Lagos State generated the highest revenue among Nigerian states in 2025, raking in N2.63 trillion, according to the latest figures released by Agora Policy and TheCable Index.

The data showed that Delta State ranked second with N1.45 trillion, followed by Akwa Ibom State with N1.13 trillion, reinforcing the strong revenue performance of oil-producing states.

Bayelsa State came fourth with N976.9 billion, while Enugu State ranked fifth, generating N665.9 billion to emerge as the highest-earning state outside the traditional oil-producing belt.

In the mid-tier of the ranking, Edo State recorded N511.2 billion, followed closely by Kano State with N486.8 billion.

Oyo State posted N467.9 billion in revenue, while Ogun State generated N436.5 billion to secure the ninth position.

Rounding out the top 10 is Anambra State with N390.3 billion.

The rankings highlight a continued dominance of oil-rich states in Nigeria’s revenue landscape, while also underscoring the growing fiscal capacity of select non-oil states driven by internal revenue generation and economic diversification efforts.