When it comes to the economy, Lagos can be said to be the heartbeat of Nigeria.
Not for nothing is Nigeria described as the giant of Africa. The country is not only ranked sixth in the league of crude oil exporting nations, globally; it also stands first in the continent.
In terms of population, Nigeria occupies the seventh position oi9n the world, with an estimated number of 180 million, and first in Africa.
Housing a number of 36 states, with one of them being Africa’s 7th largest economy, Nigeria prides itself as Africa’s largest economy, even though it does not reflect in the lives of its citizens.
Be that as it may, we shall be focusing on states with the largest economy in Nigeria.
Here are the five richest states in Nigeria
1. Lagos state
When it comes to the economy, Lagos can be said to be the heartbeat of Nigeria. The state is not only known to have the largest economy in Nigeria, it also prides itself to have the 7th largest economy in the continent.
Situated in the South-Western zone of the country, Lagos State has a meagre land mass stretching up to 3, 577 square kilometers. And despite its small land mass, Lagos State remains the most populous Nigerian State with its total population estimated at 18 million inhabitants.
Significantly, Lagos State is Nigeria’s major centre for commercial activities, standing at $4,333 for its per capita level while a total of $33.679 billion is recorded for its Gross Domestic Product (GDP).
2. Rivers state
Rivers state is the second richest state in Nigeria. It covers the area of 11.077 square kilometres with an estimated population of 5.2 million people.
The region is rich in vast reserves of natural gas and crude oil that consist more than 60% of Nigerian crude oil output.
As a matter of fact, every oil and gas company in the country has its presence in the city of Port Harcourt, which is why oil generated revenue contributed in placing the state at the number two spot despite its average population of 5.2 million relative to other states.
The total GDP of the state is $21.073 billion, per capita is $3.965.
3. Delta state
Delta state is also located in the southern region of Nigeria. It covers an area of 17.698 square kilometres with an estimated population of the state is 4.1 million people.
The state is one of Nigeria’s state with the largest deposits of natural endowments such as industrial clay, silica, limestone, lignite, kaolin, tar sand and lots more. It also has one of the largest deposits of crude oil and natural gas in Nigeria
Economically, Delta State has a total of $3, 990 as its per capita level coupled with $16.749 billion as total GDP.
4. Oyo state
Standing in the fourth position of Nigeria’s richest states, Oyo state is located in South West region of Nigeria and covers the territory of 28.454 square kilometres.
The overall population is around six million people and a major part of the economically active population works in the agricultural sector of the state.
Oyo State produces cashew, palm oil, cocoa, plantains, rice, millet, cassava, yam and maize and boasts of a total GDP of $16.121 billion, per capita is $2.666.
5. Imo state
Imo state stands in the fifth position of Nigeria’s richest state. Although it is counted among the smallest states in the country, it is endowed with some land expanse that is rich resources like white clay, fine sand, limestone, lead, crude oil, natural gas, and zinc.
The state also houses several oil companies including Addax Petroleum, Chevron Corporation, Royal Dutch Shell and Agip.
Geographically, Imo State is located in the South East of Nigeria and covers 5, 530 square kilometers. Its per capita level is $3, 527 as its per capita level and $14.212 billion in total GDP.