While some Nigerian states are languishing in abject poverty, some are generating massive revenues to put up many infrastructures and cater for the needs of their people. This article features the richest states in Nigeria based on GDP (Gross Domestic Product) and IGR (Internally Generated Revenues).
Richest States in Nigeria in 2022
Below are the top 10 states in Nigeria with the highest GDP (Gross Domestic Product) and IGR (Internally Generated Revenue)
1.) Lagos State
Lagos is currently the richest state in the country. It has remained like that for more than two decades now. Though the state is the smallest state in Nigeria by landmass, it is so wealthy that even the biggest state by surface area does not come close to it.
By city population, Lagos is the 6th largest city in the world. The city handles about 80% of the total imports in the country, generating huge amounts of money from that per year.
If Lagos were to be a country presently, it would be Africa’s 5th Largest economy. Its annual GDP is far more than that of several African nations combined.
When it comes to wealth, Lagos State is in a class of its own. Even without any allocation from the Federal Government the state can survive on its own with its GDP of $33.7 million US Dollars.
With a population of over 18 million people, the ranks among the wealthiest states in Nigeria. The state is located within the South-West geopolitical zone of Nigeria. It shares boundaries with Ogun State and the Republic of Benin.
Lagos is the economic capital of Nigeria. It is home to the top organisations and manufacturing firms in the country. Though not as big as other states, the revenue it generates far exceeds that of several states combined.
2.) Rivers State
Rivers is an oil-rich state. It is located within the Niger Delta region of Nigeria and shares boundaries with Imo, Abia, Anambra, Akwa Ibom, Bayelsa and Delta States.
River State is home to over 5 million people who are mainly Kalabari, Ogoni and Ikwere. Rivers has 2 major refineries, seaports, airports and several industrial estates.
Apart from oil, Rivers is also blessed with other mineral resources like clay, glass sand and silica sand. The capital and biggest city Port Harcourt is home to several oil exploration firms like Shell, Chevron, NNPC and so on.
River State generates an IGR of over N80 billion. Its GDP of $21 million makes them the second richest state in Nigeria.
3.) Delta State
This list of the wealthiest states in Nigeria will not be complete without a mention of Delta State. The state is one of the major oil-producing states in the country and has a GDP of $16.7 million UD Dollars.
Home to three major cities: Warri, Sapele and Asaba being the capital, the state generates what several states in Nigeria presently dream of.
Delta State shares boundaries with Anambra, Port Harcourt, Bayelsa and also Edo State. It is home to over 4 million people which includes the Igbo, Itsekiri, Olukumi, Isoko and so on.
4.) Ogun State
Ogun State is one of the states that generate the highest amount of money when it comes to IGR. The state generates up to N34.59 billion in a year. This plus their GDP of about $10.47 million puts them on this list.
Ogun State is located within the Southwestern part of the country. It has boundaries with Lagos, Oyo, Osun and Benin Republic. The state is home to over 4 million people who are predominantly Yoruba.
Ogun is also among the states with the highest number of tertiary institutions. It has produced large numbers of notable people in the society including the former president of the country, Chief Olusegun Obasanjo.
5.) Edo State
Edo state is mainly dominated by the Bini, Esan, Etsako and Owan ethnic groups. The state is an oil-producing state and among the wealthiest states in Nigeria.
Edo is known for its cultural heritage, agriculture and commerce. It is one of the states with the highest number of tourist attractions.
The state has produced so many notable persons in Nigeria including the late Archbishop Benson Idahosa, Pastor Chris Oyakhilome, Adams Oshiomole, Godwin Obaseki, Professor Ambrose Alli and so on.
Tourism is one major thing that fetches money for this state apart from oil. The IGR of over N19.11 billion and $11. 89 million GDP puts this state in the 5th position on this list.
6.) Enugu State
Located in the South-East geopolitical zone of Nigeria, this state is among Nigeria’s wealthiest states. As a matter of fact, Enugu state is the current richest state in the Southeastern part of the country, overtaking Anambra and Imo.
It was from Enugu that the British extended their reach to either part of the South East. The state got its name from the capital “Enugu” which is a short way of writing Enu Ugwu (meaning: Top of the Hill) in the Igbo Language.
The state is currently among the richest in the country. The internally generated revenue and the GDP puts them on this list.
7.) Oyo State
Oyo is one of the Yoruba-dominated states located in the southwestern part of the country. Home to over 5 million people, the state is among the wealthiest states in the country. The capital Ibadan is one of the largest cities in Africa by surface area.
The state has agriculture as the number one occupation of its people. The people are known for the cultivation of cocoa, cashew, cassava, maize, millet, yam, plantain etc.
Oyo state has several attraction centres which include a zoo, museum, national park etc. The state generates over N16.6 billion internally and has a GDP of over $16.12 billion, giving it a place on this list.
8.) Anambra State
A few years ago, Anambra state was ranked the top richest state in the South Eastern part of the country. It has since been overtaken by its neighbouring state, Enugu.
Anambra is home to the popular city of Onitsha, which is known for its market and rich cultural heritage. The state is rich in bauxite, crude oil, ceramics and natural.
Anambra is among the states with the lowest poverty rate in the country. 62% of its population lives in urban areas.
The state has 3 major cities: Awka (the capital), Onitsha (the commercial centre) and Nnewi (the home of automobiles in Nigeria).
In terms of internally generated revenue, the state’s N18.79 billion puts it on the list of the top richest in the country.
9.) Akwa Ibom
A few years ago, Akwa Ibom wouldn’t have been mentioned in this list. The discovery of oil and the great efforts of the governments that have been in place in this state lifted it. Today, Akwa Ibom has taken its place among the richest in the country.
The state is not only known for its production of oil but it is also known for its airport and airline, two major seaports, two ultramodern stadiums and an E-Library.
It is home to over 5 million people who are mainly of the Ibibio, Anaang, Eket, Obolo and Oron ethnic groups.
With a GDP of about $11.18 million and 1GR of about N14.79 billion, the state is among the top 10 richest Nigerian states in 2022.
10.) Kano State
Kano State is the economic capital of Northern Nigeria. It is the 2nd largest industrial centre in the country, trailing Lagos.
The city of Kano being the capital is known to be the home of several manufacturing companies that are into the production of textiles, cosmetics, ceramics, enamelware, plastics, pharmaceuticals, beverages, animal feeds and so much more.
Kano State is the highest in terms of population, following the results of the 2006 census conducted in the country.
The state is home mainly to Hausa ethnic group. The state’s present GDP of over $12.39 million puts it among the wealthiest states in Nigeria.
We have in this article discussed the richest states in Nigeria. Going by their internally Generated Revenue and GDP, these are Nigeria’s wealthiest states at the moment.