The executive arm of government in Nigeria is broken down into 3 parts: the federal government, the state governments, and the local governments. The federal government oversees the whole, while the local government is the smallest unit, usually made up of a small catchment of towns and cities. Unfortunately, rather than execute projects that benefit the people, the local governments primarily concern themselves with taxing the citizens, making as much money off the people who in many areas are just struggling to survive.
The purpose of this article is to see which among the 750 local governments in Nigeria are raking in the most money. We want to find out what local governments in Nigeria are profiting the most either from an abundance of natural resources or from the entrepreneurial spirit of the inhabitants whom they tax non-stop. Without any further ado, we now present the top 10 richest local governments in Nigeria.
Richest Local Governments In Nigeria 2020
1. Lagos Island Local Government
Lagos Island, which is also called Isale Eko is the oldest, the principal and the central part of Lagos. This is also the economic capital of the whole of Nigeria. This is the area where the head offices of most financial institutions in the country are located. Banks, insurance companies, stockbroking firms, registrars, and such companies and enterprises that deal with financial matters. Other highlights of Lagos Island are the CMS church which is the oldest Cathedral in Nigeria, and the CMS bookshop house, as well as the Nigerian Ports Authority head office. Adjoining Lagos Island is the Apapa Wharf, and very close are Lekki and Ikoyi which are high brow areas in the state. Lagos Island is the most economically vibrant area in Nigeria.
2. Ikeja Local Government, Lagos
Ikeja is the capital of Lagos state. This area is an extremely well planned out locality that offers a beautiful blend of residential and commercial buildings. Some towns that makeup Ikeja are Alausa, Opebi, Oregun, Agidingbi, and GRA. Commercially you will find Computer Village, Muritala Muhammad International Airport (which is the busiest in West Africa), Ikeja City Mall (which is popularly called Shoprite), Fela Kuti’s Africa Shrine as well as Lagbaja’s Motherland arena. The Lagos State Television is also located in Ikeja.
3. Abuja Municipal Local Government
Abuja Municipal Local Government would have been the richest local government in Nigeria if political money were to count. In any case, it is the most powerful local government area in Nigeria. This is the seat of the Presidency, the Senate, and the House Of Representatives. Here we also have the headquarters of ECOWAS and the regional headquarters of OPEC. Here there are also many fine 5 star hotels including Sheraton Hotels and Nicon Hilton Hotels. The Local Government area is characterized by well-spaced, tall, and exquisite buildings, well-built roads, and a beautiful environment.
4. Eti – Osa Local Government, Lagos
Eti – Osa is very close to Lagos Island. This is where you have the city of Lekki, which is one of the most expensive places in Nigeria to live. Apart from Lekki you also have Victoria Island, Victoria Garden City, Ikoyi, and Lekki Lagoon. This is where some of the richest people in the country live; Aliko Dangote, Folorunsho Alakija, and Linda Ikeji all live within a mile of each other. Real estate is a thriving business in the area, especially as there are many expatriates living in well-furnished homes in the area. There are also Shoprite’s, as well as many other companies in the area, making money on a daily basis.
5. Ibeju – Lekki Local Government, Lagos
Ibeju – Lekki is another Local Government Area in Lagos with a lot of money in circulation. Geographically it adjoins Eti – Osa Local Government and enjoys the same concentration of high net worth individuals as residents. They live in the numerous estates and gardens that are and continue to spring up in that axis. Ibeju – Lekki will get even richer in the coming years, as the Lekki Free Trade Zone is still under construction, and there is also a 12 MW independent power plant under construction in the area as well.
6. Uyo Local Government, Akwa Ibom State
Uyo Local Government is a dream that is gradually taking shape. There is a deliberate turn of this place into London of a sort, and with the beautiful layout and planning comes a lot of financial investment in the area. This is the capital of Akwa Ibom and has a lot to talk about. There is the Godswill Akpabio international stadium, the Akwa Ibom General Hospital which is said to be the biggest hospital in West Africa, and an eight-lane superhighway named after Edet Akpan. There are many beautiful buildings in the locality. As you already know, the Akwa Ibom state is known for hospitality and is welcoming to everyone regardless of nationality or ethnicity. Uyo Local Government is home to some of the finest hotels you can find in the country.
7. Calabar Municipal Local Government
The Calabar Municipal Local Government is another wealthy local government area in Nigeria, and proof that there is money in tourism. Some of the assets that constantly bring in money to the local government area are Tinapa, which is a free trade zone and resort center, as well as the Obudu Cattle Ranch, which is a historical landmark, as well as a resort center of grand proportions. The Obudu Cattle Ranch is a highly monetized venture, vastly popular, and highly patronized by patrons, both local and international.
8. Bonny Island, Rivers State
Bonny Island is a national asset. It is geographically located at the southern tip of Rivers State and produces oil and gas in quantum. The local government area also houses the Nigerian Liquefied Natural Gas plant (NLNG) and supplies natural gas via pipes to all corners of the country. Of course, you will find all kinds of companies that operate in the oil servicing industry, as they too hustle to get a share of the national cake. The residential areas are serene, and there are mostly gardens and estates.
9. Obio Okpor, Rivers State
Similar to Bonny Island is Obio Okpor Local Government area in Rivers state, which is the economic pulse of Nigeria. This is where most of the oil in Nigeria is refined and pumped from. The only catch is that the revenue from this local government area basically goes directly to the purse of the Federal Government of Nigeria. Fortunately, however, there are oil servicing companies in Rumuodaya which is the capital of the area, as well as in many other towns in the area. The natives of the town are the Ikwerre people, but the area has turned into a metropolis, inhabiting people from all ethnicities and nationalities. There are beautiful estates, gardens, hotels, restaurants, and hospitals in the area.
10. Ibadan North West, Oyo State
Ibadan North West, in Oyo State, is a part of one of the oldest cities in Nigeria which is Ibadan. Ibadan is also the largest city in Nigeria, and Ibadan North West is in the center of the city. Here you find the first television station in West Africa, the first railway line, and the first sky scrapper. The biggest shopping mall in Nigeria is also found here, and it is worthy of mention that it is not the only big shopping center in the area.
It can be seen in the article, wealth is not very evenly spread in the country, and wealth is often generated by people, not by resources. Some places have dearly sort after natural resources, but because people are not directly involved in its exploitation, there is not much money (wealth) in circulation. Therefore, the place does not develop as quickly, and the place does not reach its full potential.
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