24 Richest Musicians In Nigeria

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.