If you have been wondering who are the richest musicians in Nigeria? for the year 2020 or you’ve been searching for a list of richest Nigerian musicians and their net worth, then you have gotten to your destination. Get a seat, read and enjoy.
In this article, you will find the top 10 richest musicians in Nigeria in 2020 according to
Forbes list. Of course, you know no one does it better than Forbes. So, let’s get started –
from bottom to top list of the Richest Musicians in Nigeria 2020 .
10. Flavour – Net Worth $9.5 million [Forbes]
Born Chinedu Okoli, Flavour is a Nigerian musician from the eastern part of the country.
He started his musical career singing in the church. At the time, he was only a drummer for
He has gone on to release several other hits after that including Ada Ada, Oyi, Ololufe,
Baby Na Yoka, Golibe, Obianuju, Chimamanda and so many others.
One of his songs, Ada Ada, was nominated for the Best Music Video award at the 2014 MTV
9. Paul and Peter Okoye (former P-Square) – Net Worth $10 million each [Forbes]
How do you compile a list of richest musicians in Nigeria without mentioning this duo? With
each of them having the net worth of $10 million, the brothers take the 9th spot on this list.
Born twin brothers on the 18th of November 1981 in Jos, Paul and Peter had one of the
most successful musical career in the history of Nigerian music.
They performed on some of the biggest stages in the world bringing home all the awards
they found all the way.
However, things went sour between the twin brothers and they decided to part ways in 2017.
They both now have solo careers and many Nigerians have joked about how each of them
is now an upcoming artiste.
But did this stop the money from coming? Judging by their current net worth, apparently
money did not stop coming.
Paul is now known with the stage name Rudeboy while his brother Peter is Mr P. They have
both managed a couple of hits in their solo career and brands have not stopped knocking
on their doors for endorsement deals.
You may want to argue that they would worth a lot more than this if they were still
together. Well, maybe. But a net worth of $10 million each can only mean one thing – these guys are still balling.
8. Timaya – Net Worth $10.5 million [Forbes]
We know him as Timaya, Egberi Papa One of Bayelsa and Papi Chulo, but his real name is
Enitimi Alfred Odom. He was born in Port Harcourt on the 15th of August 1980.
His reign in the music industry started as far back as back 2005 with his massive single
There has been no slowing down for the Port Harcourt-born Bayelsa boy ever since.
Hits upon hits, awards after awards, you can say without mincing words that Timaya has
paid his dues.
Today, Timaya has a total of six albums and several singles. And what about features? At a
time, Timaya was arguably the most featured Nigerian musician.
He occupies the 8th position on the list of the richest musicians in Nigeria with a net worth of $10.5 million.
7. Phyno – Net Worth $11 million [Forbes]
You most likely first heard the name Phyno in 2012 with his smash hit Ghost Mode in which
he featured Olamide. Well, that was the beginning of a musical career success that has now
earned the Enugu-born rapper $11 million dollars.
Also, it was the beginning of his friendship with Olamide – a friendship that has produced
hits after hits, including an album titled 2 Kings.
His real name is Chibuzor Nelson Azubuike and he is one of the best rappers Nigeria has
ever seen, especially in the indigenous language. He started his musical career as a music
producer but today… you know the rest.
With a net worth of $11 million, Phyno is the 7th Richest Musician in Nigeria.
6. Olamide – Net Worth $12 million [Forbes]
Baddo Sneh, Olamide Adedeji has one of those inspiring rags to riches stories.
Born in Bariga, Lagos on the 15th of March 1989, who would have thought he would one
day become the huge success that he is today? We are talking about Bariga here, the same Bariga.
He rose to prominence in 2010 with his rap single Eni Duro, meaning Y’all won’t wait.
And true to his words, no one waited for Baddo; no one could challenge his reign on the
throne of indigenous rap and even the entire rap genre (arguably).
Olamide has seven studio albums and was one of the few artists who started the trends of
annual musical concerts in the country. Today, almost every other artist does it. You’ve got to respect this guy.
Let’s not talk about awards, you won’t leave here today.
With his net worth at $12 million, Olamide is the 6th richest Nigerian musician in 2020.
5. 2Baba (2Face Idibia) – Net Worth $16 million [Forbes]
Innocent Ujah Idibia, known widely as 2Face or 2 Baba is one of the most decorated and successful Nigerian musicians. He started his career as a member of a 3-man group called Plantashun boiz along with Faze and Black Face (who is now his sworn enemy).
Born in Jos on the 18th of September 1975, 2 Baba gave Nigerians hits such as African Queen, True Love, If Love is a Crime, Implication, Ifene Ibaga to just name a few. He even recently dropped another album which was widely accepted – 16 years after African Queen. That’s some legendary stuff.
With money coming in from music, real estate investments and endorsement deals here and there, 2 face with a net worth of 12 million takes the 5th spot in the list of the top ten richest Nigerian musicians.
4. Burna Boy – Net Worth $17 million [Forbes]
Oluwaburna is definitely the rave of the moment and deservedly so. Born Damini Ogulu, Burna Boy has been dropping hits since 2012 with the songs like Like to Party.
His big hit however came in 2018 with international smash hit Ye which got the whole world to pay more attention to African sounds.
He has gone on to perform on big stages, including the controversial one with Coachella. Plenty international collaborations award in the bag too.
Though often criticized for constantly sampling Fela’s sounds, Burna Boy has continued to keep haters stunned with hits after hits.
His current net worth of $17 million places him in the 4th spot on this list. His music, local and international endorsement deals and investments are the source of his income.
3. Don Jazzy – Net Worth $18.5 million [Forbes]
Can you count how many times you’ve heard It’s Don Jazzy Again!? As many times as you’ve heard that is the number of times Don Jazzy has blessed our playlists as a nation.
Apart from being an iconic music producer, Don Jazzy is an entertainment business mogul and currently the CEO of Mavins which has artistes such as Rema, DNA, Johnny Drille, Korede Bello, Dr Sid, D’Prince and until recently, Tiwa Savage.
Of course, you can’t talk about Don Jazzy without a mention of D’Banj. The two first took the industry by storm in the early 2000’s with D’Banj as the artiste and Don Jazzy as the producer (and the backup artiste sometimes).
They eventually parted ways (amicably?) and the two have maintained relevance even after the separation.
He sings too and we’ve seen him do that many times in songs with his Mavins family such as Ada Ada, Looku Looku and the big one, DoroBucci.
Of course, his real name is not Don Jazzy. He was born Michael Collins Ajereh on the 26th of November in Abia state, Nigeria. His net worth of $18 million means he is the 2020 3rd richest musician in Nigeria.
2. Davido – Net Worth $19 million [Forbes]
Omo Baba Olowo, Baba Ifeanyi, the CEO of Davido Music Worldwide (DMW), Nigerian music history would not be told without the mention of Davido.
Born David Adeleke on the 21st of November 1992 to the renowned Adeleke family, Davido has some of the scariest numbers in terms of views and listenership on digital platforms. And talk of back-to-back hits, talk of Davido.
Often compared to Wizkid and criticized some times for not writing his own songs, Davido has only one way of responding to critics – more hits.
He first broke into limelight with his single Omo Baba Olowo which eventually became his nickname (OBO). There has been no slowing down or decline since then. International collaborations and awards have not stopped coming either.
With his net worth standing at $19 million, Davido is the second on the list of richest musicians in Nigeria in 2020.
1. Wizkid – The Richest Musician in Nigeria with the Net Worth $20 million [Forbes]
Give it up for Wizlion, Machala, Baba Nla and Wizman if you like. Born Ayodeji Ibrahim Balogun, Wizkid is up there as one of the artistes who took African sounds to the outside world.
He got his first major break into limelight with his Holla at Your Boy single in 2011. The rest, they say, is history.
He was born in Surulere, Lagos on the 16th of July 1990. He started singing at the age of 11 and released an album with his Glorious Five Group members (a group he formed with his friends).
Today he has collaborations with Beyonce, Drake, Ty Dolla Sign, Tinie Tempa, Akon, Chris Brown and way too many others. There are rumors his forthcoming album, Made in Lagos would feature Sia.
Ladies and Gentlemen, Wizkid is the Richest Musician in Nigeria for the year 2020 with a net worth of $20 million according to Forbes List.
His source of income? Music, investments, local and international endorsement deals which includes a one Billion naira deal with United Bank for Africa.