Nigeria major source of revenue is the in the oil sector and this have made Nigeria one of the biggest oil producing countries in the world. We will reveal to you the top 5 richest oil producing states in Nigeria that makes us rank among the top countries.
Top 5 Richest oil Producing states in Nigeria
Nigeria is blessed with crude oil. There are 9 oil producing states in nigeria but only a few have been able to utilize it to generate more revenue for themselves.
The list from top to bottom is in the order of first to last.
Num 1: Lagos state
One might wonder why we put lagos state as the top. Lagos is 6th position in the 9 oil producing state in terms of capacity but we are looking at the revenue each of these oil producing state generates internally. Lagos state is the biggest state in terms of internally regenerated revenue with its 40,000 barrels daily estimate, and the state have an estimated N268 billion revenue as at 2016. This makes them the num 1 on the top 5 richest oil producing state in Nigeria
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Num 2: Rivers state
with an average of 340,000 barrels per day. The state have a GDP od $21.73 and a Per Capita of $3,965 and its estimated Revenue is at N80 Billion as at 2016.
Num 3: Delta state
Delta state happens to be the second oil producing state in Nigeria because of its 346,000 barrels per day and has an estimated N40 Billion revenue.
Num 4: Edo state
Edo state is the 7th largest oil producing state in Nigeria and thus have a N19.1 Billion in revenue. The state is allso blessed with other resources such Limestone and Quarry. This makes Edo state the the 4th position in our top 5 richest Oil producing state in Nigeria.
Num 5: Akwa Ibom state
Akwa Ibom has a total of 500,000 Barrels produced in a day and this makes it generate an estimated figure of N16 Billion in revenue as at 2016.
There are other oil producing state in Nigeria like Abia, Bayelsa, Imo etc. Bayelsa is the 4th most oil producing state in Nigeria. The top 5 richest oil producing state in Nigeria list is not just the revenue they make through oil but other revenue channels. this is why Lagos state is the number one. Lagos have several revenue channels such as Oil, Tax, Airport, Seaport, Boarder etc. This is what makes Lagos sate the top on the list.