Top 5 Richest States in Nigeria With Their GDP 2024

Nigeria, Africa’s biggest economy, has several states that stand out for their wealth and economic growth, despite the current economic hardship.

Each year, a few states consistently rank as the wealthiest, thanks to industries like oil, manufacturing, tech, and farming.

In 2024, these top five richest states play major roles in business, innovation, and trade, both within Nigeria and globally.

This article will explore what makes these states so successful and how they contribute to Nigeria’s economy

Lagos State ($102.01. Billion)

Lagos State is Nigeria’s richest state by GDP. Located in the southwest, Lagos is the country’s most economically active area.

With a GDP of over ₦41.17 trillion (about $102 billion), Lagos is Nigeria’s main business hub and one of the fastest-growing cities in Africa.

Many businesses, including global companies and banks, are based here, making it a major economic center.

Lagos is a lively city full of different industries—from busy ports and markets to a growing technology sector. It’s also a major spot for local and international trade and is known for its cultural diversity.

Additionally, Lagos has a strong entertainment industry, with Nollywood (one of the world’s largest film industries) producing a high number of movies every year, which boosts the city’s economy even further.

Rivers States ($19.72 Billion)

Rivers State is one of Nigeria’s wealthiest states, with a GDP of about ₦7.96 trillion. Located in the Niger Delta, Rivers is a key economic center due to its strong oil and gas industry.

The oil and gas sector, which operates mainly out of the capital, Port Harcourt, is the biggest part of Rivers State’s economy and a major contributor to Nigeria’s overall economy.

In addition to oil, Rivers State also has other economic activities like trade, manufacturing, and farming. These industries, along with the state’s favorable location, give Rivers a strong and diverse economy.

Akwa Ibom State ($19.25 Billion)

Akwa Ibom State is one of Nigeria’s richest states, with a GDP of about ₦7.77 trillion. The state is a major contributor to Nigeria’s economy, thanks mainly to its role in the oil and gas industry.

Alongside oil, Akwa Ibom has a strong agricultural sector that helps boost its economy. The state is also popular for its beautiful tourist spots, like Ibeno Beach and Ibom Plaza, which attract many visitors.

This mix of industry, agriculture, and tourism makes Akwa Ibom an important and diverse economic center in Nigeria.

Imo State ($​​19.02 Billion)

Imo State has a GDP of over ₦6.19 trillion, making it an important economic center in southeastern Nigeria.

The state has a wide range of industries, including manufacturing, trade, and agriculture, which all support its economy.

Its location has helped many businesses thrive, boosting the state’s wealth. Imo is also known for its popular tourist spots, like Oguta Lake and the Mbari Cultural and Art Center, which bring in visitors from around the world.

This blend of industry and tourism makes Imo State both economically strong and culturally rich.

Delta State ($15.33 Billion)

Delta State, in the Niger Delta, is well-known for its large oil reserves, which help boost its GDP to around ₦6.19 trillion. This oil production plays a big role in Nigeria’s economy.

But Delta’s economy isn’t just about oil. The state also has strong sectors in manufacturing, agriculture, and other industries.

Delta is focused on growing its economy by expanding agriculture and supporting industries outside of oil.

With its natural resources and a strong economy, Delta State is one of Nigeria’s leading centers for trade and business.