Iwobi has agreed a five-year contract with Marco Silva’s men, in a deal worth €43million on Thursday.
The 23-year-old overtakes Super Eagles team-mate, Kelechi Iheanacho, who cost Leicester City 25million when he arrive from Manchester City.
The list features some of Nigeria’s present and past players, with names like Odion Ighalo, Yakubu Aiyegbeni and Austin Jay Jay Okocha.
Top 12 most expensive Nigerian players:
1. Alex Iwobi, Arsenal to Everton: €43million
2. Kelechi Iheanacho, Manchester City to Leicester City: €27.7million
3. Odion Ighalo, Watford to Changchun Yatai: €23.3million
4. John Obi Mikel, Lyn Oslo to Chelsea: €20million
5. Ahmed Musa, CSKA Moscow to Leicester: €19.5million
6. Wilfred Ndidi, RC Genk to Leicester: €17.6million
7. Yakubu Aiyegbeni, Middlesborough to Everton: €16.5million
8. Obafemi Martins, Inter Milan to Newcastle: €16million
9. Emmanuel Emenike, Spartak Moscow to Fenerbahce: €13million
10. Austin Okocha, Fenerbache to PSG: €12.4million
11. Victor Osimhen, Charleroi to OSC Lille: €12million
12. Victor Moses, Wigan to Chelsea:€11.5million