Nigeria has experienced growth in its economy over the years. Although not fully tapped the potential is endless.
Different states have contributed their quota via Gross Domestic Product (GDP) in various sectors to the Nation’s economy.
These states have further become more attractive to foreign investors and are experiences tremendous growth potential.
Here are the top 5 Richest States in Nigeria:
1. Lagos State
Lagos is a rapidly growing city with many businesses and companies. It is a city with a beehive of activities and a vibrant economy.
The GDP is placed at $33.67 billion and this makes it the richest state in Nigeria.
2. Rivers State
According to the Business Day newspaper, Rivers has the fastest growing economy. The state is home to Oil based industries and other foreign owned businesses. The GDP of Rivers was reported to be $21.07 billion and is the second richest state in Nigeria.
3. Delta State
A state leading in renewable energy as well as oil production with a GDP of $16.75 billion, which makes it the third richest state in Nigeria. The state attracts a lot of foreign investors and has a strong potential for more growth.
4. Oyo State
This state has a GDP of $16.12 billion and is the fourth richest state in Nigeria. The state experienced a 14% growth rate in GDP between 2008 and 2012. In the South West region, Oyo state is the second highest emerging middle class with a gross state product greater than $1.91 trillion.
5. Imo State
This states is a business hub to companies and industries especially in the oil and Gas sector. It has a GDP of $14.21 billion and is the fifth richest state in Nigeria. The natural resources found in this state has contributed immensely to the growth of this state.