10 Richest Local Government Areas in Nigeria (2024)

Nigeria has 774 local government areas and each local government is endowed with natural resources that contribute to the nation’s economy.

As the adage goes, “All fingers are not equal”, so are all these local governments unequal in terms of economic and financial power. While one local government may be strong in one sector, another local government may fail, but succeed in another.

richest lga in nigeria

Richest Local Government Areas (LGAs) in Nigeria in 2024

Overall, certain local governments contribute substantially to the revenue of Nigeria, and they also boast robust infrastructure, quality healthcare and education, and several amenities. These are the categories of local government I will focus on in this article, in particular the top 10.

Keep reading if you’re interested in finding the top 10 wealthiest LGAs in Nigeria.

1. Lagos Island Local Government Area

With a population of over 200,000, Lagos Island, also called Isale Eko, is the richest

LGA in Nigeria. The western portion of Lagos Island is occupied by the Lagos Island LGA whereas the eastern portion is known as Lagos Island East LCDA.

Before Ikeja became the capital in 1957, Lagos Island served as the capital of Lagos State. Lagos Island remains the wealthiest and most powerful LGA in Lagos notwithstanding the change.

This LGA is home to several prestigious institutions, notably the headquarters of major Nigerian banks including UBA, WEMA, Central Bank of Nigeria, etc. The well-known Balogun and Idumota markets, which are situated to the east of Lagos Island, are another source of internal income for the LGA.

Lagos Island has many important landmarks, despite the area’s inadequate housing infrastructure and heavy traffic. Among these are the Nigerian Ports Authority headquarters, Bookshop House, the Cathedral Church of Christ, Bank of Industry, and Tom Jones Memorial Hall and Library.

2. Ikeja Local Government Area

Ikeja, the capital of Lagos state, is among the wealthiest local government areas in the nation. This local government has had excellent development as it is a well-planned city with commercial and industrial operations as well as a well-thought-out transportation system for getting about its neighborhoods.

The LGA is endowed with natural gas, coal, timber, and water resources. Famous areas in Ikeja LGA include Oregun, Opebi, Ogba, Akiode, Alausa, Magodo, Maryland, Agidingbi, and Computer Village.

There are more than 3000 stores in the well-known Computer Village, the largest computer accessory market, sometimes referred to as Otigba. The Ikeja local government area depends economically on this region, which also generates revenue for the LGA.

Murtala Muhammed Airport, an international airport, is located in the Ikeja LGA. Lagos State Government House, Alausa, and the well-known Ikeja City Mall, better known as Shoprite, are all nearby.

3. Abuja Municipal Local Government Area

Since the National Assembly and the president of Nigeria have their official residences in Abuja, the Abuja Municipal Area is by far the most influential LGA in Nigeria. The offices of international organizations like OPEC and ECOWAS are also located in this region.

The president provides funding to this locally-run government, which is the safest in the nation. Tall structures, skyscrapers, well-built, well-spaced homes, and well-known five-star hotels like the Abuja Sheraton and NICON Hilton are all situated in Abuja Municipal, indicating that the development in this LGA is very advanced.

4. Eti-Osa Local Government Area

A well-known local government area in Lagos State, Nigeria, Eti-Osa is made up of many council areas, including Ikoyi-Obalande, Eti-Osa East, and Iru Victoria Island. There are also rumours that the wealthiest individuals in Nigeria, Aliko Dangote, Mike Adenuga, and Folorunso Alakija, live nearby.

The total population of Eti-Osa is around 283,791 people. Because of its proximity to some of the state’s most developed neighbourhoods, including Ikoyi, Lekki, and Victoria Island, this region is home to enterprises with a significant local and global reach.

5. Lekki Ibeju Local Government Area

Situated in the state of Lagos, Ibeju Lekki is well-known for its expansive fields, lovely parks, and industrial housing developments.

This LGA is a future business zone because of the Lekki commercial free trade zone, which is still being developed, and the 12 MW independent power plant, which is being built by the China-Africa Lekki investment firm. Additionally, a Dangote oil refinery is being constructed, which will undoubtedly improve this local government.

6. Uyo Local Government Area

Uyo is the capital of one of the wealthiest states in Nigeria, Akwa-Ibom. Blessed with an abundance of natural resources, Uyo has developed its infrastructure to include excellent road systems, bridges, schools, and other tourist attractions that help the region’s economy.

It is also home to “Godswill Akpabio Stadium,” the greatest stadium in the nation. It is said that foreigners, tourists, and investors are drawn to the Uyo local government region.

7. Calabar Municipality

Over 179,000 people live in the Calabar Municipality, which serves as the capital of Cross Rivers State. The city is bordered by tourist attractions including the Calabar Tinapa resort, the Obudu cattle ranch, and many more, and the roads are well-built.

8. Bonny Island

In the state of Rivers sits the lovely LGA known as Bonny Island. This region is renowned for its improved infrastructure, including paved roads and a reliable water supply for all locals.

Nigeria’s liquefied natural gas (NLNG) facility is located at Bonny Island and provides the city with a round-the-clock supply of energy. There are two ways to get to the Island: boat or ferry.

9. Obio-Akpor Local Government Area

When it comes to natural resources, Obio Akpor Local Government Area is the richest. situated in River State, one of Nigeria’s wealthiest states.

With natural resources like oil and gas nearby, Obio Akpor is a prominent city in the Niger Delta and one of the nation’s most important economic hubs. In addition to farming, the people of Obio Akpor are known for their oil.

10. Ibadan Northwest Local Government Area

Located in Oyo State, Ibadan Northwest LGA, is best known for its rich history, culture, and agricultural resources. It houses the first tertiary institution in Nigeria, the University of Ibadan.

The LGA also boasts abundant natural resources including limestone, clay, kaolin, etc, which has created an avenue for the development of mining and manufacturing industries.


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