Which state is the richest in Nigeria?

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Which state is the richest in Nigeria? this has been a hot subject for discussion among youths. Some of the state in Nigeria has been able to leverage on favorable economic situation to enrich their coffers, others, not so much. Which among the 36 states do you consider the richest?

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British 9 months 3 Answers 216 views 0

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    The richest state in Nigeria is Lagos State, Internally generated revenue in Lagos state alone is bigger than that from some five northern states combined.

    All States in Nigeria has different peculiarities, what makes them unique from other is just internally generated revenue, federal allocation is still part of it but it hasn’t done so much for Akwa Ibom state. Granted, Akwa Ibom has done pretty amazing in the last few years but it is nowhere near the achievements recorded in Lagos state, Nigeria.

    The richest state in Nigeria is unarguably Lagos State. Lagos State is found on the south Western region of Nigeria near the Atlantic ocean. The predominantly dominated by the yorubas which are the original owners of the land but I doubt if that would be the same in the near future as the high influx of business and development has made Lagos a mixed tribe.

    Lagos is the richest state in Nigeria because of it’s high index in internally generated revenue which arises from both local and international trade, inland and cargo port, tourism and hospitality,manufacturing industries,crude oil, etc.

    Among all these mentioned, local and international trade on goods and services generates more revenue for the state which keeps them at a better advantage than other states who mostly depend on crude generated revenue. If u are looking for a business destination in Nigeria, pack your bags and go to Lagos state, Nigeria.

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    The richest state in Nigeria is Lagos state which is located at the south Western region. It is the most populated state in Nigeria, it’s more popular than the capital of Nigeria, Abuja.

    Lagos state is home to more than 18 million Nigerians, that twice the number of people you find in other popular Nigeria states.

    Lagos state is extremely rich because every major business in Nigeria is headquartered in Lagos, It is also the busiest state in Nigeria… plus, almost every Nigerian have been to Lagos.

    There are lots of companies and job opportunities in this state.

    It is also the headquarter of Nigeria’s entertainment industry.

    the revenue from this state is highest in the country, GDP is about 33.66666 billion dollars and Nigeria’s GDP is about 1 trillion dollars… research at as 2016 shows that Lagos state has the highest amount of internally generated revenue in Nigeria.

    It is Nigeria’s industrial hub, hence the reason for the so much money it has to throw around. it is also the most developed state in Nigeria.

    To answer your question categorically, Lagos state is the richest state in Nigeria, it is also the most developed and the busiest.

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    The richest Nigeria state could be classified on different basis.

    1. Based on internally generated revenue (IGR)

    2. Based on well valued natural resources

    well let me start from the second one. The richest state based on well valued natural resources in Nigeria is Bayelsa state. Bayelsa state is a state with a population of just of a little above one million according to the the 2006 population census. Infact it’s the the state with the fewest population in Nigeria. Even with this it is a state Nigeria can’t joke with as it sits on the black gold which accounts for more than 40 percent of Nigeria’a wealth. I think we all know this black gold but for people who are lost, it is commonly referred to as crude oil. This brings in almost all revenue for Nigeria both locally and internationally since we find it hard not to depend on revenue from crude oil.

    2. Based on internally generated revenue

    This has to do with what a state is able to generate within its boundary. This includes tax, royalty and so on. When we talk of these the state of lagos stands towering above others. With a combined gdp of 36 billion dollars with 90 percent of these coming from generated revenue not forgetting it’s massive population of over 18 million people and high rising technological use and advances.¬†Lagos sure is the real deal.

    Either way unfortunately the populace haven’t got much from this wealth that abounds. It’s a pity that leaves a sour taste story in the mouths and lives of many.

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