Nigeria has abundant natural resources, with each state creating income in its own unique way.
Some states stand out for contributing more to the country’s economy through resources such as oil, agriculture, and minerals. These states will be at the forefront of economic growth and development by 2024.
BudgIT, a civic organisation that uses technology to engage citizens and enhance institutions in order to support societal change, contributed the data for this ranking.
Here are the wealthiest states in Nigeria:
1. Lagos State
Lagos, Nigeria’s former capital, is the center of the country’s financial activity and Africa’s most populated city. With a GDP of more than 41 trillion Naira, Lagos is the leading hub for business, technology, art, entertainment, and education, attracting investments and rapidly growing.
2. Rivers State
Rivers State, located in Southern Nigeria and headquartered in Port Harcourt, is a key component of Nigeria’s oil sector. Its economy, bolstered by natural resources such as oil, gas, and silica, has a GDP of more than 7 trillion Naira.
3. Akwa Ibom
Akwa Ibom, which borders Rivers State, thrives on oil and gas extraction while also benefiting from agriculture and tourism. Its GDP is also around 7 trillion Naira, demonstrating its economic diversification and desirability to investors.
4. Imo State
Imo State, in southern Nigeria, is wealthy in oil, gas, and agricultural resources. With approximately 150 oil wells and a GDP of more than 7 trillion Naira, it plays an important role in Nigeria’s energy sector.
5. Delta State
Delta State, named after the River Niger, combines rich culture, natural resources, and industrial activity. It boasts one of Nigeria’s lowest poverty rates and a GDP of approximately 6 trillion Naira, which is driven by petroleum and solid minerals such as limestone and kaolin.
6. Anambra State
Anambra’s cities of Onitsha and Nnewi are critical to the state’s economic success, particularly in car production. Its GDP of approximately 5 trillion Naira is driven by solid agriculture and commercial activities.
7. Ondo State.
Ondo, a key agricultural state in southwest Nigeria, combines oil production with a diverse agricultural output, including cocoa and palm oil. With its diversified mineral resources and GDP of over 5 trillion Naira, it contributes to Nigeria’s economy.
8. Ogun State
Following Lagos, Ogun is one of Nigeria’s most industrialised states. Its economy, which thrives on mining and agriculture, has a GDP of over 5 trillion Naira. The state is a major producer of agricultural products and minerals, which contribute to its economic stability.
9. Bayelsa State
Bayelsa, located in the Niger Delta area, is an important part of Nigeria’s oil sector. With natural gas, oil, and other mineral resources, it has a GDP of more than 4 trillion Naira. Oloibiri, Nigeria’s first oil discovery, is located here.
10. Niger State
Niger State, named after the River Niger, is home to significant power facilities such as the Shiroro and Kainji Dams. Its strong mineral and agricultural foundation generates a GDP of more than 4 trillion Naira, making it essential to Nigeria’s energy and agriculture sectors.
