Nigeria’s music industry has grown to become one of the most lucrative in Africa and globally. With the increasing global demand for Afrobeats and the international recognition that Nigerian artists are receiving, many of these musicians have transformed their fame into immense wealth. These artists do not only earn from music streams and album sales but also make money from endorsement deals, business ventures, and brand partnerships.
As of 2025, Forbes has compiled a list of the top 10 richest musicians in Nigeria. This blog post breaks down their net worth, income sources, and how they’ve maintained their place at the top of the financial ladder.
1. Davido – $100 Million
David Adedeji Adeleke, better known by his stage name Davido, holds the crown as the richest musician in Nigeria in 2025. Born into a wealthy family, Davido carved out his own path through sheer talent, hard work, and relentless ambition. He burst onto the scene with the hit song “Dami Duro”, and has since released multiple platinum-certified singles and albums.
Apart from music sales and streaming royalties, Davido makes a fortune from concerts, international tours, and endorsements with companies like Puma, Martell Cognac, and Infinix Mobile. He is also the founder of DMW (Davido Music Worldwide), a record label that has helped launch the careers of several other artists, including Mayorkun and Peruzzi.
Davido’s influence goes beyond music; he is also a successful businessman with investments in real estate, fashion, and tech. His philanthropic efforts and active social media presence have made him a beloved figure among fans across the continent.
2. Don Jazzy – $50 Million
Michael Collins Ajereh, famously known as Don Jazzy, is a music producer, songwriter, and entrepreneur who has been a mainstay in the Nigerian music scene for nearly two decades. As the founder of Mavin Records, Don Jazzy has been instrumental in developing the careers of artists such as Tiwa Savage, Reekado Banks, Korede Bello, and Rema.
His wealth comes from music production, brand endorsements, and numerous business investments. Don Jazzy is known for his sharp business sense, investing in tech startups and launching various entrepreneurial ventures. Despite his low-key personality, Don Jazzy remains one of the most respected and financially stable figures in the industry.
3. Burna Boy – $30 Million
Damini Ebunoluwa Ogulu, popularly known as Burna Boy, has had a meteoric rise in the global music industry. Dubbed the "African Giant," Burna Boy has successfully brought Afro-fusion to the world stage. His critically acclaimed albums such as “African Giant” and “Twice As Tall” have won numerous awards, including a Grammy.
Burna Boy’s earnings come from international tours, high-profile collaborations, streaming revenue, and brand endorsements. He has signed deals with brands like Star Lager Beer and Chipper Cash, and his sold-out concerts across Europe, North America, and Africa have significantly increased his net worth.
4. Wizkid – $25 Million
Ayodeji Ibrahim Balogun, known globally as Wizkid, is another giant in the Nigerian music space. He gained early fame with his breakout single “Holla at Your Boy” and has since remained at the top of the charts with global hits like “Essence”, “Ojuelegba”, and “Come Closer” featuring Drake.
Wizkid's international collaborations with Beyoncé, Justin Bieber, and other global stars have elevated his profile and income. His brand endorsements with companies like UBA, Ciroc, and Puma also contribute heavily to his earnings. Wizkid’s influence extends into fashion and real estate, where he has made smart investments.
5. Rema – $15 Million
Divine Ikubor, better known as Rema, is a rising star who has quickly climbed the financial ladder in Nigeria’s music industry. Signed under Mavin Records and Jonzing World, Rema introduced a refreshing sound that blends Afrobeats with trap, pop, and dancehall.
His global hit “Calm Down” and the remix featuring Selena Gomez have garnered billions of streams worldwide, pushing his brand to the international market. With endorsement deals, international tours, and brand collaborations under his belt, Rema has emerged as one of the richest young musicians in Africa.
6. Olamide – $15 Million
Olamide Adedeji, popularly known as Olamide Baddo, is one of Nigeria’s most consistent and influential rappers. Known for his street credibility and connection to grassroots fans, Olamide has built an empire through music, endorsements, and his record label, YBNL Nation.
He has launched the careers of top artists such as Fireboy DML, Lil Kesh, and Asake. His income sources include album sales, endorsement deals with brands like Goldberg and Etisalat, and a strong presence in local and international concerts.
7. P-Square – $13 Million Each
Twin brothers Peter and Paul Okoye, formerly known as P-Square, were once Africa’s most celebrated music duo. After their reunion in recent years, P-Square has reignited their influence in the industry with old hits and new projects.
Each brother has pursued solo careers, with Peter going by the name Mr. P and Paul by Rudeboy, but their collective net worth remains impressive. They earn from old and new music sales, endorsement deals, business ventures, and international tours.
8. Tiwa Savage – $12 Million
Tiwa Savage is Nigeria’s most prominent female artist and a powerhouse in the Afrobeat genre. Her rise to stardom started after her stint in the UK music scene and peaked after joining Mavin Records. She has released multiple hit songs and has signed major endorsement deals with brands like Pepsi, MTN, and MAC Cosmetics.
Tiwa is also a businesswoman and recently launched her own entertainment company. Her collaboration with global artists like Brandy and her Coachella performance further prove her status as a global superstar.
9. Flavour – $10 Million
Chinedu Okoli, known by his stage name Flavour N'abania, is known for blending highlife music with contemporary pop sounds. He has remained a relevant figure in Nigerian music with multiple hits and strong fan support in both Nigeria and across Africa.
Flavour earns from music tours, endorsement deals, and collaborations. His brand is deeply rooted in cultural expression, which makes him a favorite for heritage-based performances and events.
10. Phyno – $9 Million
Phyno, born Chibuzor Nelson Azubuike, is a leading figure in the Igbo rap scene. His consistent delivery of quality music, along with collaborations with the likes of Olamide and Flavour, has kept him at the top of the game.
He earns through music streaming, performances, endorsements, and real estate investments. Phyno’s branding as a culturally rooted yet modern artist has attracted lucrative partnerships and business opportunities.
Final Thoughts
The Nigerian music industry is booming, and these artists are not just making hits—they are building wealth that spans continents. From endorsements and record deals to businesses and investments, the top 10 richest musicians in Nigeria are living proof that music is a serious enterprise.
Their stories are not only inspiring but also a blueprint for aspiring musicians looking to succeed in the ever-evolving music business. As Afrobeats continues to dominate global charts, these musicians are not just representing Nigeria—they are shaping the future of global music.
