24 Richest Musicians In Nigeria

From hip-hop to Afrobeats, Nigeria has a vibrant music scene where talented artists can become successful and achieve international fame.

While most people immediately think of names like Davido or Burna Boy when the topic of Nigerian music comes up, there are many other successful Nigerian artists. So let’s take a closer look at the richest musicians in Nigeria.

9ice – $1.2 Million

With his unique lyrics in Yoruba, 9ice highly represents the indigenous influence on the modern Nigerian music industry.

This artist has been making music since the mid-90s but wasn’t famous until the early 2000s. With 12 albums and hits like ‘Gongo Aso,’ royalties and physical sales have contributed to his net worth.

9ice also earned money by performing at concerts, including the Nelson Mandela 90th Birthday Tribute Concert in 2008.

The singer spent money on a political campaign when he ran for the Nigerian House of Representatives in 2015. He has also bought a luxurious home in Lekki and owns exotic cars, including a Ferrari LaFerrari that cost $1.5 million at its release.

Duncan Mighty – $1.5 Million

With five studio albums and hit duets with Nigerian artists like Tiwa Savage and Yemi Alade, Duncan Mighty is an incredibly successful recording artist. His background as an audio engineer allows him to produce high-quality music that blends reggae, R&B, and hip-hop.

Duncan Mighty’s net worth comes from his successful musical career. With over 111,000 monthly listeners on Spotify, royalties represent a steady income. The artist has also invested some of his money in business ventures that have paid off.

Duncan Mighty doesn’t live a luxurious lifestyle. However, the artist has spoken about the importance of sharing his wealth with those around him, and he genuinely enjoys being able to make a difference around him.

He is currently working on creating a TV station, a project representing a significant investment of time and money. He also showed that he likes having fun with his money by organizing a contest on social media and awarding 200,000 Naira to the winner.

Runtown – $1.6 Million

Runtown is a talented Nigerian artist who built wealth by releasing and producing music. He is one of the few successful artists who self-produced his first tracks with the release of ‘Mad Over You’ in 2016.

The R&B artist is also a successful producer. He was a partner on the Penthauze label before launching his record label in 2018, Soundgod Music Group. Co-writing and co-producing the Davido song ‘Aye’ was another lucrative project for the young artist.

Runtown's modern and edgy image helps him secure large endorsement deals with brands like Versace or Adidas.

 Runtown doesn’t display his wealth on social media and focuses on artistic content instead. However, the singer and producer owns a Lamborghini Gallardo worth around $110,000 and spends money supporting the non-profit, We Are New Africa.

Wande Coal – $1.7 Million

Wande Coal got his start in the entertainment industry as a dancer. However, his writing and singing talent quickly became evident, turning him into a star. His song ‘Ololufe’ is still one of the most recognizable Nigerian love songs.

The artist released a total of three albums between 2009 and 2020. With an impressive 1.8 million monthly Spotify listeners, royalties significantly contribute to his net worth. Wande Coal has signed endorsement deals with brands like Globacom or Guaranty Trust Bank and owns the record label Black Diamond Entertainment.

When it comes to spending money, Wande Coal remains discreet. The singer tends to keep his life private, probably to protect the privacy of his young son. However, the singer and producer appeared on social media with imposing gold chains and a stylish gold watch.

Chidinma Ekile – $2.8 Million

Chidinma Ekile launched her music career by winning the third season of Project Fame: West Africa. She released two studio albums, two EPs, and over 15 singles. She also appeared on over ten tracks as a featured artist.

Her albums and singles are a reliable source of royalties contributing to her net worth. Still, Chidinma Ekile recently launched her fashion brand, NMA Clothings, to earn an additional income.

The singer initially recorded Afropop music but announced she would become a gospel artist in 2021. This decision reflects her values, and the artist prefers leading a simple lifestyle where religion and philanthropy are essential values.

Her Instagram shows simple vehicles and a mix of stylish but straightforward outfits and accessories. Chidinma Ekile also launched the NMA Foundation, a non-profit dedicated to helping blind children in Africa. She likely contributes to this important cause with her time and financial resources.

Yemi Alade – $4 Million

Yemi Alade rose to prominence with her 2014 hit ‘Johnny.’ Since then, this successful Nigerian artist has released five studio albums and gone on as many world tours.

The ticket sales from these world tours contributed to her net worth, but Yemi Alade is also the first female artist from Africa to get over one million subscribers on YouTube. Online streams represent a significant source of royalties.

Yemi Alade also worked as a coach on seasons two and three of The Voice Nigeria and appeared in ads for Shell Oil. She is also a successful fashion designer and launched her own brand called House of Tangerine.

Yemi Alade lives life to the fullest. She doesn’t share pictures of flashy vehicles and has kept her residence a secret. Still, her Instagram includes images of her wearing stylish outfits, and she also enjoys spending money on travel and leisure.

M.I. Abaga – $4 Million

With five studio albums and various mixtapes, M.I. Abaga is a successful Nigerian rapper with a large fanbase. His net worth results from stream royalties, live performance, and earnings from multiple activities.

These activities include appearing as a judge on a season of Glo X-Factor, acting in two movies, and working as CEO of the record label Chocolate City before launching Incredible Music in 2020. M.I. Abaga has also represented brands like Glo Mobile. 

His Instagram shows that the rapper enjoys traveling, which might be one of the things he spends his money on. He has also posed with luxury vehicles like a Mercedes G Wagon or Bentley Continental GT.

KCee – $4.5 Million

KCee is a singer and producer and the brother of Nigerian millionaire E-money. He has released two studio albums and established himself as a successful producer by winning a Producer of the Year Award in 2013.

His net worth results from earning royalties and concert ticket sales over the years. He also signed two endorsement contracts with MTC worth millions each in 2013 and 2015.

His brother, E-Money, is at the head of Five Star Group and Emy Cargo Limited. These successful business ventures are a food company and a freight business. KCee has received expensive gifts from his brother and might have financial interests in these companies.

KCee has invested in real estate by purchasing a luxurious home in Lagos. The singer also owns a mansion in the village where he grew up in Anambra.

The singer’s Instagram is full of images where KCee posts with diamond jewelry, but the singer also owns a Toyota Land Cruiser worth $85,000 and a gold-plated Cadillac Escalade.

Patoranking – $5 Million

Pantoranking is a dancehall and reggae singer with three studio albums and over 25 singles released since 2009. He has also appeared as a guest on musical tracks.

His prolific musical career earned him royalties, but Patoranking became a multimillionaire thanks to concert ticket sales. His background as a dancer makes him an exertional live performer.

Launching the record label Amari Musiq in 2018 and becoming an ambassador for brands like Skyy Vodka and Air Telecommunication also contributed to his net worth.

Pantoranking owns a luxurious home in the Elite Metro Garden community in Lagos. The artist also has an expensive collection of cars, including a Porsche 911 worth around $105,000, a Porsche Boxster valued at $65,000, and a Lamborghini Urus that retails for $235,000.

The artist also spends money to help Nigerian students through the ALU Patoranking Scholarship program he launched in 2019.

Harrysong – $5 Million

Harrysong emerged as a successful Nigerian artist in the early 2010s. This pop and R&B singer has released three studio albums and recorded nearly 20 singles, including hits like ‘Beta Pikin’ or ‘Mandela,’ one of the most downloaded ringtones of the early 2010s.

These hits helped him earn millions through downloads, streams, and physical sales. The artist has also represented significant brands like UAC Foods. However, he recently revealed that he had lost on some lucrative endorsement deals because he feared falling victim to online scams.

Harrysong is enjoying success and spending money on himself and his family. The singer has purchased a gorgeous home in the state of Lekki Lagos and seems to enjoy collecting cars.

He has recently appeared with a Mercedes Benz S Class, a car valued at $124,000. However, Harrysong’s Mercedes is a bulletproof Mercedes worth even more. The singer also owns a Hummer and enjoys posing with retro cars on social media.

Dr. Alban – $5 Million

Dr. Alban is a Europop artist who has achieved success since the 1980s. He is originally from Nigeria and moved to Sweden as a dentistry student. After working as a dentist for some time, he decided to pursue a full-time career as an artist and DJ.

With hits like ‘It’s My Life’ or ‘Hello Afrika,’ Dr. Alban has sold an impressive 16 million records worldwide. Commercial successes in Germany and Austria have contributed to his net worth, but the artist also owns the record label Dr. Records.

Dr. Alban is a private person who doesn’t share much about how he spends his money.

Falz – $5 Million

Falz established himself as a successful rapper by writing humorous and satirical lyrics set to catchy Afropop tunes. From early successes like ‘Wahz Up Guy’ to achieving mainstream fame with ‘Marry Me’ in 2014, Falz has consistently earned money through record sales and online streams.

In 2018, his take on Childish Gambino’s ‘This Is America’ titled ‘This Is Nigeria’ went viral on social media and resulted in millions of views.

Falz also earns an income through his record label Bahd Guys Records, and has collected 12 movie and TV credits. Performing in concerts and events like ISLFEST is another source of revenue, as well as endorsements for companies like Bamboo Invest.

Falz mainly uses his social media presence to raise awareness of important issues affecting Nigeria and encourage people to vote. Still, he doesn’t share much about his lifestyle or how he spends his millions.

Tiwa Savage – $6 million

Tiwa Savage started as a backup singer and started making a name for herself by appearing on the UK edition of the X Factor. Since then, the singer has released five studio albums and become the most successful female artist from Nigeria and one of the highest paid musicians in Nigeria.

Besides earning a steady income with concert ticket sales, record releases, and royalties, Tiwa Savage's robust online presence makes her a prime candidate for partnerships with major brands.

She has appeared in digital marketing campaigns for brands like Pepsi, Nestle, and more. She also launched a makeup collection with MAC and co-produced the upcoming movie Water & Garri.

Tiwa Savage is famous for spending money on jewelry and accessories. Her Instagram is full of images where she poses with stylish outfits and diamond jewelry.

Among her most expensive possessions, Tiwa Savage counts a custom-made gold pendant encrusted with diamonds that spells out Savage. This accessory cost an impressive $200,000.

She also owns a Patek watch worth $140,000, a Mercedes Benz V250 valued at $77,000, and some customized grills with diamonds that spell out Savage.

Ice Prince – $7 Million

Ice Prince is a highly accomplished hip-hop artist with an impressive career spanning nearly 15 years. He began by signing a deal with the renowned Chocolate City before branching out to establish his record label, Super Cool Cats.

As the singer of ‘Oleku,’ the most remixed song in Nigeria, Ice Prince earns millions from royalties. His net worth also comes from sales for the three studio albums he released and his movie and TV credits.

He also made money by representing brands like Jovago or Etisalat and launching a line of sunglasses called Superfly.

Ice Prince likes spending his money on luxury items. Examples include diamond jewelry, high-end watches, and brand-name clothes. The artist also owns an ATV and some luxury cars, including a Range Rover Sport worth $80,000 and a Bentley GT Coupe priced at over $200,000.

Reminisce – $7 Million

Reminisce earned worldwide recognition after appearing in Time Magazine's article about world rappers in 2014. The artist was already famous in Nigeria thanks to hits like ‘Ever Since’ or ‘If Only.’

Reminisce has released four albums and recorded over 20 singles in his career. He has collaborated with notable artists such as Olamide, Davido, Wizkid, and Falz. Due to his consistent online streams and physical sales, Reminisce earns a steady income.

The rapper also signed contracts with brands such as Samsung, Frapapa, and Orijin. Plus, he used his music industry knowledge to launch the record label LRR Records.

Reminisce owns a beautiful home in Lagos, but the rapper enjoys his privacy and doesn’t share much about his lifestyle online. His Instagram reveals that he spends money on vacations, but most of the content he shares shows the work that goes into recording and producing music.

Tekno – $8 Million

With his unique mix of hip-hop and Afrobeat, Tekno is one of his generation's most influential Nigerian artists. He signed his first recording contract in 2013 and has remained a prominent artist by releasing hit singles and appearing as a guest on multiple tracks.

Tekno’s net worth is the product of several hits, such as ‘Buga,’ ‘Pana,’ or ‘Diana.’ He is also a successful producer who has worked on projects with Ice Prince, Davido, and Drake. Plus, Tekno signed a lucrative endorsement deal with MTN to appear in their marketing campaigns.

Tekno moved to the U.S. in 2020. He didn’t reveal where he would live, but it’s safe to say he invested in a luxurious home.

The singer and producer also have a fantastic car collection that he often shares on Instagram. His collection includes a Lamborghini Aventador worth over $700,000 and a Bentley Continental GT worth over $200,000. The rapper also drives a Range Rover HSE valued at over $80,000.

Banky W – $9 Million

Banky W is a highly acclaimed Nigerian singer who has performed actively since 2012. In addition to his musical talents, he is also a skilled actor with a keen interest in politics. His diverse range of abilities has garnered him much recognition and success within the entertainment industry.

His net worth is the result of a decade of releasing successful music. Royalties contribute significantly to his net worth, with over 166,000 monthly streams on Spotify alone. He also acted in four movies, including The Wedding Party 2, a sequel to one of the highest-grossing Nigerian movies ever.

Banky W also founded the record label Empire Mates Entertainment. The label stopped producing music in 2017 and is now a talent agency. It’s one of Banky W’s many business ventures since the singer has invested in fashion, real estate, marketing, and more.

The singer mostly shares images of himself with fans and family members on social media. He doesn’t seem to have a flashy lifestyle, and his latest project is a ministry he founded. However, he ran for the Nigerian House of Representatives in 2018 and likely spent money on this political campaign.

Olamide – $12 million

Olamide is a prolific Nigerian rapper known for his fast flow. After releasing ten albums and appearing in more than 20 collaborations with other prominent artists, he has established himself as one of his generation's most influential Nigerian artists.

His millions come from concert ticket sales and royalties, but Olamide also owns a successful record label called YBNL Nation. He released most albums under his label to maximize his earnings.

Over the years, the rapper increased his net worth by signing endorsement contracts with brands like Ciroc, Guinness, and Itel.

Olamide is a fan of classic cars and appears with retro cars on social media. The rapper also owns a Lamborghini Aventador worth over $700,000 and a Range Rover Sport V8 worth around $120,000.

Olamide owns two or three homes, including an apartment in Bariga and a house on Banana Island. Both places cost $45,000 to $55,000.

The artist recently posted a picture from Malibu. It’s unclear if he enjoys traveling or if he purchased a home in the U.S.

Timaya – $14 Million

Timaya is a successful singer and producer who stands out with his pop and dancehall music blend. His fans also know he is unafraid to share political messages in his songs.

With eight albums and over 25 singles, Timaya is a prolific artist who earns a steady income thanks to physical record sales and online streams. His net worth also comes from launching the label company Dem Mama Records Limited.

Timaya also earned millions by representing brands like Globacom or Hennessy. In 2020, the award-winning artist launched his clothing brand called Chula Brand.

There isn’t much information about how Timaya spends his money. The artist enjoys his privacy and has spoken up against people who display wealth on social media.

D’Banj – $15 Million

D’Banj is one of the most successful Nigerian artists with hits like ‘Oliver Twist’ or ‘Fall in Love.’

This award-winning singer and TV personality built his net worth through royalties, live performances, and TV appearances. Founding the record label Mo’Hit Records was another successful career move, with the label signing artists like Wande Coal or Dr. SID.

D’Banj left the record label in 2012 to focus on his music and use his position to draw attention to social and environmental issues. He also invested in the entertainment company DKM Media and the telecommunication venture Median Mobile.

Besides investing in businesses, D’Banj is using his money to purchase homes in the U.S. and Nigeria and luxury cars. His collection includes a Rolls Royce Phantom worth over $450,000 and Ferrari F430 valued at $170,000.

2baba – $16.5 Million

2baba is an iconic Nigerian artist with his unique mix of Afropop and R&B. The singer has been active since the mid-90s and rose to fame as a member of the band Plantashun Boiz. He began a solo career in 2004 and released hits like ‘Gaga Shuffle’ or ‘Smile.’

Besides earning royalties for his nine albums, 2baba has signed lucrative endorsement deals with brands like Campari, Guinness Beer, and Airtel Nigeria. The artist has also invested his money in Rumor Nightclub and other business interests contributing to his net worth.

2baba has posed with luxury cars on social media. The artist received a gorgeous Chevrolet Corvette worth over $60,000 as a wedding gift, and he also owns a Bentley Continental GT and a Mercedes Benz G-wagon.

Sources claim he owns properties in the U.S. and Nigeria, but it’s unclear where these homes are or how much they’re worth.

Wizkid – $17 million

Wizkid started his musical career at 11 and has established himself as one of the most influential artists in the Afrobeat genre.

With hits like ‘Essence’ exceeding 160 million streams on Spotify, it’s safe to say that royalties account for a significant percentage of his rumored $17 million net worth. However, Wizkid’s popularity also helped him land contracts with major brands like Nike.

Wizkid has invested his earnings in real estate, with a luxurious home in Los Angeles that could be worth as much as $15 million and properties in Lagos. Sports cars are another favorite investment of this groundbreaking artist, with an impressive collection including seven exotic vehicles.

Burna Boy – $22 Million

Since its hit single ‘Like to Party’ released in 2012, Burna Boy has consistently known success. He recently appeared on the viral hit ‘Jerusalema’ and won the 2019 BET Awards for Best International Act.

He is currently the most successful African artist in France and the U.K. His solid online presence ensures ongoing royalties from sources like YouTube, Spotify, or TikTok.

Burna Boy also earned millions through brand endorsements, and the artist recently launched a fashion line in partnership with Boohooman.

This successful Nigerian artist is mostly spending his millions on houses and cars. Burna Boy owns a breathtaking mansion in Beverly Hills and several properties in Nigeria. The artist also has an impressive automotive collection with highlights including a Bentley Continental GT and a Range Rover Autobiography, two vehicles that are respectively worth $235,000 and $150,000.

Davido – $50 Million

With his unique mix of electropop and Afrobeat music, Davido quickly rose to prominence on the Nigerian music scene. He gained international recognition after signing a deal with Sony in 2016 and is now one of the most influential African artists.

Besides earning royalties from his music and selling concert tickets, Davido’s net worth has consistently grown thanks to brand partnerships. The artist recently launched a collection with PUMA.

In 2016, Davido expanded his career by launching a music label known as DMW. This label is renowned for hosting numerous successful artists, including Yonda, Peruzzi, Deekay, and Ayanfe. These artists have been able to showcase their talents under the guidance of Davido, further solidifying his reputation in the music industry.

Davido, one of the richest musicians in Nigeria, is famous for his luxurious lifestyle. The artist owns several cars from makers like Rolls Royce, Ferrari, and Porsche. He recently spent $1.5 million on a mansion in Banana Island. Davido’s collection of customized jewelry is worth millions.

Wealthiest Musicians In Nigeria, Final Thoughts

This list of the richest musicians in Nigeria isn’t exhaustive. Many other singers have become millionaires by releasing hits, producing music, or signing endorsement deals.

However, this list should give you an accurate idea of the celebrities shaping the Nigerian music industry and representing this country internationally.