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Richest States in Nigeria in 2020

Building is lighting on at night in the richest States of Nigeria
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We prepared for you the list of the top 21 richest states in Nigeria that play an important role in the country’s economy and development. Nigeria is a sub-Saharan African country blessed with natural resources. It is an independent country that has 36 flourishing states, and Crude oil has long been Nigeria’s primary source of foreign exchange and governmental revenues. Nigeria remains the largest oil producer of Africa and the 12th biggest oil producer of the world.

This article is about the top twenty-one most prosperous states in the area of Nigeria. Also, it should be noted that these regions are independent and can survive on their own without the help of the federal government, as the source of their wealth is from sectors like tourism, sports, agriculture, etc. As a result, one cannot expect these states to be poor or having insufficient wealth like many third-world counties. Let’s start from the top with the Lagos region according to GDP and wealth.

1. Lagos State ($33.68 Billion)

Lagos stands at the very top of the richest states present in Nigeria. It boasts of a massive GDP of approximately $33.68 billion, and the per-individual income is $4,335. This figure is more than any other Nigerian region.

Lagos is present in the region of the southwestern land of Nigeria. The area is surrounded by the Ogun Region in the north and the east, sharing its boundaries with the Republic of Benin. It shares its southern borders with the Atlantic Ocean. The Lagos State is thought of as the smallest region among all of the 36 states. Also, it has the highest population density. It covers an area of about 3,600 square kilometers and has an approximate resident count of 18 million residing in the state.

The stare is the nation’s first urban area. It would have been the fifth-largest economy of Africa if it was a country. The region has reserves of natural resources, including – bitumen, clay, and glass sand. Also, reserves of oil and natural gas are present in this area.

2. Rivers State ($21.17 Billion)

The River State, standing at the second richest place of Nigeria, is spread around an area of almost 1100 square kilometers. The Atlantic Ocean binds rivers’ southern region, Imo, Abia, and Anambra by the north, Akwa Ibom State by the east and Delta and Bayelsa in the west.

It has a population of about 5.2 million, making it the sixth most populous place in Nigeria. Its capital and largest city, Port Harcourt, has economic significance as it is the center of Nigeria’s oil industry. We all know how wealthy can an oil industry state can be.

The state has enormous reserves of crude oil along with the presence of natural gas, and it was also amongst the most important of the African states during the British Empire. Other natural forces found in this place include

  • Silica sand
  • Glass sand
  • Clay

River state possesses a GDP of approximately $21.07 billion, per individual income of $3,966.

3. Delta state ($ 16.75 billion)

Delta state is famous mostly for its offering of agricultural products and oil supplies. It is present in Nigeria’s southern portion and has an approximate people density of 4.1 million. Coming to its capital, it is a city named Asaba, which is present in the state’s northern end. Warri, the place which is known as the center of economic activities, consists of the maximum number of people.

Coming to the presence of resources provided by nature, delta has an extensive list. The deposits of minerals that are solids include- clay used for industries, rocks that are used for decorative purposes, sand, etc. Another vital point to note is that the place has a significant reserve of crude oil. Delta also falls under the category of areas that are the top-most producer of petroleum.

4. Oyo state ($16.12 billion)

Oyo is usually referred to as the Oyo region, it is called an island state that is present in south and western area in the country of Nigeria, and it is the fourth most prosperous state of the Nigerian area. The capital of this place is Ibadan. The place is bordered on the north by Kwara State, on the east by Osun region, on the south by Ogun state, and some part of it is also bound by the Republic of Benin.

The overall number of people in this region approximately is 6 million. Agriculture is the main occupation of the people residing here. Some of the main crops which are cultivated are- millets, rice (which is most common), dry fruit such as cashew, etc. Its economy is mainly based on its agriculture and handicrafts.

The overall GDP is approximately $16.12 billion. When it comes to Oyo state, per individual income is $2,665. The Yoruba people mainly occupy the Oyo region. The main tourist attractions include Ibadan, Old Oyo national park, Ogbomosho, Ado Awaiye, Iseyin, and Shakti. It also has many universities and colleges like the University of Ibadan and the polytechnic Ibadan.

5. Imo State ($14.21 billion)

Imo state stands as the fifth most prosperous and richest state of Nigeria. Abia state borders it on its east side, River Niger and delta region to the west, Anambra State on the north, and the river state on the south. It is present in Nigeria’s south-eastern land. The capital is named Owerri.

The place has abundant supplies of natural resources like- reserves of naturally occurring gas, the sand of a fine texture, crude or unfiltered oil, limestone, etc. More than 163 oil wells are present in the area.

The economy of the area mainly depends upon agriculture and commerce. Amongst the primary agricultural production is palm oil. Many prominent petroleum companies operate in the area. The beneficial flora includes Iroko, Mahagony, Obeche, Bamboo, and rubber tree.

6. Kano state ($12.39 billion)

The sixth most vibrant area of Nigeria, Kano, is present in the country’s northern portion. The area shares border with the state of Katsina in the region’s north-western part, the Jagawa region’s northeast area, the state of Bauchi in the region’s south-eastern part, and the Kaduna region by the southwest. The capital city is kano.

This region is the most populated place in Nigeria, with an approximate population of about 11 million. Agriculture is a common profession in which people practice in out-skirting districts. Some of the major crops that are cultivated are- rice (most common), millets, peas, etc.

The place is also famous for its production of various things such as garlic, pepper, sesame, and, most importantly, skins for multiple purposes.

7. Edo state ($11.89 billion)

Edo state is the seventh wealthiest area in Nigeria. The region’s approximate population is around 3.51 million. The site was earlier a part of a more significant area called the Bendel state. The region has a valid ethnicity with four or more central ethnic populations: the Bini, Owan, Estako, and Esah. However, the spot has a high rate of visitors from all around the world due to its cosmopolitan nature.

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The capital city is called Benin. The place has the history of being amongst the foremost destinations of Europeans during their exploration expeditions to the African Continent and countries like Nigeria many hundreds of years ago. Some of the flashpoints have remained minor tourist attractions to date.

The place boast of a GDP that is approximately $11.89 billion, and $3,624 is the per capita. The famous tourist attraction includes the Benin City’s Emotan statue, the Agenebode’s Iske lake. The region has reserved with crude oil and mineral resources like limestone and quarry.

8. Akwa Ibom region ($11 billion)

The eighth-most vibrant place in Nigeria is present in Nigeria’s southern coastal land. The area is present by the south-south geopolitical area of the place and shares a boundary with the cross-river region by the east, and it is bordered by Rivers state and Abia region in the west.

The Atlantic Ocean washes its southern coast, and the local people love the view of it. The region’s population place is estimated to be 5.51 million. It has a world-class information center, which is known as the Ebom E-library. Akwa Ibom also houses a varied ethnicity and has several groups of ethnicities.

It has a GDP of approximately $11.18 billion, and GDP per individual is $2.778. It is currently the highest oil and gas producing spot in Nigeria. The area, along with its large population, also has a 30,000 seat ultra-modern sports complex. It has a shape similar to the Allianz area stadium, and it has a modern and world-class facility.

9. Ogun state ($11 billion)

The Ogun occupies the 9th rank in the wealthiest place in Nigeria. This richest state lies in Nigeria’s southwestern portion. The Lagos state is bordered by it to the south, Osun, and Oyo in the opposite, to the east, is Ondo.

The sports appellation is Gateway to Nigeria. Abeokuta is the biggest city and also the capital in this region. The region’s population place is approximately about 4 million residents. A fact that can be noted is that a large number of factories are located in this area.

Factories like

  • Arepo and Sagamu’s Coleman cables.
  •  Gamble and Procter in Agbara.
  • Lafarge cement Ewekoro.

The place has a GDP of approximately $10.47 billion and, per individual GDP of $2,744.

10. Kaduna state ($10.33 billion)

Kaduna state is a spot present in the western area of Nigerian land. Its capital is Kaduna city. The capital city was also the capital of the former English Protectorate belonging to North Nigeria after Zungeru and Lokoja.

The total resident count of the area is 6.1 million. Kaduna is a place of a significant number of cultures mixing, 60 groups and more of ethnicities living in the area. The overall GDP is approximately $10.3 billion, and per citizen is $1,666. The more significant number of people who are actively working is involved in the department of agriculture.

Kaduna is also amongst the education centers in Nigeria, with many subsidiary institutions. Kaduna has a museum and a park, the Kofar Gamji Park, and the zoo. Lord Lungard’s residence is also a tourist attraction, currently housing the area assembly.

11. Cross River state ($9.29 billion)

 Cross river state is present in Nigeria’s southern portion. The state shares an international border with Cameroon by the east, and the capital city is named Calabar.

The place is named after the cross-river passing through it. The approximate population is 4 million. The area also has various groups of ethnicity living in it.

It has an overall GDP of approximately 9.2 billion, per individual is $5,150. Its beauty has earned it the name ‘people’s paradise.’ The major tourist attraction includes Tinapa resort, cross river national park, and Afi wildlife mountain sanctuary.

12 Abia state ($8.68 billion)

Abia is one of the richest region in the state of Nigeria, present in Nigeria’s southern side. It is the 12th most vibrant place of Nigeria with a GDP of approximately $8.68 billion, per individual is $3000. Umuahia is the capital of the place, and Aba is the main commercial city of the area.

Aba was a former outpost of the British government present in the area. It is also amongst the most populated areas in Nigeria. Aba was previously an area of the IMO region.

Abia state’s population is approximately 3 million. This spot is very much wealthy in reserves of gas and oil, which contributes more than the region’s 40% of total GDP.

13. Ondo region ($8.41 billion)

It is amongst the 21 wealthiest areas in Nigeria. In the former Ondo state, included the present Ekiti region, the land which faced a splitting-off in the year 1996. Ondo is present in the country’s south-east area and lies over an area of 15,400 sq. Kilometers.

The total number of people living in the place comes to a roundabout of 3.5 million residents. The approximate rate of GDP is a humongous $8.41 billion in the area, and per-individual earning is more than $2,300.

The area is enriched with culture and has many groups belonging to different ethnicity living in it. Of which the majority belong to the likes of Owo, Ondo, IIaje, Akure, Oktipupa, and Akoko.

A good number of the Ondo citizens converse in a type of a Yoruba language, which seems to be quite resembling life dialect, which resides in Oke-Igbo. The state has a prevalent religion: Islam.

14. Osun state ($7.28 billion)

Osun is an island state which is present in the southwestern area of Nigeria. Osogbo is its capital. The Kwara state binds it inside by the state named Kwara, Ekiti, and Ondo partly bound it by the east, Ogun is present in the land’s southern part and Oyo in the west.

It covers an area of about 9.25 square kilometers. The total number of people is around 4.2 million. The state has people from both Christian and Islamic faith, and the Osun government claims to offer services to both in the state, primarily through the pilgrim welfare board.

The GDP boasts a substantial $7.28 billion, while income per-individual is $2,076. Yoruba people dominate the state. It also has many tourist spots like Osun-Oshogbo Grove and Erin-Ijlesha waterfall.

15. Benue region ($6.86 Billion)

The place is in Nigeria’s south-eastern land. It has an approximate area of 34.000 sq. kilometers. The place has an approximate GDP of $6 billion, and the per-individual income is $1,500. The state has a total number of residents of about 4.5 million.

The Benue State has a rich reserve of agricultural resources. The place is popular for the production of – Rice, Beans (cassava), millets, maize, soybean, potatoes, sorghum, etc. Such products play a big role in its economy.

The state depends upon the agricultural yield for its economic growth. Hence, it is quite natural for more than eighty percent of the population to be involved in agriculture.

16. Anambra State ($6.76 Billion)

The 16th most prosperous and richest state of Nigeria, Anambra, covers the south-central portion of the Nigerian area. It has a territory of nearly 4,800 kilometers, and that’s why it comes second in the order of the smallest areas. It has a population of approximately 2.8 million residents.

The Igbo is the main ethnic group in this area. Igbo Ukwa is an ancient town known for its astonishing metal crafts. It serves as a popular tourist attraction. The Anambra State’s overall GDP is approximately $6.764 billion, and per individual is more than $1,600.

The place is rich when it comes to gas and oil reserves. It also has reserves of bauxite as well as ceramic. The place constitutes 100% Arabic soil. The government is planning on making refineries for the sole purpose of amplifying the manufacturing crude oils.

17. Katsina State ($5.99 billion)

It is the 17th richest place in the state of Nigeria. Katsina is present in the region’s north-western part. Moreover, it is also amongst the tiniest regions in the country. Katsina covers an area of nearly 24.192 kilometers and has a total population density of more than 6 million. The Hausa is the main ethnic group in the area.

Islam is the main religion of Katsina. The overall GDP is $6.02 billion, and per-person income is more than $1,000. The Katsina is a center of education and is the center of culture in the country. This region of the richest areas of the country owns many educational institutions such as schools, universities.

18. Niger State ($6 Billion)

Niger State is the 18th wealthiest place in the country. Niger is present in the central area of Nigeria and is seen as the largest in the Nigerian land. The place has a large area of about 77,000 km.

It is amongst the richest regions of Nigeria, having an overall GDP of $6.00 Billion and per-individual income of $1,840. Yet, it is not a very populous area in Nigeria. It hosts a population of about 4 million. It also boasts of two major hydropower projects that play a huge role in the nation’s economy and are a big part of Niger state.

19. Borno State ($5.18 Billion)

The Borno State is ranked as the 19th richest state of the place of Nigeria. It is present in the part of north-eastern Nigeria, and it covers a territory of about 57,790 square kilometers. The region’s approximate rate of GDP is $5.18B, and capita per person is $1,124. The total number of the population living in Borno State is estimated to be around to be 6 million.

The ‘Kanuri’ group is the main group of ethnicity in this region. This state also suffers significantly at the hands of the Islamist groups. Boko Haram is a group worthy of a mention.

20. Plateau State ($5.15 Billion)

Plateau State is the 19th richest state present in the country of Nigeria. This state is present in the middle portion of the place of Nigeria. The region that is covered by the state is 3,178 kilometers. The state’s entire population is 3 million.

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This state is perfect for tourists as there are plenty of sights to enjoy, like the Wildlife Safari Park, the national museum in Jos, the Museum of Traditional Nigerian Agriculture, Jos Zoo, Assop Falls, Kurra Falls, Wase Rock, and the Kerang Highlands.

The overall GDP is approximately $5.15 billion of the place, and per-individual is $1,158.

Bonus: Sokoto State ($4.82 Billion)

Sokoto, the 21st wealthiest area of the place, is present in the extreme northwest, near the confluence of the Sokoto River and the Rima River. It is said to have around more than 4.3 million residents living in it. The Hausa people are the principal inhabitants of Sokoto. More than 80% of the population living in this state practice agriculture as their profession.

Most Sokoto people are followers of Islam, and the region acts as an essential seat of Islamic learning in Nigeria. Agriculture is the most important driving force behind the state’s economic conditions. The riverine floodplains produce many cash crops, including peanuts (groundnuts), cotton, and rice.

Sokoto State has an overall GDP of $4.82 Billion, and per-individual is $1,274.