The Richest Musicians In Nigeria (Not According To Forbes)
Nigeria’s music industry has experienced an unprecedented boom in recent years, producing some of the wealthiest artists on the African continent. With a global audience, Nigerian musicians have leveraged their talent, influence, and strategic business acumen to amass substantial wealth. As of 2025, several artists have emerged as the richest, thanks to their extensive music catalogs, brand endorsements, international tours, and diverse business ventures.
While Forbes is yet to release its official list of the richest Nigerian musicians in 2025, multiple reputable sources provide valuable insights into the financial standings of these artists. This blog post will highlight the top earners in the Nigerian music industry, exploring their estimated net worth, sources of income, and luxury assets.
1. Burna Boy – The African Giant
Damini Ebunoluwa Ogulu, popularly known as Burna Boy, has cemented his place as one of the most successful African musicians. His unique blend of Afro-fusion, reggae, and dancehall has propelled him to international fame, earning him Grammy awards, multiple endorsement deals, and sold-out concerts worldwide.
Sources of Income:
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Music sales and streaming revenue
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International tours and concerts
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Endorsement deals with brands like Nike and Pepsi
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Real estate investments and fashion collaborations
Estimated Net Worth: $120 million
Burna Boy owns luxurious properties in Lagos, London, and the United States. His car collection includes a Rolls Royce Dawn, Ferrari 458 Italia, and a Mercedes-Maybach S650.
2. Wizkid – The Starboy
Ayodeji Ibrahim Balogun, widely known as Wizkid, is an iconic figure in the global music scene. With several chart-topping hits and collaborations with international artists such as Drake, Beyoncé, and Justin Bieber, Wizkid has built an impressive financial empire.
Sources of Income:
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Digital music sales and royalties
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Sold-out stadium concerts
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High-profile brand endorsements
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Business investments in luxury fashion and real estate
Estimated Net Worth: $100 million
Wizkid's assets include multi-million-dollar mansions in Lagos and Los Angeles, as well as a fleet of exotic cars, including a Lamborghini Urus, Mercedes-Benz G63 AMG, and a Porsche Panamera.
3. Davido – Omo Baba Olowo
David Adedeji Adeleke, better known as Davido, is another Nigerian artist who has achieved massive financial success. Known for his infectious melodies and hit songs, Davido has carved out a lucrative career in both music and business.
Sources of Income:
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Digital streaming and music sales
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International performances and tours
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Endorsement deals with Pepsi, Puma, and Martell Cognac
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Ownership of HKN Music record label and other business investments
Estimated Net Worth: $95 million
Davido boasts a luxurious lifestyle, owning high-end properties in Lagos, Atlanta, and Banana Island. His impressive car collection features a Rolls Royce Cullinan, Bentley Bentayga, and Lamborghini Aventador.
4. Tiwa Savage – The Queen of Afrobeats
Tiwatope Savage, popularly known as Tiwa Savage, is not just the richest female musician in Nigeria but also one of the most influential. She has consistently pushed boundaries, blending Afrobeats, R&B, and pop into a unique sound that resonates worldwide.
Sources of Income:
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Music sales and live performances
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Lucrative endorsement deals with MAC, Pepsi, and MTN
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Investment in fashion, beauty, and tech startups
Estimated Net Worth: $85 million
Tiwa Savage owns properties in Lagos and London and has partnered with luxury fashion brands, including Dolce & Gabbana. Her growing empire includes a personal fashion line, Savage, which has gained international recognition.
5. Olamide – The Street King
Olamide Adedeji, simply known as Olamide, has built a legacy in the Nigerian music industry. As the founder of YBNL Nation, he has nurtured numerous talents and played a significant role in shaping Nigeria’s hip-hop and Afrobeats scene.
Sources of Income:
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Music streaming and album sales
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Record label (YBNL Nation)
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Endorsement deals with Guinness, Glo, and Itel Mobile
Estimated Net Worth: $70 million
Olamide owns several properties across Lagos and enjoys a collection of luxury cars, including a Bentley Continental GT, Mercedes-Benz G-Class, and Range Rover Sport.
6. Flavour – The Highlife Maestro
Chinedu Okoli, professionally known as Flavour N’abania, remains one of the top-grossing musicians in Nigeria. His ability to fuse highlife with contemporary Afrobeat has given him a dedicated fan base both locally and internationally.
Sources of Income:
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Music sales and royalties
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International tours and performances
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Business ventures and brand endorsements
Estimated Net Worth: $60 million
Flavour’s endorsement deals with MTN, Life Lager Beer, and Bullet Energy Drink contribute significantly to his wealth. He also owns luxury mansions and a fleet of high-end cars.
7. Don Jazzy – The Producer Extraordinaire
Michael Collins Ajereh, popularly known as Don Jazzy, has established himself as one of Africa’s most influential music producers. As the CEO of Mavin Records, he has played a crucial role in shaping the careers of numerous artists.
Sources of Income:
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Mavin Records
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Endorsements with companies like Loya Milk and V Bank
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Investments in tech startups and real estate
Estimated Net Worth: $55 million
Don Jazzy owns a collection of luxury cars, including a Bentley Continental Flying Spur, Lexus LX570, and Cadillac Escalade. His investment portfolio spans real estate and emerging industries.
8. Timaya – The Plantain Boy
Inetimi Timaya Odon, better known as Timaya, has maintained a solid presence in the Nigerian music industry with his distinctive dancehall and Afrobeat sound.
Sources of Income:
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Digital music sales
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Concerts and brand endorsements
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Investments in real estate
Estimated Net Worth: $30 million
Timaya owns a 250-million-naira mansion in Lekki and drives luxury cars, including a Porsche 911 Carrera and Mercedes-Benz G55 AMG.
Conclusion
The Nigerian music industry continues to be a goldmine for talented and business-savvy artists. From Burna Boy’s global dominance to Tiwa Savage’s groundbreaking achievements, these musicians have demonstrated that financial success in the entertainment industry is achievable through strategic branding, diversification, and international appeal.
As we move forward in 2025, these artists are expected to expand their wealth through new ventures, global partnerships, and innovative music releases. The continued rise of Afrobeats ensures that Nigerian musicians will remain key players in the global music industry, further solidifying their financial status and influence on the world stage.
