Oyo State has been ranked among the top three best-performing sub-national economies in Nigeria in the 2025 Subnational Ease of Doing Business Report released by the Presidential Enabling Business Environment Council (PEBEC).
Reacting to the development, the Oyo State Commissioner for Information, Prince Dotun Oyelade, said the recognition reaffirmed the state’s rising economic profile and its status as a prime destination for investors.
Oyelade noted that for the third consecutive year, reputable institutions including the Nigeria Bureau of Statistics (NBS) and PEBEC have rated the state highly for its economic reforms and investor-friendly policies.
He highlighted significant growth in the state’s Internally Generated Revenue (IGR), which rose from less than ₦15 billion annually in 2019 to ₦65 billion in 2024, with projections to reach ₦100 billion by the end of 2025.
According to him, Oyo’s ranking was boosted by the government’s decision to expand the economy through agribusiness, infrastructure, and tourism rather than increasing taxes. He added that the monthly injection of ₦14.5 billion into the economy through salaries and wages for over 130,000 civil servants has helped sustain vibrant financial activity among low and middle-income earners.
The commissioner also pointed to the state’s extensive road infrastructure as a key driver of economic growth. Since 2019, the government has completed 411 kilometres of roads, with another 319 kilometres currently under construction. Strategic projects such as the Ibadan–Iseyin, Oyo–Iseyin, Ogbomoso–Iseyin, and the nearly completed Ibadan–Eruwa roads have opened new economic corridors, eased travel, boosted trade, and connected previously isolated communities to key markets.
Oyelade said the national recognition was the result of deliberate, transparent, and results-oriented leadership, adding that the ranking confirms Oyo State’s steady progress on a development-focused trajectory.
