Lagos State leads Nigeria in 2025 revenue with N1.77 trillion

Lagos State dominated Nigeria’s subnational revenue landscape in 2025, generating N1.77 trillion in internally generated revenue (IGR). According to data from the National Bureau of Statistics (NBS), this figure accounts for approximately 34.4% of the N5.15 trillion total collected by Nigeria’s 36 states and the Federal Capital Territory (FCT), a 40.93% increase from the N3.65 trillion recorded in 2024.

Lagos’ revenue surpassed the combined IGR of 22 other states. Following Lagos, Rivers State recorded N428.42 billion, Enugu State N406.77 billion, the FCT N356.34 billion, and Ogun State N252.36 billion. The NBS report noted that tax revenue contributed N3.79 trillion to the national subnational total, while ministries, departments, and agencies (MDAs) contributed N1.36 trillion.

In addition to revenue dominance, Lagos and Ogun states attracted N1.74 trillion in industrial investments between 2024 and 2025. This represents 87.32% of the total industrial investment across all 36 states, highlighting the region's role as Nigeria’s primary manufacturing corridor due to its consumer market, port access, and business ecosystem.