This is largely because Nigeria has a massive oil reserve and has exploited this resource for decades.
However, the oil from Nigeria typically comes from just a sub-section of the country and does not account for the country’s entire wealth.
While small in comparison, other sectors have done well to generate some revenue for the country. The amount that other sectors generate is fairly substantial thanks to the economic contributions of other non-oil-producing states.
Lagos immediately comes to mind when you think about states in Nigeria that contributes soo much to the GDP of the entire country, without an oil quota.
However, the GDP of a region defers from the GDP per capita of said region. Also, development levels and a general standard of living typically dictate an area’s overall success.
This is the reason why Lagos was not listed as the richest city in the National Bureau of Statistics’ recent report, aptly dubbed MULTIDIMENSIONAL POVERTY INDEX (2022).
The bureau categorized each state in this report based on its Multidimensional Poverty Index(MPI). The MPI is in itself determined by four key indicators, including health, education, living standards, and work and shocks.