Nigeria is one of Africa's wealthiest nations due to its abundant natural resources, such as coal, tin, and iron ore. The richest states in Nigeria are the main drivers of wealth. They contribute to the country's sector in tourism, cultural heritage, and even education and intellectualism. But which states are these?
TABLE OF CONTENTS
- What are the top 10 richest state in Nigeria?
- Richest states in Nigeria with their sources of revenue
- 1. Lagos State - ₦41.17 trillion
- 2. River State - ₦7.96 trillion
- 3. Akwa Ibom State - ₦7.77 trillion
- 4. Imo State - ₦7.68 trillion
- 5. Delta State - ₦6.19 trillion
- 6. Anambra State - ₦5.14 trillion
- 7. Ondo State - ₦5.10 trillion
- 8. Ogun States - ₦5.03 trillion
- 9. Bayelsa State - ₦4.63 trillion
- 10. Niger State - ₦4.58 trillion
- Which part of Nigeria is the richest?
- Which Igbo state is the richest in Nigeria?
- Which state in Nigeria has the best economy?
- How rich is Abuja?
The ten rich states in Nigeria often have larger economies and developed infrastructure. The rankings consider factors such as the presence of major industries, contribution to the national GDP, and the abundance of natural resources.
What are the top 10 richest state in Nigeria?
| Rank | State | GDP |
| 1 | Lagos State | ₦41.17 trillion |
| 2 | River State | ₦7.96 trillion |
| 3 | Akwa Ibom State | ₦7.77 trillion |
| 4 | Imo State | ₦7.68 trillion |
| 5 | Delta States | ₦6.19 trillion |
| 6 | Anambra State | ₦5.14 trillion |
| 7 | Ondo State | ₦5.10 trillion |
| 8 | Ogun States | ₦5.03 trillion |
| 9 | Bayelsa State | ₦4.63 trillion |
| 10 | Niger State | ₦4.58 trillion |
Richest states in Nigeria with their sources of revenue
Some states in Nigeria are more prosperous than others. These states have large economies with developed infrastructure. But which part of Nigeria is the richest? Below is a list of the 10 richest states according to Buzz Nigeria:
1. Lagos State - ₦41.17 trillion
- Year of creation: 1967
- GDP: ₦41.17 trillion ($102.01 billion)
- Capital: Ikeja
- Main economic activity: Ports, oil refineries, automotive assembly, manufacturing, and processing
Lagos is a state in the southwestern part of Nigeria. It is one of the most populous cities in Nigeria, with an estimated population of over 20 million people. Lagos is also the state in Nigeria that makes the most money.
It is a major economic and cultural centre in Nigeria and home to a diverse population of people from different ethnic and religious backgrounds. Lagos is the home to many millionaires, including business owners, executives, and entrepreneurs.
Lagos independently produces half-year revenue in twelve figures of source of revenue. The major sources of revenue are the oil sector, manufacturing industry, trade, and tourism. Lagos State has a GDP of over ₦41.17 trillion ($102.01 billion).
2. River State - ₦7.96 trillion
- Year of creation: 1967
- GDP: ₦7.96 trillion ($19.72 billion)
- Capital: Port Harcourt
- Main economic activity: Crude oil extraction
Rivers State is a significant oil and gas-producing Niger Delta state. River State is located in the southern part of Nigeria. The sector contributes 44.6% of the state's gross domestic product, agriculture and computer technology, each contributing at least 10%.
It is the home headquarters of Nigeria Liquified Natural Gas Limited, which produces and exports natural gas. In addition to oil and gas, the fishing sector has contributed greatly to this richest state in southeast Nigeria.
3. Akwa Ibom State - ₦7.77 trillion
- Year of creation: 1987
- GDP: ₦7.77 trillion ($19.25 billion)
- Capital: Uyo
- Main economic activity: Mining and agriculture
Akwa Ibom State is the third richest state in Nigeria. Akwa Ibom State is located in southeastern Nigeria. It has a population of over 7 million people and is known for its rich cultural heritage and strong tradition of education and Intellectualism.
Akwa-Ibom State's primary products include palm oil, rubber, maize, cassava, yams, rice, and fishing. The state's source of revenue is from the oil and gas sector, which provides 59% of Akwa-Ibom State's GDP, and agriculture, which contributes 15% to the state's wealth.
Information and communications technology (ICT) and industry contribute a relatively modest 6% and 4% of GDP, respectively. The state is also ranked as one of the richest states in Nigeria due to the abundance of readily irrigated crops and fish industry.
4. Imo State - ₦7.68 trillion
- Year of creation: 1976
- GDP: ₦7.68 trillion ($19.02 billion)
- Capital: Owerri
- Economic activity: Industrial and mining
Imo State stands as the most affluent region in Southeastern Nigeria. Its economic prosperity stems from robust infrastructural growth, a multitude of manufacturing enterprises, and extensive reserves of zinc, crude oil, natural gas, limestone, sand, and white clay.
Imo State hosts major players in the oil industry, such as Royal Dutch Shell, Agip, and Chevron. Beyond its industrial prowess, Imo State boasts numerous tourist attractions and a vibrant cultural heritage. Economic pursuits encompass the production of crude oil, natural gas, and limestone.
5. Delta State - ₦6.19 trillion
- Year of creation: 1991
- GDP: ₦6.19 trillion ($15.33 billion)
- Capital: Asaba
- Major economic activity: Farming and mining
Delta is a state in the south geopolitical zone of Nigeria situated in the Niger Delta. The state's natural resources include oil and gas. Delta State is endowed with silica, lignite, kaolin, tar sand, gemstones, and limestone.
Delta State comprises ethnic groups, including the Urhobo people, Ukwuani, Ika, and Aniocha-Oshimili (Igbo). It is one of the richest states in Igbo land. The state's principal businesses include glass, textile, chemical, chalk, plastic, and rubber plants.
Besides fishing and farming, Aladja is home to a major steel manufacturing facility, the Delta Steel Company (DSC), controlled by Premium Steel and Mines Limited (PSML), that also provides revenue for the State.
6. Anambra State - ₦5.14 trillion
- Year of creation: 1991
- GDP: ₦5.14 trillion ($12.73 billion)
- Capital: Awka
- Major economic activity: Agriculture
Located in the Southern region of Nigeria, Anambra is the second smallest state, stretching across a mere 4,844 square kilometres. The state is named after the Anambra River, a major tributary of the Niger River that flows through the region.
The economy of Anambra State is diverse, with agriculture playing a significant role. The state is known for its production of crops such as yams, cassava, and vegetables. Trading and commerce are also vibrant in cities like Onitsha, which is a major commercial hub in Nigeria.
Anambra is also known for its vibrant culture, entrepreneurial spirit, and beautiful scenery. The state is home to a number of Igbo communities, and the Igbo language is widely spoken.
7. Ondo State - ₦5.10 trillion
- Year of creation: 1976
- GDP: ₦5.10 trillion ($12.63 billion)
- Capital: Akure
- Major economic activity: Agriculture
It is a state in southern Nigeria with a 15% oil-based economy. Ondo State has over 6 million people, a diverse economy, and a mix of agriculture, industry, and services sectors. It's the state that produces the most cocoa in the nation. Other crops include yams, rice maize, cassava, and coffee.
The state cultivates palm oil for export, while its traditional industries include pottery manufacturing, tailoring, carpentry, and blacksmithing. Asphalt mining and enterprises use the state's expansive coastline. All these services help to generate the state's revenue.
8. Ogun States - ₦5.03 trillion
- Year of creation: 1976
- GDP: ₦5.03 trillion ($12.46 billion)
- Capital: Abeokuta
- Major economic activity: Manufacturing and agricultural
Ogun State has a large concentration of industrial districts, establishing it as the third-richest State in Nigeria. It is regarded as "the Gateway State." Ogun State's mineral resources include limestone, chalk, phosphate, and clay.
The state's main revenue source includes cement mills, food processing facilities, breweries, plastics, rubber, aluminium, and paint manufacturing plants. It is one of the states where millionaires live in Nigeria.
The economic ministry of Ogun State produces rice, cassava, yam, plantains, cocoa, palm oil, tobacco, and cotton, contributing more than 40% of Ogun State's gross domestic product (GDP).
9. Bayelsa State - ₦4.63 trillion
- Year of creation: 1996
- GDP: ₦4.63 trillion ($11.47 billion)
- Capital: Yenagoa
- Major economic activity: Mining
Bayelsa State is a state located in the southern part of Nigeria. The state is situated in the Niger Delta region, which is known for its rich oil and gas resources. Bayelsa State is one of the oil-producing states in Nigeria, contributing to the country's oil wealth.
The economy of Bayelsa State is largely dependent on oil and gas activities, and the state is home to various oil and gas companies. It is also known for its unique topography with creeks, rivers, and swamps, which contribute to the diversity of its ecosystem.
10. Niger State - ₦4.58 trillion
- Year of creation: 1976
- GDP: ₦4.58 trillion ($11.34 billion)
- Capital: Minna
- Major economic activity: Agriculture
Niger State is named after the Niger River, which forms part of its western border. Niger State is characterized by a diverse geographical landscape, including plains, rivers, and mountains. The River Niger and its tributaries run through the state, contributing to its agricultural potential.
The economy of Niger State is primarily cultivation, with agriculture being the mainstay of the majority of the population. The state is known for the cultivation of crops such as millet, sorghum, rice, and yams. Livestock farming also plays a significant role in the economy.
Which part of Nigeria is the richest?
The South West zone is considered the richest with states such as Ekiti, Lagos, Ogun, Ondo, Osun, and Oyo.
Which Igbo state is the richest in Nigeria?
Delta States is regarded as one of the richest states in Igbo land. It has a GDP of ₦6.19 trillion. Delta State is made up of different ethnic groups with Igbos being the major subtribe.
Which state in Nigeria has the best economy?
Lagos State is widely considered the state with the strongest and most diversified economy in Nigeria. The state's economy benefits from its strategic location, infrastructure, and active seaports.
How rich is Abuja?
Being the capital, Abuja has a mix of government offices, diplomatic missions, and commercial activities. It is considered one of the more developed cities in Nigeria.
The richest states in Nigeria have greatly contributed to the country's overall wealth and economic development. Each state has unique strengths and resources that continuously drive Nigeria's wealth.
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