The top ten highest-paid Nigerian musicians are the likes of Don Jazzy, Psquare, Davido, Wizkid, Burna Boy, Baba, Olamide, Timaya, Tiwa Savage, and Phyno, who pocket from N2 million to N20 million per show.
Music is great food for the soul, and it is big business — a lucrative one at that. Interestingly, some of the biggest entertainers in the world make their monies in various ways, including concert revenue, live shows, and streaming platforms. In Nigeria, where the music industry is the nation’s fastest-growing sector, some prominent singers and artists have made their mark and are reaping handsomely from booming careers. Here is a list of the top ten highest-paid Nigerian Musicians and artists and how much they earn per show.
1. Don Jazzy is the Highest Paid Nigerian Musician
- Full Name: Michael Collins Ajereh
- Stage Name: Don Jazzy
- Date of birth: 26 November 1982
- Age: 41 years old
- Net Worth: $52 million
Michael Collins Ajereh, known as Don Jazzy, is a Nigerian record producer, record executive, singer, songwriter, entrepreneur, and philanthropist. He is the founder and CEO of Mavin Records. Don Jazzy was co-owner of the defunct Mo’ Hits Records record label with Dbanj, and although they later went their separate ways, Dbanj did contribute significantly to Don Jazzy’s fortune. His fortune from Mo’ Hits Records did well to contribute to the establishment of Mavin Records, Nigeria’s leading record company.
Although Don Jazzy did not take credit as a singer, his appetite for music has seen him produce some of the best hit songs in the country, but the music albums, Rundown/FuckYouUp and No Long Thing” could be attributed to the source of his wealth today. His underground lyrics attracted and, of course, led to the musical success of young talents like Sauce Kid, Dr. SID, Ikechukwu, Wande Coal, and D’Prince.
Internationally, Don Jazzy has also worked with the likes of Kanye West and Jay-Z. His joint effort with Jay-Z and Kanye West led to the production of the song “Lift Off” in the album, Watch The Throne, featuring Beyonce. This move fetched him global recognition as the song got international attention.
With some of his best songs, including Dr. Sid’s ‘You Bad’, Tiwa Savage’s ‘Eminado’, and of course, the over one million-viewed Doro Buchi, which features all crew members of Mavin record, Don Jazzy is now one of the best artists you could find in the Nigerian music industry. For his qualification in music-making, Don Jazzy charges from N8 – N20 million naira to appear in any show. This includes plus other expenses that will be fully catered for by the invitee.
Aside from making music, Don Jazzy generates income from brand endorsement deals with top companies like Konga, V bank, MTN, Globacom, and Betway. He is also into comedy skits and has made skits with comedians like Broda Shaggi, Mr. Macaroni, Taaooma, Nasty Blaq, and Okiki DFT. He is also into the forex business as well as other personal businesses he has built over the years.
2. PSquare
- Full Name: Peter and Paul Okoye
- Stage Name: Mr. P & Rude Boy
- Date of birth: November 18, 1981
- Age: 42 years old
- Net Worth: $37.26 million
With a combined estimated net worth of $37.26 million, and a music career of over three decades, Peter and Paul Okoye of Psquare are among the highest-paid Nigerian musicians. They are also considered among the top five richest musicians in Nigeria. P-Square had a prosperous career in its prime, charging up to N15 million per performance, a significant fee when accounting for inflation.
The duo started their music career in their early teenage years, but their first emergence to fame followed the release of their debut album in 2003. The twins are quite talented and are terrific with their vocals, but one is more skilled in choreography. However, their sizzling dance moves are an integral part of some of their music videos. They are known for their unity and charismatic effect in their songs. They built their musical career together as one body until they suddenly separated due to some misunderstanding.
Two years after the release of their sophomore album “Get Squared” in 2005, PSqure’s “Game Over” came alive. The album not only became their best-selling album (8 million copies sold), but it gain them more fame internationally. In 2011 they got signed to Konvict Music, a record label owned by African-American artist, Akon, and they featured Akon in the remix of their “Chop my money” track. They also featured American rapper Rick Ross in their “Beautiful Onyinye” remix and another US rapper, T.I. in “Ejeajo”.
Before P-Square officially disbanded in 2017, they were known to have released six successful albums, including Danger (2009), The Invasion (2011), and Double Trouble (2014). Much of their income as musicians comes from their international singles – “E No Easy” (featuring J. Matins), Positif”, “Chop My Money” Remix, “Personally”, etc. As earlier explained, the twin made their income from their album sale and royalties.
Like most Nigerian contemporary artists, PSquare also sold their albums via various internet platforms. Notable internet channels in this regard include iTunes (by Apple), Youtube, Amazon Music, and SoundCloud, among others.
Talking about their earnings from tours and concerts, PSquare are quite popular across Africa and even beyond, and one of the reasons why this is so is because of their numerous tours both locally and internationally. On August 26, 2012, P-Square performed “Chop My Money” and “Beautiful Onyinye” at the Love AfroBeats Festival, a concert they headlined. The duo also performed the song to a sold-out crowd at the HMV Apollo
In 2022, after their reunion, the duo embarked on a world music tour that lasted for about five months ( 5th of August 2022 – 10th of December 2022). While the exact income generated from tours and international concerts was not revealed, there is no doubt that they’re quite massive, enough to impressively influence their net worth.
3. Davido
- Full Name: David Adedeji Adeleke
- Stage Name: Davido
- Date of birth: November 21, 1992
- Age: 31 years old
- Net Worth: $28 million
Also on the list of highest-paid Nigerian musicians is David Adedeji Adeleke. Davido is one Nigerian artist that blends traditional African music with mainstream pop sounds, and it is therefore not surprising how he has grown to become one of the most popular artists in Africa.
In Nigeria, he’s considered an icon of both culture and pop music as a whole. Time Magazine crowned Davido as one of the biggest voices in Afrobeats in 2021 as part of their Next Time 100 list. Considering his social and financial strength, you could cough out roughly N10-N40 million to have the ’30 Billion Gang’ head honcho Davido appear in your show.
Davido is notably one of the biggest artists in Nigeria, with a multitude of followers on various social media platforms, and of course, streaming platforms are among his biggest earning points. Apparently, he earned over N254 million from online streamings of his latest album. No wonder why he once held the title of Africa’s best-selling artist.
In 2018, he also revealed that his songs “If” and “Fall’ made massive money for him. According to him, “If’ sold over 2 million copies as a single from his album, and his other single titled ‘Fall” sold more than 10 million copies globally.
Davido’s 4th album, “Timeless” is notably one of the albums with the biggest online streams. The album reportedly set the record for the most streams in a single day by an African artist, with over 50 million streams on various music platforms. It also sold over 1 million copies on its first day of release. This feat surpassed the previous record held by Wizkid and Burna Boy.
In addition to making most of his income from album sales, Davido also makes a relatively significant amount of money from views he gets on his videos on Youtube and Vevo, as well as live performances and shows. One of his biggest live performances was at the World Cup closing ceremony in Qatar in 2022, cementing his spot among Nigeria’s richest musicians.
In 2014, Davido reportedly made about N3.5 million to N5.5 million per show or per live performance after he released the single titled ‘Aye”. The singer spent five years as the co-owner of the record label HKN after which he started his own record label in the year 2016 known as Davido Music Worldwide (DMW), where he signed Dremo, Dammy Krane, and Mayorkun. He reportedly charges about $150,000 plus a flight in a private jet for live performances outside the shores of Nigeria.
4. Wizkid
- Full Name: Balogun Ayodeji
- Stage Name: Wizkid
- Date of birth: 16 July 1990
- Age: 33 years old
- Net Worth: $26 million
Wizkid is undoubtedly one of the highest-paid Nigerian musicians so far. The Star Boy reportedly charges around $682,000 for exclusive shows plus a whopping $150,000 as a booking fee. In 2018, he was allegedly paid $681,200 to perform at a royal wedding at Umaid Bhawan in Jodhpur, India, one of the most exclusive private mansions in the world.
In fact, in 2022, he was dubbed the highest-paid music performer in Nigeria after he was paid a whooping sum of $1 million dollars to headline the world’s largest Hip-Hop festival, Rolling Loud, in Toronto, Canada.
Some other big events where Wizkid made huge financial breakthroughs include Kenya, where he was paid $150,000 to headline Katika Festiva. He was, in 2018, paid the sum of $130,000 for a 4-minute, 11-second performance at the year’s Confederation of African Football. This means he received N11.2M per minute and N187K per second. Although he rarely performs in Nigeria, his performance at the God Can Bless Anybody charity concert held on 14th December 2018 at Liberation Stadium, Elekahia, PH, saw him taking home a whopping N30 million. It is, therefore, not in doubt that live shows have a huge influence on Wizkid’s net worth.
Aside from live shows, Wizkid accrues his net worth from sources like streaming, tours, licensing, and the like. Made In Lagos, his 4th album, recorded above 200 million streams on several digital platforms in 2020. After he featured Tems in his hit single Essence, the song went on to make Barack Obama’s Favorite tracks of 2020. The Star Boy also recorded over $200,000 just from online streaming of tracks like Come Closer and My Love,
just on Spotify alone.
Wizkid began recording music at the age of 11, and today, he is the owner of Starboy Entertainment. His record label has given him the leverage to make more money from his albums and performances without having to give major cuts to a label. He makes money from artists signed under his label and other label business ventures. On the side are his businesses, and endorsement deals with big companies like Tecno and Puma also contribute to his jaw-dropping net worth.
5. Burna Boy
- Full Name: Ebunoluwa Damini Ogulu
- Stage Name: Burna Boy
- Date of birth: July 2, 1991
- Age: 32 years old
- Net Worth: $17 million
Burn Boy is another music artist whose net worth of a whopping $17 million enlists him among the highest-paid Nigerian musicians. Burna Boy’s wealth is attributed to his consistently producing hit songs and albums. A case in point is his song, “Last Last,” which nabbed the number one spot on Billboard Afrobeats Songs Charts in 2022.
Like his counterparts in the music industry, Burna Boy generates much of his wealth from sales of albums, his record label, endorsement deals, tours and shows, and streaming platforms. The 32-year-old artist charge per show ranges from $200k to $750k, which is quite huge and significant to his financial growth.
Since he began his music career in 2010, Burna Boy has led a very successful career, having released diverse songs and albums that are known internationally. Luckily, his songs have paved the way for him to gain recognition as a global artist and have been a contributing factor to his wealth. He has released a total of 6 albums, 39 singles, 2 mixtapes, and 2 extended plays.
While the exact amount he has made through sales of his songs and albums is not known, it is reported that Burna Boy made about $12 million from selling his songs globally. One of his record-breaking sales was African Giant, his best-selling album, which sold over 60,000 copies.
Burna Boy has found great success on streaming platforms like Spotify, where he records over eighteen million listeners monthly. This means he earns about half a million dollars on Spotify each year. His sixth studio album, “Love Damini,” also hit half a billion streams on Boomplay just three months after its release. This makes the Afrobeat singer the first artist to achieve this historic milestone.
It is also important to also note that live performances at top events bring in a large amount of income for the Afrobeat singer Burna Boy. From performing at the Grammy Awards to the Hollywood Bowl, he’s done it all and was paid handsomely for it. Burna Boy is also the first Nigerian musician to sell out a concert at Madison Square Garden in New York, USA.
He has also single-handedly sold out a variety of other esteemed venues around the world, such as the Accor Arena, O2 Arena, Ziggo Dome, Ahoy Arena, Wembley Arena, Partille Arena, Geneva Arena, Hovet Arena, and Toyota Music Factory.
6. 2Baba
- Full Name: Innocent Ujah Idibia
- Stage Name: 2Baba
- Date of birth: 18 September 1975
- Age: 48 years old
- Net Worth: $10 million
The Nigerian music icon 2baba makes money from his playlist and albums on YouTube, iTunes, Spinlet, and other video/audio streaming services. In addition, 2Baba charges within the range of N3-N5 million naira per show booking making him one of the highest-paid Nigerian musicians. 2baba has been performing in live shows since his high school years. As a student, he composed and sang jingles at the GB Fan Club at Enugu State Broadcasting Services (ESBS) in 1996.
After his music group Plantation Boys disbanded, 2baba sought to build a solo music career. His first hit album, Face 2 Face, showcased him as a viable solo music artist. The success of the music album inspired him to release more. 2baba went on to release various other albums with hit tracks recognized both locally and Internationally. Most notable among his hit tracks include African Queen, Ole, Right Here, Police (Skit), No Shaking, Implication, Enter the Place, etc.
His song titled ‘African Queen’ went down as a seminal song and was used as a soundtrack on the hit US urban movie Phat Girlz. 2baba was reportedly paid N10 million for the rights to the song. While he is known to have sold over 10 million copies of his music album, it is also true that the music icon sold over 5 million copies of his iconic song ‘African Queen’ across the globe.
For additional income, 2baba earns money from online music platforms such as Spinlet, iTunes, Youtube, Ring Back Tunes, and MusicPlus of MTN Telecommunications. He also draws revenue from his collaboration with Nigerian Breweries’ Star Music: The Trek. 2baba is the Chief Executive of Hypertek Entertainment – a record label that manages acts like Dammy Krane and Dr. Victor Uwaifo.
Aside from music, 2baba generates income from his real estate business as well as his endorsement deals with many notable companies. The first deal 2Baba had as a solo artiste was in 2005 when he was named as an ambassador by Guinness Nigeria in a 15 million Naira deal. In 2010, he signed a 20 million naira endorsement deal with Airtel. With Globcom, 2baba also signed an undisclosed deal in 2017. Other brands like Campari, Hennessy, and Haven Homes have deals with him.
7. Olamide
- Full Name: Olamide Gbenga Adedeji
- Stage Name: Badoo
- Date of birth: 15 March 1989
- Age: 35 years old
- Net Worth: $10 million
With a whopping sum of $10 million, Olamide Adedeji, who is most famously known as Badoo, is an indigenous rapper who is regarded as one of the first few artists in Nigeria to bring indigenous rapping, second only to Da Grin.
Olamide earns his income from his collaborations, his record label signees’ track releases, album sales, and event organization. He is said to charge as low as 3 million naira for collaborations, be it for a verse or chorus, but charges above that for show performances.
Olamide’s indigenous Yoruba rapping drew the attention of the Nigerian audience, as there was only one other musician in the country who attempted it. In 2014 when Olamide began the OLIC (Olamide Live In Concert) show, his tickets were usually exhausted before the event, proving how responsive the fans are to his style.
Apparently, he began to accumulate his wealth from sales of his hit albums and songs like “Omo To Shan,” “First of All”, “Stupid Love”, “Durosoke,” “Turn Up,” and “Voice of the Street” which charted on several radio stations in Lagos and across Nigeria. Baddest Guy Ever Liveth, Olmide’sthid studio album, went to win Best Album of the Year, and Best Rap Album /Album of the Year at the 2014 Nigeria Entertainment Awards, and The Headies 2014, respectively.
One other good source of Olamide’s wealth is his music record label YBNL, which is considered one of the biggest labels in the country. The record label is home to artists such as Adekunle Gold, Lil Kesh, FireBoy DML, Chinko Ekun, Picazo, Temi Ovuwasa, etc. His investments in promoting songs by these artists yield massive income for him. Licenses, streaming platforms, and, of course, endorsement deals with Ciroc, Guinness, and Etisalat (9mobile) are also contributors to his income.
8. Timaya
- Full Name: Inetimi Timaya Odon
- Stage Name: Timaya
- Date of birth: 15 August 1980
- Age: 43 years old
- Net Worth: $9.8 million
Though he charges lower compared to his counterparts in the music business, Timaya is also one of the highest-paid Nigerian musicians on our list. Timaya started his music career in 2005 and became famous the same year with the release of his debut single, “Dem Mama,” which topped many music charts and received great critical acclaim.
His sophomore album ‘Gift and Grace’ as well as his third album “De Rebirth” was instrumental to his further rise to fame, thanks majorly to his success-themed lead single “Plantain Boy.” He has, so far, released 8 studio albums with some of the best hits in the country
Timaya owns the DM record company, which debuted with King Perry. Runtown and Patoranking are two popular artists on the label. Moreso, his contribution to Kefee’s 2010 song “Kokoroko,” which won the Headies Award for “Best Collaboration,” earned him a Grammy nomination. He has won several awards, including “Best Collaboration” and Dancehall Act of the Year awards.
Aside from record sales, licenses, and online streams, Timaya generates income from ambassadorial deals he signed with companies like MTN, Hennessy, and Moniepoint, among many others.
9. Tiwa Savage
- Full Name: Tiwatope Savage-Balogun
- Stage Name: Tiwa Savage
- Date of birth: 5 February 1980
- Age: 44 years old
- Net Worth: $9 million
Better known by her stage Tiwa Savage, Tiwatope Savage-Balogun, ranks 9th among Nigeria’s highest-paid Nigerian musicians. Also one of the wealthiest in the Nigerian music industry, Tiwa Savage demands a minimum of $150,000, including private jet flights for performances outside of Lagos.
The 44-year-old Nigerian singer, songwriter, and actress is also called the Queen of Afrobeats. She began her music career doing backup vocals for some top-notch artists in the world, but in 2013, she succeeded in doing her own music with the release of her debut album, Once Upon a Time.
With songs like “Kele Kele Love”, “Ife Wa Gbona”, and “Eminado”, Tiwa made her first rise to fame in the Nigerian Music industry. She released her second album, “Eminado”, and debut EP Sugarcane under Jay-Z’s Roc Nation.
Luckily, these two earned her more fame in the industry with rewarding award nominations for ‘Best Album’ at the Nigeria Entertainment Awards. She also became the first woman to win the ‘Best African Act’ award category at the 2018 MTV Europe Music Awards.
Today, with three studio albums and 2 EPs, Tiwa Savage becomes one of the leading women in the Nigerian music industry. She is also the richest female Nigerian musician. The beautiful mother of one makes much of her wealth from her music and endorsements. In addition to making money from sales of her albums and singles, Tiwa made income from concerts and music tours, including the commendable ‘Water & Garri North American Tour’ she made in 2022.
Tiwa’s reputation as the most followed female African artist on social media is instrumental in her accumulation of wealth through various live-streaming platforms.
Following her departure from Don Jazzy’s Mavin Records in May 2019, the singer signed a seven-year publishing and distribution deal with Universal Music Group. This means that her songs will be distributed in over 60 countries where Universal Music Group operates as a result of her new deal with the company.
10. Phyno
- Full Name:Chibuzor Nelson Azubuike
- Stage Name: Phyno
- Date of birth: 9 October 1986
- Age: 37 years old
- Net Worth: $9 million
Finding Phyno’s songs on streaming platforms like Boomplay, Apple Music, and Spotify is one of the many ways the young Igbo rapper, singer, songwriter, and record producer makes his wealth. Phyno’s widespread fame is mostly attributed to his constant release of blockbuster songs that eventually go viral around the nation, despite being mostly sung in the native Igbo language.
Phyno began his career in 2003, not as a singer or rapper, but s a music producer, and for many years, he made huge incomes while gathering more knowledge about music-making. He eventually made his first break in 2014, with the release of his debut studio album No Guts No Glory, supported by his debut single “Ghost Mode” which came to public awareness featuring fellow rapper Olamide.
Phyno’s debut album not only helped him to cash out from Nigeria’s wealth well but also awarded him the ‘Best Collaboration Headies Award in 2012 as well as at the 2013 Nigeria Entertainment Awards. Less than a month after the music for the lead single was made available, the video followed. The album’s second single was titled “Obago (Man of the Year).
Like other musicians in Nigeria, Phyno makes his money from online streams, live performances, endorsement deals, investment in the media, collaborations, and several other undisclosed means. Songs like ‘Fada Fada’, ‘ Connect’, and ‘So Far So Good’ gave Phyno immense online fame with over 32 million, 13 million, and 11 million youtube views.
The young artist also made huge income from his record label Penthauze Music which he founded in 2008 after leaving Olamide’s YBNL. He is said to make millions investing in the lives of young talented artists signed to his record label.
10 Highest Paid Nigerian Musicians and Artists Per Show
- Don Jazzy
- Psquare
- Davido
- Wizkid
- Burna Boy
- 2baba
- Olamide
- Timaya
- Tiwa Savage
- Phyno