The music industry in Nigeria has been on a worldwide streaming binge as one of the nation’s fastest-growing sectors. Performers in these parts still have a tall task to compete with the world’s wealthiest musicians or prominent personalities from other industries.
But the Afrobeats genre, heralded by Nigerian artists, has had a favourable impact on the general perception of African music worldwide. Jobs in the trillion-dollar industry now rank as some of the highest-paying employment opportunities in the country.
Five Richest Musicians In Nigeria
1. Don Jazzy
Net Worth: $52 million
Don Jazzy takes the crown for richest musician in Nigeria with relative ease – as he has found success in three different eras: the CD era, the download era and the streaming era. He has a strong interest in luxury automobiles and mansions.
Net Worth: $37.26 million
Peter and Paul Okoye of P-Square had a prosperous period in their prime, charging up to 15 million NGN per performance, a significant figure when accounting for inflation. The duo’s career remained brisk until 2016 when they acrimoniously disbanded.
Net Worth: $27.6 million
Davido enjoys an average of 20 million YouTube views per video. He has a long list of accomplishments that culminated in his performance at the FIFA World Cup closing ceremony in 2022, cementing his position among the richest musicians in Nigeria.
Net Worth: $26 million
The fourth on the list, Wizkid is the first Nigerian to sell out the 02 Arena in London for three consecutive nights. “Essence” from his 2020 album “Made in Lagos” is the first Nigerian song in history to rank on the Billboard Hot 100 and Billboard Global 200.
5. Burna Boy
Net Worth: $16 million
Since his 2012 breakout, Burna Boy has been one of the genre’s global forerunners. The singer rapper, composer and lyricist made history in 2021 when he won the 63rd Annual Grammy Award for Best World Music Album, becoming the first Nigerian solo artist to grab the prize.