To answer the question, “Top Ten Richest States In Nigeria” You must examine the GDP. The final market price of all commodities and services produced is the gross domestic product. However, keep reading to know Nigeria’s Top Richest States.
Nigeria is divided into 36 states, each with its own population, size, and riches. This article examines the top ten richest states in Nigeria, out of 36, using GDP and economic activity as yardsticks.
What You Should Know About Nigeria’s Economy
Nigeria is a country rich in materials and people resources that should propel it to the top of the world’s power rankings. Of course, we are aware that this same country is experiencing leadership issues as a result of mismanagement.
However, there are still affluent states in Nigeria that can practically live without the assistance of the federal government. Nigeria now has 36 states, and under Nigerian law, the federal government controls all mineral resources.
This meant that states had to rely on the federal government for a variety of financial services. However, some Nigerian governments have been able to put in place institutions that allow the state government to amass vast sums of money.
Top Ten Richest States in Nigeria
Below is the list of top ten richest states in Nigeria:
10. Kaduna – $10.33 Billion
Kaduna State is ranked tenth among Nigeria’s wealthiest states. Kaduna is located in the country’s north-central region. It has a total population of 6.1 million. Kaduna is one of the most cosmopolitan states in the country, home to people from over sixty distinct ethnic groups.
It has a GDP of $10.33 billion, making it Nigeria’s tenth richest state. The agriculture industry employs the majority of economically active people.
First and foremost, Kaduna state is home to Nigeria’s largest textile manufacturing industry. In addition, it has oil refining, tobacco, and cottonseed processing businesses.
9. Ogun State – $11 Billion
Ogun State ranks ninth among Nigeria’s wealthiest states. It is located in Nigeria’s southwest. The state is rich in natural resources like limestone, deposits, chalk, clay, and so on.
Furthermore, Abeokuta, the capital and most populous city in Ogun state, is famed for the Aro granite located nearby. Mining, on the other hand, produces building materials, particularly in southern Nigeria.
Ijebu Ode and Sagamu are two more prominent cities in Ogun state. Ijebu Ode is known as the old royal capital of the Ijebu kingdom. While Sagamu is the most popular Kolanut trading city in Nigeria.
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8. Akwa Ibom State – $11.09 Billion
Akwa Ibom State ranks eighth among Nigeria’s wealthiest states. It is located in Nigeria’s geopolitical zone of South-South. It is also the fifteenth most populous state in the United States.
Meanwhile, economic activities such as mining, agriculture, offshore oil production, deep-sea fishing, and so on contribute to the state’s GDP.
7. Edo – $11.89 Billion
Edo’s capital is Benin City, which is located in Nigeria’s southern area. Edo has a total population of 3.5 million people and a GDP of $ 11.89 billion, making it one of Nigeria’s richest states.
Edo is well-known for its tourist attractions, like as Benin City’s Emotan Statue and Agenebode’s Niger River, and Lake Ise Beach. It is a huge state with abundant natural and human resources.
6. Kano State -$12.39 Billion
Kano State is not only one of the richest states in Nigeria, but it is also the most populous. Kano, its capital, is also Nigeria’s second most populous city after Lagos.
Kano city, on the other hand, acts as a production and processing center for canned goods, textiles, cement, steel, light vehicles, and so on.
Kano has an estimated population of 11 million people and a GDP of $ 12.39 billion, making it one of Nigeria’s richest states.
Kano is a significant producer of hides and skins. Chili, gum arabic, garlic, cotton, soybeans, and sesame are also produced.
Kano is Nigeria’s second biggest city after Lagos, with over four million citizens living within 449 km2 (173 sq mi); situated in the Sahel, south of the Sahara, Kano is an important trans-Saharan commerce route.
5. Imo State – $14.77 Billion
Imo State is fifth among Nigeria’s wealthiest states. It is located in Nigeria’s geopolitical zone to the southeast. Apart from being one of Nigeria’s richest states, it is also the richest state in South-Eastern Nigeria.
Furthermore, the existence of several industrial businesses, infrastructure projects, and reserves of some natural resources like crude oil, natural gas, sand, and so on has a significant impact on the state’s economy.
4. Oyo State – $16.12 Billion
Oyo state ranks fourth among Nigeria’s wealthiest states. It is an interior state in Nigeria’s southwestern region. It is also Nigeria’s sixth most populous state.
Oyo State is one of Nigeria’s most productive states in terms of food production. Agriculture, processing, and packaging are major industries in the state. And this is mostly where it derives its money.
Oyo is located in Nigeria’s southwestern region. It is one of Nigeria’s 20 wealthiest states. Oyo has a population of around six million people.
It has a GDP of $ 16.12 billion. The agriculture industry employs the majority of economically active people.
Cashews, palm oil, cocoa, plantains, rice, millet, cassava, yams, and corn are all grown in Oyo. It is Nigeria’s fourth richest state.
3. Delta State – $16.75 billion
Delta is located in Nigeria’s southern region. The area has a total population of 4.1 million people. It has a GDP of $ 16.75 billion. Natural resources abound, including limestone, ornamental rocks, tar sands, kaolin, lignite, silica, and industrial clay. Delta also possesses one of Nigeria’s greatest crude oil and natural gas resources. It is Nigeria’s third-richest state.
Furthermore, a federal high court in Abuja has ordered the federal government to pay the state $1.638 billion in accrued revenue in 2021.
Meanwhile, Delta State contains one of the most extensive quantities of minerals and other natural resources, including limestone, lignite, kaolin, and silica.
2. Rivers State (Nigeria) – $21.17 billion
Rivers State ranks second among Nigeria’s wealthiest states. It is located in the Niger Delta Region of southern Nigeria. Port Harcourt, as the state capital, is regarded as the commercial heart of Nigeria’s oil industry.
It is one of Nigeria’s wealthiest states. It has a total size of 11,077 square kilometers. Rivers has a population of 5.2 million people and a GDP of $ 21.17 billion. The area is rich in natural gas and crude oil deposits.
Rivers State received 172 billion Naira as a FAAC allocation in 2018, giving it the third-highest FAAC grant that year.
More than 60% of Nigeria’s crude oil production. Rivers is also the location of Port Harcourt.
Meanwhile, it is ranked as Nigeria’s sixth most populous state. It is also Nigeria’s second richest state, with a GDP of $21.17 billion.
1. Lagos – $33.68 Billion
Lagos State tops the list of Nigeria’s 10 richest states. It is also Nigeria’s most developed state. It is situated in the southwest. It has a land area of 3,577 square kilometers and a GDP of $33.68 billion.
Lagos State, which comprises Lagos, the country’s largest urban region, is perhaps the most economically important state in the country. It is a significant financial hub with the fifth-largest economy in Africa if it were a country. It is Nigeria’s wealthiest state.
The fact that Lagos has the most active main seaports in the country is one of the key drivers of its revenue-generating.
After listing the Top Ten Richest States in Nigeria above, it is impossible to deny that the country is rich in natural resources. Additionally, Nigeria has many states with differing resources. Minerals, fertile agricultural lands, massive oil deposits, natural gas deposits, and so on are examples of these resources.
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