Nigeria’s Top 10 Richest and Least Wealthy States in 2023
The data on Internally Generated Revenue (IGR) offers a comprehensive understanding of how well-off Nigerian states were financially in 2022, providing insights into the complex economic landscape of the country. This examination delves into both the successes of prosperity and the challenges faced by governments, divided into six geographical zones. We’ll begin by applauding the economic strength of the top ten states before shifting our focus to those grappling with declining tax revenues.
Top 10 Richest States in Nigeria
South-West:
- Lagos State (NGN 651.15 Billion): Reigning as the financial juggernaut of the nation, Lagos State takes the lead with an impressive IGR exceeding NGN 651 billion, a testament to its thriving industries and sizable population.
- Ogun State (NGN 120.58 Billion): Navigating the intricate economic landscape, Ogun State secures the fourth spot nationally, showcasing robust economic performance with an IGR surpassing NGN 120 billion.
South-South:
- Rivers State (NGN 172.82 Billion): As a close contender, Rivers State claims the second position nationally, averaging its oil-related activities, taxes, and levies to amass an IGR exceeding NGN 172 billion.
- Delta State (NGN 85.90 Billion): Diversified revenue streams, including oil-related income, taxes, and levies, position Delta State as fifth nationally, boasting an IGR surpassing NGN 85 billion.
North-Central:
- Federal Capital Territory (NGN 124.37 Billion): In the third position nationally, the FCT commands an IGR of over NGN 124 billion, propelled by strategic economic activities and government-related revenues.
- Kwara State (NGN 35.76 Billion): Completing the top 10, Kwara State showcases diverse revenue sources, including taxes and levies, with an IGR surpassing NGN 35 billion.
North-West:
- Kano State (NGN 42.51 Billion): Kano State’s IGR exceeds NGN 42 billion, securing the ninth position nationally and highlighting economic resilience through a mix of taxes, levies, and government-related income.
- Zamfara State (NGN 19.44 Billion): Facing economic challenges, Zamfara State ranks sixth lowest nationally with an IGR of over NGN 19 billion.
North-East:
- Adamawa State (NGN 13.18 Billion): Grappling with economic constraints, Adamawa State claims the third lowest position nationally with an IGR of over NGN 13 billion.
- Borno State (NGN 19.06 Billion): Facing challenges, Borno State secures the eighth position nationally with an IGR of over NGN 19 billion.
South-East:
States from this region did not make it to the top 10 wealthiest states.
Least 10 States (Least Revenue)
South-West:
- Ekiti State (NGN 17.03 Billion): Ekiti State faces economic challenges, ranking sixth lowest nationally with an IGR of over NGN 17 billion.
- Ondo State (NGN 32.64 Billion): Grappling with lower revenue, Ondo State secures the fifth lowest position nationally with an IGR of over NGN 32 billion.
South-South:
- Akwa Ibom State (NGN 34.81 Billion): Facing economic constraints, Akwa Ibom State ranks fourth lowest nationally with an IGR of over NGN 34 billion.
- Cross River State (NGN 21.10 Billion): Completing the bottom 10, Cross River State has an IGR of over NGN 21 billion.
North-Central:
- Nassarawa State (NGN 19.28 Billion): Grappling with lower revenue, Nassarawa State secures the seventh lowest position nationally with an IGR of over NGN 19 billion.
- Kogi State (NGN 18.21 Billion): Facing economic challenges, Kogi State ranks eighth lowest nationally with an IGR of over NGN 18 billion.
North-West:
- Sokoto State (NGN 23.62 Billion): Facing economic constraints, Sokoto State secures the second lowest position nationally with an IGR of over NGN 23 billion.
- Zamfara State (NGN 19.44 Billion): Completing the bottom 10, Zamfara State has an IGR of over NGN 19 billion.
North-East:
- Gombe State (NGN 13.60 Billion): Grappling with lower revenue, Gombe State claims the least revenue state in the region with an IGR of over NGN 13 billion.
- Taraba State (NGN 10.24 Billion): Facing economic challenges, Taraba State secures the fifth lowest position nationally with an IGR of over NGN 10 billion.
South-East:
States from this region did not make it to the bottom 10 least revenue states.
Conclusion:
The 2022 IGR data paints a dynamic picture of Nigeria’s economic landscape, revealing both prosperity and challenges across its geopolitical zones. As some states thrive on diversified revenue streams, others face the task of bolstering economic activities. Strategic economic planning and policies are vital to fostering growth and ensuring equitable development across all regions.
Source of Information: Read more at https://nigerianstat.gov.ng/elibrary/read/1241400