Entertainment News

2020 richest musicians in Nigeria – See top 10

Top 5 Nigerian collaboration songs of 2020

2020 richest musicians in Nigeria – See top 10 and their net worth. Music has really projected numerous young and dedicated Nigerian music talents from grass to the life of luxury.

It is therefore only proper that we bring to you the list of top 10 richest musicians in Nigeria.

Here they are:

10. Banky W: Net worth of $9 million ~ ₦3.51 Billion

Banky W whose original name is Olubankole Wellington is a top African musician and also a great actor. He was born in the United States but returned with his parents as a child to their homeland, Nigeria where he had his basic school.

Banks W decided to move back to America; to have his higher education and would later return in 2002 when he began his music career in earnest.


In building a career out of music, the then-budding music star started up his own music Label along with his long time friend Tunde Demuren which they called the Empire Mates Entertainment (E.M.E).

That Label was super instrumental in bringing up the world-famous Star Boy Wiz Kid.

Banky has had a really successful career which has seen him release five studio albums and has featured and been featured in numerous music projects of other big stars across the country.

Banky has also tried out acting and has starred in the popular ‘Wedding Party’ movie, a movie set he reportedly met his beautiful wife.

Banky W is now going political and has even contested for a position in the nation’s House of Representatives last year even though that effort was unsuccessful.

Olubankole Wellington is married to Adesua Utomi, the pretty Nollywood actress and they own a mansion along Admiralty way in Lekki phase 1, Lagos.

He has bagged a lot of awards in the R&B music category since 2006. Banky has not only conquered the music industry but has done that with a number of awards to back his claim as one of the greatest musical acts to come out of the country.

  • Banky W. cars

Although being one of the richest musicians in Nigeria, Banky W. does not show off so much about his personal belongings.

He was once spotted driving his 2008 Range Rover Sport (₦90 million) and a Toyota Prado (₦37 million) another time. People expected he would drive fancier cars like many other celebrities but he felt “what good is owning a Rolls-Royce, if I’m still paying rent on the house I park it in?”

9. Phyno: Net worth of $10 million ~ ₦3.86 Billion

The music star, Chibuzo Nelson Azubuike aka Phyno was born on the 9th of October 1986.

He reportedly coined his stage name Phyno from the word “Phenomenal”, which highlights his own taste and brand of music.

Phyno is a man with different talents that extends even to the academic world. The level of his education with a degree in Public Admin is enough to get you thinking that he should not have become a musician; but here he is, a very successful musician. Undoubtedly, deciding to do music was a good move by Phyno as this has thrown him to the spotlight.

Phyno began his musical career in 2003 and has remained a very successful producer as well, crafting exciting music beats for top musicians like Flavour, Mr. Raw, and Timaya to mention just a few. The boss of Penthauze has so many albums to his name and collaborations with top music stars in Nigeria.

Chibuzo hails from Anambra State being from a family of five, he is the fourth child with an only brother and all elder sisters.

He was raised at Enugu State where he completed his schooling and started his music career. He is a very close friend of Olamide Baddo, as they both carry the pride of their local identities being the Igbo and Yoruba languages respectively.

Phyno has got about five proper awards like the best collabo, song of the year awards, and others amidst many nominations in different musical categories.

  • Phyno’s cars and houses

Being one of the richest musicians in Nigeria, Phyno owns many extravagant assets such as the 3 bedroom duplex worth about N170 million at Chevy View Estate, Chevron Drive in Lekki, and another mansion at Enugu State. He also owns expensive cars including a Rolls Royce Phantom:

  • Rolls-Royce Phantom (~₦204m)
  • Lamborghini Gallardo Spyder (₦74.6 million – ₦117.9 million)
  • Polaris Slingshot (~₦7.3 million)
  • Bentley GT Coupe (~₦72.7 million)
  • Range Rover Sports (₦84 million – ₦90 million)
  • Toyota Avalon (~₦11 million)

9. Burna Boy: Net worth of $10 million ~ ₦3.86 Billion

Well, Burna Boy whose real name on the books is Damini Ebunoluwa Ogulu is original an indigene of Mbiama in Ahoda West LGA of Rivers State.

Burna was born in his home state of Rivers, Port Harcourt precisely before his parents made the 9-hour long relocation trip from Port Harcourt to Lagos. 

His parents’ relocation to Lagos was possibly the best move for Burna’s music career, as the biggest names and best resources are domiciled in Lagos. So it made it super easy for Burna to sign his first deal with Aristokrat Records with whom he released his first studio album titled the L.I.F.E.

Burna Boy would go on to release three more Albums and mixtapes after leaving Aristokrat Records for Spaceship Entertainment, a Record Label is personally founded in 2015.

His music career has been a super success with the young man making global waves and is currently Nigeria’s hottest international music export. He only recently lost the 62nd Grammy Award to Angélique Kidjo in January but still clung some really big personal awards in the year just ended. He surely one of the richest musicians in Nigeria in 2020.

  • Burna Boy cars and houses

Early this year, Burna Boy threw the internet into a frenzy by sharing a video of his massive multimillion naira Lekki mansion. The mansion is a sprawling 8 bedroom edifice with a massive swimming pool to match its class.

When it comes to cars, the music superstar has a very crazy taste and makes sure he keeps to the celebrity tradition of showing off expensive and extravagant personal effects.

Only last December, the Odogwu crooner took possession of two very expensive and hot autos. He first showed off this Red hot Rolls Royce Dawn Convertible with a manufacturer stated retail price of about ₦200 million. And as if that was just child’s play, a few weeks later Burna went ahead to show off this crazy fast Latte grey Ferrari 458 Italia. The supercar is reportedly worth a whooping ₦84 million asking price.

  • Rolls Royce Dawn (₦200 million)
  • Ferrari 458 Italia (₦84 million)
  • Bentley Continental (₦164 Million)
  • Mercedes Benz G-Wagon (₦28 million)

Burna Boy owns a ₦125 million Rolls Royce Dawn

Burna Boys collection of cars

8. Timaya: Net worth of $10.5 million ~ ₦4.09 Billion

His official name is Initime Alfred Odom who started a music group called ‘Dem Mama Soldiers’ which is what he used as a platform to set off on his musical career.

The King of Dancehall in Nigeria began his music career from the lower ranks and even was a backup singer for some musicians before going solo with the help of K Solo.

Timaya is an SUV player

His music career saw the release of his first song professionally in 2005, titled “True Story” after which subsequent ones surfaced like “Gift and Grace” released in 2008 as well as De Rebirth.

He now owns the DM record label which he signed King Perry to after the likes of Patoranking and Runtown had been groomed to shine.

This music star has 3 children from two women.

Timaya’s talents speak through his awards and worth, as he has won a list of Reggae/ Dancehall awards.

  • Timaya’s cars and houses

Timaya has a mansion worth ₦250 million at Lekki, Lagos State. If you are an active follower of Nigerian artists on Instagram, you will have been surely informed of his 3 Mercedes G-Wagon cars in different colors which once went viral on the social medium platform.

Beside the Benzs, Timaya’s car collection is enviable with other expensive rides, see below:

  • Porsche 911 Carrera (~₦42 million)
  • 2 Range Rover Sports (₦84 million – ₦90 million)
  • Mercedes-Benz G55 AMG (₦60 million – ₦85 million)
  • Mercedes-Benz GLE (₦20 million – ₦22 million)
  • Bentley Continental GT (~₦76 million)
  • Lexus LX570 2015 (₦29,000,000 – ₦39,000,000)
  • Used Lexus GX 460 (₦25 million – ₦42 million)

Not only a proud owner of exotic vehicles but Timaya has generous hands as well. The musician once presented his label signee with a Ford Dodge Charger 2013 as an early Chrismas gift.

7. Olamide: Net worth of $12 million ~ ₦4.67 Billion

He maintained his first name on stage but has gotten the nickname is Baddo as a badge for his street energy down on his songs’ lyrics.

The way he infuses the Yoruba language into his music helped him build a huge fan base and followership across western Nigeria especially Lagos.

The Ijebu native started out with Coded Tunes label, but currently puts a lot of effort to raise a few other artists through his YBNL record label. Baddo gathers more of his money through entertainment events and shows where he charges in millions of Naira and his brand ambassador deals with companies like Guinness, GLO, Ciroc, etc.

This music star has two kids by his girlfriend, Aisha Suleiman; and he has a house in Lekki phase 1, Lagos. He has bagged so many awards in the Nigerian music industry as Best Indigenous Artist, Album of the year, and many others; as well as many nominations.

  • Olamide’s cars and houses

Being the 7th richest musician in Nigeria, Olamide owns 2 mansions in Lekki and Bariga, Lagos and a flashy garage with pricey cars including:

  • Mercedes-Benz G Wagon (~₦23 million)
  • Range Rover Sports V8 (₦84 million – ₦90 million)
  • Used Rolls-Royce Phantom (~₦204 million)

6. 2Baba: Net worth of $18 million ~ ₦7.01 Billion

This Jos born music star, real name Innocent Ujah Idibia and born on the 18th of September, has made his way into our top ten richest musicians in Nigeria.

The way Tu Baba rose from nothing to something and then become one of the best Afropop singers in Africa has been nothing short of amazing and has been a motivation for so many young people across the continent.

His music career has continued to flourish since he went solo from the Plantashun Boiz group he started with.

Tu face was a top signing for Kennis Music early in his career with whom he released the first album that brought him to limelight in 2004 with the famous ‘African Queen’ song.

He has won himself awards like the Headies, MTV Music Awards, and BET Awards.

In his younger days, TuBaba was more of a casanova and ended up with 5 kids from 3 different women before he got married to Annie Idibia whom he has 2 girls with.

  • 2Face’s cars and houses

Tuface owns 2 mansions in Lagos, as well as relaxation lounges at Lagos Island, Festac, and Ikeja. He is not very open about his rides, but here are the cars that were caught ridden by 2Face:

  • Chevrolet Corvette Coupe (~₦45million)
  • Ferrari Coupe (₦57 million – ₦80 million)
  • Used Toyota Land Cruiser Prado (₦30 million – ₦52 million)

5. Davido: Net worth of $20 million ~ ₦7.79 Billion

Here comes the first on our list of the top 5 richest musicians in Nigeria (Actually, He dropped from the first place last year). Davido, real name David Adeleke, born in Atlanta to a rich and wealthy Nigerian family.

His father, Dr Deji Adeleke is a co-founder of the Adeleke University in Osun state and the CEO of Pacific Holdings Limited.

The song “Omo baba Olowo” brought him to stardom, as it went viral especially in Africa. He made some deals with companies such as AXE, Infinix, and a lot of others.

His music career started with the KB International group with his first album “Omo Baba Olowo”. He has featured so many artists both Nigerian and foreign stars, and these moves have brought him to the top class position in the industry.

Davido co-owns the HKN music record with his brother, and they have artists like Peruzzi and some others signed to the label. Davido has bagged multiple awards in his music career from the Headies, MTV music, and a lot more others.

Davido was born on the 21st of November, 1992 and is the youngest artist in the list of richest Nigerian musicians.

Davido is currently engaged, but he has a strong Chioma the mother of his son whom he gifted a ₦45 million Porsche as a birthday gift.

Before dating Chioma, he had had two daughters with different ladies.

  • Davido’s cars and houses

Just like how he is advancing in the music industry, you can say Davido’s house and the car is second-to-none among Nigerian musicians. He has two mansions in Lekki, Lagos, and a getaway mansion in Georgia, USA. Davido’s car collection is dazzling with:

  • Rolls Royce Cullinan 2019 (~₦350 million) (rumoured)
  • Bentley Bentayga (₦108 million)
  • Bentley Continental GT (~₦95 million)
  • Porsche Panamera Turbo S (~₦22.8 million)
  • Range Rover Sports (₦84 million – ₦90 million)
  • Range Rover SV Autobiography (₦98 million)
  • Chevrolet Camaro GS (₦9.4 million)
  • Audi R8 (₦23.4 million)
  • Audi Q7 (₦12 million)
  • Mercedes-AMG GLS63 (~₦45 million)
  • Mercedes G-Wagon (~₦21 million)
  • Toyota Land Cruiser (~₦30 million)

4. Tiwa Savage: Net worth of $21 Million ~ ₦8.18 Billion

Tiwatope Savage was born on the 5th of February 1980 in Isale Eko, Lagos state.

The music superstar is a graduate of Accounting from the University of Kent and is also a graduate of Berklee College of Music where she obtained a degree in music.

Tiwa began her music career much more as a musical backup vocalist which she did until 2011 when she decided on starting off as a full-blown brand by releasing her first single Kele Kele Love the same year. Tiwa Savage will later link up with Mavin records owned by famous music producer Don Jazzy in 2012.

Tiwa’s life has not been devoid of controversies especially involving her marriage. The music star married her long time manager and friend TeeBillz Balogun in 2013 but the marriage began experiencing some unfortunate private turbulence that later became public knowledge sometime in 2016.

Only recently TeeBillz shared a post that suggested that their marriage was officially over, that he was single but not searching. Their marriage was blessed with a boy that Tiwa said melt her heart.

  • Tiwa Savage Cars and houses

Sometime in 2018, Tiwa Savage reportedly purchase a ₦75 million mansion in the highbrow Richmond Gate Estate in Lekki. This was actually the singer’s first house and its a beauty worth the price tag. On the car’s front, the singer owns a few very luxurious pieces with the most recent being customized Mercedes Benz V250 worth a whooping ₦60 million.

It is worthy of note that the 2019 Mercedes Benz V250 has a starting price of about 32 million way lower than Tiwa’s Customized piece which costs almost double.

The singer is known to have purchased a Red Volkswagen EOS Convertible in 2011 and also has a 2013 model Toyota Prado SUV which was a wedding gift from Don Jazzy at her white wedding ceremony in Dubai.

  • Mercedes Benz V250 (₦60 million)
  • Red Volkswagen EOS Convertible (₦3.8 million)
  • Toyota Prado SUV (₦17.42 million)

2019 Mercedes Benz V250 has a starting price of about 32 million

Tiwa’s customized Mercedes Benz V-Class is reportedly worth about N60 million

3. Wizkid: Net worth of $30 Million ~ ₦11.69 Billion

Wizkid is such a unique and talented musician who started right from a very young age. One surprising aspect of this young musician is the way he went global, collaborating with some of the biggest names in international music.

His real name is Ayodeji Ibrahim Balogun. Born on the 16th of July, 1990 in Surulere, Lagos, the 30-year-old star is the first Nigerian musician to rise up to be recognized in the Guinness Book of World Record for the most played song on Spotify.

This is as a result of the song he did with Drake titled “One Dance”.

He began his big career with E.M.E records and released the ‘Superstar’ album that contained a hit track “Hola at Your Boy”. The song gave him the award for ‘next rated artist’ at the Headies, and he continued rising from there.

He now owns the Starboy Entertainment and has not stopped giving good music to his fans.

The Starboy boss is not married, but he has a child with Sola Ogudugu, and he has been in series of controversies with a few other artists like his former boss – Banky W, Davido, Olamide, and a few others.

  • Wizkid’s Cars and houses

Wizkid has a ₦13 million mansion in Surulere, Lagos, and another one in Los Angeles. Wizkid net worth Forbes estimated value stands at about ₦11.69 Billion. The music superstar, who also has for himself private jets, maintains a car collection that is full of really expensive models.

  • Lamborghini Urus (₦80 million)
  • Porsche Panamera (~₦50.8 million)
  • Used Mercedes Benz G63 AMG (₦55 million – ₦65 million)
  • BMW X6 crossover (₦8.7 million)

2. Don JazzyNet worth of $95 Million ~ ₦37 Billion

Don Jazzy’s full name is Collins Michael Ajereh, and he hails from Umuahia in Abia State and was born on the 26th of November, 1982.

Don Jazzy is the owner of a whole slew of exotic cars

He started his big music career working with D’banj to make various hit tracks as Mo’hits record before they went their separate ways in 2012. After which he created the new record label Mavin Records.

Don Jazzy has effectively groomed and established several superstars like Wande Coal, D’Prince, Tiwa Savage, Reekado Banks and many more. Don Jazzy includes his deep voice in the music often, this touch adds a spectacular note even as he produces the beats for hit songs.

His career has brought him awards as a top music producer. Don Jazzy is not married despite his age, he focuses on making more good music and raising more stars in the Nigeria music world.

  • Don Jazzy’s cars and houses

Don Jazzy has 3 mansions, one at Lekki, one in Banana Island, Lagos, and another at Los Angeles, USA. He also rides exotic cars including:

  • Porsche 911 Carrera (~₦42 million)
  • Bentley Continental (~₦25 million)
  • Cadillac Escalade (~₦27.2 million)
  • Used Mercedes Benz E350 (~₦20 million)

1. P-Square is the richest musician in Nigeria with a net worth of $150 million ~ ₦58.24 Billion

Peter and Paul Okoye, the twin music artists who became stars from standing together to form the P-Square identity.

They were born in November 1981; and had successfully built their music career.

They effectively set up a band, but they are currently separated while the majority of fans still accept them as one bond. P.Square 9th on the list of the top ten richest Nigerian musicians.

Mr P or Peter Okoye and his brother made a great legacy in the Nigerian music industry

Peter or Mr P as he is popularly known had made ambassadorship deals with companies like Kia Motors as well as Olympic Milk. He is married to Titilola Omotayo, and they have a daughter and a son.

Most of the musical achievements which he made were done while he was still with his twin brother Paul Okoye. They had won so many awards to be nominated as Artists of the Decade. The big question still on so many lips is,  what is P Square net worth separated or not? Well, let’s have a look at their cars!!!

  • Peter Okoye’s cars and houses

Mr P has a mansion in Lagos, Nigeria, and another one in Atlanta, USA. He is also a real car collector. He owns exquisite cars that are not inferior to any celebrity, including:

  • 2 Range Rovers (₦50 million – ₦82 million)
  • BMW X6 (₦23.5 million – ₦28 million)
  • Dodge Challenger (₦10.8 million – ₦22 million)
  • Porsche 718 Cayman (~ ₦22 million)
  • Mercedes AMG GL63 (~₦45 million)
  • Bentley Mulsanne (~₦125 million)
  • Jeep Wrangler (~ ₦12.6 million)

Paul Okoye, currently known as Rude Boy is married to his beautiful lover, Anita Isama who he had been with for a long time before getting married. They have 3 kids, the first son and a set of twins – 1 boy and 1 girl. He has released some songs since the PSquare separated.

  • Paul Okoye’s cars and houses

This star artist has houses in Nigeria and outside the country, and none of the houses is less than mansions. P Square group was known to own a private jet; but since their break apart, no news has been heard about the jet but one thing for sure is that Paul has joined the list of Nigerian celebrities who drive Rolls-Royces.

Paul’s garage has fewer cars than his brother’s but costs way more with 2 Rolls-Royces:

  • Rolls-Royce Phantom (~₦204 million)
  • Rolls Royce Ghost (₦191 million – ₦247 million)
  • Land Rover Range Rover (₦50 million – ₦82 million)
  • Lamborghini Gallardo (₦74.6 million – ₦117.9 million)

Leaving P-Square, Paul now has his new stage name – Rudeboy

Top 10 richest musicians in Nigeria 2020

From the table below, you can find out who the richest musicians in Nigeria Forbes and other reliable sources rated are:

   List of the top 10 richest musicians in Nigeria by net worth (Updated 2020)
S/N Name and Stage nameNet worth in USDNet Worth in Naira
1Peter and Paul Okoye (PSquare)$150 million₦58.24 Billion
2Collins Michael Ajereh (Don Jazzy)$95 Million₦37 Billion
3Ayodeji Ibrahim Balogun (Wizkid)$30 Million₦11.69 Billion
4Tiwa Savage$21 Million₦8.18 Billion
5David Adeleke (Davido)$20 million₦7.79 Billion
6Innocent Ujah Idibia (2 Face)$18 million₦7.01 Billion
7Olamide Adedeji (Olamide Baddo)$12 million₦4.67 Billion
8Enetimi Alfred Odom (Timaya)$10.5 million₦4.09 Billion
9Chibuzo Nelson Azubuike (Phyno)$10 million₦3.86 Billion
9Damini Ebunoluwa Ogulu (Burna Boy)$10 million₦3.86 Billion
10Olubankole Wellington (Banky W)$9 million₦3.51 Billion
Click to comment
To Top