Nigeria is home to 36 states and 774 local governments across the federation and boasts some of the richest local governments not just in the country but in Africa.
Most of the rich local governments in Nigeria are self-sustaining and generate tons of revenue for their respective states. So rich are these local governments that they play super important roles to not only its people but also its state governments.
Some parameters for being the richest local governments in Nigeria include multinational company presence, airports, mineral resources, tax collections, vehicle licensing, trade, among a host of others.
Top 10 Richest Local Government in Nigeria
Below are the 10 richest local government areas based on aforementioned listed parameters, according to Gistah:
1. Lagos Island Local Government Area
The Lagos Island LGA, more commonly known as “Island” or “Isale Eko” to Lagosians, is the richest local government in Nigeria. As its name rightly suggests, the Lagos Island LGA is a local government in Nigeria’s most populous and economic state and former capital of the country, Lagos.
Located in the Southwestern part of the country, Lagos Island is the principal and central local government area in Lagos, with about 200,000 residents of the state’s population residing in this part alone.
Formerly referred to as the “Brazilian Quarters” for being home to Brazilians during the slave trade, the Lagos Island LGA serves as the head office/headquarter of almost every bank operating in Nigeria and some other multinational organizations. Some other medium and large-scale businesses in the real estate and manufacturing industries have found a way to make the LG their base.
Other than being notable for being home to industries and multinational businesses, small and medium enterprise businesses around the LGA is second to none.
The Lagos Island LGA is the richest local government area in Nigeria and the richest local government area in Lagos State.
2. Ikeja Local Government Area
The Ikeja LGA is the second richest local government area in Nigeria and Lagos. While it may not be home to most corporate organizations and may not serve as their head offices, the Ikeja LGA is famous for commercial activities and notable for being one of the most planned LGAs in the country.
Situated in the mainland part of Lagos, unlike the Lagos Island LGA, the Ikeja LGA hosts Nigeria’s and Africa’s busiest and most popular Muritala Mohammed International Airport, also known as MMIA.
The Lagos State Government House is situated in the LGA. Of course, one can hardly mention businesses in this area without mentioning the renowned Computer Village, known as the tech hub for gadgets and tech accessories, with over 3,000 businesses and shops thriving in the tech market.
The Ikeja Computer Village is Nigeria’s busiest and largest computer market, and it began its operations in 1997 as a small market with about ten shops. The Computer Village has expanded into a large market with 3000 shops and registered businesses and serves as home to some tech brand melting pots.
3. Abuja Municipal Local Government Area
The Abuja Municipal Local Government Area may not exactly be known for trading like the aforementioned, but it is the most powerful Local Government Area in the country as it is the official seat of every Nigerian president, as well as the country’s National Assembly.
The Abuja Municipal Local Government Area serves as the headquarter for the Organization of the Petroleum Exporting Countries (OPEC), as well as the Economic Community of West African States (ECOWAS). It is also home to some multinational hospitality businesses such as Sheraton and NICON Hilton Hotels.
4. Eti Osa Local Government Area
The Eti Osa Local Government Area is home to the Awori tribe, a sub-group of the Yoruba ethnic group and undoubtedly one of the most popular Local Government Areas in Lagos and Nigeria.
While the LGA’s name might not ring a bell immediately, some areas within it such as Victoria Island, Lekki and Banana Island are undoubtedly names of places that stand out amongst other places in Nigeria.
Eti Osa and Lagos Island once served as Nigeria’s capital and the seat of the country’s president before it was moved to Abuja.
Eti-Osa has very little industry. The majority of residents are involved in fishing, farming, and trading. On the other hand, it is home to many large domestic and international businesses due to its former location as the nation’s capital.
Some of the richest men in Nigeria and Africa such as Aliko Dangote and Wale Adenuga live in Eti Osa Local Government Area.
5. Ibeju-Lekki Local Government Area
Ibeju-Lekki is another noteworthy local government area in Lagos State, located after Eti-Osa.
Ibeju-Lekki is famous in Lagos for housing several estates, gardens, and other recreational facilities. It is also notable for its thriving real estate businesses and ventures.
Ibeju-Lekki is also a commercial trade zone with a 12 MW independent power plant under construction by the China-Africa Lake Investment Limited.
There are ongoing and proposed industrial developments in Ibeju Lekki, such as the Dangote Refinery, which is expected to be the world’s largest single-train facility and will cost $9 billion. It spans a total of 2,635 hectares on the Lekki Free Zone near the Lekki Lagoon, allowing for easy shipment of refined petroleum products to international markets.
6. Uyo Local Government Area
The Uyo Local Government Area is home to the Ibibio ethnic group, and it is one of the richest local governments in the South-South region of Nigeria.
Just as it is a local government area in Akwa Ibom State, Uyo is also the state capital and is home to some oil servicing companies.
The Uyo local government area is the richest local government in Akwa Ibom.
7. Calabar Municipal
Calabar Municipal is one of Nigeria’s wealthiest LGAs, located in Cross Rivers state. It has a land area of 142 km2 and a population of over 179,392 according to the 2006 census. It boasts of some of Nigeria’s tourist destinations such as the Obudu Cattle Ranch and the Calabar Tinapa Resort.
The Municipal is home to manufacturing, engineering and pharmaceutical companies.
8. Bonny Local Government Area
The Bonny local government area is undoubtedly the richest local government area in Rivers State and one of the most near-independent islands in Nigeria.
Known for its unrivaled infrastructural development and said to be on near-constant electricity with power only going out for a few minutes every day.
Historically (most importantly between the 15th and 19th centuries), Bonny was an important trading post of the eastern Delta, where slaves were sold.
Bonny Island is a significant oil export point in Nigeria and the region produces a type of crude oil referred to as the “Bonny Light Oil”.
A lot of the oils extracted onshore in Rivers State are channeled to Bonny for export. Bonny currently has the biggest liquified natural gas (LNG) gas plant in Nigeria, with six trains.
Bonny local government area is the richest local government in Rivers State.
9. Obi-Akpor Local Government Area
Obio Akpor local government area stands out in almost every area. It is undoubtedly one of the major points of economic activities in Nigeria and a major city in the South-South, or the Niger-Delta region of Rivers State.
Obio Akpor is home to the Ikwerre ethnic group, a sub-group of the Igbo ethnic group, one of Nigeria’s three major ethnic groups.
As with most areas in the South-South or Niger-Delta, oil and gas are some of nature’s gift to the area and its people. Oil and gas freely flow from the soils of Obio Akpor that illegal oil bunkering is a major business in the area.
In addition, there are a handful of oil companies found in the Nigeria and it is believed that majority of the oil in Nigeria are from Obio Akpor.
With its abundance of oil and gas, Obio-Akpor is the second richest local government area in Rivers State, just after Bonny local government area.
10. Ibadan Northwest Local Government Area
The ancient city of Ibadan is the largest city in Nigeria and Africa and one of the developing cities on the continent.
While oil and gas may not be found in the Ibadan Northwest local government area, as with most local government areas on this list, trade is the area’s biggest strength. The booming trade in the area over the years has given rise to the Agbeni and Eleyele markets, making them popular and prominent across the ancient city.
In addition, Ibadan Northwest local government is home to a few industries such as manufacturing, and hospitality.