10 Richest cities in Nigeria (2024)

Nigeria, located in West Africa, is a country known for its rich natural resources, diverse culture, and growing economy. Within this vast nation, several cities have emerged as centres of economic prowess, generating substantial wealth and contributing to the overall development of the country.

In this article, we will take a closer look at the top 10 richest cities in Nigeria, based on their estimated GDP (Gross Domestic Product) in billions of dollars.

Richest cities in Nigeria and their GDP

RankCityGDP
1Lagos$88 billion
2Abuja$47 billion
3Port Harcourt$13 billion
4Ibadan$8 billion
5Kano$6 billion
6Onitsha$5.5 billion
7Kaduna$5 billion
8Aba$4.5 billion
9Onitcha$4 billion
10Abeokuta$3.4 billion

1. Lagos

At the top of the list is Lagos, the largest city in Nigeria and the economic heartbeat of the country. Lagos, often referred to as the “City of Excellence,” has a staggering estimated GDP of $88 billion, making it the wealthiest city in Nigeria.

The city is known for its vibrant business environment, bustling ports, and robust financial and real estate sectors. Lagos is a melting pot of cultures, attracting local and international investors, entrepreneurs, and professionals alike. With its strategic location, world-class infrastructure, and dynamic population, Lagos continues to be a major economic force driving Nigeria’s growth.

2. Abuja

Next on the list is Abuja, the capital city of Nigeria. As the political centre of the country, Abuja houses the Nigerian government, foreign embassies, and international organizations. However, it is not just the political significance that makes Abuja a wealthy city. Abuja also boasts a thriving economy, with an estimated GDP of $47 billion.

The city has witnessed rapid development in recent years, with investments pouring into sectors such as real estate, construction, hospitality, and telecommunications. Abuja’s growing middle class and increasing consumer spending have contributed to its economic prosperity, making it a significant economic powerhouse in Nigeria.

3. Port Harcourt

Port Harcourt, located in the Niger Delta region of Nigeria, is a city synonymous with the oil and gas industry. The city is home to numerous oil and gas companies, including refineries, exploration and production firms, and petrochemical plants. Port Harcourt’s estimated GDP is $13 billion, driven by the oil and gas sector and associated industries.

Despite challenges such as environmental concerns and security issues, Port Harcourt remains a critical economic hub, generating substantial wealth and employment opportunities.

4. Ibadan

Ibadan, the capital of Oyo State, is one of the oldest cities in Nigeria and has a rich history of trade and commerce. The city is known for its vibrant markets, with a strong emphasis on agriculture, textiles, and handicrafts. Ibadan is also a major centre of education in Nigeria, with several universities and educational institutions.

These factors have contributed to its estimated GDP of $8 billion, making it one of the wealthiest cities in Nigeria.

5. Kano

Kano, located in northern Nigeria, has a long-standing reputation as a commercial and industrial hub. The city is known for its bustling markets, such as the Kofar Wambai Market, which is famous for its textiles, leather goods, and agricultural produce. Kano is also home to a variety of manufacturing and processing industries, including textiles, food processing, and cement production.

With an estimated GDP of $6 billion, Kano continues to be a major economic centre in Nigeria, driving trade and commerce in the region.

6. Benin City

Benin City, located in Edo State, is a city steeped in rich cultural and historical heritage. The city is known for its ancient artefacts, arts, and crafts, which attract tourists and generate revenue for the local economy. Benin City also has a thriving trade and commerce scene, with a strong emphasis on agriculture, manufacturing, and the oil and gas industry.

The estimated GDP of Benin City is $5.5 billion, making it one of the wealthiest cities in Nigeria. The city’s cultural and historical significance, combined with its economic activities, contribute to its overall economic prosperity.

7. Kaduna

Kaduna, located in northern Nigeria, is known for its diverse industrial base and robust transportation infrastructure. The city houses several manufacturing and processing industries, including textiles, automotive, and steel production. Kaduna is also a major transportation hub, with a well-developed rail and road network that connects it to other parts of Nigeria.

These factors have contributed to its estimated GDP of $5 billion, making it one of the wealthiest cities in Nigeria. Kaduna’s industrial and transportation sectors are key drivers of its economic growth, creating job opportunities and stimulating economic activities in the region.

8. Aba

Aba, located in Abia State, is known as a major manufacturing and trade centre in Nigeria. The city is known for its vibrant textile and garment manufacturing industry, producing goods such as clothing, shoes, and accessories. Aba is also a hub for small and medium enterprises (SMEs), with a strong presence of traders, artisans, and entrepreneurs engaged in various businesses.

The estimated GDP of Aba is $4.5 billion, driven by its manufacturing and trade activities. The city’s entrepreneurial spirit and manufacturing prowess have contributed to its economic success, making it one of the wealthiest cities in Nigeria.

9. Onitsha

Onitsha, located in Anambra State, is known for its bustling markets and vibrant commercial activities. The city is a major trading centre, with a wide range of goods being bought and sold in its markets, such as textiles, electronics, and household goods. Onitsha also has a strong presence of small and medium-sized enterprises (SMEs) engaged in various businesses.

The estimated GDP of Onitsha is $4 billion, making it one of the wealthiest cities in Nigeria. The city’s robust trading and commercial activities have contributed to its economic prosperity, creating employment opportunities and driving economic growth.

10. Abeokuta

Abeokuta, located in Ogun State, is known for its agricultural and manufacturing activities. The city is a major centre for rice production, with a significant number of rice mills and processing plants. Abeokuta also has a growing manufacturing sector, with companies engaged in food processing, textiles, and other manufacturing activities.

The estimated GDP of Abeokuta is $3.4 billion, driven by its agricultural and manufacturing sectors. The city’s focus on agriculture and manufacturing has contributed to its economic growth, creating opportunities for farmers and manufacturers, and stimulating economic activities in the region.

Conclusion

Nigeria, as a country, is home to several cities that have emerged as economic powerhouses, contributing significantly to the overall development and growth of the nation. Lagos, with its diverse business environment and robust financial and real estate sectors, leads the pack as the wealthiest city in Nigeria with an estimated GDP of $88 billion.

Other cities such as Abuja, Port Harcourt, Ibadan, Kano, Benin City, Kaduna, Aba, Onitsha, and Abeokuta also boast significant wealth and economic activities in various sectors such as oil and gas, manufacturing, agriculture, trade, and commerce.

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Richard Okoroafor

Richard Okoroafor

Richard is a brilliant legal content writer who doubles as a finance lawyer. He brings his wealth of legal knowledge in corporate commercial transactions to bear, offering the best value that exceeds expectations.

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