Top 20 Richest states in Nigeria
To find the answer to the question "Which is the richest state in Nigeria?" You have to look at the GDP. Gross domestic product is the final market price of all goods and services produced.
Nigeria is a country vehemently endowed with tons of minerals and human resources that should make it one of the most powerful countries in the world. Of course, we are aware that this same country faces leadership problems that stem from mismanagement.
However, there are still wealthy states in Nigeria that can almost survive without a federal government assignment. Nigeria currently has 36 states, and under the country's law, the federal government controls mineral resources everywhere.
This meant that states had to depend on the federal government for many things, as far as finances were concerned. However, some Nigerian states have been able to put in place structures that put a lot of money in the pockets of the state government. Let's take a look at the top 20 richest states in Nigeria.
What is the richest state in Nigeria?
Here is the list of the richest states in Nigeria.
1. Lagos - $102.01 Billion
Lagos State tops the list of Nigeria's 10 richest states. It is also the most developed state in Nigeria. It is located in the southwest region. It covers 3,577 square kilometers and its GDP is $ 102.01 billion(₦41.17 trillion).
Lagos State is arguably the most economically important state in the country, which contains Lagos, the country's largest urban area. It is a major financial center and it would be Africa's fifth-largest economy if it were a country. It is the richest state in Nigeria.
One of the major drivers of its revenue generation is that the most active major seaports in the country are situated in Lagos.
2. Rivers - $19.27 Billion
It is one of the richest states in Nigeria. It covers an area of 11,077 square kilometers. The population of Rivers is 5.2 million and its GDP is $ 19.72 billion(₦7.96 trillion). The region is rich in vast reserves of natural gas and crude oil.
Interestingly, Rivers State received 172 billion Naira as a FAAC allocation in 2018, making it the third state with the highest FAAC allocation that year.
Over 60% of Nigeria's crude oil production. In addition, Rivers is also home to Port Harcourt.
3. Akwa Ibom - $19.25 Billion
Akwa Ibom is located in the south of the country. Its total population is 5.5 million people. The region is home to the world-class information center: the Ibom Library. The main ethnic groups in Akwa Ibom are Ibibio, Annang, Oron, Eket, and Obolo. Its GDP is $ 19.25 billion(₦7.77 trillion). Akwa Ibom is the eighth richest state in Nigeria.
4. Imo - $19.02 Billion
Imo is located in the South-East of Nigeria. Its GDP is $19.02 billion(₦7.68 trillion). 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,
5. Delta - $15.33 Billion
Delta is located in the Southern region of Nigeria. The total population of the region is 4.1 million people. Its GDP is $15.33 billion(₦6.19 trillion). It is rich in natural resources, such as limestone, decorative rocks, tar sands, kaolin, lignite, silica, and industrial clay. Delta also has one of Nigeria's largest deposits of crude oil and natural gas. It is the third richest state in Nigeria.
In addition, a federal high court in Abuja has instructed the federal government to pay an accrued revenue of $1.638 billion to the state in 2021.
6. Anambra - $12.73 Billion
Anambra is located in the South-Eastern region of the country. It covers an area of around 4,844 square kilometers, making it the second smallest state in the country after Lagos. The indigenous and dominant ethnic group in Anambra is the Igbo. Its GDP is $12.73 billion(₦5.14 trillion). Anambra is wealthy in oil and gas resources and it is one of the richest states in Nigeria.
7. Ondo - $12.63 Billion
Ondo is located in the south-eastern part of the country and covers an area of 15,500 square kilometers. Ondo's total population is 3,500,000 and its GDP is $12.63 billion(₦5.10 trillion), making it the thirteenth richest state in Nigeria. There are many ethnic groups in Ondo, such as Owo, Ondo, Ilaje, Oktipupa, Akure, and Akoko.
8. Ogun - $12.46 Billion
Ogun is located in the southwest region of the nation. The total population is around four million people. The region is known for a high concentration of factories, such as Procter and Gamble in Agbara, Coleman Cables in Arepo, Lafarge Cement in Ewekoro, Cemento Dangote in Ibese. Its GDP is $12.46 billion(₦5.03 trillion), making it one of the richest states in Nigeria.
9. Bayelsa - $11.47 Billion
Bayelsa has a GDP of $11.47 billion(₦4.63 trillion).
10. Niger - $11.34 Billion
Niger is located in Northern Nigeria and is considered the largest state in the country. It covers an area of 76,363 square kilometers. It is one of the richest states in Nigeria with a total regional GDP of $11.34 billion(₦4.58 trillion).
However, it is not the most populous state in the country. The total population is around 4,000,000 people. It has two large hydroelectric power stations, the Shiroro dam, and the Kainji dam.
11. Kaduna - $10.67 Billion
Kaduna is located in the north-central part of the country. Its total population is 6.1 million people. Kaduna is one of the most multicultural states in the country with over sixty different ethnic groups living here.
Its GDP is $10.67 billion(₦4.31 trillion), making it the tenth richest state in Nigeria. Most of the economically active population works in the agricultural sector.
12. Benue - $10.58 Billion
Benue is located in the South-East of the country. It covers an area of approximately 34,059 square kilometers. Benue's total GDP is $10.58 billion(₦4.27 trillion). The total population is approximately 4,500,000 people. Benue is rich in agricultural resources. These facts are why it is one of the richest states in Nigeria.
It claims to be the country's food basket. It produces coconut, sesame, millet, sorghum, soybeans, corn, potatoes, cassava, beans, rice, and yams. The economy of the region depends on the agricultural sector. About 80% of the population of Benue is engaged in agriculture.
13. Kano - $10.40 Billion
The estimated population of Kano is around 11 million people with a GDP of $ 10.40 billion(₦4.20 trillion), making it one of the richest states in Nigeria. Kano is a major producer of hides and skins. It also produces chili, gum arabic, garlic, cotton, soybeans, and sesame. It is the second largest city in Nigeria after Lagos, with over four million residents dwelling within 449 km2 (173 sq mi); located in the Sahel, south of the Sahara, Kano is an essential route of the trans-Saharan trade.
14. Cross River - $10.08 Billion
Cross River is located in the southeastern part of the country. It borders Cameroon to the east. The total population is around four million people. The Cross River is made up of three major ethnic groups: the Bekwarra, the Ejagham, and the Efik. Its GDP is $10.08 billion(₦4.07 trillion), making Cross Rivers the eleventh richest state in Nigeria.
15. Edo - $9.88 Billion
The capital of Edo is Benin City, which is located in the southern region of Nigeria. The total population of Edo is 3.5 million people with a GDP of $9.88 billion(₦3.99 trillion), making Edo one of the richest states in Nigeria. Edo is famous for its tourist attractions, such as the Emotan Statue in Benin City or the Niger River and Lake Ise Beach in Agenebode.
It is a large state with rich human and natural resources.
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16. Kogi - $9.14 Billion
Kogi has a GDP of $9.14 billion(₦3.69 trillion).
17. Oyo - $9.11 Billion
Oyo is located in the South-Western region of Nigeria. It is one of the 20 richest states in Nigeria. The total population of Oyo is around six million people. Its GDP is $9.11 billion(₦3.68 trillion). Most of the economically active population works in the agricultural sector. Oyo produces cashews, palm oil, cocoa, plantains, rice, millet, cassava, yams, and corn. It is the fourth richest state in Nigeria.
18. Abia - $8.74 Billion
Abia is located in the southern part of the country. It covers an area of approximately 6,320 square kilometers. The total population of the region is 3,000,000 people. Abia is rich in oil and gas production, which contributes over 40% of its GDP.
There are over 100 oil wells in Abia producing 36,000 barrels of crude oil per day. Its total GDP is $8.74 billion(₦3.53 trillion), making it one of the richest states in Nigeria.
19. Katsina - $8.22 Billion
The dominant religion of Katsina is Islam. Katsina's total GDP is $8.22 billion(₦3.32 trillion) and one of the richest states in Nigeria. Katsina is located in the North-West region of the country. It is one of the smallest states in Nigeria covering an area of approximately 24,192 square kilometers. The total population of Katsina is 6,500,000, the largest ethnic group being the Hausa.
20. Sokoto - $7.06 Billion
The seat of the Sultan has a GDP of $7.06 billion(₦2.85 trillion).
Conclusion Of Richest States In Nigeria
This list of the richest states in Nigeria shows how wealthy Nigeria is and the potential to grow to a global economic force is visible.
That's all folks.
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