one of the richest Nigerian musicians right now and he occupies the 8th spot on this list.

Timaya who is also called Egberi Papa 1 of Bayelsa and Dem mama soldier was born on the 15th August 1980 in Port Harcourt, Rivers State in the south southern part of Nigeria. He is a very rich musician who loves to keep a relatively low profile in Nigeria.

9) Banky W

Banky W whose real names are Olubankole Wellington was born on the 27th of March, 1981 and he is a Nigerian singer, rapper, actor and politician. He is also the owner of EME records which is now a talent management company focused on creative marketing, advertising, PR and brand events.

This Nigerian musician is one of the most bankable artists in the country and he is happily married to popular Nigerian actress and model – Adesuwa Etomi. Banky W declared his intention to run for the Lagos’ Eti-Osa Federal Constituency seat in Nigeria’s House of Representatives on November 11, 2018, under the platform of Modern Democratic Party, formed in 2017.

He later lost the Eti-Osa Federal Constituency Elections to Babajide Obanikoro of the All Progressive Congress but this hasn’t deterred his interest in politics as he hints on running for another post in the next elections.

Banky W is the 9th richest musician in Nigeria and he has an estimated networth of $9.7 Million according to Forbes.

10) Olamide

Olamide is a very popular Nigerian musician and his real names are Olamide Adedeji. He is an indigenous Nigerian singer and rapper who mostly records music in Yoruba which is his native tongue.

This Nigerian musician is one of the richest artistes in the country right now and he occupies the 10th position on this list of the richest musicians in Nigeria 2020.

Olamide released his debut studio album Rapsodi in 2011 while signed to Coded Tunes and he later released a follow-up album titled “YBNL“, under his label imprint – YBNL Nation. His record label known as YBNL Nation is one of the biggest record labels in Nigeria and it has produced many top Nigerian artistes like Lil Kesh, Fireboy, Lyta, Adenkule Gold amongst others.


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