The Top 10 Richest Musicians In Nigeria +Their Net Worth [Updated 2020]

Top 10 Richest Musicians In Nigeria 2019

Ever wondering who made the Richest musicians in Nigeria list? Or are you a lover of Nigerian music, and you want to keep a tab of the top 10 richest musicians in Nigeria 2020? Then this post is for you.

Richest Musicians In Nigeria

These Nigerian musicians make their money through various means. Some of these means include endorsement deals, album/music sales, music shows, and lots more.

If you scroll down a little bit, I will show you the richest musicians in Nigeria and their net worth according to FORBES

Starting from number 10 on the richest musicians in  Nigeria in 2020,

10) Olamide (Badoo) – Net worth $8.9 million

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  • Networth (Forbes)-  $8.9 million 
  • Record Label – YBNL Nation

Olamide Adedeji, who is known as (Olamide or Badoo) is a Nigerian born rapper and singer who is an indigenous singer/rapper – Yoruba.

After his successful hit in 2010 by Eniduro, Olamide rose to fame in becoming one of the richest musicians in Nigeria 2020.

9) Banky W – $9.7 Million

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  • Networth (Forbes) – $9.7 Million
  • Record Label – Empire Mates Entertainment (EME)

Mr. Olubankole Wellington, known for his stage name Banky W, is a Nigerian based singer, rapper, actor, and also a politician, film producer, event host, public speaker, amongst others.

Before he ventured into politics, Banky W was and still is a singer, ambassador for various top brands like 9Mobile(formerly Etisalat), Samsung, Uber, and more.

Read Also:-Top 10 Richest Musicians In The World  (Forbes)

8) Timaya (dem mama soldier) – $13 Million

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  • Networth (Forbes) – $13 Million
  • Record Label – Dem Mama(DM) Records

Nigerian legendary music star which his real name is Enitimi Alfred Odom who’s stage name is Timaya.

Timaya, aka dem mama soldier/Egberi papa, has an estimated net worth of over $13 Million and 4.6 Billion when converted to Naira due to his high-profit endorsement deals signed with top brands operating in Nigeria. Some of these brands include Nigerian Teleco, Glo, and Cognac brand – Hennessy Nigeria PLC, e.t.c.

7) 2Face Idibia (2Baba) – $16.2 Million

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  • Networth (Forbes) – $16.2 Million
  • Record Label – Hypertek Digital

Innocent Ujah Idibia, known for his stage name 2Baba is a highly respected Nigerian singer, songwriter, record producer, and entrepreneur who is based in Lagos State, Nigeria.

2Baba also has a vast amount, and a variety of high notch endorsement deals with various top brands in Nigeria and internationally. Some of these brands include Glo, Campari, Guinness, and many more others.

He also owns some hotels called Rumours Nite Club, which is both in Lagos and Ikeja.

the wealthiest football club in the world

6) Paul Okoye (Rudeboy) – $16.4 Million

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  • Networth (Forbes) – $16.4 Million
  • Record Label – Rudeboy Records

Occupying the 7th spot on our list of the richest musicians in Nigeria 2019 is no other than the once P-Square Paul Okoye, who is known for his stage name Rudeboy.

Rudeboy also has quite several sponsorship deals with various brands in Nigeria and abroad. He also embarks on shows in Nigeria, Europe, and America.

5) Peter Okoye (Mr. P) – $16.5 Million

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  • Networth (Forbes) – $16.5 Million
  • Record Label – P Classic Records

Woah, look at what we have here. Although all the famous P-Square is no longer together, I think the twins are in for a competition.

Peter Okoye, with his stage name Mr. P, is one of the Richest musicians in Nigeria with a fleet of cars, houses, investments.

Topping his Twin Brother with top brands endorsement deals to his name. Peter Okoye is currently signed up with Olympic Milk, Kia Motors, Zoom, and several other top brands on lucrative sponsorship deals.

he is the number 5 on the richest musician in Nigeria 2020

4) DBanj (KOKO MASTER) – $17.9 Million

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  • Networth (Forbes) – $17.9 Million
  • Record Label – DB Record, GOOD Music, Mercury, Sony Music Entertainment

Oladapo Daniel Oyebanjo, who is known for his stage name DBanj or Koko Master, is a Nigerian born musician, singer, songwriter, entrepreneur, and more.

He got the stage name – DBanj from the combination of both his first name, Dapo, and his surname, Oyebanjo.

DBanj is also a brand ambassador of various brands both in Nigeria and internationally.

He is number 4 on the Top 10 Richest Musicians In Nigeria 2020.


3) WizKid (Star Boy) – $22 Million

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  • Networth (Forbes) – $22 Million
  • Record Label – Star Boy Music

Ayodeji Ibrahim Balogun, which was formerly at the top spot of the richest musician in Nigeria 2019 popularly/professionally known by his stage name – Wizkid or Star Boy.

Wizkid is incredibly one of the richest Nigerian musicians. In the year(2018), Wizkid was said to be paid a whopping sum of $681,200(245.9 Million Naira) to perform in India at a Royal wedding at Umaid Bhawan Palace.

The famous Star Boy record label which has some popular Nigerian and foreign musicians signed.

He is number 3 on the Top 10 Richest Musicians In Nigeria 2020.

2) Davido (OBO, 30 billion gang) – $27.6 Million

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  • Networth (Forbes) – $27.6 Million
  • Record Label – Davido Music Worldwide (DMW)

David Adedeji Adeleke, popularly known with his stage name Davido is a native of Osun state, a singer and a songwriter.

He was born in Atlanta, Unites States of America, but raised in Lagos State, Nigeria. Davido was born into a wealthy family(Adeleke). Aside from coming from a wealthy home, he also wants to be productive on his own, and his hard work is paying off.

He is number 2 on the Top 10 Richest Musicians In Nigeria 2020.

1) Don Jazzy – $30 Million

Top 10 Richest Musicians In Nigeria 2019

Which is now the richest musician in Nigeria 2020

  • Networth (Forbes) – $30 Million
  • Record Label – Supreme Mavin Dynasty

number 1 on the Top 10 Richest Musicians In Nigeria, 2020 goes to Michel Collins Ajereh well known with his stage name DonJazzy.

He is a Nigerian music producer, singer, songwriter, and entrepreneur who is based in Nigeria.

DonJazzy created a record label called Mo’ Hits Records in 2004, and he signed great artists Like Dbanj, Wande Cole, and others.

Following the closure of the record mentioned above label, Don Jazzy set up a new record label call Mavin Records on May 8, 2012, with the signing of a top star like Tiwa Savage and more.

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Here Is The List Of The Top 10 Richest Musicians In Nigeria

  1. Don-Jazzy

  2.  Davido (OBO)

  3.  Wizkid (Star boy)

  4.  Dbanji ( Koko Master)

  5.  Peter Okoye (Mr. P)

  6. Paul Okoye (Rudeboy)

  7. 2Face Idibia (2Baba)

  8. Timaya (dem mama soldier)

  9. Banky W

  10. Olamide (Badoo)