I am going to tell you in a sec, but let’s talk about the razzmatazz about the Nigerian music industry. 

For a long time, African has been neglected from the global music scene, but with Burna Boy winning the Grammy the narrative has changed.

The Nigerian music industry is growing fastest and has produced so many young musicians who are billionaires. 

If you are of those who enjoy Nigerian music, I am sure you possibly want to know Who is the richest musician in Nigeria in 2021?

Nigerian musicians are talented, hardworking, and have distinguished themselves in all they do to achieve great success in the business.

No wonder Forbes magazine keeps profiling their net worth yearly. But just the best of the best get on top of this ranking.

The criteria for judging these musicians are not only base on their musical exploit, but these top richest musicians also have other investments.

In this blog post, we will start from the 10th Richest/Wealthiest Musicians and we will continue down to number one.

Here are the names of the top ten richest musicians in Nigeria and their net worth.

The Top Ten Richest Musician in Nigeria 2021 (Full Net Worth)

10. Olamide (net worth – N3 billion)

Olamide real names –  Olamide Adedeji, also called Olamide Baddo and BaddoSneh. He was born on March 15th, 1989, in Bariga, Lagos State.

He is one of the top ten richest musicians in Nigeria with most of his music genre on hip-hop and afro songs. He is recognized for singing mainly in his indigenous language, Yoruba.

His music career started in 2010 when he released his very first single titled "Eni Duro”.

He became more popular in 2012, his music career grew and added more influence. That same year he released another album titled "YBNL" from his very own record label called "YBNL Nation".

Also, the album included a few of his hit singles, which made Olamide more famous in no time.

Today, he has over 7 studio albums under his belt and a collection of recordings and collaborations with other top 10 richest musicians in Nigeria.

He got a couple of nominations and won a lot of them including “The most prominent Nigerian artist”, NEA, and also “African award ceremonies”.

Olamide is one of the first Nigerian musicians who had an endorsement deal with the Ciroc brand in 2013. As a result, the deal got him multi-million naira and raise him to the list of richest Nigerian musical artists.

His net worth by Forbes is estimated to have total assets worth N3 billion.

Besides, Olamide charged between N5 million to N7 million for stage performance or event appearance.

The top ten richest artists in Nigeria own three houses, one in Lekki and the other two in Bariga. These houses are believed to worth around N38 million, N25 million, and N20 million respectively.

Olamide also owns exotic cars like Mercedes-Benz G Class, Array Vagabond Sports, Variety Vagabond V8, as well as Toyota Camry.

9. Phyno (net worth - N3.5 billion)

Phyno fyno is an Igbo rapper, singer, songwriter, and record producer. His birth name is Chibuzor Nelson Azubuike. 

He is a talented artist whose net worth stands at N3.5 billion, according to Forbes. He is in the top ten richest musician in Nigeria 2021 list and is currently doing well.

Phyno began as an indigenous rapper who started rapping in 2010, using Igbo dialect to rap. Also, in 2010 he entered Lagos and joined Olamide to further his career. 

Just like Olamide, Phyno has taken music to the next level. He has featured so many other artists such as Timaya, Flavour, M.I, etc in his songs. 

At present, he is also a brand ambassador of Nairabet, GLO which runs into millions of Naira. Phyno possesses a house in Lagos and drives the Bentley GT Coupe.

Phyno has produced hit songs for most of the top 10 richest musicians in Nigeria, the likes of Flavour, Timaya, Mr. Raw, and numerous others.

Phyno is one of the wealthiest musicians in Nigeria, he was born in 1986 and has made the list of the top ten richest musicians in Nigeria for many years.

8. Timaya (net worth – N4 billion)

Timaya is originally called Enitimi Alfred Odom, he is from Port Harcourt, Rivers State. He was born on August 15, 1980.

He began his singing and songwriting career in 2005 and established the music group called “Dem Mama Soldiers”.

After the launch of his third music Album entitled “De Rebirth”, Timaya became a global sensation and climbed into our list of top ten richest musicians in Nigeria.

Today, Timaya has 6 studio albums under his belt and a lot of collaborations with other top richest musicians.

He is the acclaimed Dancehall King of Nigeria. Timaya owns a mansion in Lekki, Lagos, Nigeria. He owns fleets of cars, amounting to millions of Naira. 

Timaya estimated worth is N4 billion, according to Forbes magazine.

7. Psquare (net worth – N5.5 Billion each)

Peter Okoye(Mr. P) and Paul Okoye(RudeBoy) made up the Psquare group.

The music industry will not be complete without mentioning the Psquare, both were featured on Forbes's top 10 richest musicians in Nigeria in 2020 with an estimated net worth of N5.5 billion.

They started singing in Jos when they were into break dancing and singing. Then, their popularity grew and their fame spread throughout Africa and into the international stage.

The fame brought wealth and they bought a multi-million mansion at Lekki, cars, signed multiple endorsement deals, and won series of musical awards including MTV awards, MOBO Awards, KORA Awards, the Headies, etc.

In 2020, they separated and went solo which slightly declined their ranking on this richest musicians list. With the likes of Wizkid, Tuface, and Davido overtaking them on the list.

According to a Google search, Psquare has released 7 albums to date. They performed for nothing less than N15 million per show as Psquare.

6. D’Banj (net worth – N5.8 billion)

D’Banj is well a recognized Nigerian Music artist and a global super musical star. His rhythmic music and unforgettable songs have endeared him to a global audience.

D’banj's real name is Oladapo Daniel Oyebanjo and he was born in Zaria, Kaduna State, Nigeria on June 9, 1980.

D’Banj has won lots of African, American well as global music awards.

In 2016, he was in the 2nd position in T.I.N. Magazine as one of the top ten richest Musicians in Nigerian. However, he has dropped to the 4th position on the list as new musicians are taking the leads.

Despite this, D’Banj remains prominent as he is still adored by lots of music lovers in Nigeria and other parts of the world.

According to Forbes, D’Banj's net worth and assets are estimated at N5.8 billion.

5. 2Baba (net worth – N6 billion)

2baba is a Nigerian singer and songwriter. He made our list as one of the top ten richest musicians in Nigeria taking the 5th position. His net worth is estimated by Forbes to be around N6 billion.

His music career started when he was in secondary school and at the university level. He later dropped out of his university education to concentrate on his music career.

2baba is named Innocent Idibia, he was born on September 18, 1975, in Jos, Plateau State, Nigeria. His popular hit tracks, ‘African Queen’ sold millions of copies worldwide and topped the music charts worldwide. 

He has won various awards in Nigeria and on the international scene. From the MTV Award, Channel O Music Video Award, BET Award, MOBO Award, and others.

As of today, 2baba has raked up enough fame and wealth that he is regarded as a veteran in the entertainment industry. Tubaba is got married to Annie Idibia in 2012.

Currently, 2baba innocent Idibia net worth is estimated at N6 Billion aside from his endorsement deals with Glo, an Italian liqueur brand, Campari and Partner Mobile. He owns a record label named Hypertech media.

4. Burna Boy (net worth – 6.8 billion)

Burna Boy is a performer who delighted in much accomplishment in the Nigerian music industry. His real moniker is Damini Ebunoluwa Ogulu. 

He is a Nigerian vocalist and musician. He got famous in 2012 after dropping "Like to Party", the lead single from his first studio album L.I.F.E (2013). 

Burna Boy signed to Bad Habit/Atlantic Records and Warner Music Group international in 2017. It was his third studio album in 2018 that marked his major-name debut. 

Burna Boy is also an honor-winning Nigerian music artist. 

In 2021, he won Best International Act at the 2021 BET Awards and the prestigious Grammy Awards.

Burna Boy – being among the top richest musician in Nigeria is not a mistake. His melodies are mainstream with record deals not only within the country as well as globally. 

No big surprise he is included in Forbes's top richest musicians in Nigeria for 2021.

By and by, Burna Boy has numerous endorsement deals. Particular STAR beer – worth millions of Naira. He has other investments plus expensive cars in his possession. 

Burna Boy's net worth is estimated at N6.8 Billion.

3. Don Jazzy (net worth – N7.5 billion)

Don Jazzy is the top richest music producer in Nigeria and Africa.  Don jazzy real name Collins Ajereh is a record producer, singer, songwriter, and entrepreneur.

His net worth is estimated at N7.5 billion. He founded Mavin Records and defunct Mo' Hits, a top music record label in 2012.

Korede Bello, Dija, Tiwa Savage, Dr. Sid, and many others are signed to his label. Mavin Records is said to be worth $100 million and has a solid global outreach.

Don Jazzy has other investment portfolios aside from his musical career which fetches him cash. He is a co-founder of Flobyt, a tech company providing free Wi-Fi services for downloading and streaming media content. 

He is the brand ambassador of many products and has endorsement deals with Samsung Mobile, MTN, Loya milk, Johnnie Walker, etc.

2.Wizkid (net worth – N8 billion)

Ayodeji Ibrahim Balogun, aka Wizkid, was born in Surulere, Lagos State, Nigeria. He was born on July 16th, 1990.

He started his music career as a singer in the church with a stage name “Lil Prinz” before changing to “Wizkid”.

In 2009, he signed a record deal with Banky W's label called Empire Mates Entertainment (E.M.E). His first single "Holla at Your Boy" at E.M.E studios was a hit as his first studio album titled Superstar was released in 2011. 

The success of this album incited Starboy to work harder to earn his riches. In 2013, he founded his record label “Starboy entertainment”.

He continues to pursue his music career until he releases the world acclaim song titled “One Dance” featuring Drake. He signed a multi-million partnership deal with SONY entertainment.

Wizkid can boast of many endorsement deals which include being a Pepsi ambassador with a $350,000 monthly earnings. There was Glo (a telecommunication giant) and MTN who also made him one of their top ambassadors. 

All the deals made Starboy much richer, making him one of Forbes richest musician in Nigeria 2021. Some of Wizkid’s exotic cars including the Porsche Panamera, Mercedez Benz, and also BMW X6.

1. Davido (net worth – N9 billion)

Davido sits in the number one position as the 2021 richest musician in nigeria. 

Davido's real name is David Adeleke and he goes by the stage OBO meaning Omo baba Olowo. He is one of the richest musicians in Nigeria with a net worth estimated at $9 billion. 

Very much like Wizkid, he is another successful youthful talent who has achieved tremendous accomplishment in the Nigerian music industry.

Davido comes from one of the most affluent families in the country. He has delivered a few hit tunes which have topped the musical charts throughout the years yet prevailing. 

Some of his most recent hit tracks include Fall, Aje, FIA, See Gobe, Assurance. 

Davido began his music career at Oakwood University, Alabama in the United States toward acquiring a degree in Business Administration. 

But, dropped out from the same institution when he was unable to make it through with grades. He later migrated to London to focus on his Music however not with the backing of his dad.

Davido brings in the vast majority of his cash from his own DMW record label and endorsement deals.

A large portion of his endorsement deals is with MTN, GLO, Guinness Nigeria. Even so, his new endorsement deal is with Infinix Nigeria – an Android (cell phone) manufacturing company.

Davido possesses a house in Lekki, Lagos, Nigeria which is assessed to worth about N140 million. 

Indeed, there is talk that Davido possesses a house in Atlanta.

Davido possesses several exotic cars, which include Mercedes Benz, Range Rover, Porche Carrera, Bentley, and Bentayga. 

He purchased another Rolls Royce worth about N360 million in 2020