Over the last decade, Nigeria’s music business has shifted tremendously from local to worldwide stars. Afrobeats, which began with Nigerian singers, is now impacting global music trends and providing unprecedented financial opportunities for its performers. Discover the top 10 richest musicians in Nigeria 2025 Forbes list, which features Africa’s most successful musicians who have transcended territorial boundaries to gain international recognition and fortune. Also see Who is the Richest Musician in Nigeria 2025
Top 10 richest Musician in Nigeria in 2025
These artists have not only built a reputation for themselves with their unique sounds and styles, but they have also amassed significant fortune from their music, endorsements, and other endeavors.
1. Wizkid – $132 million.
Wizkid, also born as Ayodeji Ibrahim Balogun, remains Nigeria’s wealthiest singer in 2025, with a documented net worth of $132 million (₦200 billion). He is an African music success story, rising from the streets of Surulere to the global stage.
In the first quarter of 2025, Wizkid signed a $40 million contract with Universal Music Group, the largest ever for an African artist. His streaming figures climbed last year to a record high of over 4.2 billion streams from his back catalog alone, generating over $12.6 million in streaming revenue. According to Spotify’s yearly creator report, his tracks are played weekly in 175 countries.
His “More Love, Less Ego” international tour in 2024-2025 grossed $42 million from 38 cities worldwide. He sold out Madison Square Garden, the O2 London (three nights in a row), and Accra Sports Stadium. Pollstar, a music industry publication, named the event the highest-grossing tour by an African musician.
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2. Davido – $108 million
Despite being born into wealth through his father, Davido’s fortune has risen to $108 million. He did not rely on family fortune; instead, he dropped out of Oakwood University to study music in Nigeria before continuing his education at Babcock University.
The 2024-2025 “Timeless World Tour” was his most successful ever, grossing more than $35 million from 42 gigs on five continents. His album went on to receive over 1.5 billion streams across platforms, making him one of Africa’s most well-known musical exports.
3. Burna Boy – $95 million
Damini Ogulu, often known as Burna Boy, is one of Africa’s most successful musical exports, with an estimated net worth of $95 million. His grandfather formerly managed Fela Kuti. As a result, Burna Boy is descended from a musical family. His climb to international popularity, however, has become one of the most extraordinary stories in African music.
Burna Boy’s market value skyrocketed after he won a Grammy in 2020 for his album ‘Twice as Tall. The value of his performance fee increased by almost 60%. Furthermore, he became eligible for premium endorsement deals, which were previously unavailable to any African artist. According to industry estimates, the Grammys will generate $15-20 million in income between 2021 and 2025.
His 2023 album “I Told Them…” debuted at no. 1 on the Global Albums Chart and generated an estimated $18 million from streaming, physical sales, and licensing revenues. Netflix’s estimated $5 million agreement for the documentary “Burna Boy: African Giant Rising” introduced a new revenue source in 2024.
4. Don Jazzy ($90 million)
Michael Collins Ajereh, often known as Don Jazzy, exemplifies a distinct type of success in the Nigerian music industry. While mostly renowned as a producer and entrepreneur rather than a singer, his impact on Nigerian music is unrivaled, having molded the careers of many of the country’s top stars throughout numerous generations.
According to the 2024 Don Jazzy Report, Mavin City, Don Jazzy has established a new addition to his Mavin Records empire in Lagos, dubbed Mavin City. It is a creative hotspot with recording studios. In addition, there are video multimedia studios and artist development spaces. There’s also a performance venue. The ₦2 billion investment represents his goal for a world-class entertainment sector.
Mavin Money is a financial services platform founded by Don Jazzy that provides banking and investment services. It is designed primarily for creatives and entertainers.
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5. Tiwa Savage ($86 million)
Tiwa Savage, sometimes known as Tiwatope Savage, is Africa’s richest female musician, with a net worth of $86 million. With her success as a backing singer for world-famous artists such as Mary J. Blige and George Michael, as well as her ascension to global superstardom, no one would argue that her incredible success story is one of music’s most impressive success stories!
She signed with Motown Records in 2021, reportedly for $7 million, becoming the first African female singer to do so. (25 words.) This collaboration significantly boosted her global reach and possible earnings.
Her 2023 album, Water & Garri, was both critically and commercially successful, with the lead single “Somebody’s Son” starring Brandy being a global hit with over 800 million streams across platforms. The accompanying international tour grossed more than $15 million across four continents.
She is a new actress in the Netflix original film Queen of Lagos (2025), and pundits believe she will have two major roles in Hollywood by late 2025. Her net worth might reach $120 million by 2027 as a result of her burgeoning business empire in beauty-cosmetics and fashion, which is worn by many celebrities, as well as event management and, of course, films and shows.
6. Olamide – $70 million
Olamide Adedeji has successfully represented Lagos’ street culture through his songs. Olamide has achieved enormous success by tapping into the local Nigerian market and becoming famous. This contrasts with many of his contemporaries, who primarily focus on overseas markets.
The 2024 agreement with Sony Music Africa, reportedly valued at more than $10 million, involves investment for a cutting-edge recording complex as well as distribution support, boosting YBNL’s market position and Olamide’s personal wealth.
Olamide made his feature production debut in 2024 with Streets of Lagos, which he executive-produced on Netflix. The film highlights the street culture that Olamide has always centered on. In early 2025, Lil Nas X began acting, releasing his first film as an indication of growing interest.
Money analysts believe Olamide’s net worth will reach $100 million by 2028, owing to the success of YBNL Nation and the expansion of his other enterprises. This entrepreneur anticipates success beyond his music career by investing in new talent and diversifying into other segments of the entertainment industry.
7. Rema – $55 million
Rema, real name Divine Ikubor, is widely regarded as one of Nigeria’s new generation of musical talents who rose to prominence at a young age and on a global scale. His quick rise to money and recognition places him among Africa’s most successful entertainment figures.
His digital-first success exemplifies a new model for African artists, exploiting global streaming platforms to gain international exposure ahead of traditional touring cycles, reversing the established trend for wealth creation in the music industry.
Rema founded his musical label “Rave Music” under Mavin Records in early 2025 to uncover and develop talent. His recent appointment as Louis Vuitton’s brand ambassador (at an estimated €3 million per year) demonstrates that he is more than just a global musical superstar.
Financial analysts estimate Rema’s net worth to be about $100 million when he turns 30. This is due to his international popularity, business activities, and increased investments. His management team is developing a digital firm centered on virtual reality concert experiences, putting him at the intersection of music and technology.
8. Phyno – $42 million
Chibuzo Nelson Azubuike, better known as Phyno, is one of Nigeria’s most successful indigenous rappers, worth $42 million. Phyno followed Olamide’s path, and his success as an Igbo rapper demonstrates that keeping true to your culture can lead to commercial success in Nigeria.
Phyno began creating beats around 2003. Then, around 2010, he shifted to rapping after moving from Enugu to Lagos in search of better possibilities. His debut album, “No Guts No Glory” (2014), included the hit singles “Ghost Mode” featuring Olamide and “Man of the Year”.
His impact goes beyond his own songs. He and Olamide created what is now known as the indigenous wave in Nigerian hip hop, which inspired many people to rap in their own language. His annual show “Phynofest” has become one of Nigeria’s most popular musical events, with over 50000 attendees.
Phyno collaborated with Google around the end of 2024 to develop an AI assistant for the Igbo language. This effort, which combines culture and technology, demonstrates his dedication to his culture.
His venture into film production with East Side Story, a film about hip-hop life in eastern Nigeria, demonstrates his filmmaking abilities. The film, which is slated to be released in 2025, is expected to extend his impact.
9. Mr Eazi – $40 million
Oluwatosin Ajibade, better known by his stage name Mr Eazi, represents a new type of African music entrepreneurship. He has chosen to express himself through his own independence, ingenuity, and wise economic judgments, establishing himself as an artist and entrepreneur.
Mr Eazi composed his debut song while studying at KNUST in Ghana. To help pay for college, he started a party marketing company. In 2015, he rose to prominence with the release of “Skin Tight” featuring Efya, and in 2017, he released his mixtape Life Is Eazi, Vol. 1: Accra to Lagos.
Mr Eazi’s approach to music is always business-first, which distinguishes him from most of his colleagues. He is recognized for his independence. He never signed to a major label. Instead, he would form strategic relationships. Furthermore, he kept ownership and creative authority over his masters. Because of his business spirit, he has made a lot of money outside of the music industry.
The program has altered how talent is found and cultivated across Africa, opening up new paths to success beyond established label systems. It has established Mr. Eazi as an industry architect rather than just an artist.
In early 2025, Mr Eazi announced the expansion of emPawa Africa, as well as a $10 million fundraising round to build infrastructure for independent musicians across Africa. These would include recording studios, distribution networks, and marketing assistance. With this move, he becomes the driving force behind Africa’s music business infrastructure.
10. Yemi Alade – $32 million
Yemi Alade, whose full name is Yemi Eberechi Alade, has a net worth of $32 million and is one of Africa’s most successful female performers. She rose from a talent show contestant to a continental sensation thanks to her own perseverance and clever career management.
Yemi Alade gained popularity after winning the Peak Talent Show in 2009. But it was her song ‘Johnny’, released in 2014, that marked her continental breakthrough. The hit song was successful in different parts of Africa, establishing her as a pan-African star rather than a Nigerian star.
Yemi Alade is one of the rare celebrities who shift their focus away from Western crossover and toward Africa. She records music in numerous African languages, including English, French, Swahili, and Portuguese, to reach all African audiences.
Her pan-African strategy has paid off, as she is one of the continent’s most booked performers, performing in over 30 African nations. Her “African Baddie World Tour” (2023-2024) was the most extensive tour by a female African musician, covering 35 cities on five continents for $8 million.
Yemi Alade founded her own production firm, “Mama Africa Studios,” in early 2025 to create material with an African perspective. The project aspires to create films, documentaries, and series for international streaming platforms in addition to music.
Her recent appointment as the African Union’s cultural ambassador presents her with an excellent opportunity to promote African arts and culture on a global scale, in keeping with her pan-African branding.
Financial analysts predict that her net worth will reach $50 million by 2028, owing to her commercial interests in entertainment production, fashion, and possibly even hospitality. Her company plans to open a chain of African-themed restaurants in major cities throughout the world, pushing her popularity on the continent to the next level for economic expansion beyond entertainment.
Conclusion
These musicians demonstrate not only the wealth that can be earned through ability and hard work in the Nigerian music industry, but also the industry’s diversity.
From afro rhythms to hip hop and highlife, these artists have exploited their platforms to earn international fame, amassing fortunes that rank them among Nigeria’s wealthiest musicians.