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The music industry in Nigeria has continued to grow in leaps and bounds over the past few years. This is evident in the number of artists that have emerged from the country and achieved international recognition. This is a good thing for the country as a whole because it shows that the music industry is viable and that there is money to be made. Despite the global pandemic, the Nigerian music industry is still thriving. This is mainly because the country is home to some of the wealthiest musicians in the world. Here is a list of the top 10 richest Nigerian musicians in 2022.

The Richest Nigerian Musicians in 2022 (October):

  1. Davido ($40M)
  2. Wizkid ($30M)
  3. Don-Jazzy ($20M)
  4. Burna Boy ($20M)
  5. 2Baba/2Face/Innocent Ujah Idibia ($18M)

1. Davido


David Adeleke or Davido is the wealthiest Nigerian musician, with an estimated net worth of $40 million. He has earned his place in the music business with big hits like “Fall,” “Assurance,” “If,” and “Dami Duro.” 

Undoubtedly, the Afrobeat star is among the most famous musicians in Africa. Davido made the Forbes Africa 30 Under 30 list in 2018 because he knows how to run a business in music. He is one of the most famous music artists in Africa and around the world right now. He has put many successful artists on the D.M.W. record label, like Mayorkun, Dremo, Peruzzi, and others. 

Davido has also won many awards since he became well-known, including B.E.T. and MTV awards. He has also signed endorsement deals with M.T.N. and Guinness Nigeria. 

2. Wizkid


As of 2022, Wizkid is the second-richest musician in Nigeria, with an estimated $30 million in earnings. Wizkid is a talented singer who has won several awards.

Since he released his first single, “Holla at your boy,” he rose to fame and broke many records. In 2016, he worked with Canadian rapper Drake on a song called “One Dance,” which broke a Guinness World Record for being Spotify’s most-played song. His collaboration with Beyonce on “Lion King: Gift” album, “Brown Skin Girl,” won a Grammy for Best Music Video. 

In 2021, his album “Made in Lagos” was a huge success, and his single “Essence” went viral and topped charts worldwide. Wizkid has built a reputation in the industry and obtained many endorsement deals, enabling him to become highly wealthy and raise his net worth.

3. Don-Jazzy


Don Jazzy, whose real name is Michael Collins Ajereh, is the third richest musician in Nigeria. He has carved out a place for himself in the music industry and become a leader. 

Reports say that Don Jazzy, the C.E.O. of Mavins Records, is worth $20 million, which has changed the way he lives and what he likes. His music career took off after he and Oladapo Daniel Oyebanjo, better known as Dbanj, started a company called Mo-hits records. 

Don Jazzy has won awards like “Producer of the Year” for the song “Over the Moon, Pop Something” and “Mr. Endowed” from the Headies in 2011. At the Headies 2014, he also won the City People Entertainment 2015 award and the Producer of the Year award for the song “Dorrubucci.” 

4. Burna Boy


Burna Boy, whose real name is Damini Ebunoluwa Ogulu, is the fourth richest musician in Nigeria. He has a net worth of $20 million as of 2022. He was on the list of the wealthiest artists in 2021 and 2020. 

The singer, rapper, songwriter, and dancer who has won a Grammy is one of the first people to make Afrobeat music worldwide. Burna Boy, from River state, became famous all over the country in 2012 when he released “Like to Party” from his first album, L.I.F.E. 

He was named African Artist of the Year at the 2020 Vodafone Ghana Music Awards. At the 63rd Annual Grammy Awards, Burna’s album Twice as Tall was nominated in the same category. This made him the first Nigerian to be nominated at the Grammys twice in a row. 

By 2021, Burna Boy won the 63rd Annual Grammy Award for Best World Music Album. This was the first time a Nigerian solo artist had won this award. 

The singer of “Odogwu” recently had a massive hit with “Last last,” the first single from his upcoming sixth studio album, “Love, Damini.” “Last last” started at number 1 on the UK Afrobeats chart. Burna Boy is the first musician in the world to have two songs reach the top of the charts.

5. Tuface Idibia


With an expected net worth of $18 million, Innocent Ujah Idibia, also known as 2Baba, 2Face, is the fifth richest musician in Nigeria. He is from Benue State and has emerged as one of Nigeria’s most famous Afropop artists. 

He started with the group Plantashun Boiz and then went on his own. The singer of “African Queen” decided to sign to Kenni’s Music, where he put out his first album, also called “African Queen.” 

In 2004, he became well-known because of the song “African Queen.” Since then, he has kept making a name for himself in the music business with hits like “Amaka,” “Oyi,” and many others. He has also won 70 awards, including the MTV Music Awards, the Headies, and the B.E.T. Awards.

Richest Nigerian Musicians

To Sum It Up: 

This article has outlined the top richest Nigerian musicians in 2022. These artists have achieved success through hard work, talent, and luck. While there is no guarantee that any artist will remain on top forever, it is clear that these musicians have what it takes to sustain their wealth in the years to come.

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