Richest Musicians in Nigeria 2016: Top 10

Music has in recent times proved to be a very lucrative means of livelihood in Nigeria. There are countless musicians in the Nigeria music industry, and many more are emerging every day.  In the midst of the crowd, these few stand out in terms of finances. Here is a list of the Top Ten (10) Richest Musicians in Nigeria 2016.

Richest Musicians in Nigeria 2016 top 10

To compile this list of Richest Musicians in Nigeria 2016, a number of metrics have been put together, duration in the music industry, endorsement value, investments, number of songs released, awards, album sales, charge per show, just to mention but a few.

Below is a list of the Top Ten Richest Musicians in Nigeria


P-Square are a Nigerian R&B duo of identical twin brothers Peter Okoye and Paul Okoye. They produce and release their albums through Square Records.


Twin musicians Peter and Paul Okoye popularly known by their stage name P-Square are on top of the list of Richest Musicians in Nigeria 2016. The duo have somehow remained on the top of this list for quite a number of years.

The twin charge up to N8 million per show and and have sold out a lot of international concerts. P-Square has managed to record large sales returns on all of their 6 studio albums and have a large number of fan base.

P-Square has a number of awards and nominations in to their name, a total of 17 awards and 18 nominations. In 2010 they won the KORA Award for Best African Artiste; they have bagged 5 Headies awards and a lot more.

The duo have a multi-million Naira endorsement deal with Globacom and have landed properties in Lagos, Port-Harcourt and Jos and even outside the shores of Nigeria.  P-Square has a fleet of exotic cars and seem like they are on the top of our richest musicians in Nigeria 2016 list.

The duo are said to have a combined net worth of $180 million.

Don Jazzy:

Michael Collins Ajereh, better known as Don Jazzy, is a Nigerian multi award-winning record producer, singer-songwriter, musician, former CEO of Mo’ Hits Records and current CEO of Mavin Records. He is one of the Richest Musicians in Nigeria 2016

Don Jazzy

The BIG MAN has been the engine box behind many songs that rocked our speakers right from his days with D’banj even till present. Many though his split with D’banj would mean the end of his career, but then he started the Mavins Record and skyrocketed them to point of relevance that they top the charts weekly as far as Nigerian music is concerned.

Don Jazzy has endorsement deals with Loya Milk, MTN, Samsung Africa and Johnnie Walker, you can be sure his bank account is even bigger than he is and has landed him on top 10 richest musicians in Nigeria 2016 list.

Don Jazzy has a number of nominations and has won 5 big awards for himself amongst other recognitions even outside of Nigeria.

Don Jazzy has landed properties in the choicest parts of Lagos, exquisite cars has an Oil and Gas Company.

Don Jazzy is the richest Nigerian Music Producer and boasts of a net worth over $35 million.

Tu Face Idibia:

Innocent Ujah Idibia, better known by his stage name 2face Idibia, is a Nigerian singer-songwriter, record producer and entrepreneur and also one of the Richest Musicians in Nigeria 2016.

Tu Face

Tu Baba has six musical albums and many other single tracks. He is indeed a mentor for so many Nigerian artistes. His enthusiasm is one admired by so many and this is evident in the way his concerts are sold off and the number of copies of albums sold.

Tu Face has a host of awards and nominations to his name and is indeed an A-list artiste in the Nigerian music industry. He has endorsement deal with Airtel and Guinness.

With a wife and children, landed properties and cars has a net worth of about $22.5 million, enough to make him one of the top 10 richest musicians in Nigeria 2016.


Oladapo Daniel Oyebanjo is a Nigerian singer-songwriter, harmonica player, and entrepreneur. D’banj was a very important member of Mo’hitz records before he fell out with Don Jazzy.


As an Oliver Twist even after the split, D’banj has been making more money than music. With 3 studio albums and 2 compilation albums, D’banj is sure to entertain you any day any time. D’banj is one of the top ten richest musicians in Nigeria 2016.

He has an endorsement deal with GLO that spills into millions of Naira and a net worth of about $25 million


David Adedeji Adeleke, better known by his stage name Davido, is an American-born Nigerian recording artist, performer and record producer.


Since his hit single ‘Dami Duro’ in 2011, Davido has continued to top the charts and remain relevant in the industry.

Davido has a large fan base and has recorded sold out concerts in Nigeria and even internationally.

Davido has endorsement deals with MTN and Guinness. He has recorded 2 studio albums and has collaborated with a number of A-list artistes.

Regardless of the fact that his father is a multi-billionaire, Davido has continued to put in personal efforts to make himself one of the top 10 richest musicians in Nigeria 2016.

He has bagged 26 awards and 48 nominations, little wonder he has a net worth of $14.5 million


Ayodeji Ibrahim Balogun, better known by his stage name Wizkid, is a Nigerian recording artist, songwriter and performer. He started his musical career at age 11, and today is among the top ten richest musicians in Nigeria 2016.


With 18 awards and 64 nominations to himself, you can tell that Baba Nla is a big baller in the game.

Wizkid ditched MTN and signed an endorsement deal with GLO. He also has endorsement deals with Pepsi and Guinness.

Wizkid has hosted concerts in several countries of the world and each of them recorded a massive turn out. His albums have always generated huge sales and his fan base is really amazing.

Wizkid has his own record label – Starboy Entertainment and has several artistes signed to his label.

The Richkid known as Wizkid has landed properties and exotic cars. His net worth is about $11.5 million.

Banky W:

Olubankole Wellington, known under the stage name Banky W, is a Nigerian R&B artist. He is one of the foundations on which the present day Wizkid was planted.

Banky W

Banky W is the boss of popular music Label Empire Music Entertainment (EME) which houses artistes like Shaydee, Niyola and DJ Excluisve.

Known for the peculiar shape and size of his head and sound of his voice, Banky W is one of the few artistes that steadily smile to the bank.

Banky W has 5 studio albums to his name and a number of singles and has bagged awards and nominations.

The EME boss is a brand ambassador for Samsung Electronics, MTN as well as Ciroc Vodka and is certainly one of the top ten richest musicians in Nigeria 2016.

His net worth is said to be at about $9 million.


Olamide Adedeji, known by his stage name Olamide but popularly called Olamide Baddo, is a Nigerian hip hop recording artist from Bariga, Lagos State. He records mostly in Yoruba, his native tongue.


He is one of the most famous rappers in Nigeria and his music is embrassed most especially by ‘The Street’.

Olamide has recorded 5 studio albums and has 1 compilation album with Phyno. His endorsement deals with Guinness and Etisalat has put him on the list.

He is the owner of music record label YBNL Nation and has won 20 awards among a host of nominations.

Olamide started from the street but now he is one of the top ten richest musicians in Nigeria 2016. He has a net worth of about $7.5 million

Tiwa Savage:

Tiwatope Savage-Balogun, better known by her stage name Tiwa Savage, is a Nigerian singer-songwriter, recording artist, performer and actress. She is currently signed to Sony/ATV Music Publishing and Mavin Records.

Tiwa Savage

The Mavins record queen mother has endorsement deals with MTN, Pampers, Pepsi, Forte Oil and Maggi.

She is currently the richest female musician in Nigeria and one of the most successful.

Tiwa savage has won several music awards  and has recorded 2 studio albums and 1 compilation album. She has been nominated about 41 times and has won 16 awards.

Tiwa Savage has a net worth of about $4.85 million, the number #1 lady on the top 10 richest musicians in Nigeria 2016

Yemi Alade:

Since the release of ‘Johnny’, Yemi Alade has constantly had the spotlight on her. She is the second richest female artiste in Nigeria.


Yemi alade is signed to Effyzzie Music Group and has endorsement deals with Bacardi Breezer, Bland2Glam, and Close Up and has started her own jewelry collection.

Yemi alade has 2 studio albums and has received several nominations and some awards too. She is indeed one of the top ten richest musicians in Nigeria 2016.

Yemi Alade has a net worth of $4.2 million.


Do you have any different opinion? Is there someone you think we missed out of the Richest Musicians in Nigeria 2016? Drop a comment in the box below.

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