Top 7 Richest Music Artist in Nigeria 2024

   Music has been one of humanity’s greatest pleasures. With various genres and types, music can be found in every corner of the world and Africa is not left out. Graduating from simple pounding of drums to control of more sophisticated instruments and vocalizations, music has come a long way from its initial basic form. 

Introduction

   The Nigerian music industry can be said to be one of the leaders of music in the world as so many Nigerian music artists have travelled across the globe to host concerts leading them to garner popularity on a global level. Of course, along with popularity comes riches, and today, among the numerous music artists in Nigeria, we’ll be looking at the seven richest of them. 

Don Jazzy ($52 million)

   Michael Collins Ajereh, stage name Don Jazzy has been in the music industry for 21 years now since he started his career in 2002. Since his debut, Don Jazzy has amassed an impressive musical career, winning over four highly recognized musical awards including Nigerian Music Awards in 2006, Nigerian Entertainment Awards in 2007, The Headies in 2011, another Headies in 2014, City People Entertainment Award in 2015 and many more. With a net worth of $52 million, the Nigerian Artist has a lot of expensive items under his name including three houses in Lagos worth 610 million naira together.

Amongst these three houses, the most notable is his house in Lekki Phase 1 a magnificent golden brown building. Don Jazzy has a love for cars and this shows in the exotic cars he has collected in his career. He owns a customized Range Rover worth above ₦10 million, a Porsche with a price of more than £70,000, a Cadillac worth $70,000, and a Bentley worth ₦100 million.

This shows that Don Jazzy enjoys a life of luxury and he’s not hesitant to spend his money on what he likes. 

PSquare ($37.26 million)

   Nigeria’s second most successful artists Peter Okoye and Paul Okoye, twins who entered the music industry together. They collaborated to form their stage name PSquare when they started their career in 1997. They took a break in 2017 and resumed their career once again in 2021. They’ve led a successful career and won a large number of rewards rivalling even Don Jazzy’s.

Among the numerous awards the duo has won include 9 Headies, 7 Nigerian Music Awards (NMA), 5 Channel O Music Video Awards, 5 MTV Africa Music Awards, 6 Ghana Music Awards, 5 KORA Awards, and 5 Soundcity MVA. These are the awards the duo have won numerous times. They’ve also won several single awards and have been nominated countless times for other awards. With a net worth of $37.26 million, the duo is bound to have a lot of property under their name.

Paul Okoye has a billion naira mansion in Lagos along with a Porsche, a Range Rover, a Mercedes Benz G-wagon, and a Dodge while his brother Peter Okoye has a home in Ikoyi, Lagos along with a Bentley, a 4matic Coupe, and two Lamborghinis. 

Davido ($27.6 million)

   Nigeria’s third richest musician David Adedeji Adeleke stage name Davido was born into a life of wealth to Nigeria’s renowned politician Chief Adeleke. Born in the United States, he dropped out of Oakland University where he studied business administration so that he could pursue his dream of making it big in the music industry. His dream can be said to be achieved as he’s one of Nigeria’s most popular artists worldwide.

His performance at the 2022 World Cup led to a massive increase in his popularity. Due to his popularity, Nigerian singer Davido has been invited for a large number of endorsement deals including PlayStation, Guinness, Martell Cognac and so many more. Among his properties include a house in Lagos worth more than ₦100 million, a $20 million house in Atlanta, a Rolls Royce, two Bentleys, a Range Rover, and a Land Cruiser. These cars are worth more than ₦ 200 million in total. 

Wizkid ($26 million)

   Wizkid is the stage name of Nigerian music artist Ayodeji Ibrahim Balogun who started his music career in the year 2001. He has also had a successful run acquiring numerous awards including the Grammy Award, BET award, Soul Train Award, Billboard award, and many more. His properties include two mansions, one in Surulere Nigeria, and the other in Los Angeles, California, a BMW, a Porsche, a Lamborghini, and a Mercedes-Benz. 

Burna Boy ($16 million)

   Damini Ebunoluwa Ogulustage stage name Burna Boy is a relatively new Nigerian artist who despite his short time in the music industry has made a resounding name for himself. Starting his music career in 2010, Burna Boy won the 2019 BET award and many other awards in the following years. His properties include a Range Rover, a Ferrari, a Lamborghini, a Rolls Royce, and a large house in Lekki, Lagos. 

2Baba ($10.2 million)

   2Baba is a Nigerian artist who has been in the music industry since 1994. He has won awards in the MTV Europe Music Award, World Music Award, Headies Award, Channel O Music Video Award, BET Award, MTV Africa Music Awards, MOBO Award, KORA Award, Afrima Awards, and nominations in others. He has houses in Nigeria and the United States along with a Ferrari, a Land Cruiser, and a Chevrolet Corvette Coupe. 

Olamide ($10 million)

   Olamide is one of Nigeria’s leading music artists having homes in various locations in Lagos, and a large number of automobiles including a Range Rover Sports, G-wagon, Rolls Royce Phantom, and a Venza. Olamide Gbenga Adedeji, sometimes called Badoo, started his music career in 2010. 

Conclusion

   There is a lot of money in the music industry however, not all artists who go into this business make it. Some of them eventually fall into the despair of not being as successful as they thought they would be eventually giving up and living understanding lives. However, it seems like the leaders of the music industry would keep increasing in wealth and popularity. Do you know more facts about the richest music artists in Nigeria? Let us know in the comment section.