The 5th Edition of the Soundcity MVP Awards Festival kicked off on February 11th, 2023. Alongside the need to celebrate the African entertainment industry, the awards show was established to showcase and honour African music and its artists, recognising the hard work and creativity that African artists employ to provide their global audience access with premium entertainment.

This year, it featured fifteen (15) award categories and Burna Boy took first place with eight nominations in seven categories. Ruger won the award for “Best New MVP”, Asake scored a win for “Male MVP” while Tems won the “Female MVP” award. Oxlade’s hit track, “Ku Lo Sa” got awarded for “Listener’s Choice”. The award for “Viewer’s Choice” went straight to “Costa Titch” by Big Flexa ft. C’buda M, Alfa Kat, Banaba Des, Sdida & Man T. The award categories also included the awards for “Innovation in Creative Arts” which was won by Kemi Adetiba; “Innovation and Excellence in Fashion”, won by GTCO Fashion Week; “Innovation and Excellence in Fintech”, won by Iyinoluwa Aboyeji.