There are 774 local governments areas in Nigeria spread across the 36 states of the federation. Some of them are considerably rich, while there are many of them that only depend on the state government to finance them.
Those that are rich among them are those that have one or two resources or other sources of income coming from their areas.
What are the factors responsible for the wealth of many of these local governments? Their wealth is based on collection of taxes/fees from individuals and companies operating in the local government the government and provision of transportation to the residents of the local governments by the government
It also borders around establishment and regulation of parks, markets, and all the public conveniences and this turned these places to source of income for the government, birth, marriage and deaths official registration by residents of the local government
Also, their riches are based on recommendations for State economy and this helps bring in more money to the coffers of the local government, control of advertising by the various businesses that are operating in the local government. These local government also make money by licensing of various vehicles that are plying the roads of the local government and this concerns both private and commercial vehicles, construction of roads and other facilities and these helps to bring in more investment into the local government towards increasing revenue generation in such local governments, and assessment of private houses and commercial buildings by the local government.
How did we arrive at the rating provided below? We consider some very important factors about the state and its residents. The riches of these local governments are based on the factors are highlighted below:
- Income: we rate the local governments according to how much money they are able to make from the resources and companies operating in them. It’s possible to say which region is more stable economically by looking at these resources and industries in them. However, it’s not the only issue that is taken into account in arriving at our conclusions about these local governments.
- Pension amount: The amount being paid the pensionable individuals in the local governments is yet another factor used in determining the richest ones among them. It’s also important how the older generation lives and what opportunities they have in life.
- Levels of education: Level of education of the individuals residing in these local governments is also put into consideration. There are areas, which have more access to it, while for the others it might be a problem.
- Employment rate: Rate of employment of the area also gives an insight into how rich or poor such an area is. If there exist a problem of unemployment (and it is urgent), it will always influence the region’s wealth in a negative way.
- Public services: the number of public services available in an area is yet another factor used to determine how rich or otherwise the people of such areas are The more people have access to such services as health care, transportation, housing, electricity, gas, and water, the better the situation is. There are areas, where people are starving and can’t get clear water at all.
- Resources. In the real sense, this should be top on the list of factors considered. Each area is rich in a certain type of them. However, not all the local governments are ever tapping their community’s commonwealth, The more of them it has the wealthier the territory is. Rare resources might be also taken into account.
Below, you will have the opportunity to learn about the richest local government areas in Nigeria.
This is the most prosperous local government area in Nigeria. The local government is situated in River State, which has Port Harcourt as its capital. Most of the wealth of the Nigerian nation comes from this local government. It is one of the major cities of the Niger Delta region.
It has a total area of over 250 sq. km and also has up to 880,000 people living in it. The local government is divided into 7 different wards. They have natural gas and oil in abundance in this local government and the residents are also involved in agriculture.
Ikeja local government is the second richest local government in Nigeria. The local government is situated in Lagos State, the former federal capital of Nigeria. Ikeja is also the capital city of Lagos.
The city is a commercial town. It has many reservations areas and departmental stores, which all contribute a great deal to its wealth. Ikeja also has an international airport, which further increases its influence and wealth. The largest mall in Lagos state is located at Ikeja. Other sources of wealth of Ikeja are water, wood, coal and natural gas.
Kurmi is the third richest local government in Nigeria. The local government is situated in Taraba state, whose capital is Jalingo. The local government has very fertile land and this makes agricultural opportunity abound there.
The residents of this local government are involved in growing items like cocoa, oranges, banana, and rice and so on. Most of the residents are farmers. They are the ones producing the largest quantity of food in Nigeria today. Also, they are involved in crop exportation to generate foreign exchange.
This is the fourth richest local government areas in Nigeria today. The local government is situated in Edo State, whose capital city is Benin.
The local government is more concerned with agriculture. Aside from agriculture, the residents of this town are equally involved in various industries. The local government has many hospitals, factories, and hotels that generate income.
This is the 5th richest local government area in Nigeria. The local government is situated in Akwa Ibom State, whose capital is Uyo. This local government is seen as many as the richest local government in oil production. Aside from oil production, the people of the local government are equally involved in agriculture and crafting.
If you are looking for the most peaceful territory in the eastern part of Nigerian, Etinan Local Government is the place to visit. The people are also welcoming and they are highly industrious. They are not famous for oil production or agriculture; they are more famous for their crafting skills.