Nigeria is remarkably endowed with minerals, fertile agricultural lands, and huge oil and natural gas deposits. The country is sub-divided into 36 states and one federal capital territory, with each state being a semi-autonomous political unit that shares powers with the Federal Government. The states vary in size, population, and wealth. Which are the richest states in Nigeria, what are their GDPs, and their main economic activities?
The range of economic activities, governance, and abundance of natural resources are the primary factors determining a state's wealth in Nigeria. This article delves into the richest states in Nigeria, exploring their economic strengths and contributions to the national economy.
Understanding the economic landscape of Nigeria is crucial for grasping its overall growth and development. Each state plays a unique role in shaping the country's economy, influenced by its resources, population, and governance. Join us as we uncover the wealthiest states, their GDP metrics, and the primary industries that drive their economies.
Exploring the Wealthiest States in Nigeria
Which states are the richest in Nigeria? Here is a look at the 20 wealthiest Nigerian states, showcasing their GDPs, annual budgets, and key economic activities.
20. Plateau
- Year of creation: 1976
- GDP: $5.20 billion
- Annual budget: $260 million
- Main economic activity: Tourism
Plateau is considered Nigeria's tourism hub, home to a wide range of attractions, including the Kurra Falls, Kerang Highlands, and various museums. The state's rich culture and natural beauty make it a prime destination for both local and international visitors.
19. Borno
- Year of creation: 1976
- GDP: $5.18 billion
- Annual budget: $414.2 million
- Main economic activity: Fishing and agriculture
Borno's economy is primarily driven by agriculture and fishing, with locals relying heavily on crop and livestock farming. The state is strategically located, bordering Cameroon, Chad, and Niger, which enhances its trade activities.
18. Niger
- Year of creation: 1976
- GDP: $6 billion
- Annual budget: $508 million
- Main economic activity: Power generation
Niger is the largest state in Nigeria, both in landmass and mineral resources. The state is known for its power generation capabilities, housing critical infrastructure like Kainji and Shiroro dams.
17. Katsina
- Year of creation: 1987
- GDP: $6.08 billion
- Annual budget: $819 million
- Main economic activity: Educational institutions
Katsina is renowned for its commitment to education, hosting numerous academic institutions. The state is primarily populated by the Hausa people, contributing to its rich cultural heritage.
16. Anambra
- Year of creation: 1991
- GDP: $6.76 billion
- Annual budget: $409 million
- Main economic activity: Mining
Anambra is known for its significant mineral deposits, particularly in crude oil and natural gas. The state's economy is largely influenced by the Igbo culture, which promotes entrepreneurial activities.
15. Benue
- Year of creation: 1976
- GDP: $6.86 billion
- Annual budget: $376 million
- Main economic activity: Agriculture
Benue is recognized for its rich agricultural production, particularly in crops like yam, rice, and cassava. The state plays a vital role in ensuring food security in Nigeria.
14. Osun
- Year of creation: 1991
- GDP: $7.28 billion
- Annual budget: $313 million
- Main economic activity: Agriculture
Osun's economy is predominantly agricultural, producing a variety of crops including yams and cassava. The state also boasts vibrant industries in textiles and food processing.
13. Ondo
- Year of creation: 1976
- GDP: $8.41 billion
- Annual budget: $243 million
- Main economic activity: Agriculture
Ondo's economy thrives on agriculture, with key crops including cacao and rubber. The state also has a rich history in timber production, which supports its local industries.
12. Abia
- Year of creation: 1991
- GDP: $8.68 billion
- Annual budget: $354 million
- Main economic activity: Agriculture
Abia State is known for its agricultural activities, particularly in the cultivation of yams and cassava. The state's resources also include significant deposits of lead and zinc.
11. Cross River
- Year of creation: 1976
- GDP: $9.29 billion
- Annual budget: $665 million
- Main economic activity: Industrial wood processing
Cross River is rich in forest resources, supplying industrial timber for both local and export markets. The state's economy is complemented by agricultural activities focused on various food crops.
10. Kaduna
- Year of creation: 1967
- GDP: $10.33 billion
- Annual budget: $672 million
- Main economic activity: Textile manufacturing
Kaduna is home to Nigeria's largest textile manufacturing industry, with a strong focus on cotton production. The state's diverse economy also includes oil refining and traditional crafts.
9. Ogun
- Year of creation: 1976
- GDP: $11 billion
- Annual budget: $845 million
- Main economic activity: Mining and manufacturing
Ogun is known for its granite quarries and a variety of natural resources like limestone and clay. The state's industries produce a wide range of products, from canned foods to rubber and plastics.
8. Akwa Ibom
- Year of creation: 1987
- GDP: $11.09 billion
- Annual budget: $1.4 billion
- Main economic activity: Mining and agriculture
Akwa Ibom has a diverse economy, with strong agricultural production in yams and rice, as well as significant offshore oil extraction. The state's residents are known for their farming expertise.
7. Edo
- Year of creation: 1991
- GDP: $11.89 billion
- Annual budget: $537 million
- Main economic activity: Agriculture
Edo's economy is heavily reliant on agriculture, producing various cash crops like rubber and timber. The state boasts rich mineral resources that support local industries.
6. Kano
- Year of creation: 1967
