Nigeria has a diverse economy that is driven by sectors such as oil and gas, agriculture, manufacturing, construction, banking, and finance.
The top 10 states in Nigeria are based on gross state domestic product (GDP). The Nigerian economy is forecasted to grow by 5% in 2019.
Nigeria’s economy is diverse and there are many states with varying GDPs.
List of Richest States in Nigeria
The top 10 richest states are Lagos, Akwa-Ibom, Ogun State, Edo State, Oyo State, Bayelsa State, Delta State.
1. Lagos State US$33,679M
Lagos State is a place that provides many opportunities. It is the fastest-growing economy in Nigeria and one of the largest metropolitan areas in Africa. It also provides a lot of business opportunities for those with ambition, determination, and creativity.
Lagos State is the richest state in Nigeria because it has an extremely productive economy with a high level of employment rate and GDP per capita. Lagos is home to top corporations such as Glo Airlines, LafargeHolcim, GMAC Mortgage Inc., and Airtel Nigeria. In addition to this, Lagos state has one of the largest shopping malls in Africa – Lekki Shopping Mall which attracts millions of people every day.
2. Rivers State US$21,073M
Rivers State is an oil-rich state in Nigeria that ranks second after Lagos. The estimated population of the state is around 5,198,716 and its GDP stands at $21, 073 billion.
Rivers State has the second-highest GDP in Nigeria and is home to a number of oil firms. Rivers also hosts fishing opportunities for those looking to catch their next meal!
The people here enjoy a number of natural resources including fishing because it’s also home to many oil businesses as well!
Delta State US$16,749M
Home of the Niger River Delta, which is one of Africa’s largest and most bio-diverse wetland areas, Delta State has a population that numbers over 4 million.
The state was once part of Nigeria’s oil industry boom with its GDP estimated at $16 billion in 2005.
However today it faces challenges to remain competitive as new sources for hydrocarbons are found outside Nigerian borders while developments within the country have made other states more attractive destinations for investment into infrastructure projects such as roads or power generation plants .
The Delta State is the third-largest crude oil producer in Nigeria and one of the Niger delta states. The state has also been able to maintain its wealth with agricultural practices, making it a rich State according to GDP per capita data.
The third richest State in Nigeria is Delta State, the capital of which is Asaba. They have a GDP estimated at $16,749 billion and an approximate population size of 4 million people; but they also produce crude oil – why else would one be on this list? The state has traces of agriculture that keep them from slipping off the top ten lists for wealthy States around Africa.
A major contributor to the success story that makes up this rich Nigerian state can be attributed with their vast oil reserves found within Niger-Delta states especially those located in South-South region. Their agricultural practices also help them stay on our list as one among many wealthy states across the country.
4. Oyo State US$16,121M
Oyo State is one of Nigeria’s most populous and prosperous states, home to the “Empire City” Ibadan. It has a population estimated at 6 million people with GDP that rises up to $16 billion annually.
In addition to economic prosperity through commerce like agriculture – producing cocoa, cashew nuts, millet among other crops – it also boasts some of the country’s best-known tourist attractions such as Oyo National Park; Zoological Garden; and sites related historically in its empire past place for trade dating back centuries ago etc
Owing largely thanks so many historical heritage spots highlighting their rich cultural history from their prehistoric ages till date.
5. Imo State US$14,212M
Imo State is the 5th richest state in Nigeria. It has a population of 3.9 million people and GDP worth $14,212 billion which makes it one of the wealthiest states in Africa with many mineral resources such as white clay, Lead, Zinc and Natural Gas to name just some; Imo also benefits from lucrative agriculture trade and logistics enterprises that are among the largest contributors towards its economic success story.
White clay, lead, zinc natural gas are among some of it mineral resources that make Imo one-of-a-kind as a whole!
It also boasts an oil production industry worth over 9 trillion Naira annually and agriculture contributes 6% towards its Gross Domestic Product (GDP).
6. Kano State US$12,393M
Kano is large, diverse and one of the wealthiest states in Nigeria. It has 9 million people living there with a GDP that exceeds $12 billion dollars.
The Kano State economy is the most prosperous in Northern Nigeria, and as such it ranks on top of the richest states within Nigeria. The population was estimated to be 9,401,288 million with a GDP of $12393 billion.
Kano State boasts some impressive statistics including having the largest number of local governments as well as being home to many industrial areas.
The local government system has been well established across this region due to its high number; yielding 12 Local Governments that contribute immensely not just economically but culturally too! Some products produced in Kano include chili pepper (one of their famous exports), cottonseed oil which many Nigerians use for cooking purposes. Other goods are also exported from here including soybeans and garlic – sometimes referred by locals as ‘Kanoon’.
7. Edo State US$11,888M
One of the most famous States in Nigeria, Edo State is rich with resources and tourist attractions. The capital city Benin was founded by King Eweka I in 1441 when he came from East Africa to establish a new kingdom near an old Yoruba town called “Urua” (or Ouidah).
With its ancient history, it’s no surprise that tourism plays such an important role for this African state.
Edo State is world renowned for its old Benin Kingdom which has been a tourist attraction in recent years.
The state also makes money from the minerals resources bound in its soil and due to this, Edo State currently ranks as one of Nigeria’s wealthiest states with an estimated population 5 million people and GDP $11,888 billion.
8. Akwa Ibom State US$11,179M
Akwa Ibom State is one of the Niger-Delta states, located in Nigeria’s South-South region. It produces oil and other natural resources like cocoa beans from its land while also offering a glimpse into African culture through festivals such as Akpa Festival (the festival that occurs on September 1st every year) or Edikang Ikong during which traditional games are played by children who celebrate their coming of age when they turn 18 years old.
It’s population has been estimated at 5,451 thousand and its GDP runs into $11,179 billion. The Akwa Ibom State also makes a fortune from other lucrative sources such as the Uyo International Airport and Godswill Akpabio Stadiums respectively located there. Furthermore it’s economy thrives on petrochemical activities which are carried out by major companies therein including ChevronTexaco Petroleum Company Limited (CVPC).
9. Ogun State US$10,470M
Ogun State is a south-western state in Nigeria, having 3.75 million citizens and generating $10 billion worth of gross national product annually. The Ogun State economy centers around manufacturing industries with the largest being Dangote Cement Enterprises Ltd., Lafarge Africa Limited, Nestle Nigeria PLC; there’s also an abundance of sites to visit like Olumo Rock which boasts over 300 years’ history as a sacred place for all religions including Christianity and Islam.
10. Kaduna State US$10,334M
Ogun State has many manufacturing industries and factories which have contributed significantly to its GDP as well as making it one among the top states in terms of industrial activities with Lagos being first on that list by far due to historical reasons like long time presence for most companies etcetera while some other factors including Olumo Rock’s popularity make Ogun stand out from others so much more than just about any comparison.