Nigeria is a nation that is incredibly endowed with human and mineral resources, which should make it one of the world’s most powerful nations. Of course, we are aware that mismanagement has led to leadership issues in the same nation.
Nevertheless, there are still affluent states in Nigeria that can essentially subsist without assistance from the federal government. Nigeria currently has 36 states, and by national law, all mineral resources are under the control of the federal government.
As far as finances were concerned, this meant that states had to rely on the federal government for many things. However, some governments in Nigeria have been able to set up systems that bring in a lot of revenue for the state government.
Which Nigerian state is the richest?
Here is a list of Nigeria’s richest states.
1. Lagos – $33.68 Billion
The list of Nigeria’s 10 richest states is headed by Lagos State. Additionally, it is Nigeria’s most developed state. It’s in the southwest part of the country. It has a 3,577 square kilometer area and a $33.6 billion GDP.
The largest urban center in the nation, Lagos, is located in Lagos State, which is perhaps the most economically significant state in the nation. It is a significant financial hub and, if it were a nation, would have Africa’s fifth-largest economy. It is Nigeria’s richest state.
The fact that Lagos is home to the nation’s busiest seaports is one of the key factors in its revenue generation.
2. Rivers – $21.17 Billion
It is one of Nigeria’s wealthiest states. There are 11,077 square kilometers of it. Rivers has 5.2 million residents and a $ 21.17 billion GDP. The area has rich natural gas and crude oil reserves.
Of interest, Rivers State had the third-highest FAAC allocation in 2018 with 172 billion Naira, coming in at third place overall.
More over 60% of Nigeria’s oil production is crude. Port Harcourt is located in Rivers as well.
3. Delta – $16.75 Billion
Delta is situated in Nigeria’s southern region. There are 4.1 million people living in the area as a whole. It has a 16.75 billion dollar GDP. Natural resources such limestone, ornamental rocks, tar sands, kaolin, lignite, silica, and industrial clay are abundant in this area. One of Nigeria’s greatest reserves of natural gas and crude oil is located in Delta. It is Nigeria’s third-richest state.
A federal high court in Abuja also ordered the federal government to give the state $1.638 billion in accrued income in 2021.
4. Oyo – $16.12 Billion
Nigeria’s South-Western region includes Oyo. It is one of Nigeria’s top 20 richest states. Oyo has a population of about six million people overall. It has a 16.12 billion dollar GDP. The majority of those who are economically active are employed in the agricultural industry. Cashews, palm oil, cocoa, plantains, rice, millet, cassava, yams, and corn are all produced in Oyo. It is Nigeria’s fourth-richest state.
5. Imo – $14.21 Billion
Imo is located in the South-East of Nigeria. Its GDP is $ 14.21 billion. Imo is rich in natural resources, such as zinc, natural gas, crude oil, lead, limestone, fine sand, and white clay. There are over 163 oil wells in Imo. The main oil companies in the region are Agip, Royal Dutch Shell, Chevron Corporation, and Addax Petroleum. These are the major reasons Imo is the fifth richest state in Nigeria.
Agriculture is the major occupation of the residents of the state, crops such as Yam, Cassava,
6. Kano – $12.39 Billion
Kano is one of the richest states in Nigeria with an estimated population of 11 million and a GDP of $12,39 billion. Kano is a significant producer of skins and hides. In addition, it produces cotton, soybeans, sesame, cotton gum arabic, garlic, and chili. With more than four million people residing within a 449 km2 (173 sq mi) area, Kano is the second-largest city in Nigeria after Lagos. Located in the Sahel, south of the Sahara, Kano is a crucial trans-Saharan trade route.
7. Edo – $11.89 Billion
Benin City, in the southern part of Nigeria, serves as the city of Edo. With 3.5 million inhabitants and a GDP of $11.9 billion, Edo is one of the wealthiest states in Nigeria. The Niger River and Lake Ise Beach in Agenebode, as well as the Emotan Statue in Benin City, are just a few of Edo’s well-known tourist destinations.
It is a sizable state with abundant natural and human resources.
8. Akwa Ibom – $11 billion
The country’s southern region is where Akwa Ibom is situated. There are 5.5 million individuals living there. The Ibom Library, a top-notch information hub, is located in the area. Ibibio, Annang, Oron, Eket, and Obolo are the major ethnic groups in Akwa Ibom. It has a $11 billion GDP. The eighth wealthiest state in Nigeria is Akwa Ibom.
9. Ogun – $11 Billion
Ogun is situated in the country’s southwest. There are about four million people living there in total. A significant number of factories, including Procter & Gamble in Agbara, Coleman Cables in Arepo, Lafarge Cement in Ewekoro, and Cemento Dangote in Ibese, are located in the area. With a GDP of $11 billion, it is one of the wealthiest states in the world.
10. Kaduna – $10.33 Billion
Kaduna is situated in the nation’s north central region. There are 6.1 million people living there. With more than sixty different ethnic groups residing here, Kaduna is one of the most cosmopolitan states in the nation.
With a GDP of $10.33 billion, it ranks as Nigeria’s tenth-richest state. The majority of those who are economically active are employed in the agricultural industry.