The Nigerian music industry is one of the fastest-growing industries nationwide, and over the years, it has produced many talented musicians. This article covers the top 10 richest Nigerian musicians in 2022.
According to Wikipedia;
The music of Nigeria includes many kinds of folk and popular music, styles of folk music are related to the multitudes of ethnic groups in the country, each with their own techniques, instruments, and songs. Little is known about the country’s music history prior to European contact, although bronze carvings dating back to the 16th and 17th centuries have been found depicting musicians and their instruments. The country’s most internationally renowned genres are Indigenous, Apala, Fuji, Jùjú, Afrobeat, Afrobeats, Afro-juju, Waka, Igbo rap, Yo-pop, Gospel. The largest ethnic groups are the Igbo, Hausa and Yoruba. Traditional music from Nigeria and throughout Africa is almost always functional; in other words, it is performed to mark a ritual such as a wedding or funeral and not to achieve artistic goals. Although some Nigerians, especially children and the elderly, play instruments for their own amusement, solo performance is otherwise rare. Music is closely linked to agriculture, and there are restrictions on, for example, which instruments can be played during different parts of the growing season.
Work songs are a common type of traditional Nigerian music. They help to keep the rhythm of workers in fields, river canoes and other fields. Women use complex rhythms in housekeeping tasks, such as pounding yams to highly ornamented music. In the northern regions, farmers work together on each other’s farms and the host is expected to supply musicians for his neighbours.
The issue of musical composition is also highly variable. The Hwana, for example, believe that all songs are taught by the peoples’ ancestors, while the Tiv give credit to named composers for almost all songs, and the Efik name individual composers only for secular songs. In many parts of Nigeria, musicians are allowed to say things in their lyrics that would otherwise be perceived as offensive.
The most common format for music in Nigeria is the call-and-response choir, in which a lead singer and a chorus interchange verses, sometimes accompanied by instruments that either shadow the lead text or repeat and ostinato vocal phrase. The southern area features complex rhythms and solo players using melody instruments, while the north more typically features polyphonic wind ensembles. The extreme north region is associated with monodic (i.e., single-line) music with an emphasis on drums, and tends to be more influenced by Islamic music.
Richest musicians in Nigeria in 2022
Nigeria has the best musicians in Africa. Nigeria also boasts of having the most prominent music industry in Africa that hosts many top international artists.
Timaya, Wizkid, 2face, P-Square, and many others were financially poor from their roots, but today, thanks to their outstanding careers in the music industry, they have gained fame worldwide.
Here is a list of the top 10 richest Nigerian musicians/artists in 2021. Most of the musicians that made it to our list of top 10 richest musicians in 2021 were also among the top 10 richest musicians in Nigerian for 2020.
Top 10 richest Nigerian musicians in 2022
- Wizkid – Net worth of $21 Million
- Davido – Net worth of $19.5 Million
- Don Jazzy – Net worth of $18.5 million
- Burna Boy – Net worth of $17 million
- 2Baba (2Face) – Net Worth of $16 million
- Olamide – Net Worth of $12 million
- Phyno – Net Worth of $11 million
- Timaya – Net Worth of $10.5 million
- Peter Okoye and Paul Okoye – Net Worth of $10 million each
- Flavour – Net Worth of $9.8 million
1. Wizkid – Net worth of $21 Million
Wizkid tops Clacified’s list of the top 10 richest musicians & artists in Nigeria. Wizkid’s net worth is estimated at 21 million U.S dollars in 2022.
Apart from singing, Wizkid also secured many endorsements deals with MTN Nigeria and GLO ( which paid him N120 million to become its ambassador).
In 2020, the singer secured an endorsement deal with the mobile technology company Tecno and another deal with the international sportswear brand Puma.
Wizkid also increased his net worth when he secured multi-million deals with Pepsi and Guinness that brought him more money on the table.
In July 2019, the talented singer added more to his net worth after confirming a mega-deal signing for United Bank for Africa (UBA) as their brand ambassador.
Singer Ayodeji Ibrahim Balogun proudly known as Wizkid is a singer and songwriter. Wizkid began his musical carrier at the age of 11 in a local church near his home. Back then, he joined a local band called the Glorious Five.
Wizkid released an album at the age of 11 in collaboration with the group Glorious Five.
Wizkid later met OJB Jezreel during his struggling days, and he became his mentor. He then started visiting Jezreel’s studio, watching and learning from the recordings by artists like 2 Face Idibia and Sound Sultan.
Wizkid then joined Empire Mates Entertainment (E.M.E) in 2009, and from there, his career in the music Industry kick-started.
Born on the 16th of July, 1990, in Surulere, Lagos, Wizkid was the first Nigerian musician to rise to be recognised in the Guinness Book of World Record for the most played song on Spotify.
This is as a result of the song he did with Drake titled “One Dance”. In 2020, the ‘star boy’ had released the music album, ‘Made in Lagos’ featuring interesting tracks like ‘Reckless’, ‘Ginger’ and ‘Essence’, which made it to Barack Obama’s list of favourite songs’Essence’,.
Wizkid is the founder of ‘Starboy Entertainment’. He is a perfect example of a singer who has gone from below the ladder to the top.
Hopper ranks Wizkid number 37 in its list of Instagram Rich Celebrities 2020, with each of his posts estimated to cost $57,300.
According to the 2020 Forbes list, Wizkid is one of the richest Nigerian musicians with a $20 Million networth. Still, a year after, Wizkid is rated the top richest musician in Nigeria in 2021.
Wizkid’s car collections and houses
Wizkid has a luxurious mansion in Surulere worth about N13 million and another one located in the United States, Los Angeles, to be specific. Among Wizkid’s carr collections are:
- BMW X6 crossover (₦8.7 million)
- Porsche Panamera (~₦50.8 million)
- Lamborghini Urus (₦80 million)
- Used Mercedes Benz G63 AMG (₦55 million – ₦65 million)
2. Davido – Net worth of $19.5 Million
David Adeleke, popularly known as Davido, is the second richest musician and artist in Nigeria in 2022. Davido’s net worth is estimated at 19 million U.S dollars.
Davido was born in Atlanta, United States of America, to the wealthy Nigerian family of Dr Adedeji Adeleke. His father is the co-founder of Adeleke University in Osun state and the CEO of Pacific Holdings Limited.
Davido’s net Worth is from music and endorsement projects such as the $78,296 MTN endorsement deal, Guinness Nigeria, and Infinix mobile.
Davido also performs in local and international shows, where he earns as much as N10 million per performance (in Nigeria) and $30,000 for international performances.
Davido net worth and wealth is also affected positively by his YouTube channel, which has attracted over 663 million views since it was created.
Also, Davido’s Instagram account is not left out. In fact, according to Hopper, each of Davido’s posts on Instagram has an estimated value of $91,100. He ranks number 29 in the world ranking of Instagram Richest Celebrities.
Davido released ‘Dami Duro’ on October 30, 2011. He co-produced the single with Shizzi, which Clarence shot in Lagos.
The song Dami Duro came with an amazing video in Jan. 2012, and it became the talk of the town with frequent airplay by the media.
On July 17, 2012, Davido launched his debut studio album, ‘Omo Olowo’. The album Omo Olowo was debuted under HKN Music Record Label. This song also became a major hit which gained Davido more fans.
Since then, he has released countless singles, which have brought him popularity, money and international recognition. His most recent album, ‘A Better Time’ was released on 13th November 2020 and made up 213 million streams across all platforms just a month after its release.
Davido was the OBO executive producer. He worked with other producers like Spellz, Jay Sleek, Maleek Berry, among others.
Davido has two mansions in Lekki, Lagos, and a getaway mansion in Georgia, USA. Davido’s car collection is dazzling with:
- Rolls Royce Cullinan 2019 (~₦350 million)
- Lamborghini Aventador 2021 (~₦300 million)
- Bentley Bentayga (₦108 million)
- Bentley Continental GT (~₦95 million)
- Porsche Panamera Turbo S (~₦22.8 million)
- Range Rover Sports (₦84 million – ₦90 million)
- Range Rover SV Autobiography (₦98 million)
- Chevrolet Camaro GS (₦9.4 million)
- Audi R8 (₦23.4 million)
- Audi Q7 (₦12 million)
- Mercedes-AMG GLS63 (~₦45 million)
- Mercedes G-Wagon (~₦21 million)
- Toyota Land Cruiser (~₦30 million) several cars like a Porsche, Range Rover Sport and Chevrolet Camaro
3. Don Jazzy – Net worth of $18.5 million
In the music scene, Collins Michael Ajereh, known as Don Jazzy, is the third richest Nigerian Musician in 2022. Don Jazzy is an indigene of Umuahia in Abia State. His birth date is the 26th of November, 1982.
on Jazzy’s net worth is estimated to be over $18 million. Don Jazzy is not only a musician, but he is also a music producer and an entrepreneur. This rich music star is the CEO of the Mavins Records Label.
Don Jazzy’s musical career started with his collaborations with D’banj, where the duo made different hit tracks as Mo’hits. This was before they parted ways about a decade ago. It was after the separation that Don Jazzy created the Mavins Records Label.
Don Jazzy is known to have an eye for talents. On 21, 2020, he announced the signing of a female artiste, Ayra StarrAyra Starr, into his music fold.
Thus, Ayra Starr joined the other fresh talents who Don Jazzy signed under the Mavins Records, such as Rema, Ladipoe and Koredo Bello.
So far, Ayra Starr isn’t doing bad for herself as she already got tongues wagging with the release of her debut EP, which started with the trilling song, ‘Away.
Don Jazzy is known for his wonderful music production. His hard work, in addition to his persistence, has helped him in his business dealings with artists both within and outside the country.
Don Jazzy has successfully groomed and established several talented musicians that we celebrate today, such as Wande Coal, Tiwa Savage, Reekado Banks, D’Prince and many others.
Aside from his music career, Don Jazzy also has profitable contracts with companies like MTN and Loya Milk. Also, among Don Jazzy”s most prominent and recent deals is his endorsement deal with V-Bank.
V Bank, Nigeria’s leading digital bank, announced the extension of its deal with Don Jazzy in December 2020. The bank executives had presented him a V Bank branded hoodie to symbolise the renewed one-year contract.
Unsurprisingly, Don Jazzy has won numerous awards as a top music producer. Don Jazzy seems not to be perturbed about marriage as he has focused more on building his music career and raising more talents for the music industry.
Don Jazzy’s houses and cars
Don Jazzy has acquired for himself 3 mansions. One of the mansions is on Banana Island; the other is in Lekki, while the third house is in Los Angeles. Trust that this rich musician will have exotic cars- amongst his rides are:
- Porsche 911 Carrera (~₦42 million)
- Bentley Continental (~₦25 million)
- Cadillac Escalade (~₦27.2 million)
- Used Mercedes Benz E350 (~₦20 million)
4. Burna Boy – Net worth of $17 million
Burna Boy’s real name is Damini Ebunoluwa Ogulu. He is a Nigerian singer, rapper, songwriter, and dancer. Burnaboy comes from Mbiama in Ahoda West LGA of Rivers State.
Burna Boy was one of the richest Nigerian musicians and artists in 2022; Burna Boy’s net worth is estimated to be $17 million. He is also rated as one of the best musicians in Nigeria.
Burna was born in Port Harcourt. His parents had relocated to Port Lagos State after some time.
When Burna Boy’s parents relocated to Lagos, It was more like a nice move for him as that even helped his career- remember that many of the big names in the industry and the best music resources are found in Lagos.
Burna Boy started gaining recognition in the music industry in 2012 when he released his hit single ‘Like to Party’ from his debut album L.I.F.E.
Burna Boy sold Up to 40,000 copies of L.I.F.E. on the first day of its release. Also, Burna Boy sold L.I.F.E marketing rights to Uba Pacific for 10 million Naira.
Burna boy left Aristokrat records in 2014, and in 2015 he established his record label named Spaceship Entertainment. He debuted his second album ‘On a Spaceship’ on the 25th of November 2015.
Burna Boy’s music career has been filled with success stories as he has been making waves both nationally and internationally.
In 2020, Burna Boy released his most recent music album, Twice as Tall, making waves nationally and internationally. Twice as Tall earned him a 2021 Grammy Award nomination for the Best Global Music Album.
Clacified also reported that Burna Boy, alongside another top artiste, Wizkid won prizes at the 2020 MOBO Awards.
Currently, he is a brand ambassador to Globacom, Nigerian Breweries Plc, and Mortell Cognac.
Burna Boy’s cars and houses
Burna Boy loves exotic cars. He once said he purchased his first ride, a Range Rover, at the age of 17. Check out some of Burna Boy’s cars:
- Mercedes-Benz G Wagon.
- 2013 Ferrari 458 Italia
- Rolls Royce Down Convertible
5. 2Baba (2Face) – Net Worth of $16 million
Number 5 in our list of top 10 richest musicians in Nigeria in 2022 is Innocent Ujah Idibia, also known with his stage name 2Baba or 2Face.
2Fcae was born in Jos, Nigeria, on 18th September 1975. Even though he was born in Jos, he is an indigene of Benue State.
2Face is the 5th richest Musician in Nigeria in 2022, with a net worth of $16 million. 2Baba improved in his music skills and rose to become one of the best Afropop artists in Africa.
At first, he started with the Plantashun Boiz group, after which he went solo. One would think he would fall off the music industry radar. But, no, he held on even flourishing while on his own.
During his early career years, Kenni Music signed him. It was with Kennis Music that he released his first music album, ‘African Queen’.
Indeed, the African Queen brought him to the limelight in the year 2004. Since the debut of that song, Tuface has remained top of his game as he has made major hits back to back.
He has won different awards like the MTV Music Awards, Headies and BET Awards.
Tuface’s luxurious apartment and cars
Even though 2face likes living a private life, it’s not hard to tell that he possesses luxurious cars and houses.
He owns two houses in Lagos, one apartment in the US, and relaxation lounges in Ikeja, FESTAC and Lagos Island.
2baba is not very open about his collection of cars, but here are the cars that were caught ridden by 2Face:
- Chevrolet Corvette Coupe (~₦45million)
- Ferrari Coupe (₦57 million – ₦80 million)
- Used Toyota Land Cruiser Prado (₦30 million – ₦52 million)
6. Olamide – Net Worth of $12 million
Olamide Adedeji chose to retain his first name Olamide on stage. However, he is also called Baddo due to his street music’s nature. Olamide was born on March 15th, 1989, in Bariga, Lagos State.
Are you wondering about Olamide’s net worth? Olamide’s net worth is estimated to be $12 million – making him the 6th richest musician in Nigeria in 2022.
Olamide is well known to sing mostly in his native language Yoruba, and this has gained him many fan bases and followership across western Nigeria, especially Lagos.
Olamide, who now has an estimated net worth of $12 million, commenced his journey into the music world with the Coded Tunes label but currently puts a lot of effort to raise a few other artists through his YBNL record label.
Olamide’s music career started flourishing in 2012 following the release of his song, Eni Duro. His 2011 album, Rapsodi, also did very well.
Rapsodi was followed by YBNL, his second album featuring some single hits that gained him even more fame within a short duration.
Today, this music icon has up to seven studio albums to his name.
He has bagged many awards in the Nigerian music industry, such as the Best Indigenous Artist, Album of the year. He has also received many nominations.
Olamide’s houses and cars
Being the 6th richest musician in Nigeria has an estimated net worth of $12 million. Olamide owns 2 mansions in Lekki and Bariga, Lagos. He also has a flashy garage with some expensive cars, including:
- Toyota Venza (#6 million)
- Range Rover Sports (#15 million)
- Mercedes-Benz G Wagon (~₦23 million)
- Range Rover Sports V8 (₦84 million – ₦90 million)
- Used Rolls-Royce Phantom (~₦204 million)
7. Phyno – Net Worth of $11 million
The next top music star in our list of the top 10 richest musicians in Nigeria in 2022 is Chibuzo Nelson Azubuike, aka Phyno. He was born on the 9th of October 1986.
Phyno reportedly had his name coined from the English word, “Phenomenal”, which portrays a high taste and musical brand.
Phyno is the 7th richest musician in Nigeria in 2022, with an estimated net worth of $12 million.
Phyno is not only a talented musician but one who loves academics. He is one of the few Nigerian musicians to have actually completed their undergraduate studies. In addition to being a successful musician, he is a graduate of Public Admin.
Obviously, going into music isn’t a bad decision for Phyno, as that move threw him into the spotlight.
Undoubtedly, making music was a good move by Phyno as this has thrown him into the spotlight.
Phyno comes from Anambra state. He is the fourth child out of five children. He was brought up in Enugu state, and that was where he completed his academics before venturing into music.
Phyno’s initial plan was to become a medical doctor or a pilot. However, he was also talented when it comes to playing musical instruments like the piano and drum. He always created his rendition of interesting recordings he listened to.
The singer later started his music career in 2003 and even relocated to Lagos state for that purpose. He has also acted as a producer for such well-known stars as Flavour, Timaya, Mr Raw, and others.
He is a very close friend of Olamide Baddo, as they both carry the pride of their local identities being the Igbo and Yoruba languages, respectively.
Phyno has won different awards, including the best song of the year award and the best collabo.
Phyno’s most recent music collaborations are his appearance in the music video for Flavour’s song, ‘Doings’ and a team-up with DJ Kaywise to deliver the banger, ‘High Way’ in 2020.
Phyno also wrapped up 2020 with his song’s official video release, ‘For The Money’ featuring Perruzi. ‘For The Money’ came shortly after releasing his 2020 debut single, ‘Never.
Phyno’s Cars and Houses
As one of Nigeria’s richest musicians, Phyno owns many extravagant assets such as a 3 bedroom duplex worth about N170 million at Chevy View Estate, Chevron Drive in Lekki, another mansion at Enugu State.
He also owns expensive cars, including a Rolls Royce Phantom:
- Rolls-Royce Phantom (~₦204m)
- Lamborghini Gallardo Spyder (₦74.6 million – ₦117.9 million)
- Polaris Slingshot (~₦7.3 million)
- Bentley GT Coupe (~₦72.7 million)
- Range Rover Sports (₦84 million – ₦90 million)
- Toyota Avalon (~₦11 million)
8. Timaya – Net Worth of $10.5 million
“The plantain boy”, as Timaya always calls himself, was born on the 15th of August, 1980. This singer makes it to our list of the top 10 richest musicians in 2022 as number 8.
Timaya’s official name is Initime Alfred Odom. He started a music group called ‘Dem Mama Soldiers. With this music group, Timaya kick-started his musical career.
Timaya’s net worth is estimated to be $10 million – making him the 8th richest musician in Nigeria.
The King of Dancehall in Nigeria began his music career from the lower ranks. In fact, he started as a backup singer for some musicians before he finally went solo with K Solo’s help.
His first professionally released song was ‘True Story, released in 2005. True Story was closely followed by other big hits like ‘Gift and Grace’ released in 2008 and De Rebirth, his third album.
Timaya is the CEO of the DM record label, which he signed King Perry to. This was after he groomed the likes of Runtown and Patoraking under the record label.
Timaya’s houses and cars
Timaya has a mansion worth ₦250 million at Lekki, Lagos State. If you are an active follower of Nigerian artists on Instagram, you will surely be informed of his 3 Mercedes G-Wagon cars in different colours, which once went viral on the social medium platform.
Besides the Benzs, Timaya’s car collection is enviable with other expensive rides; see below:
- Porsche 911 Carrera (~₦42 million)
- 2 Range Rover Sports (₦84 million – ₦90 million)
- Mercedes-Benz G55 AMG (₦60 million – ₦85 million)
- Mercedes-Benz GLE (₦20 million – ₦22 million)
- Bentley Continental GT (~₦76 million)
- Lexus LX570 2015 (₦29,000,000 – ₦39,000,000)
- Used Lexus GX 460 (₦25 million – ₦42 million)
9. Peter Okoye and Paul Okoye – Net Worth of $10 million each
Peter and Paul Okoye, the twin music artists, became stars from standing together to form the P-Square music brand. This duo made it to our list of the top 10 richest musicians in Nigeria in 2022.
Peter and Paul were born in November 1981; in Jos, Plateau State. They already built their music career to an enviable height until they parted ways due to misunderstanding.
Peter, or Mr P as he is called, had made ambassadorship deals with Kia Motors and Olympic Milk.
Mr P’s Cars and Mansion
Mr P has different luxurious houses. There is one in Lagos, Nigeria, and another one in Atlanta, USA. He is also a real car collector. He owns varieties of exquisite cars such as:
- 2 Range Rovers (₦50 million – ₦82 million)
- BMW X6 (₦23.5 million – ₦28 million)
- Dodge Challenger (₦10.8 million – ₦22 million)
- Porsche 718 Cayman (~ ₦22 million)
- Mercedes AMG GL63 (~₦45 million)
- Bentley Mulsanne (~₦125 million)
- Jeep Wrangler (~ ₦12.6 million)
Paul Okoye (Rudeboy)’s Cars and Mansion
Like his brother, Paul Okoye, currently known as RudeBoy, has mansions both within and outside Nigeria.
His collections of cars include:
- Rolls-Royce Phantom (~₦204 million)
- Rolls Royce Ghost (₦191 million – ₦247 million)
- Land Rover Range Rover (₦50 million – ₦82 million)
- Lamborghini Gallardo (₦74.6 million – ₦117.9 million)
10. Flavour – Net Worth of $9.8 million
Chinedu Okoli, popularly known as Flavour, was born on the 23rd of November 1983 in Enugu State. He is from Orumba South Local Government Area in Umunze, Anambra state.
Flavour’s net worth is estimated to be at $9.8 million in 2022 – making him the 10th richest musician in Nigeria in 2022. Flavour is currently signed to 2nite Entertainment.
Music for Flavour started at the age of 13; he started as a young boy who loves to drum and became the drummer for his church choir.
His professional drum career started in 1999 after he studied music due to an invitation to join the professional music company on the grounds of scholarship.
Like the other artists in this list of richest Nigerian musicians 2022, Flavour has signed endorsement deals with top brands like MTN Nigeria, Nigeria Breweries life Beer and energy drink bullet.
In his first album, ‘Nabania’, which brought him to the limelight, Flavour collaborated with Mr Raw.
Flavour has garnered lots of awards for different categories such as the 2014 Channel O Music Video Awards, Most Gifted Afro Pop “Ada Ada” Nominated
- 2014 Nigeria Entertainment Awards Indigenous Artist of the Year Nominated
- He also won Best Traditional Artist -Best Video of the Year “Ada Ada” – Won
- City People Entertainment Awards Musician Of The Year (Male) Nominated
- Best Collabo of the Year “Oh! Baby (You & I)”(Chidinma featuring Flavour N’abania) Nominated
- Video of the Year “Ada Ada” – MTV Africa Music Awards 2014 – Best Live Act
Flavour can not be exempted from this subject matter when one talks about celebrities known for exotic lifestyles. Flavour has a great sense of car choices. His car collections include:
- Lexus LX 570
- Black Mercedes Benz G-wagon (40 million)
- Land Rover (N25 million)
- BMW X6 (18 million)
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