Top 5 Richest Local Governments In Nigeria

In this article, RNN will be discussing the richest local governments in Nigeria from whichever state the local government is under in Nigeria.

Nigeria is blessed with a lot of beautiful states and each of these states has a lot of local governments under them. When we talk about the richest local government in Nigeria, we consider its population, employment rates, Gross Domestic Product, and source of revenue generation, among other factors.

Lagos State is located in the southwestern part of Nigeria, and it has 3 local governments under this list because the state is a major economic centre of Nigeria. It would be the fifth largest economy in Africa if it were a country. Lagos State houses the headquarters of most conglomerates and commercial banks in Nigeria.

5. Uyo LG (Akwa Ibom State)

Uyo local government is one of the wealthiest LGAs in Nigeria and the richest local government in Akwa Ibom State. Uyo LGA is a vibrant and prosperous urban centre that boasts diverse economic drivers, including transportation, sports, and industry.

It is an economic hub home to Victor Attar International Airport, the prestigious University of Uyo, and Godswill Akpabio International Stadium, among others.

Gross Domestic Products: $8 billion 

4. Eti-Osa LG (Lagos State)

Eti Osa, formerly the seat of the nation’s capital, is home to Nigeria’s president and the fourth-richest LGA in the country. It has some of the most pristine estates for rich Nigerians who fancy its affluence and luxurious lifestyle.

Its main economic drivers are business and industry, with most residents involved in farming, fishing, and trade. Eti Osa is also a commercial centre with a dense concentration of banks, clubs, hotels, and modern markets.

Some of the richest people in Africa, including Mike Adenuga and Aliko Dangote, as well as the richest woman in Nigeria, Folorunsho Alakija, have built homes in Eti-Osa Local Government Area.

Gross Domestic products: $10 billion 

3. Abuja Municipal Area Council LG (F.C.T.)

The Abuja Municipal Area is the nation’s capital, the third-richest LGA, and the eighth-most populous city in Nigeria. It serves as the residential centre for politicians, including members of parliament, kings, senators, businessmen/women and other prominent figures.

Its main economic driver is real estate. The city consists of massive skyscrapers, well-organized streets, and uniformly spaced residential quarters built based on a 1980s master plan by International Planning Associates (IPA).

It is also the headquarters for the main regional economic blocks, including the Organization of the Petroleum Exporting Countries (OPEC) and the Economic Community of West African States (ECOWAS).

Gross Domestic Products: $12 billion

2. Ikeja LG (Lagos State)

Ikeja is the capital of Lagos State and the second richest Local Government Area in Nigeria. Ikeja is renowned for its high-end shopping centres, hotels, and cutting-edge infrastructure.

It is a rich, busy commercial centre that houses Ikeja City Mall, Muritala Muhammed International Airport, and the State Government House.

The main economic drivers in Ikeja LGA are manufacturing, commerce, transportation, and real estate.

Gross Domestic Products: $19 billion 

1. Lagos Island LG (Lagos State)

Lagos Island is the principal and central local government area (LGA) in Lagos, it was the capital of Lagos State until 1957. It is part of the Lagos State Division. Lagos Island local government is one of the 20 local government areas in the state.

It is a financial, hospitality, and commercial hub with major Nigerian bank headquarters offices, real estate consultancy firms, corporations, and notable landmarks and tourist attractions such as Freedom Park, the National Museum, and Tom Jones Memorial Hall And Library.

Gross Domestic Product: $30 billion 

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