Richest States In Nigeria Hello, touristers!
Now we all know that Nigeria is known for a lot of things, be it in entertainment, cuisine,
business, and even hospitality coupled with corruption and mega billionaires, right?
But no one can deny the fact that this country is vehemently blessed with tons of minerals
and human resources that ought to make her one of the most powerful countries in the
world.
And of course, we are aware of the fact that the country is faced with leadership issues
that came with mismanagement, embezzlement, and corruption.
However, there are still wealthy states in Nigeria that can almost survive without allocation
from the ill-managed federal government.
Heck, some of these states have a higher GDP than most African countries.
Nigeria is made up of 36 states, with every single one of these states’ locals feeling
entitled for some reason.
You can perfectly understand this if you’re Nigerian.
And if you aren’t Nigerian, then let’s just say Nigerians feel particularly proud
of their heritage and they make no error in making that known to basically everything
that lives and breathes.
Despite all the autonomy these states enjoy, according to the law of the land or federal
law, the Federal Government is in control of the mineral resources everywhere.
This means the states must depend on the Federal Government for a lot of things, as far as
finance is concerned.
Nevertheless, there are certain Nigerian States that have been able to put in place structures
that bring a lot of money into the pocket of the State Government.
Because of the amazing success of some of these states at doing exactly this, we deemed
it necessary to bring their success to the limelight.
So without further ado let’s get this.
Today we are going to put together a list of the richest states in Nigeria based on
their internally generated revenue.
Here are the top ten richest States In Nigeria.
At number ten we’ve got Kaduna state: Kaduna state was created in 1967 and it has
since risen to become a significant metropolis within the north of Nigeria.
Agriculture is the major sector in the state and this has contributed largely to the economy
and wealth of the state.
These agro products are cultivated, harvested, and distributed across from its myriad of
mechanized farms.
The state also has a branch of the Nigerian Stock Exchange and it has a GDP of over 10
billion dollars.
Number nine, Ogun State: Ogun state is known for its high concentration
of manufacturing companies.
Ogun state makes our list as one of the richest states in Nigeria.
The state also boasts of a high number of universities.
the state has so many industries and companies based there including the likes of Lafarge,
proctor, and gamble, and Dangote.
The current GDP of the state is 10.47 billion dollars.
Number eight, Akwa Ibom state: Akwa Ibom state is located along the coast
of the niger delta and this state is also known as an oil-producing state in fact one
of the most prominent oil companies in the world.
Exxon Mobil is located in this state.
The capital of Akwa Ibom is Uyo a bustling town that has evolved from being a low-class
town to a city of national relevance with several unique lands.
Akwa Ibom has a GDP of 11.479 billion dollars.
Number seven, Edo state: Edo State is a historical city with the Benin
empire being an influential settlement in Africa.
Currently, Benin remains an economic and commercial hub and the city is quite congested with an
ever-growing population.
Edo state has an internally generated revenue of 23 billion Naira and a GDP of 11.8 billion
dollars.
Number six, kano State: Kano State is one of the major commercial
centers in the northern part of Nigeria, the state is an economic powerhouse and also has
a large population which is only superseded by the Lagos state.
The state is involved in textile, leather, and cotton production.
Also are a whole host of modern infrastructure and markets in this state.
The annual internally generated revenue by the state is put at 30 billion Naira and the
GDP of kano is estimated at 12.39 billion dollars.
Number five, Imo state: Imo state is located in the southeast and it is also one of the
oil-producing states in the country.
There are over 160 wells in the state and some of the oil companies located in the state
include the likes of addax petroleum, Agip, and chevron.
The state is also involved in the production of palm oil and there are several palm plantations
in the state.
Imo state has a GDP of 14.21 billion dollars.
Number four, Oyo state: Oyo state is located in southwest Nigeria.
It is one of the largest states in the country.
In fact, Ibadan, which is the capital of Oyo state is said to be the largest city in West
Africa.
The agricultural activities in Oyo are responsible for most of its wealth.
The state is an agricultural hub with a vast area of land available for mechanized farming.
The climate in the state favors the cultivation of the likes of millet, rice, cashew, cocoa,
and other cash crops.
The state is also known to have a large population as it shares its borders with Lagos and there
is a spillover of some residents from the megacity.
Oyo state has a GDP of 16.1 billion dollars.
Number three, Delta state: Delta State is one of the oil-producing states
in the country and this state became one of the richest states in the country.
The state is known as the big heart and it has two major cities, Warri and Asaba.
Warri is the industrial and commercial hub of the state.
You will find many multinational oil companies and offshore oil platforms in the state.
The state also has the annex government house.
On the other hand, Asaba is the political and administrative capital of the state.
it is also where the government house is located.
Delta state has an annual internally generated revenue of 44 billion Naira and a GDP of 16.7
billion dollars.
Number two, Rivers state: The history of Rivers state dates back to
1967 when it was created out of the old eastern region.
The slogan of rivers state is the “treasure base of the nation” and this phrase is quite
apt as the state has numerous oil reserves.
It is important to note that oil was initially discovered in Nigeria at Oloibiri which was
formally located in Rivers state before being cut out as part of Bayelsa.
Since the discovery of oil in Oloibiri, the oil sector has grown over the years to become
Nigeria's most successful sector.
Aliko Dangote’s oil refinery is also located in rivers state and it is said to be the largest
oil refinery in the world.
Currently, oil accounts for 90% of Nigeria’s foreign exchange and 80% of Nigeria's budgetary
revenues.
The state’s capital, Port Harcourt is an oil and gas hub and has a high concentration
of oil companies.
The state has an annual internally generated revenue of 85 billion Naira and a GDP of 21
billion dollars.
At Number one we have a no-brainer, you guessed it…
It’s Lagos state.
Lagos state not only has the highest GDP in the country but it also has a higher GDP than
42 African countries combined.
The state alone is the 5th largest economy in Africa and with an annual internally generated
revenue of over 300 billion Naira.
It boasts of an internally generated revenue greater than 30 of Nigeria's 36 states combined.
Lagos state is truly the mother of all states.
It has an estimated GDP of 33 billion dollars.
Nigeria is truly the land of opportunity and as clearly seen there are so many avenues
for growth the most potent being in agriculture and oil which already accounts for a lot of
Nigeria’s economic proficiency and even though the world is going in the direction
of renewables, Nigeria still could have a say in the oil market as it’s seen the last
decades of its era.
But rest assured there is not going to be any shortage of oil in the near future as
Aliko Dangote, Africa’s wealthiest man and the wealthiest black man in the world is building
the biggest oil refinery the world has ever seen.
Geared to produce 3 billion standard cubic feet of gas a day.
Further solidifying Nigeria's place as the largest superpower in Africa.
If you enjoyed watching this video please leave a like and also a comment down below.
If you aren’t subscribed to our channel then we would appreciate it if you would hit
the subscribe button as well and turn on the notification bell so you can be regularly
updated on our future content.
Thanks for watching and see you in another edition.