Economic Viability of Lagos and Ogun States is Commendable
According to a report by Economic Confidential, a subsidiary of PR Nigeria, Ogun State stands out as one of Nigeria’s most economically viable states after Lagos, the country’s economic capital. The report, compiled from figures released by the Nigerian Bureau of Statistics and the Federal Account Allocation Committee, underscored Ogun State’s status as a prominent investment destination in the country.
Comparing financial figures, Ogun State received N113.4 billion from the Federation Account and generated N120.5 billion internally. This performance outstripped other states such as Rivers, Kaduna, Kwara, Oyo, and Edo, which also demonstrated considerable economic viability.
The report revealed that seven economically viable states, including Lagos and Ogun, generated a total Internally Generated Revenue (IGR) of N1.5 trillion in 2022, nearly twice the combined IGR of 29 other states that amounted to approximately N650 billion.
