Who Are The Top Richest Musicians / Artists In Nigeria 2022? (Forbes List)

WaysHowTo 9 months ago
Updated 2022/07/06 at 1:41 PM
13 Min Read
Forbes Richest Musicians In Nigeria
Forbes Richest Musicians In Nigeria

If you are wondering who are the top 10 richest musicians in Nigeria in 2022, then look no further as we will discuss according to Forbes Magazine these amazing and richest Nigerian artists in 2022.

You’ll find more information about their music career, awards, cars, houses, businesses, and more. However, let’s bring this up early, your favorite singer may not make it to this list. Are we cool? Lol.

No doubt, Nigeria has a limitless reserve of musical talents as we’ve witnessed their brilliant songs and viral content, through consistency. The success in their careers has also brought a great deal of financial incentive for them through their music, charges per show, endorsements, and personal investments.

Rank Artist Age Net Worth Source of Wealth
1. Wizkid 31 $21 million Music, Investment & Endorsement
2. Davido 29 $19 million Music, Investment, Record Label & Endorsement
3. Don Jazzy 39 $18 million Music, Investment, Record Label & Endorsement
4. Burna Boy 30 $17 million Music, Investment & Endorsement
5. 2Baba 46 $16 million Music, Investment & Endorsement
6. P-Square 40 $16 million Music, Investment & Endorsement
7. Olamide 33 $12 million Music, Investment, Record Label & Endorsement
8. D’Banj 42 $12 million Music, Investment & Endorsement
9. Phyno 35 $10.5 million Music, Investment & Endorsement
10. Timaya 41 $8.5 million Music, Investment & Endorsement


Read more detailed information below


1. Wizkid


Wizkid is the richest musician in Nigeria. His net worth, as estimated by Forbes, is $21 million, making him the richest musician in Nigeria in 2022.

In July 2019, the talented singer added more to his net worth after confirming a mega-deal signing for United Bank for Africa (UBA) as their brand ambassador.

His songs still top Billboard’s top 100 Hot music. His musical career can be traced back to 2009 in Empire Mates Entertainment E.M.E records owned by “Banky W” where he recorded his debut album “Superstar” in 2011, which had the Hit track “Holla at Your Boy” which apparently shot him to the limelight.

Wizkid won the award for Best Music Video at the 63rd Annual Grammy Awards in 2021 as a lead artist on Beyoncé’s “Brown Skin Girl.”

2. Davido


The second musician on the list of Forbes top 10 richest musicians in Nigeria in 2022 is Davido. David Adeleke popularly known as Davido is the second richest musician and artist in Nigeria in 2022. Davido’s net worth is estimated at $19 million.

More so, his net worth is largely from music and endorsement projects such as the $78,296 MTN endorsement deal, Guinness Nigeria, and Infinix mobile.

Davido also performs in local and international shows, where he earns as much as N10 million per performance (in Nigeria) and $30,000 for international performances.

OBO’s net worth and wealth are also affected positively by his YouTube channel, which has attracted over 663 million views since it was created. In addition, his Instagram account is not left out. In fact, Davido’s per post on Instagram has an estimated value of $91,100.

He ranks number 29 in the world ranking of Instagram Richest Celebrities.

3. Don Jazzy

Don Jazzy
Don Jazzy

In the music scene, Collins Michael Ajereh, known as Don Jazzy, is the third on Forbes top 10 richest musicians in Nigeria in 2022. Don Jazzy is an indigene of Umuahia in Abia State. His birth date is the 26th of November, 1982.

Don Jazzy’s net worth is estimated to be over $18 million. Don Jazzy is not only a musician, but he is also a music producer and an entrepreneur. This rich music star is the CEO of the Mavins Records Label.

Don Jazzy is known to have an eye for talents. Last year January 21, 2020, he announced the signing of a female artiste, Ayra Starr, into his music fold.

Don Jazzy’s musical career started with his collaborations with D’banj, where the duo made different hit tracks such as Mo’hits. This was before they parted ways about a decade ago. It was after the separation that Don Jazzy created the Mavins Records Label.

Aside from his music career, he also has profitable contracts with companies like MTN and Loya Milk. Also, among Don Jazzy”s most prominent and recent deals is his endorsement deal with V-Bank.

V Bank, Nigeria’s leading digital bank, announced the extension of its deal with Don Jazzy in December 2020. The bank executives had presented him with a V Bank branded hoodie to symbolize the renewed one-year contract.

4. Burna Boy

Burna Boy
Burna Boy

Burna Boy is the third on Forbes top 10 richest musicians in Nigeria in 2022. His net worth is $17 million.

Relocating to Lagos was the best move for Burna Boy as it further helped his career. He started gaining recognition in the music industry in 2012 when he released his hit single ‘Like to Party’ from his debut album L.I.F.E.

Burna Boy sold Up to 40,000 copies of L.I.F.E. on the first day of its release. Also, Burna Boy sold L.I.F.E marketing rights to Uba Pacific for 10 million Naira.

However, he left Aristokrat records in 2014, and in 2015 he established his record label named Spaceship Entertainment. He debuted his second album ‘On a Spaceship’ on the 25th of November 2015.

Burna Boy’s music career has been filled with success stories as he has been making waves both nationally and internationally.

In 2020, Burna Boy released his most recent music album, Twice as Tall, making waves nationally and internationally. The album earned him a 2021 Grammy Award nomination for the Best Global Music Album.

Currently, he is a brand ambassador to Globacom, Nigerian Breweries Plc, and Mortell Cognac.

5. 2Baba


2Baba is one of the most influential Nigerian artists. His real name is Innocent Ujah Idibia. Formerly, he was part of a musical group called “Plantashun Boiz” before he signed to the Kennis Music Record Label. His Net Worth is at $16 million a.nd also the fifth person on the Forbes top 5 richest musicians in Nigeria in 2022

Indeed, the African Queen brought him to the limelight in the year 2004. Since the debut of that song, Tuface has remained top of his game as he has made major hits back to back.

He has won different awards like the MTV Music Awards, Headies and BET Awards. Even though 2face likes living a private life, it’s not hard to tell that he possesses luxurious cars and houses.

He owns two houses in Lagos, one apartment in the US, and relaxation lounges in Ikeja, FESTAC, and Lagos Island.

6. P-Square

P Square
P Square

It’s nearly hard to discuss Mr. P without mentioning the now-defunct P-square. The identical Okoye twins’ stage moniker is “P-square.” They’re both brothers who prefer to do things together, such as write and play music.

The single “Senorita” was P-first square’s hit, and it was followed by several additional hits that gave them opportunities all over the world.

When it comes to successful music business veterans, the combo “Peter & Paul Okoye” cannot be overlooked. According to Forbes, they are among the top 10 richest musicians in Nigeria in 2022, with a net worth of $16 million. They were both born in Jos on November 18, 1981. Nigeria’s wealthiest musician

7. Olamide


Olamide Adedeji is a Yoruba from Lagos, Nigeria. The musician adds a touch of his mother tongue to his compositions. Given that his music may not sell in various areas, you would wonder if he makes it in the industry.

This artist, on the other hand, is having a major breakthrough. With a net worth of $12 million, a record label (YBNL), accolades for Best Indigenous Artiste, and more, he is one of the richest people in the world.

Olamide Badoo is a Nigerian rapper and the founder of the YBNL Nation record label.

8. D’Banj 


The vocalist began his musical career by playing the harmonica of his late elder brother. His younger brother died in a plane crash when he was 17 years old. His net worth is estimated at $10 million.

D’banj constantly played the harmonica as an homage to him and to keep his memory alive in his mind. Despite this, he abandoned his aim of becoming a mechanical engineer in the middle of his studies at Lagos State University due to a persistent strike.

He moved to the United Kingdom in 2001 to complete his education but had to leave after meeting Don Jazzy, an aspiring songwriter at the time. However, he is one of the most prominent and the richest singers in Nigeria?

9. Phyno


Chibuzor Nelson Azubuike, better known by his stage name Phyno, is a Nigerian rapper and record producer with a net worth of $10 million. On October 9, 1986, Chibuzo Nelson Azubuike, better known by his stage name “Phyno,” was born. Phyno is from the Nigerian state of Anambra.

He is the fourth of five children born to his parents. Phyno grew up in Enugu and acquired his elementary, secondary, and tertiary education there before opting to pursue music as a career.

He aspired to be a doctor or a pilot, like many other average Nigerian youth, but fate had other ideas.

10. Timaya


Timaya was born in the Nigerian city of Port Harcourt on August 15, 1977. He is a performer, songwriter, and vocalist. Timaya’s net worth in 2022 is expected to be $10 million, up from $10 million in 2021.

In real life, Timaya is known as Inetimi Timaya Odon. DM Records Limited was founded by him. In 2005, he debuted as a solo artist with the single “Dem Mama,” which was also included on his debut album.

Timaya released Upgrade in 2012, which included the singles “Bum Bum,” “Sexy Ladies,” and “Malonogede.” He has received numerous honors and nominations for his work, including four Headies Awards, two AFRIMMA Awards, one Nigeria Music Award, and an NEA Award.

He is the last on the list of Forbes’ top 10 richest musicians in Nigeria in 2022.

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