Richest States in Nigeria 2016 The Top 5

Top 5

Updated: Richest States in Nigeria 2016/2017 The Top 5

In our subsequent post not really the last post though , we discussed the poorest states in Nigeria and clearly point out the richest state in Nigeria . We did justice to the topic fully and we made it very explicit on how we arrived at facts regarding the ranking. Today, we want to look into the top five (5) richest states in Nigeria 2016/2017 . In time immemorial , Nigeria was a very small country faced with underdevelopment , but there has been a lot of changes in the Nigerian economy in these recent age despite some bad eggs involve in the Nigerian politics .

In the past decade, several Nigerian states have seen a growing wealthy class while some are still struggling to survive . Most Nigerian states that are blessed with natural resources are mostly responsible for this economic boom and some of these states are now tourist sites because they have used their money to develop the state . The richest states in Nigeria are the most developed state with a vast majority of people in the states working in these areas, these states also attracts foreign investors who come from other countries to invest in these states . This is major thing that develops a state rapidly , in a state or country where there is no forign investors such place will surfer and such economy will be very slow in terms of development .

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By the way, if you missed Poorest States in Nigeria 2016 The Top 10 you can catch it here .

This is The Top 5 Richest States in Nigeria 2016/2017

1. Lagos State
Almost everybody would know this , Lagos is the richest state in Nigeria and i believe everybody would strongly agree with that even those people that haven’t been there would swallow this fact as well . As far as Nigerian states is concerned , Lagos is the most busy place in Nigeria and the most popular state in Nigeria . Lagos state is filled with many businesses and companies , it is an ideal place to establish a busniess in Nigeria because of it population . Poeple often migrate to Lagos from other parts of Nigeria in search of greener pastures  .

Lagos State was initially the Nigeria Federal Capital Territory before it was moved to Abuja . Lagos State GDP is positioned at $33.67 billion

2. Rivers State
After Lagos State , the second richest Nigerian state is Rivers which has Port Harcourt as the State capital . Last year , it was disclosed by Business Day newspaper that Rivers has the fastest growing economy . River state is a state that has a lot of business activities going on day and night , these businesses are owned by Nigerians and other foreign investors . In addition, River is a state that has a lot of Oil industries  which many other Nigerian states lack .

River State has GDP of $21.07 billion

3. Delta State
On the third spot we have another rich state that has contributed greatly to the development of Nigeria at large , Delta State . Delta has majority of Nigerian oil refinery because they are located there in the state . This state leads in terms of renewable energy as well as oil production and has a GDP of $16.75 billion .

4. Oyo State
The fourth richest state in Nigeria is Oyo State and Ibadan is the state capital . This state experienced a massive growth  between 2008 and 2012 when it  recorded a GDP of 14% growth rate . The state has the second-highest emerging middle class in the South West region and a gross state product of more than $1.91 trillion it is reasonable for you to know that this information about Oyo State was culled from Oyostate.gov .

5. Imo State
At the number fift spot which is the last spot is Imo State and we will give you the reasons why it emerged the fift on our list . Imo is a state that is very business friendly infact is the central for companies and industries most especially for oil and Gas companies . Imo is an eastern Nigerian state and it is occupied by the Igbos who love business so much .

Imo State has a GDP of $14.21 billion .

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