Nigeria has thirty six states with the federal capital territory, Abuja making it thirty seven. Of these states, ten stand out in terms of internally generated revenue and economic viability for wider benefit. Other states have their respective revenue generation sources, but not as viable as these ten below:
1. Lagos: this is the economic nerve centre of not only Nigeria, but Africa as a whole. Lagos was once the federal capital territory of Nigeria before relocation to Abuja. Lagos sources its overwhelming revenue as tax from corporate organizations, hospitality industry, real estate, maritime, markets, tourism, manufacturing, entertainment, telecommunications and industries. Lagos, of course, is the richest state in Nigeria and the busiest. Every corporate organization sites its corporate office in Lagos, even multinational oil firms operating in the Niger Delta’s costal terrains. Lagos can comfortably take care of extra five states in the country without going insolvent. It’s the importation destination for Nigeria and Nigerians. Lagos is more than five states put together in terms of economic viability.
2. Rivers: Rivers state quickly follows Lagos. It’s one state that can take care of four states with itself inclusive without going insolvent. Sources of the state’s economic prosperity include: Tourism, hospitality, maritime, oil, agriculture, entertainment, industries, education and commerce. Its capital, Portharcourt is a beehive of economic activities and entertainment destination. The state is very rich in oil and gas. It’s a state with multiple ethnic groups including: Igbo (the majority), Ijaw, Kalabari, Opobo, Ogoni and Okrika.
3. Anambra: This is the richest state in the southeast as a state and on individual ground. The state has many economic tributaries. It’s the home of most wealthy businessmen such as the CEO of Innoson Vehicle Manufacturing in Nnewi, Chief Innocent Chukwuma, multinational oil mogul, Engr Arthur Eze, Dr Ernest Obiejesi of the Obi Jackson Group, Chrome Group, Sir Emeka Offor, Air Peace, Barr Allen Onyema, international medical expert, Dr Godwin Maduka, transport giant Chief Chidi Anyaegbu of the Chisco Transport Company, pharmaceutical giant, Chief Okoye of the popular Juhel Pharmaceuticals, Coscharis Group founder, Cosmas Maduka, Dr Obiora Okonkwo of the United Nigeria Airline, among others. Sources of Anambra’s overwhelming revenue include: Industries, trading, hospitality, real estate, agriculture, entertainment, oil, transportation, etc. Anambra has five economic zones as follows: Awka, Onitsha, Nnewi, Ekwulobia and Umunze. Nnewi is regarded as the Japan of West Africa as it’s reputable for automotive manufacturing and trading.
4. Kano: Kano is the economic nerve centre of the northern Nigeria. It’s also a state that produced the richest man in Africa, Aliko Dangote and the third richest man in Africa, Abdulsamad Rabiu of the BUA Cement. Kano is the most populated Northern state. Its sources of revenue include: maritime, commerce, agriculture, manufacturing, transportation, hospitality and tourism.
5. Akwaibom: This is one of the richest states in Nigeria. It’s also one of the largest states. Its sources of revenue include: oil, tourism, hospitality, water, entertainment and trading. It’s located in the Niger Delta area of the country.
6. Delta: This is the second oil rich state in Nigeria after Rivers state. Its sources of overwhelming revenue include: oil, forestry, hospitality, entertainment and maritime. Asaba which is its capital is the entertainment nerve centre of Nigeria after Lagos. Delta has four economic zones which are: Asaba, Warri, Kwale and Sapele.
7. Bayelsa: though the smallest state in Nigeria, but oil rich. It ranks third in terms of oil economy. Bayelsa generates its revenue from oil, water, agriculture and hospitality.
8. Kaduna: This is the political capital of the northern Nigeria. It’s one of the business destinations in Nigeria. Its sources of internal revenue include: maritime, manufacturing, hospitality and agriculture.
9. Ogun: after Lagos in terms of industrialization, Ogun state is the second in industrialization. It’s in the southwestern axis of Nigeria. Its major sources of income are manufacturing, real estate and agriculture.
10. Abia: Abia state is in the southeastern part of Nigeria. It’s a state that has one of the internationally recognized commercial hub, Aba. Sources of revenue for Abia are: market, oil, manufacturing, agriculture and tourism. Its two economic zones include Umuahia and Aba.
