Top Five Richest States In Nigeria

Nigeria is one of the richest countries in the world when it comes to the amount of natural resources within its geographical area. Unfortunately the country has not been able to convert these resources into actual wealth as a result, Nigeria is not among the richest countries in the world in terms of GDP .

There are states in Nigeria that are blessed with natural resources which make them ranked as one of the richest states within the country.

In this article, I will be listing the top five(5) richest states in Nigeria in accordance to their GDP or Internally Generated Revenue (IGR)

(1) Lagos State

Lagos is unarguably the richest state in the country with à GDP of $33.68 Billion. The GDP is the highest in the country. The states cover over 3,000 square kilometers of Land with a population of over 20 million residents. The state is the most developed state in the country making it the center of Nigeria's economy. The major source of revenue is taxes on personal incomes, fines, licenses, fees, levies on business activities, as well as investments within the states.

(2) River State

River's is one of the richest states in Nigeria with a GDP of $21.073 Billion. River State cover a whopping 11,077 square kilometers of land in the south-south region of Nigeria with a total population of about 5.2 million people. The Slogan of River State is the treasure base of the nation, as the state is known for its crude oil deposit. Oil was first discovered in Nigeria in Oloibiri, River State and the sector has gone over the years to become a very important aspect of the country's economy.

(3) Delta State

Just like River's, Delta is one of oil producing states in the country making them of the richest states in the country. The state sit firmly as the third richest state in the country with a total GDP of $16.75 Billion and a total population of over 4 million people. The state has two of major cities in the country Asaba the state capital and Warri, a industrial and commercial hub. The state has many natural resources like limestone, sand, tar and Oil&Gas.

(4) Oyo State

The state has actually has a total population of over 6 million people and a GDP of about $16.12 Billion. The state capital Ibadan is said to be the largest city in West-Africa. The state is located within the Southwest region of Nigeria. The agricultural activities within the state are responsible for its wealth, the state has a vast area of land available for mechanized farming and the climate in the state favour the cultivation of crops like rice,maize, cashew,cocoa and so on.

(5) Imo State

Imo state is another state blessed with natural resources like crude-oil, zinc, white clay, limestone, natural gas and many more. With a total GDP of $14.21 Billion and population of over 4.9 million the state sit as the fifth richest in the country.

The state is located in the south east region of the country, also one of the oil-producing state in Nigeria and engages in palm oil production as there are several palm plantations within the state.

These are top five richest state in the Nigeria, Nigeria as a country is blessed with many natural resources.