Sometimes ago, we published a post on some of the poorest states in Nigeria. What is worthy of note is that those states did not make the list of the poorest because they have more poor people, they are poor because they have the lowest Gross Domestic Product (GDP). The Gross Domestic Product ( GDP) is the value of all processed goods and services that are made within the jurisdiction of a state. This monetary value is the benchmark that is used to measure the wealth of a state economy.
In this review, we will be identifying the top five states with the highest GDP. In the real sense, we can call these states the richest in Nigeria based on the level of their GDP. The GDP is calculated using the state’s expenditure, incomes, and production. Apparently, a state that is highly industrialized will always make the list. Let’s take you through the top five states with the highest GDP in Nigeria.
1. Lagos State
Lagos State is evidently the state with the highest GDP in Nigeria. The reason can not be disjointed from the fact that the two main ports are situated in Lagos. The international airport which is the Muritala Muhammad Airport and International Seaport are both situated in Lagos State. These two ports have helped turned Lagos into a distinguished centre of commerce among other states in Nigeria. As of now, the GDP of Lagos stands at about $33, 679.
2. Rivers State
Rivers State which has its capital city in Port Harcourt also enjoy almost same right like Lagos. The state also houses one of the largest International Seaport in the country and international airport. Rivers State is also an oil-producing which makes it one of the largest in the country. As of now, the Gross Domestic Product of the states is about $21,073 making it the second in Nigeria.
3. Delta State
Delta State is located in the South-South region of the country. Although Delta State doesn’t have seaport like Lagos State and Rivers State, however, it is also one of the oil-producing states in Nigeria. Also, there are several industries in the state which also generate a chunk of revenue for the state. Delta State has about $16,749 Gross Domestic Product. Delta State is one of the richest states in Nigeria.
4. Oyo State
Oyo State Nigeria pride itself as one of the prominent states in the South West region of Nigeria. With its capital in the city of Ibadan, It house several Industries both local and foreign investors are in the state to draw from the abundance of resources of the state. Oyo State is generating one of the highest income on the state level in Nigeria. As of now, Oyo State has a total of $16,121 GDP
5. Imo State
Imo state is one of the famous states in the South-Eastern part of the country. It has its capital city in Owerri. The major sources of revenue of the state are agriculture and commerce. Imo state pride itself as one of the largest producer of palm oil in Nigeria, their GDP stands at about $14, 212.