Government budget and revenue in Ondo, Nigeria: official figures

Ondo raised ₦60.3 billion of its own revenue (taxes plus fees and charges from its ministries and agencies) in 2025, 1.2% of the ₦5.15 trillion raised by all states and the FCT; 17th highest of the 36 states and the FCT. That was up 24.0% on 2024 (₦48.6 billion).

Where does Ondo's own revenue come from?

Taxes made up 86% of that revenue, and pay-as-you-earn income tax on wages alone brought in ₦24.4 billion, 47% of the tax take.

Source: National Bureau of Statistics · saved copy

How much does Ondo get from FAAC?

The Ondo government received ₦24.7 billion net from the Federation Account Allocation Committee in July 2026 (shared from June revenue), 10th largest of the 36 states. The gross allocation of ₦25.9 billion included ₦10.3 billion of statutory allocation, ₦4.5 billion from the 13% oil derivation fund and ₦9.2 billion of VAT; ₦319.12 million was deducted at source for external debt service.

Source: National Bureau of Statistics · saved copy

How much do local governments in Ondo receive?

In July 2026 Ondo's 18 local government councils shared ₦13.8 billion from the federation account, 14th smallest of the 36 states and the FCT.

Source: National Bureau of Statistics · saved copy

How much debt does Ondo have?

The Ondo government owed ₦6.2 billion in domestic debt on 30 June 2026, 0.1% of all state and FCT domestic debt and 2nd smallest of the 36 states and the FCT; that is about ₦1,136 per resident and 0.1 times its own revenue in 2025.

Source: Debt Management Office · saved copy

How much foreign debt does Ondo owe?

Its external debt stood at $132.89 million on 30 June 2026 (provisional), 1.9% of the states' and FCT's $6.8 billion and 19th largest of the 36 states and the FCT.

Source: Debt Management Office · saved copy

More figures

In 2019 Ondo raised ₦30.1 billion, so its own revenue has grown 100% in six years, before allowing for inflation. Shared money from the federation account (FAAC) is not included in these figures. Source: National Bureau of Statistics · saved copy

How Ondo compares with other states

Internally generated revenue (2025)

Ondo ranks 17 of 37, highest first.

Rank	Region	Internally generated revenue
14	Jigawa	₦66.7 billion
15	Niger	₦66.4 billion
16	Katsina	₦64.3 billion
17	Ondo	₦60.3 billion
18	Cross River	₦58.6 billion
19	Ekiti	₦57.1 billion
20	Anambra	₦57.0 billion

Source: National Bureau of Statistics · saved copy

Domestic debt of the state government (Jun 2026)

Ondo ranks 36 of 37, highest first.

Rank	Region	Domestic debt of the state government
31	Kogi	₦25.4 billion
32	Kebbi	₦14.4 billion
33	Katsina	₦13.8 billion
34	Ebonyi	₦11.4 billion
35	Anambra	₦9.6 billion
36	Ondo	₦6.2 billion
37	Jigawa	₦1.0 billion

Source: Debt Management Office · saved copy

More on Ondo: overview · economy and jobs · health · education and schools · poverty and living standards · Nigeria

Sources

Debt Management Office: Domestic debt data for the 36 states and the FCT as at June 30, 2026, read 23 October 2026 · saved copy (SHA-256 17e59a86a5ba…)
Debt Management Office: States, FCT and Federal Government's external debt stock as at June 30, 2026 (provisional), read 23 October 2026 · saved copy (SHA-256 56a465c0c569…)
National Bureau of Statistics: FAAC Disbursement July 2026 (June 2026 revenue): Table III state governments and LGC summary (Office of the Accountant-General of the Federation data), read 23 October 2026 · saved copy (SHA-256 7de8f58a0d10…)
National Bureau of Statistics: Internally Generated Revenue at State Level 2025, with data for 2019-2025 (IGR_DATA_2019_2025.xlsx), read 23 October 2026 · saved copy (SHA-256 e3710744bb15…)

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