Are you Interested in knowing the top 10 Richest States in Nigeria?
First of all, you need to know that Nigeria is the richest country in Africa with a GDP of $514.05 Billion and without doubt, someday soon, it would be among richest countries in the world.
The Federal Republic of Nigeria consists of 36 states; and Abuja, popularly known as FCT Abuja is Nigeria’s Capital.
Gross Domestic Product figures are very important in determining the richest states in Nigeria as it is much like a state’s net worth.
Although the country allocates revenues to each states in Nigeria to satisfy each state’s needs but you need to know that it doesn’t necessarily matter in determining what the richest states are because states could gain wealth from its natural resources, mineral resources, tourist attraction centers, taxes and so much more.
The other way round, states receiving higher revenue allocations could also increase their chances of being wealthy, it mainly depends on how every source of funds is being utilized.
Watch out for the richest state in Nigeria 2023 and the remaining 9 that follows below.
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The Top 10 Richest States in Nigeria 2023 including their GDP
Below are the top 10 richest states in Nigeria with their (GDPs) Gross Domestic Products and it is enough to note that these states are also listed based on the internally generated revenue (IGR) within each states.
- 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)
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1. Lagos State – (GDP: $33.679 Billion)
The richest state in Nigeria is Lagos State with an estimated GDP of $33.679 Billion.
It is a state in the Southwestern Geopolitical Zone of Nigeria. It is the 2nd most populous state in Nigeria with a population of over 14 million people.
Lagos state has been regarded as one of the fastest growing cities in the world as its population rate keeps on increasing rapidly.
When talking about the major financial centers in Nigeria, it is impossible for Lagos state not to be mentioned because it features as a major financial hub in Africa. A city of Lagos is even the fourth richest city in Africa.
Lagos State is popular for its beaches which serves as constant attractions for the dwellers and visitors. The state capital of Lagos is Ikeja. It has a total land area of 3,577km2 which is about 1,381 square miles.
Lagos State is also called “Ipinle Eko” in Yoruba and a nickname for Lagos State is Las Gidi.
Lagos State lives up to its expensive name intent as money truly flows in Lagos, simply put, it’s filled with a lot of millionaires, billionaires, wealthy companies and industries; well, that’s the ridge of all the richest states in Nigeria for you. Lagos state is rich in clay and bitumen.
2. Rivers State – (GDP: $21.073 Billion)
Rivers State is the second richest state in Nigeria with a GDP of $21.073 Billion.
It is found in the Southern part of Nigeria, particularly, the South-South Geopolitical zone of Nigeria and it was created in 1967.
It has 23 Local Government Areas and its capital city is the city of Port Harcourt.
Rivers State has a total population of 5,185,400 people and has the fame of being the 5th most populous state in Nigeria.
The ethnic groups you would come across in Rivers State are; Abua, Andoni, Ekpeye, Engenni, Etche, Ibani, Ikwerre, Kalabari, Ogba; Egbema; Ndoni, Ogoni and Okrika.
It is the 26th largest state by area in Nigeria as it has a total area size of 4, 277 square miles.
Rivers State’s nickname is “the Treasure Base of the Nation” and it is regarded as the commercial hub for oil industry in Nigeria.
3. Delta State – (GDP: $16.749 Billion)
Delta State is one of the richest states in Nigeria with an estimated GDP of $16.749 Billion.
It is located in the South-South Geo-political zone of Nigeria and it is ranked the 9th most populous state in Nigeria with a population of about 5,663,400 people.
Delta State was created in August 27, 1991 and its total land area has been calculated to be about 6,833 square miles.
Asaba is the capital city of Delta state which is located near the western bank of River Niger.
Some of the natural resources of Delta State are; limestone, tar sand, silica, kaolin, industrial clay and many more.
Delta state is blessed with crude oil and it is one of the highest producers of Oil in Nigeria.
4. Oyo State – (GDP: $16.121 Billion)
Oyo State is the 4th richest state in Nigeria as its GDP has been estimated to be $16.121 Billion.
It is located in the Southwestern part of Nigeria and it is mainly predominated by the Yoruba people.
Oyo State is widely known in Nigeria as the first state to have a University in Nigeria, particularly the University of Ibadan located in Ibadan.
The state capital of Oyo is Ibadan, the largest state by area in Nigeria and the 3rd most populous city in Nigeria.
Oyo state was created on February 3, 1976 and it was nicknamed the “PACE SETTER STATE”.
Oyo State is the 5th most populous state in Nigeria and it has a total land area size of 10, 986 square miles. It has a citadel of learning listed as one of the top ten best universities in Nigeria
It involves actively in agricultural activities and most of its productions are Agricultural products like Yam, cassava, millet, corn, beans, fruits and other farm products.
5. Imo State – (GDP: $14.212 Billion)
On this list of the top 10 richest states in Nigeria, Imo State is ranked the 5th richest in Nigeria and its GPD is $14.212 Billion.
Imo State is located in the southeastern Geo-political zone of Nigeria and it was formed in 1976.
It is the 34th largest state by area in Nigeria with a total area size of 1,140 square miles. Also, Imo is the 13th most populous state in Nigeria as it has a population of 4,978,758 people.
It is mostly populated with the Igbos and the most common language native to it is the Igbo language.
Imo State is rich in crude oil, natural gas, zinc, lead, and calcium carbonate. The major production of Imo state is Oil and Gas.
6. Kano State – (GDP: $12.393 Billion)
Kano State is the most populous state in Nigeria with an estimated population of 20 million.
It is one of the top 10 richest states in Nigeria as its GDP has been calculated to be $12.393 Billion.
Kano State is located in the northern part of Nigeria and it was formed in 1967.
It has a total land area size of 7,773 square miles and it is the 20th largest state by area in Nigeria. Kano is the capital city of Kano state.
Kano state’s main production revolves around agriculture and produces crops like tomatoes, cassavas, potatoes, and other common crops.
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7. Edo State – (GDP: $11.888 Billion)
Among the richest states in Nigeria, Edo state takes on the 7th position and has a GDP of $11.888 Billion.
Edo state was formed in 1991 and it is located in the southern region of Nigeria.
The capital city of Edo State is Benin City, which is the 4th most populous city in Nigeria.
Edo state is nicknamed the Heart Beat of Nigeria. It has an area size of 6,873 square miles and a population of 3,233,366 people.
Some of Edo’s mineral resources are marble, gypsum, kaolin, quartzite, graphite, and Clay.
8. Akwa Ibom State – (GDP: $11.179 Billion)
Akwa Ibom State makes it to the list of 10 richest states in Nigeria and it is particularly ranked as the 8th richest state in Nigeria.
It is located in the southern part of Nigeria and is also among the states in the South-South Geo-political zone of Nigeria.
It was created on September 23, 1987, and its state capital city is Uyo.
The total area size of Akwa Ibom is 2,734 square miles while it ranks as the 30th largest state by area in Nigeria.
It is the 15th most populous state in Nigeria with a population of 5,450,758 people.
Akwa Ibom state resources are; natural gas, coal, limestone, salt, glass sand, clay, giver nitrate, and more.
No wonder it is among the richest states in Nigeria, Akwa Ibom is the 3rd largest petroleum producer in Nigeria.
9. Ogun State – (GDP: $10.470 Billion)
Nigeria’s 9th richest state is Ogun State with a GDP of $10.470 Billion.
Ogun State is located in the Southwestern area of Nigeria and it is populated with 3.7 million people. It got its name after Ogun River and it is geographically predominated by the Yoruba people.
It was formed out of the old western state in 1974. Ogun has a land area size of 6,556.23 square miles and the nickname “Gateway to Nigeria”.
You shouldn’t be surprised about Ogun state being listed among the richest states in Nigeria because it has the highest concentration of industries in Nigeria; talking of majority of the richest companies and industries in Nigeria like Dangote Cement, Nestle, Lafarge Cement, and many more.
Ogun State is also rich in bauxite, kaolin, quartz, feldspar, granite stone, gypsum, limestone other minerals.
10. Kaduna State – (GDP: $10.334 Billion)
The 10th richest among the richest states in Nigeria is Kaduna State as its GDP has been estimated to be $10.334 Billion.
It was created in 1967 and it is found in the north-central of Nigeria. A city called Kaduna which shares the same name as Kaduna state is the state capital of Kaduna State, Nigeria.
The state is the 4th most populous state in Nigeria with a population of 6,113,503 people based on the 2006 population census.
Hausas and Fulanis are widely found in this state and it is the 4th largest state by area in Nigeria with a total area size of 17,781 square miles.
Kaduna produces cash crops like ginger, peppers, cotton, groundnuts, and peanuts. Other crops include maize, corn, millet, tobacco, beans, and more.
Some of its natural resources are; gold, graphite, kyanite, sillimanite, serpentine, and amethyst.
It is worth knowing that the largest producer of Cotton in Nigeria is Kaduna State.
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(Summary) The 10 Richest States in Nigeria 2023
Many expect the Nigerian states receiving the highest federal revenue to be the wealthiest, but this isn’t always the case.
Each state has its unique revenue streams, such as oil and gas, cotton, or agriculture. The wealth accumulation depends on how these resources are utilized.
Did your state feature in the top 10 wealthiest Nigerian states? If not, don’t be disheartened. With time and progress, your state might make the cut in the future.
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