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Highest Paid Music Artists In Nigeria 2024: Net Worth And Top Earners
The Nigerian music industry has evolved into one of the most lucrative entertainment sectors in Africa, with artists achieving both local and international success. As of 2024, the wealthiest Nigerian musicians have amassed fortunes from performances, endorsements, tours, and diverse business ventures. Here’s a detailed look at the highest-paid artists in Nigeria this year, highlighting their earnings, ventures, and influence on the global music scene.
1. Davido
Net Worth: $45 Million
Davido, born David Adedeji Adeleke, tops the list as Nigeria's highest-paid artist in 2024. Known for his energetic performances and international hits, Davido charges a minimum of ₦50 million for shows within Nigeria, while his international booking fees go as high as $400,000. This includes luxury provisions like private jet flights. Davido’s influence in the music world extends beyond Africa, contributing to his impressive earnings through sold-out concerts and profitable endorsement deals with brands like Puma and Martell.
He also leverages his massive social media following to earn millions from platforms like Instagram, where he is the most followed Nigerian celebrity.
2. Wizkid
Net Worth: $35 Million
Ayodeji Balogun, popularly known as Wizkid, is another top earner in 2024. With his Afrobeat sound gaining global recognition, Wizkid earns up to $500,000 per show internationally. He boasts lucrative deals with brands like Nike and UBA, and his album sales and streaming royalties contribute significantly to his wealth. Wizkid's "Made in Lagos" tour and his collaborations with international stars like Drake have further solidified his position as one of Africa's most successful artists.
3. Burna Boy
Net Worth: $25 Million
Damini Ogulu, widely known as Burna Boy, ranks high among the wealthiest Nigerian musicians, with a net worth of around $25 million in 2024. Burna Boy's Afro-fusion sound has captured audiences globally, leading to international tours, album sales, and high-paying endorsement deals. As a Grammy Award winner, Burna Boy commands large fees for his concerts, with international appearances adding substantially to his earnings. His ability to bridge traditional African music with global pop culture has elevated his career to new heights.
4. Don Jazzy
Net Worth: $18 Million
While primarily a producer, Don Jazzy, born Michael Collins Ajereh, is a key figure in Nigeria’s music industry. His record label, Mavin Records, has nurtured major talents like Rema and Ayra Starr, contributing to his estimated net worth of $18 million. Beyond music, Don Jazzy has ventured into tech and real estate, making him one of the wealthiest figures in entertainment. His business acumen, coupled with his influence in the music scene, makes him a top earner in 2024.
5. Olamide
Net Worth: $12 Million
Olamide Adedeji, or simply Olamide, is a dominant force in Nigerian hip-hop. With a net worth of approximately $12 million, Olamide’s wealth comes from his extensive music catalog, endorsement deals, and his YBNL Nation label. Olamide’s knack for discovering and nurturing talent has further boosted his income, as artists under his wing, like Fireboy DML, continue to thrive.
6. Tiwa Savage
Net Worth: $8 Million
Tiwa Savage, often referred to as the "Queen of Afrobeat," is the highest-paid female musician in Nigeria in 2024, with a net worth of $8 million. Her income stems from international tours, music sales, and endorsements with major brands like Pepsi and MTN. Tiwa’s ability to maintain her relevance in both the Nigerian and international music scenes ensures she remains one of the top earners.
7. Phyno
Net Worth: $11 Million
Chibuzor Nelson Azubuike, better known as Phyno, is one of the top rap artists in Nigeria. Phyno’s unique style of blending Igbo and English in his rap music has earned him a massive following and numerous endorsement deals. With a net worth of $11 million, Phyno continues to release hit songs and manage his label, Penthauze Music.
8. P-Square
Net Worth: $15 Million
The iconic duo of Peter and Paul Okoye, known collectively as P-Square, reunited after their brief separation and have continued to rake in millions from tours and hit singles. Each member of the group has a net worth of $15 million, with their wealth largely coming from their music, endorsement deals, and business ventures in real estate.
9. D’banj
Net Worth: $10 Million
Oladapo Daniel Oyebanjo, or D’banj, remains a veteran in the Nigerian music industry with a net worth of $10 million. D’banj has diversified his income streams over the years, venturing into agriculture and technology alongside his music career. His Koko Holdings company has contributed to his substantial wealth.
10. 2Baba
Net Worth: $12 Million
Innocent Ujah Idibia, popularly known as 2Baba or 2Face, rounds out the list with a net worth of $12 million. A music legend, 2Baba’s career spans over two decades, and his earnings come from royalties, endorsements, and investments in real estate. 2Baba’s continued influence on the Nigerian music scene and his legacy as one of the pioneers of modern Afrobeat ensure his place among the wealthiest artists.
Conclusion
In 2024, Nigerian music artists continue to dominate both local and international scenes, with figures like Davido, Wizkid, and Burna Boy leading the charge. These artists not only generate income through performances and album sales but also secure lucrative endorsement deals and business ventures. Their global recognition has expanded their influence, making them some of the highest-paid artists in Africa. The Nigerian music industry’s financial success reflects the talent, innovation, and business acumen of its top stars, solidifying Nigeria's position as a global hub for Afrobeat and contemporary African music.
