Nigeria is blessed with diverse natural resources. In the last 50 years, the most important of these assets has been crude oil.
However, the wealth of some of the richest states in the nation goes beyond crude oil.
Richest States in Nigeria (Based on Internally Generated Revenue)
These wealthy states have been able to leverage their various assets to generate revenue. Some of them have generated revenue from crude oil while others have employed options like agriculture and tourism.
In this post, we’ll discover the top 10 richest states in the country as well as their source of wealth.
#1 Lagos State
Lagos is the richest state in the country. In 2016, the state had an internal generated revenue (IGR) of N268 billion.
Also, Lagos state has a total GDP of $33.6 billion and per capita of $4,333. The state is said to be the fifth largest economic centre in the whole of Africa.
Interestingly, the state is one of the smallest in the country with a land mass of 3.577 square kilometres.
Lagos is home to many financial institutions and headquarters. The state also has a strong drive towards taxation which has boosted its internally generated revenue significantly.
#2 Rivers State
Rivers is the second richest state in the country with an IGR of over N80 billion in 2016. This is particularly due to its vast reserves of natural gas and crude oil. Over 50% of Nigeria’s crude oil output emanates from River States
The state has a GDP of $21 billion and a per capita of $3,965. Many of the major oil and gas companies in the country such as Shell, Chevron, Total, Oando etc are located in Port Harcourt which is the administrative capital of Rivers State.
The population of Rivers is estimated at 5.2 million and the land area is approximately 11.077 square kilometres.
#3 Delta State
Delta State is another oil producing state that is also ranked highly on the country’s wealth scale. The state generated N40.8 billion in 2016 making it the third richest state in the country.
Currently, Delta has one of the largest deposits of crude oil and natural gas in the country.
The state’s GDP is $16.75 billion with a per capita of $3,990. Located at the South region of Nigeria, the state covers a territory of 17.698 square kilometres. There are over 4 million people currently leaving in Delta State
Delta is rich in natural resources like limestone, decorative rocks, tar sand, kaolin, lignite, silica and industrial clay.
#4 Ogun state
Located in the South Western part of Nigeria, Ogun state is one of the richest states based on IGR.
The state is home to several manufacturing plants of companies like Procter and Gamble in Agbara, Coleman Cables in Arepo, Lafarage Cement in Ewekoro, Dangote Cement in Ibese.
The state generated N34.59 billion in 2016 and currently has a GDP of $10.47 billion and a per capita of $2,744.
Ogun State has over 4 million residents and a land area of 16.980 square kilometres.
#5 Edo state
In 2016, Edo state generated N19.11 billion and the state currently has a GDP of $11.88 billion and a per capita of $3.623, Edo state is one of the richest states in Nigeria. The state covers a territory over 17.802 square kilometres and there are currently over 3 million people living in the state.
Edo state is famous for its tourist attractions which include the Emotan Statue in Benin City, the River Niger Beach as well as the Ise Lake in Aghenebode.
#6 Enugu state
Enugu generated over N18 billion in 2016. This makes Enugu the richest state from the South Eastern part of the country.
The state was created from Anambra state in 1991. The GDP of the state is $4.3 billion
#7 Oyo state
Oyo State is another state that has done well in terms of internally generated revenue. The state generated N16.6 billion in 2016.
Also, Oyo has a GDP $16.12 billion and a per capita of $2,666. The state has a population of over 6 million people. A significant part of the working class population in this state is involved in agriculture. Some of the produce from this state include: cashew, palm oil, cocoa, plantains, rice, millet, cassava, yam and maize. These products are exported to other states as well as exported to foreign countries.
Oyo State is located in South West region of Nigeria and it covers a land area of 28.454 square kilometres. There are over 12 million people living in Oyo state.
#8 Anambra state
Anambra state is well known for its industrious spirit. Places like Nnewi and Onitsha have consistently produced multimillionaires and billionaires. Examples are Cosmas Maduka, Prince Arthur Eze, Emeka Offor, Innocent Chukwuma, Ifeanyi Uba and many more.
In 2016, Anambra state generated N14.79 billion in IGR making it the 8th richest state in the country
#9 Akwa Ibom state
Akwa Ibom State is also one of the richest states in the country. The state is an oil producing state and in 2016, it generated N14.79 billion in IGR.
Additionally, Akwa Ibom has a GDP of $11.17 billion with a per capita of $2,779. The state is located in the southern part of Nigeria. Akwa Ibom is located along the coastal area and the state has a territory of 7.081 square kilometres.
The total population of the state is 5.5 million people and the state is known for its diversity of ethnic groups which include Ibibio, Annang, Oron, Eket and Obolo.
The state also has the word class information centre, the Ibom E-library.
#10 Kano State
Kano State is located in the North western part of Nigeria. The state generated N13.6 billion in 2016. The GDP of the state is $12.39 billion with a per capita of $1,288.
According to the Nigerian Bureau of Statistics, Kano is the most populated state in Nigeria with a population of over 13 million as at 2016.
Kano is a major producer of hides and skin. Some of their other products include chilli pepper, gum Arabic, garlic, cotton, soybean and sesame.