Are you searching for the top 5 richest states in Yoruba land in 2025? You’re not alone. Many Nigerians want to know which southwestern states are leading in revenue, business opportunities, and infrastructure development.
This guide covers the richest Yoruba states today based on Internally Generated Revenue (IGR), economic activities, industries, infrastructure, and investments. Whether you’re an investor, student, analyst, or curious citizen, this detailed list will give you the latest breakdown of the wealthiest Yoruba-speaking states.
What Is Yoruba Land in Nigeria?
Yoruba land refers to the southwestern region of Nigeria predominantly occupied by the Yoruba ethnic group. It consists of the following states:
Lagos
Ogun
Oyo
Osun
Ondo
Ekiti
Parts of Kwara and Kogi (Yoruba-speaking communities)
In this article, we’ll focus on the six core southwestern Yoruba states recognized politically and culturally as Yoruba land.
Ranking Criteria for Richest Yoruba States in 2025
To determine the top 5 richest Yoruba states in Nigeria in 2025, we considered:
Internally Generated Revenue (IGR)
Industrial and commercial activity
Infrastructure and urban development
Foreign and local investment
Population and workforce
Tech, transport, and real estate performance
1. Lagos State – The Economic Powerhouse of Africa
Why Lagos Remains the Richest Yoruba State in 2025:
Lagos is not just the richest Yoruba state — it's also Nigeria’s economic engine, contributing over 30% of the nation’s GDP.
Key Highlights:
IGR (2025): ₦800 billion+
Major Industries: Finance, tech, real estate, transportation, media
Major Cities: Lagos Island, Ikeja, Lekki, Ikorodu, Ajah
Projects: Lekki Deep Sea Port, Blue Rail Line, Eko Atlantic, Dangote Refinery
What Makes Lagos Stand Out:
Home to most corporate headquarters, sea ports, banks, and tech startups in Nigeria, Lagos attracts local and global investments. Its tax base is huge, and its population of over 20 million keeps the economy active 24/7.
2. Ogun State – The Industrial Heart of Southwest Nigeria
Why Ogun Is Among the Richest Yoruba States in 2025:
Ogun is now Nigeria’s top industrial state in terms of active factories and industrial parks. Thanks to proximity to Lagos, many companies set up manufacturing plants in Ogun due to cheaper land and tax advantages.
Key Highlights:
IGR (2025): ₦130 billion – ₦150 billion
Major Industries: Cement, food production, plastics, automobile, real estate
Industrial Areas: Ota, Agbara, Ibafo, Sagamu, Abeokuta
Projects: Gateway Agro-Cargo Airport, Dry Ports, Industrial Clusters
Ogun’s Competitive Edge:
The presence of multinationals like Nestlé, Lafarge, Procter & Gamble, and Dangote Cement has helped Ogun maintain strong IGR figures and job creation across local governments.
3. Oyo State – A Growing Commercial and Agricultural Hub
Why Oyo Is in the Top 3:
Oyo State combines urban development (Ibadan) with massive agricultural capacity. It is home to one of Nigeria’s biggest cities and boasts a mix of commerce, education, and food processing.
Key Highlights:
IGR (2025): ₦110 billion – ₦125 billion
Major Cities: Ibadan, Ogbomosho, Oyo Town, Iseyin
Main Sectors: Agro-processing, education, transportation, wholesale markets
Projects: Ibadan Inland Dry Port, Circular Road Project, Agritech Zones
Oyo’s Economic Boosters:
With the rise of dry ports, food processing plants, and improved transport, Oyo continues to attract manufacturing firms while sustaining its role in Nigeria’s food supply chain.
4. Ondo State – Oil and Agricultural Strength
Why Ondo Makes the Top 5 Richest States in Yoruba Land:
Ondo is the only core Yoruba state with significant oil production, making it an important revenue contributor. It also thrives on cocoa, timber, palm oil, and bitumen.
Key Highlights:
IGR (2025): ₦45 billion – ₦60 billion
Major Cities: Akure, Owo, Ondo, Ikare-Akoko
Economic Strengths: Oil, Agriculture, Forestry, Bitumen
Projects: Deep Seaport Development Plan, Sunshine Agro-Allied Parks
What Lifts Ondo Economically:
Ondo’s mix of oil revenue and exportable agricultural produce keeps it competitive. The state is also exploring bitumen reserves and renewable energy projects.
5. Osun State – The Tourism and Mining Rising Star
Why Osun Is Among Yoruba Land’s Richest in 2025:
Osun may be smaller in size and population, but it is blessed with mineral resources and a growing tourism economy. It also has strong links to arts and culture exports.
Key Highlights:
IGR (2025): ₦35 billion – ₦42 billion
Main Towns: Osogbo, Ilesa, Ile-Ife, Ede
Key Sectors: Gold mining, tourism, cocoa farming, crafts
Projects: Osun Gold Mining Hub, Ife Cultural Renaissance Zone
What Keeps Osun Moving:
The state has intensified efforts in gold mining and local tourism, making it attractive for youth employment and private sector partnerships.
Internally Generated Revenue Comparison Table (2025)
| Yoruba State | Estimated IGR (₦) | Economic Focus |
|---|---|---|
| Lagos | ₦800bn+ | Trade, tech, finance, services |
| Ogun | ₦130bn – ₦150bn | Manufacturing, real estate |
| Oyo | ₦110bn – ₦125bn | Agriculture, logistics, commerce |
| Ondo | ₦45bn – ₦60bn | Oil, timber, cocoa |
| Osun | ₦35bn – ₦42bn | Mining, tourism, farming |
What About Ekiti, Kwara & Kogi?
While not in the top 5, these Yoruba-speaking states are growing steadily:
Ekiti: Focused on education, tourism, and digital innovation.
Kwara: Balanced between agriculture and civil service with growing urban centers like Ilorin.
Kogi (Yoruba parts): Rich in mineral resources but underutilized.
They are not yet among the top 5 by IGR but hold significant potential.
FAQs – Richest Yoruba States in Nigeria 2025
Which Yoruba state is the richest in 2025?
Lagos is the richest Yoruba state — and the richest state in Nigeria overall — with over ₦800 billion in IGR.
Why is Ogun State so industrialized?
Due to its closeness to Lagos, affordable land, and business-friendly policies, Ogun hosts many factories and industrial parks.
Does Oyo State have oil?
No, but Oyo has strong agriculture, logistics, and educational infrastructure.
Which Yoruba state has the most tourism sites?
Osun and Ondo are leading in tourism due to cultural festivals and nature reserves.
Is Ekiti a rich Yoruba state?
Ekiti is rich in human capital and education but still building its economic output and IGR figures.
Final Thoughts: Top 5 Richest States in Yoruba Land in 2025
The top 5 richest states in Yoruba land in 2025 reflect a strong regional economy rooted in industry, trade, agriculture, and culture. Lagos leads as a global megacity, Ogun follows as Nigeria’s industrial hub, while Oyo, Ondo, and Osun each bring unique strengths to the table.
As federal allocation becomes less reliable, these Yoruba states are proving the value of internally generated revenue and homegrown development strategies.
If you’re planning to invest, relocate, or study Nigeria’s economy, Yoruba land is full of opportunities — and these top 5 states are at the heart of that success.