Have you ever wondered which state is the richest in Nigeria? Here’s an article on the list of the top 10 Richest States in Nigeria.
The truth is there are many richest States in Nigeria. Even though Nigeria is not part of the richest country in the world. The most populous black country has a lot of natural resources and minerals which enrich not only the federal government pockets but the state’s own as well.
Today, we will be taking a look at the list of the top 10 richest states in Nigeria.
List of the Top 10 Richest States in Nigeria
Taking into consideration of the Gross Domestic Profit (GDP) and Internally Generated Revenue (IGR), below is the list of the top richest States in Nigeria.
- Lagos state (GDP – $33,679 billion)
- Rivers state (GDP – $21,073 billion)
- Delta state (GDP – $16,749 billion)
- Oyo state (GDP – $16,121 billion)
- Imo state (GDP – $14,212 billion)
- Kano state (GDP – $12,393 billion)
- Edo state (GDP – $11,888 billion)
- Akwa Ibom state (GDP – $11,179 billion)
- Ogun state (GDP – $10,470 billion)
- Kaduna state (GDP – $10,334 billion)
10. Kaduna State (GDP – $10,334 billion)
The 10th richest State in Nigeria on our list is Kaduna State which is located in the Northern part of the country. With over 8.2 million people and 23 local government areas, Kaduna State generates a GDP rate of $10,334 billion annually
Most of this income is generated through the production of cotton and groundnut. Kaduna is highly known for these two resources as they distribute to other states and countries.
9. Ogun State (GDP – $10,470 billion)
The South-Western state is home to many large industries and manufacturing companies. Being one of the richest States in Nigeria, Ogun State is blessed with many mineral resources. This is including crude oil and cement raw materials. Thus, making Ogun State the largest cement-producing state in the Country.
Ogun State with a population of 4.1 million people generates over N65 billion IGR and $10,470 billion GDP annually. Check out the list of developed states in Nigeria.
8. Akwa Ibom state (GDP – $11,179 billion)
Akwa-Ibom state is known as one of the oil-producing States as well as one of the richest States in Nigeria. With over 5 million people living in Akwa-Ibom, the state is populated with a lot of oil companies like ExxonMobil.
Also, part of Akwa-Ibom revenues is gotten from tourism and people living in the state also indulge in farming and fishing. With a GDP rate of $11,179 billion is no doubt one of the Nigerian rich states.
7. Edo state ($11,888 billion)
No doubt, Edo State is one of the richest states in Nigeria with an IGR of N23 billion and a GDP of $11,888 billion. The historical city is one of the largest commercial hubs in the Country.
6. Kano State (GDP – $12,393 billion)
When it comes to business; retail and trading, Kano State is one of the best states to engage in. Being one of the richest States in Nigeria, the Northern state is known for the production of Skin and hides which are exported widely to other countries and states.
With a population of 13 million people, Kano State generates N30 billion IGR annually and a GDP rate of $12,393 billion. See the list of the top local airlines in Nigeria.
5. Imo State (GDP – $14,212 billion)
The 5th richest State on our list of top 10 richest States is the Imo State. The South-Eastern state is not only one of the top oil-producing states but also has a lot of companies.
Many top oil companies like Chevron, Agip, and Addax Petroleum can be found in the state. Also, apart from crude oil, Imo State is known for the production of palm oil as most farmers in Imo have Palm Plantations. Thus, Similar to another Nigerian rich state, Imo State generates a GDP rate of $14,212 billion annually.
4. Oyo state (GDP – $16,121 billion)
The next on our list is the state of the largest city in Africa. Oyo State which is its capital city is one of the richest states in Nigeria with a GDP rate of $16,121 billion annually.
The largest South-Western state is dominated by a lot of Agricultural activities. Because the state is blessed with a wide array of land as well as a good climate for farming.
It is safe to call Oyo State home to Farm as several Cash and food crops like millet, Cashew, Rice, Cocoa, and others are grown there. That explains the reason why food is relatively cheaper in Oyo State compare to some other states.
2. Rivers State (GDP – $21,073 billion)
There is no doubt, you would have heard of River state and its popular resources, oil, and natural gases. River State is a rich Nigerian state that generates most of its GDP and IGR from crude oil.
The Southern state which was established in 1967 generates a GDP rate of GDP $21,073 billion annually from oil deposits and natural gas. Port Harcourt which is the state capital is filled with a lot of top petrochemical companies.
With over 5.2 million people in Rivers State, it is the largest crude oil manufacturing city in Nigeria. Also, it contributes majorly to the growth of Nigeria as well as its foreign exchange. Check out the list of longest Rivers in Nigeria
1. Lagos State (GDP – $33,679 billion)
Living to its reputation, the megacity is currently the richest State in Nigeria. With a GDP rate of $33,679 billion, Lagos sits as the top richest State in Nigeria.
Despite being small in size, over 20 million people live in the state. Being one of the largest economic hubs in Africa, it has witnessed a lot of growth exponentially and virtually in all sectors. Check out the list of smallest states in Nigeria
Unlike all other richest States in Nigeria, Lagos State has lots of companies but with little or no resources as it depends on other states for food. Also, the buying power in this state is quite high with a lot of businesses in different sectors. See a list of places to buy cheap land in Lagos State
Final Thoughts on the Top Richest States in Nigeria
Even with the bad leadership and corruption faced by Nigeria, it is a country blessed with abundant resources and minerals. The result can be seen in the GDP rate and IGR generated by several states in the country.
Most of these states on our list of top richest states in Nigeria are capable of running the states without the allocation from the Federal Government. That is to tell you how rich the states and country as a whole is.