Government budget and revenue in Oyo, Nigeria: official figures
Oyo raised ₦103.2 billion of its own revenue (taxes plus fees and charges from its ministries and agencies) in 2025, 2.0% of the ₦5.15 trillion raised by all states and the FCT; 8th highest of the 36 states and the FCT. That was up 58.1% on 2024 (₦65.3 billion).
Where does Oyo's own revenue come from?
Taxes made up 81% of that revenue, and pay-as-you-earn income tax on wages alone brought in ₦59.1 billion, 71% of the tax take.
Source: National Bureau of Statistics · saved copyHow much does Oyo get from FAAC?
The Oyo government received ₦29.4 billion net from the Federation Account Allocation Committee in July 2026 (shared from June revenue), 7th largest of the 36 states. The gross allocation of ₦32.0 billion included ₦12.4 billion of statutory allocation and ₦17.3 billion of VAT; ₦1.4 billion was deducted at source for external debt service.
Source: National Bureau of Statistics · saved copyHow much do local governments in Oyo receive?
In July 2026 Oyo's 33 local government councils shared ₦27.9 billion from the federation account, 4th largest of the 36 states and the FCT.
Source: National Bureau of Statistics · saved copyHow much debt does Oyo have?
The Oyo government owed ₦66.4 billion in domestic debt on 30 June 2026, 1.4% of all state and FCT domestic debt and 18th smallest of the 36 states and the FCT; that is about ₦8,170 per resident and 0.6 times its own revenue in 2025.
Source: Debt Management Office · saved copyHow much foreign debt does Oyo owe?
Its external debt stood at $108.61 million on 30 June 2026 (provisional), 1.6% of the states' and FCT's $6.8 billion and 15th smallest of the 36 states and the FCT.
Source: Debt Management Office · saved copyMore figures
- In 2019 Oyo raised ₦26.6 billion, so its own revenue has grown 288% 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 Oyo compares with other states
Internally generated revenue (2025)
Oyo ranks 8 of 37, highest first.
| Rank | Region | Internally generated revenue |
|---|---|---|
| 5 | Ogun | ₦252.4 billion |
| 6 | Delta | ₦202.5 billion |
| 7 | Edo | ₦132.2 billion |
| 8 | Oyo | ₦103.2 billion |
| 9 | Kano | ₦102.3 billion |
| 10 | Akwa Ibom | ₦100.8 billion |
| 11 | Kwara | ₦95.4 billion |
Domestic debt of the state government (Jun 2026)
Oyo ranks 20 of 37, highest first.
| Rank | Region | Domestic debt of the state government |
|---|---|---|
| 17 | Taraba | ₦75.9 billion |
| 18 | Enugu | ₦74.5 billion |
| 19 | Borno | ₦72.7 billion |
| 20 | Oyo | ₦66.4 billion |
| 21 | Gombe | ₦64.9 billion |
| 22 | Plateau | ₦59.4 billion |
| 23 | Kano | ₦51.2 billion |
More on Oyo: 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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