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Highest Revenue Generating States In Nigeria: Top 10

The Nigerian states that generates the highest income are also the richest in the country.

Most of them if not all, can survive without the aid of the federal government. This is so because the source of their Internally Generated Revenue (IGR) caters for their needs.

Poor states can’t do the same as they are dependent on the allocation they get from the center. Since Nigeria is dependent on oil, it is normal that most oil producing states should have favourable positions on the list.

Here are the top 10 highest revenue generating states in the country for 2018.

Lagos
Lagos state is ranked first as the state with the highest IGR by the Nigerian Bureau of Statics.

The revenue generated by Lagos alone stands at an impressive N268,224,782,435.23. This shows that Lagos state can stand on its own as a country.

Although, Lagos is one of the states with the highest allocation in Nigeria, a major source of Lagos state IGR is tax from top companies, business owners, citizens and also from investment. No wonder that Lagos is the richest state in Nigeria today.

Rivers
Rivers state is the second state with highest generated income with an impressive figure of N82,101,298,408.43 generated only in 2015.

Lets not forget that Rivers is the second richest Nigerian state blessed with natural resources such as oil, gas, crude oil and other minerals.

It is this oil producing state that funds the economy of the nation and you hardly hear of the state government owing its workers as its internally generated revenue solves major problems in the region.

Delta
Located in the southern part of Nigeria, Delta IGR as collated by the Nigerian Bureau of Statics recently was N40,805,656,911.96.

With such an impressive figure, you might wonder how a population of just 4 million people merited their place on this list.

In another report, Delta state grosses a total GDP of $16.749 billion at a $3, 990 per capita level.

Ogun
Ogun state is the most industrious state in the country with the highest number of factories in Nigeria.

Also located in the south west region, just like Lagos, this state is also on the list of highest revenue generating states in the country with an estimated figure of N34,596,446,519.52 by the NBS.

Apart from generating income from tax and business holders, tourism, its natural resources and monies collected from markets are just a few sources of Ogun state IGR.

Edo
One major source of Edo state wealth is tourism. In a recent list of IGR of states in Nigeria, Edo income revenue was put at N19,117,468,369.25.

Suffice to say that Edo is also an oil producing state with a GDP of $11.88 billiion and a per capita of $3.623.

The state has over 3 million persons populating its large land mass area and it is ranked 5th richest state in the country.

Enugu
Enugu is one of the wealthiest states in the south east region of the country. The mineral resources you can find there is coal which when refined can be used to produce energy.

The GDP for Enugu is $4.3 billion and the state has an internally generated revenue of N18,081,014,527.00.

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Oyo
This Nigerian state also has been listed among the highest revenue generating states with N15,663,514,824.73 to its credit.

Apart from its yearly GDP of $16 billion dollars, Oyo state indigenes are mostly farmers. The state relies more on agricultural products as its source of IGR.

Some of the agric products grown in this state include yam, maize, plaintain, cocoa which are either eaten by its citizens or exported.

Akwa Ibom
Akwa Ibom isn’t the state with the highest allocation in Nigeria but does pretty well in terms of its IGR with a figure of N14,791,175,253.00.

Even though its among the wealthy states in the country, it does well economically unlike other states in its region (south south). Apart from oil and gas, tourism is also another source of its Internal

Highest Revenue Generating States In Nigeria: Top 10 Highest Revenue Generating States In Nigeria: Top 10 Reviewed by mujeeb Olagunju on June 17, 2018 Rating: 5

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