Who are the richest Nigerian musicians in 2022?
Some of the very best Nigerian musicians are worth billions in naira and millions in dollars. We have put together a list of the 20 richest Nigerian musicians alongside their estimated net worth and short biography.
Before you start reading, can you guess which of your favourite Nigerian musicians will appear on the list?
The 20 Richest Nigerian Musicians in 2022
Net Worth: $1.2
People often wonder whether gospel artists make as much money as their secular music counterparts, well Sinachi is here to clear those doubts.
Sinachi’s made a name for herself within and outiside Nigeria, with most of her income coming through live concerts. She is revered all over the world as one of Nigeria’s finest contemporary gospel singers.
As of 2022, Sinachi’s netvworth is an estimated $1.2 million.
19. Mr. Eazi
Net Worth: $3 million
Serial entrepreneur, Oluwatosin Ajibade, popularly known as Mr Eazi has not only found success making music, but also in his entrepreneurial career.
Eazi is the founder of Empawa Africa, a talent breeding initiative developed to support upcoming African artists. Born 29 July 1991, Eazi is also a big player in Africa’s food logistics and packaging industry.
As of 2022, Mr Eazi is estimated to be worth $3 million.
Net Worth: $4 million
Augustine Miles Kelechi is from Ebonyi state, a region in Eastern Nigeria. A producer and vocalist, Tekno overachieved with a commercial style many did not think would work.
Now signed to Island Records- a subsidiary of Universal Music Group, it wasn’t until after 8 years of his debut (2012), in 2020 that he released his first list play, a 13-track project entitled “Old Romance.” However, his single records became street anthems, earning him reverence and deep pockets.
As of 2022, Tekno is estimated to be worth $4 million.
17. Duncan Mighty
Net Worth: $4.1 million
Best known for his melodious high pitch vocals and renowned as the self-acclaimed Port Harcourt first son, Duncan Mighty rose to fame with the release of his second studio album “Legacy.”
Although not as active as before, he remains one of Nigeria’s most influential musicians, featuring in numerous hit songs and associating with younger acts such as Wizkid and Davido.
As of 2022, Duncan Mighty is estimated to be worth $4.1 million.
Net Worth: $4.1
Folarin Falana, aka Falz The Bad Guy or simply Falz rose to superstardom in the mid 2010’s. Both as a rapper, singer, and actor, Falz has proved a real polymath, even made more interesting when you discover he studied Law in the university.
He has appeared in several blockbuster Nigerian comedy series and TV shows including Jenifa’s Diary, Merry Men, Chief Daddy, Quam’s Money and many more.
As of 2022, Falz is worth about $4.1 million.
Net Worth: $6 million
Patoranking has become an iconic African dancehall and reggae singer. His fine blend of sounds from across the continent and beyond has seen ascend the ladder of African music, and earned him a place on this list.
As of 2022, Patoranking is worth an estimated $6 million.
14. MI Abaga
Net Worth: 7.5 million
Africa’s most popular short ‘black boy.’ MI pioneered the modern rap and hip hop revolution in Nigeria and changed people’s perception of the genre alongside his the Chocolate City brothers Jesse Jagz and Ice Prince Zamani.
A regular feature in ciphers and talent shows as a judge, MI’s discography is one of the most revered in his time.
He remains the CEO of Chocolate City and is worth an estimated $7.5 million as of 2022.
Net Worth: $8.5 million
Bayelsan born Timaya took the industry by storm when he made his debut in 2006. His first record “Dem Mama” was already a street anthem in parts of southern and eastern Nigeria, and the DM Records founder would go on to solidify his place as Nigeria’s ‘king of commercial’ after his second album ‘Gift and Grace (2008)’ moved thousands of copies in its first week.
As of 2022, Timaya is worth an estimated $8.5 million.
12. Banky Wellington aka Banky W
Net Worth: $9 million
Banky W returned from his academic adventure in the United States to pursue his passion- music. Many warmed to his American style RNB and he remains the instigator of one of modern Nigerian music biggest records “Lagos Party.”
At a time when there was relatively high piracy in the industry and absence of streaming services, Banky sold thousands of records, but will mostly be remembered as the man who gave the world Wizkid.
As of 2022, Banky W is worth over $9 million.
Net Worth: $10 million
Phyno had been underground, producing songs for the likes of Nigga Raw and Wizboy. Although he had been slowly acquiring wealth as a producer and ghost writer, he shot to fame with the release of his smash hit “Multiply.”
A collaborative album with Olamide became the exponent for his unprecedented ascension to the pinnacle of Nigerian music. Although he had been making music mostly for consumers in Eastern Nigeria, 2 Kings earned him acceptance into the Lagos market.
As of 2022, Phyno is worth $10 million.
Net Worth: $10.2million
Nigeria’s hi-life music prince Mr Flavour, Flavour N’abania or simply Flavour is the 10th musician on this list.
Flavour is revered for his soprano voice and live performances. As of 2022, Flavour is worth an estimated $10.2 million.
Net Worth: $10.5 million
Olamide aka Baddo holds the joint record for the most victories (15) at the Headies award- Nigeria’s biggest honour for excellence in music.
A major stalwart and influence as far as music in Nigeria is concerned, no Nigerian musician has released more studio compilations than Olamide since his debut in 2011.
He’s also been at the heart Nigeria’s continued talent production, nurturing acts like Young John, Fireboy DML, Lil Kesh, Asake and a host of others.
As of 2022, Olamide’s net worth is estimated to be $10.5 million
8. Paul Okoye aka Rudeboy
Net Worth: $11 million
Rudeboy is one half of the dynamic duo, P-Square that took Afrobeats international in the draft days of the industry.
As of 2022, Rudeboy’s net worth is estimated to be $11 million.
7. Peter Okoye aka Mr P
Net Worth: $12
Mr P is the other half of P-Square. Alongside brother Paul Okoye, they conquered the whole of Africa, earning millions of dollars in tours.
As of 2022, Mr P is estimated to be worth $12 million.
6. 2Face Idibia aka 2Baba
Net Worth: $13 million
Former Plantashun Boiz star 2Face is one of Africa’s most talented musicians. At a time of relative difficulties in music production and distribution, 2Face found massive success, owed especially to his unique vocals and mindful lyricism.
2Face is credited as the author and performer of “African Queen,” one of the continent’s finest and most classic musical exports.
Although his career has now spanned more than 2 decades, he remains one of Africa’s most influential musicians, performing at the 2010 FIFA World Cup opening ceremony in South Africa.
As of 2022, 2Face’s net worth is estimated to be $13 million.
Net Worth: 13.5
Dbanj and Don Jazzy had been the chiefs behind the hugely successful Mo Hits crew that included D Prince, Dr Sid, Wande Coal, Kayswitch and more.
Dbanj, aka Koko Master became a global sensation when American entertainment mogul Kanye West signed him to his GOOD Music label in 2011, earning him millions in record deals and royalties.
Dbanj’s estimated net worth in 2022 is $13.5 million.
4. Burna Boy
Net Worth: $17 million
Burna Boy’s solo Grammy win in 2021 remains the most standout moment for Nigerian music.
In triumphing at the global showpiece, Burna Boy proved that hard work, belief, and consistency can engineer great success.
Buoyed by his unique style, he’s become one of African music’s most talked about artists around the world, winning 3 consecutive BET awards wince 2019.
As of 2022, Burna Boy’s net worth is estimated to be $17 million.
3. Don Jazzy
Net Worth: $35 million
Don Jazzy is more or less the equivalent of Jay Z in Nigeria, only that he doesn’t rap and hasn’t sold as much records as the former Def Jam boss.
He’s overseen two stellar dynasties of talent incubation; Mo Hits and Mavins. Apart from his gift of spotting and nurturing talents, Don Jazzy is a skilled producer and an accomplished pianist.
As of 2022, Don Jazzy’s net worth is estimated to be 35 million dollars.
Net Worth: $38 million
Wizkid’s name is perhaps an epithet for Nigerian and African music outside the continent. Alongside Olamide, he is the most successful act at the Headies (15).
Wizkid is a Grammy winner. He became the first African musician to crack the top 10 of America’s Billboard Hot 100 chart.
He is also the first Nigerian act to win an MTV Video Music Award and is famed for selling out concert venues.
As of 2022, Wizkid’s net worth is estimated to be $38 million.
Net Worth: $42 million
Many argue that Davido had a head start given he is of course, the son of a business tycoon and renowned billionaire Adedeji Adeleke.
However, not everybody can turn 1 million into 50 and that’s exactly what the DMW boss has done. He is a walking and breathing franchise, with numerous world class brands associating with him including Martel, Puma, and PlayStation to name but a few.
As of 2022, Davido is estimated to worth $42 million to earn him the top spot on our list of the richest Nigerian musicians in 2022.
- Don Jazzy
- Burna Boy
- 2Face Idibia
- Peter Okoye
- Paul Okoye
- Banky W
- MI Abaga
- Duncan Mighty
- Mr Eazi
N:B Artist finances are never on public display, and the values declared in this post are merely estimates from concerted data.