The 10 Richest States in Nigeria 2024

Nigeria is a country rich in natural resources, and each state has its way of generating wealth.

Some states stand out by contributing more to the country’s economy, thanks to resources like oil, agriculture, and minerals. In 2024, these states are leading in terms of economic growth and development.

The data for this ranking is provided by BudgIT, a civic organisation that applies technology for citizen engagement with institutional improvement to facilitate societal change.

Here are the richest states in Nigeria:

1. Lagos State

Lagos, formerly the capital of Nigeria, remains the heart of the country’s financial activities and is the most populous city in Africa. With a GDP surpassing 41 trillion Naira, Lagos leads as the hub of commerce, technology, art, entertainment, and education, continuing to attract investments and rapidly grow.

2. Rivers State

Positioned in Southern Nigeria, Rivers State, with its capital in Port Harcourt, is a cornerstone of the Nigerian oil industry. Its economy, enriched by natural resources like oil, natural gas, and silica, boasts a GDP of over 7 trillion Naira.

3. Akwa Ibom

Bordering Rivers State, Akwa Ibom thrives on its oil and natural gas production but also benefits from agriculture and tourism. Its GDP also stands at about 7 trillion Naira, reflecting its economic diversity and investment attractiveness.

4. Imo State

Located in southeastern Nigeria, Imo State is rich in oil, natural gas, and agricultural products. With over 150 oil wells, its GDP of over 7 trillion Naira underscores its role as a key player in Nigeria’s energy sector.

5. Delta State

Known for the River Niger that flows through it, Delta State is a blend of rich culture, abundant natural resources, and industrial activity. It has one of the lowest poverty rates in Nigeria and a GDP of about 6 trillion Naira, fueled by petroleum and solid minerals like limestone and kaolin.

 6. Anambra State

In southeastern Nigeria, Anambra’s cities of Onitsha and Nnewi are pivotal to its economic prowess, particularly in automotive manufacturing. Its GDP, over 5 trillion Naira, is bolstered by robust agricultural and commercial activities.

 7. Ondo State

Ondo, a major agricultural state in southwest Nigeria, balances its oil production with rich agricultural outputs, including cocoa and palm oil. Its diverse mineral resources and GDP of over 5 trillion Naira make it a contributor to Nigeria’s economy.

8. Ogun State

Following Lagos, Ogun is one of the most industrialised states of Nigeria. Its economy, thriving on mining and agriculture, records a GDP of about 5 trillion Naira. The state is a large producer of agricultural products and minerals, supporting its economic stability.

9. Bayelsa State

Situated in the Niger Delta region, Bayelsa is pivotal in Nigeria’s oil industry. With natural gas, oil, and other mineral resources, it has a GDP of over 4 trillion Naira. Oloibiri, where Nigeria’s first oil was discovered, is located here.

10. Niger State

Named after the River Niger, Niger State houses major power stations like the Shiroro and Kainji Dams. Its rich mineral and agricultural base provides a GDP also over 4 trillion Naira, making it vital for Nigeria’s energy and agricultural sectors.