Nigerian music is now an international music, the afrobeat genre has gained international recognition.
It’s played in different parts of the world making Nigerian Artistes more popular and of course more expensive in terms of booking for shows and concerts.
Music artists in general make most of their money from live shows, concerts and even streaming platforms.
The Nigerian music industry is the nation’s fastest growing sector, and some of the top musicians and artists are cashing out big from from the industry. In Nigeria, there are some top musicians and artists that have been in the game for a long time and now they are household names. These artistes are the highest paid musicians in Nigeria making tens of millions of Naira per show. Additional, almost all of them made it into the list of the richest Nigerian artists
PLEASE NOTE: This list is written in no particular order.
Highest Paid Musicians in Nigeria
1. Don Jazzy
Full name: Michael Collin Ajerah
Stage Name: Don Jazzy
Date of birth: 20th Nov. 1982
Age: 40 years old
Net worth: $52 million
Michael Collin Ajerah, popularly known as Don Jazzy is a singer, songwriter, producer, record executive, entrepreneur and the CEO of Mavin Records.
Don Jazzy was co-owner of Mo’ Hits Record label with D’banj. Both artists had an amazing time together and even gained international recognition at the time it wasn’t easy for Nigerian artists to gain international recognition. Mo’ Hits Record was one of the biggest record label in Nigeria and that success contributed immersely to the now Mavin Records which is now the leading record label in Nigeria.
Don Jazzy is one of the best in the game, he sings and produces and his passion for music over the years has led him to sing and produce some of the best songs in the country. Some of Don Jazzy’s songs has become household, they are sung in homes, streets and even in some religious gatherings.
Under Mo’ Hits Record, Don Jazzy had some amazing talents such as Wande Coal, Dr Sid, Sauce Kid, D’Prince, Ikechukwu and a few others.
Don Jazzy has worked with some of the A-list artists internationally such as Jay-Z, Kanye West, etc. He collaboration with Kanye West led to the production of ‘Lifg Off’. The threw more light on Don Jazzy’s work which earned him more international recognition.
Don Jazzy has also produced and collaborated with some of the top songs in the country that put Nigeria on the world map as far as music is concerned with songs like Eminado with Tiwa Savage, ‘You Bad’ with Dr. Sid and the famous ‘Doro Buchi’ with all the crew members of Marvin Records. He is one of the best artists in the country which is the reason why he charges from N8 – N20 million to appear in a show.
Don Jazzy also generates revenue from endorsement deals with top companies like Betway, MTN, Globacom, etc. As an entrepreneur, he is into forex, cryptocurrency and other personal businesses.
2. Burna Boy
Full Name: Ebunoluwa Damini Ogulu
Stage Name: Burna Boy
Date of birth: July 2, 1991
Age: 31 years old
Networth: $17 million
Burna Boy started his musical career since 2010, over the years, he has released a number of singles and albums known nationally and internationally. Oluwaburma as he likes to call himself has gain international recognition as one of the best artists not only in Nigeria but in the whole of Africa.
As one of the highest paid artists in Nigeria, Burna Boy worth is over $17 million. His wealth is attributed to his consistency in producing hit songs year after year. In 2022, one of his hit songs ‘Last Last’ was number one on Billboard Afrobeat Songs Charts.
Over the years, Burna Boy has released a total of 6 albums, 39 singles, 2 mixtapes and 2 extended plays. Like some of his colleagues, he has makes so much money from sales of his albums, tours and shows, streaming platforms, endorsement deals and also from his record label.
Burna Boy charge between $200,000 to $750,000 per show. Although the exact amount he makes from sales of his songs and albums is not known but there are reports that the Africa Giant made about $12 million from sales of his songs globally. His best selling album ‘Africa Giant’ sold over 60,000 copies.
Burna has had tremendous success on streaming platforms like Spotify where he gets over 18 million listeners per month. This means that he makes about 500,000 million dollars on Spotify every year. His 6th album ‘Love Damini’ just three months after release, hit half a billion streams on Boomplay making him the first artist in Nigeria to achieve this historic milestone.
Where most artists in Nigeria make the most money is from live shows and Burna Boy is one of the Nigerian artists to have done more live shows in recent years. The Grammy Award singer has performed at the Hollywood Bowl, sold-out Madison Square Garden, the O2 Arena, Accor Arena, Wembley Arena, Ziggo Dome Geneva Arena and lots of other international stages.
3. Davido
Full Name: David Adedeji Adeleke
Stage Name: Davido
Date of birth: 21 Nov. 1992
Age: 30 years old
Networth: $28 million
David Adedeji Adeleke, popularly known as Davido is also one of the highest paid artists in Nigeria. He is one of the top Afrobeat artists in the country, Davido is an an icon both in culture and pop music.
In 2014, Davido made about N5.5 million per show or per live performance after the release of his single Aye. He was the co-owner of HKN record label for five years before he started his own record label Davido Music Worldwide (DMW).
In 2021, Time Magazine crown him as one of the biggest voices in Afrobeat and part of their Next Time 100 list. For Davido to appear in your show, it would cost nothing less than N10 – N40 million. He’s considered as one of Africa’s best-selling artist making him one of the highest paid artists in the country and continent at large. His popularity both on national and international level is tremendous.
Davido is the Nigerian artiste with the highest number of followers on Instagram, he garners millions of views from his music videos on YouTube and other streaming platforms. He earns millions of Naira from online streaming platforms. Davido revealed that in 2018, two of his songs ‘If’ and ‘Fall’ made in so much money. According to the renowned singer, the song ‘If’ sold over 2 million copies as a single from his album, and ‘Fall’ sold over 10 million copies worldwide.
Timeless album which is one of his biggest albums with the most online streams, set the record as one of the most streamed songs from an African artist. On the first day of release, over 1 million copies were sold worldwide surpassing the previous record held by Wizkid and Burna Boy.
As the artist with one of the most streamed songs on all platforms, Davido rakes in millions of Naira on a daily basis from all his songs. He featured as one of the artists at the World Cup Closing Ceremony in Qatar 2022.
For live shows outside Nigeria, Davido allegedly charges about $150,000 plus a flight in a private je
4. Wizkid
Full Name: Balogun Ayodeji
Stage Name: Wizkid
Date of birth: 16 July 1990
Age: 32 years old
Networth: $26 million
Wizkid is also one of the highest paid musicians in Nigeria, he charges about $682,000 for exclusive shows as well as $150,000 as a booking fee. He started recording music at the age of 11, where he was singed to EME records. Few years later he started his own record label, Starboy Entertainment.
In 2018, Wizkid performed at a royal wedding at Umaid Bhawan in Jodhpur, India, it is one of the most exclusive private mansions in the world and he was allegedly paid $681,200.
In 2022, Star Boy as he is also called was paid $1 million to headline the world’s largest Hip-Hop Festival, Rolling Loud, in Toronto, Canada, where allegedly made him the highest paid musician in Nigeria.
In 2018, at the Katika Festiva in Kenya, Wizkid was paid a whopping sum of $150,000. In the same year, Wizkid was paid $130,000 to perform at the Confederation of African Football, a 4-minutes 11-seconds performance.
Same year he performed at the God Can Bless Anybody charity concert held on 14th December at the Liberation Stadium, Elekahia, Port Harcourt. For the performance, he got N30 million.
Wizkid has accumulated so much from the music industry, but aside from live shows the renowned singer makes huge some from streaming platforms.
In 2020, his album Made in Lagos recorded above 200 million streams on several digital platforms. One of the most popular songs from the album Essence made the list of Barack Obama’s favourite songs.
That years, Star Boy got over $200,000 from online streaming of his songs on Spotify alone. As the owner of his record label, Wizkid makes lots of money from artists singed under his label as well as other business ventures.
Wizkid has signed big endorsement deals with top companies such as Pepsi, Tecno, Puma, and lots of other
5. PSqaure
Full Name: Paul and Peter Okoye
Stage Name: Mr. P & Rude Boy
Date of birth: 18 Nov. 1981
Age: 41 years old
Networth: $37.26 million
Paul and Peter Okoye of Psqaure are one of the highest-paid artists in Nigeria. They have been in the music industry for decades and have accumulated a networth of about $37.26 million. As one of the richest musician in Nigeria they have sang a lot of songs that them in the world map. They charged as high as N15 million per performance years ago during their prime in the music industry.
In the early 2000s, Psqaure’s Paul and Peter Okoye released hit songs that took the Nigeria music industry by storm. They danced and thrilled their fans with amazing songs that eventually contributed into the transformation of the Nigeria music industry.
After the release of the ‘Get Squared’ album, few years later, they released another album Game Over in 2005. This album took the entire country by storm. The album gave them international recognition with over 8 million copies sold, making it their best selling album.
In 2011, Psqaure was signed to Konvict Music, a record label owned by African American, Akon. The duo featured the African American artist, Akin in their song ‘Chop my money’ remix, Rick Ross in ‘Beautiful Oyinye’ remix and T.I in Ejeajo.
Psqaure released six successful albums such as Danger (2009, The Invasion (2011), and Double Trouble (2014) within a space of six years before their separation in 2017. The twin brother separated due to some misunderstanding but before they did they made their mark in the Nigeria music industry releasing hit songs after hit songs.
Psqaure sold their albums through several platforms like most artists. And as popular as they are Psqaure earn million per show. In August 2012, the duo performed Beautiful Oyinye, Chop My Money at the Love AfroBeat Festival concert at the HMV Apollo sold-out venue.
Psqaure reunited in 2022, and went on a music tour for about five months (August – December 2022) Although the revenue generated from the your is not disclosed but we are certain it’s massive due to the crowd that troop out to these concerts.
6. 2Baba
Full Name: Innocent Ujah Idibia
Stage Name: 2Baba or Tuface
Date of birth: 18 September 1975
Age: 47 years old
Network: $10 million
2Baba is one of the top Nigerian artiste, he’s been in the music industry for decades, he is one of the first Nigerian artists to gain international recognition with his single ‘Africa Queen ‘.
In 1996, he composed and sang jingles at the GB Fan Club at Enugu State Broadcasting Services (ESBC).
He was one of the Plantation Boys, a music group of four. 2Face as he is also called was the major soloist in the group. After the group disbanded, he started his own musical career with hit songs.
His first album, Face 2 Face showcased him as an amazing artist, after the release of the first album, the Nigerian icon went ahead to release more hit songs. Some of this hit songs include, For Instance, No Shaking, Right Here, Police(Skit) and of course the popular African Queen and so much more.
The African Queen coroner has performed both nationally and internationally. His hit song African Queen was used as a soundtrack on the US blockbuster movie Phat Girlz. 2Baba was reportedly paid N10 million for the rights to the song. He also sold over 10 million copies of his music album across the globe.
In 2005, 2Baba had his first endorsement deals as a solo artist, he was made an ambassador by Guinness Nigeria, he got a whooping sum of 15 million naira. Five years later (2010) he landed another endorsement deal worth N20 million with Airtel. In 2017, he also signed another undisclosed deal with brands like Campari, Haven Homes, Hennessy and lots more.
Like most artists, 2Baba make money from his playlist and streaming platforms. As one of the highest paid musicians in Nigeria, he charges about N3 – N5 million per show.
Aside music, the afrobeat artist makes money from endorsement deals with different companies and brands. He is the Chief Executive of Hypertek Entertainment – a record label that manages some prominent artists in the country.
7. Olamide
Full Name: Olamide Gbenga Adedeji
Stage Name: Badoo
Date of birth: 15 March 1989
Age: 34 years old
Net worth: $10 million
Olamide Adedeji common known as Olamide Badoo is an indigenous rapper regarded as one of the top artists in Nigeria.
As one of the highest paid artists in Nigeria with a whopping sum of $10 million dollars, he earns his income from his record label signees’ track releases, collaborations, album sales and live shows.
For collaboration, Olamide charges about 3 million naira but the price goes a whole lot higher for live performances.
As an indigenous rapper, he got the attention of the Nigerian audience with hit songs. In 2014, the Yoruba indigenous rapper began the OLIC (Olamide Live In Concert) show and his tickets were exhausted even before the show.
Olamide has released lots of hit songs such as OmoTo Shan, Stupid Love, First of All, Voice of the Street, Turn Up, Durosoke and lots of others. His songs toped charts on several platforms in Nigeria.
In 2014, he won the Best Rap Album/Album of the Year at the Headies and the Nigeria Entertainment Awards respectively.
Olamide is the owner is YBNL — a record label which is considered one if the biggest levels in the country. The record label has singed some popular artist such as Lil Kesh, FireBoy DML, Picazo, Adekunle Gold etc.
8. Timaya
Full Name: Inetimi Timaya Udoh
Stage Name: Timaya
Date of birth: 15 August 1980
Age: 42 years old
Net worth: $9.8 million
Timaya started his musical career in 2005, the same year he released his debut single ‘Dem Mama’. The song topped many msuci charts in the country. His albums also did so well which also added to his fame and fortune. His second album ‘Gift and Grace’ and the third ‘De Rebirth’ took the whole country by storm. As one of the highest paid Nigerian musicians, Timaya’s networth is about $9.8 Millon.
Timaya is the owner of DM record label which he debuted with King Perry. The record label is home to some top artists in the country such as Patoranking, Runtown and a some others. Timaya got a Grammy nominations after his contribution to Kefee’s song ‘Kokoroko’ which won the Headies Award for Best Collaboration. Timaya has won several awards such as Best Dancehall Act of the year, Best Collaboration, etc.
Timaya generates revenue from record sales, streaming platforms, and also from endorsement deals. He has signed deals with the like of MTN, Mkniepoint, Hennessy, and lots more.
9. Tiwa Savage
Full Name: Tiwatope Savage-Balogun
Stage Name: Tiwa Savage
Date of birth: 5 February 1980
Age: 43 years old
Net worth: $9 Millon
Tiwa Savage is one of the top Nigerian artistes known internationally. As one of the richest and highest paid artists in Nigeria, she charges a minimum of $150,000 including private jet flights for performances outside the country.
Tiwa Savage also called the Queen of Afrobeat started her musicial career as a background singer from some top artists in the world.
In 2013 Tiwa released her debut album, Once Upon a Time, the album did so well and shot her fame all over the country. The album contained songs like Kele Kele Love which was played on almost all the radio stations in the country.
Shortly after that, she released her second album, Eminado and debut EP Sugarcane under Jay-Z Roc Nation.
After she signed with Jay-Z Roc Nation, Tiwa got the international recognition she deserved as well as award nominations for Best Album at the Nigeria Entertainment Awards. In 2018, Tiwa Savage became the first woman to win the ‘Best African Act’ award category at the MTV Europe Music Awards.
Tiwa Savage is arguably the leading female artist in Nigeria with three studio albums and 2 Extended Plays (EPs). She is the richest female artist in the country making million of nara from several streaming platforms as well as endorsement deals.
In 2019, she departed Don Jazzy’s Mavin Records to sign a seven-year publishing and distribution deal with Universal Music Group. With this deal, he sings got distributed to over 60 countries where Universal Music Group operates
As the most followed female artist in Nigeria, Tiwa Savage accumulates wealth from live streaming platforms, live shows and concerts. In 2022, she featured in the Commendabke Water & Garri North American Tour.
10. Phyno
Full Name: Chibuzor Nelson Azubuike
Stage Name: Phyno
Date of birth: 9 October 1986
Age: 36 years old
Net worth: $9 million
The indigenous Igbo rapper is one of the highest paid Nigerian artists. He popularity is attributed to his constant release of hit songs which is sung in every part of the country despite the native Igbo language.
In 2003, Phyno started his musical career as a producer and made large sums. After gaining enough knowledge about the music industry in the country, he released his first studio album ‘No Guys No Glory’s in 2014 along side his debut single ‘Ghost Mode’.
Phyno songs are on all streaming platforms such as Apple Music, Boomplay, Spotify, etc. eaking in millions of Naira. He also makes money from endorsement deals, collaboration, and some undisclosed means.
At the Headies Awards in 2012, Phyno was awarded the ‘Best Collaboration Award and in 2013, he win the same award at the Nigeria Entertainment Awards.
Phyno has a lot of masterpieces to his name, songs like Fada Fada, So Far So Good, Connect, etc generated million of views from YouTube.