Economy, jobs and prices in Oyo, Nigeria: official figures
6.6% of people in Oyo are poor and live with an unemployed adult, and 6.7% are poor and live with an underemployed adult (2021/22).
What is the inflation rate in Oyo?
Consumer prices in Oyo were 17.98% higher in September 2026 than a year earlier, 6th highest of the 36 states and the FCT (Nigeria: 14.63%).
Source: National Bureau of Statistics · saved copyHow fast are food prices rising in Oyo?
Food prices in Oyo were up 24.45% on September 2025, 9th highest of the 36 states and the FCT (Nigeria: 19.59%).
Source: National Bureau of Statistics · saved copyHow much is petrol in Oyo?
Petrol cost an average of ₦1,639.97 a litre in Oyo in May 2026, 10th most expensive of the 36 states and the FCT (national average ₦1,596.25); a year earlier it was ₦1,038.01.
Source: National Bureau of Statistics · saved copyHow much does it cost to eat healthily in Oyo?
The cheapest healthy diet cost ₦1,501 per person per day in Oyo in April 2026, about ₦45,024 a month, 13th cheapest of the 36 states and the FCT (national average ₦1,589).
Source: National Bureau of Statistics · saved copyHow many homes in Oyo have electricity?
74.5% of households in Oyo had electricity in 2021 (71.9% from the national grid, 2.6% off-grid), 12th highest of the 36 states and the FCT (Nigeria: 63.5%).
Source: National Bureau of Statistics · saved copyHow many people in Oyo use the internet?
There were 6,595,510 active internet subscriptions in Oyo at the end of 2025, up 3.9% on a year earlier, and 7,928,864 active voice lines. That is about 81 internet subscriptions per 100 residents, 8th highest of the 36 states and the FCT (one person can hold several lines).
Source: National Bureau of Statistics · saved copyHow many banks are there in Oyo?
Oyo had 237 commercial bank branches in 2022, about 2.9 per 100,000 residents; 11th highest of the 36 states and the FCT.
Source: National Bureau of Statistics · saved copyHow Oyo compares with other states
Inflation, year on year (Sep 2026)
Oyo ranks 6 of 37, highest first.
| Rank | Region | Inflation, year on year |
|---|---|---|
| 3 | Niger | 22.05% |
| 4 | Delta | 20.67% |
| 5 | Anambra | 18.26% |
| 6 | Oyo | 17.98% |
| 7 | Bayelsa | 17.66% |
| 8 | Lagos | 17.35% |
| 9 | Kaduna | 17.31% |
Petrol, average price per litre (May 2026)
Oyo ranks 10 of 37, highest first.
| Rank | Region | Petrol, average price per litre |
|---|---|---|
| 7 | Abia | ₦1,654 |
| 8 | Jigawa | ₦1,651 |
| 9 | Taraba | ₦1,648 |
| 10 | Oyo | ₦1,640 |
| 11 | Ebonyi | ₦1,633 |
| 12 | Akwa Ibom | ₦1,629 |
| 13 | Plateau | ₦1,624 |
Households with electricity (2021)
Oyo ranks 12 of 37, highest first.
| Rank | Region | Households with electricity |
|---|---|---|
| 9 | Kwara | 80.0% |
| 10 | Osun | 79.7% |
| 11 | Federal Capital Territory | 76.9% |
| 12 | Oyo | 74.5% |
| 13 | Kaduna | 71.7% |
| 14 | Bayelsa | 70.4% |
| 15 | Ekiti | 65.7% |
More on Oyo: overview · health · education and schools · poverty and living standards · government budget · Nigeria
Sources
- National Bureau of Statistics: Annual Abstract of Statistics 2023, Table 434: deposit money bank branches by state, 2017-2022 (Central Bank of Nigeria), read 23 October 2026 · saved copy (SHA-256 e033cb20cc2d…)
- National Bureau of Statistics: Cost of a Healthy Diet, April 2026: state averages (naira per person per day), read 23 October 2026 · saved copy (SHA-256 f0db22b5253f…)
- National Bureau of Statistics: CPI and Inflation Report September 2026: Table 1 (national) and Table 5 (state consumer price indices), read 23 October 2026 · saved copy (SHA-256 6951a9d0b87f…)
- National Bureau of Statistics: Nigeria Multidimensional Poverty Index (2022), Appendix D tables by state, read 23 October 2026 · saved copy (SHA-256 26498590b192…)
- National Bureau of Statistics: Premium Motor Spirit (Petrol) Price Watch, May 2026: average price per litre by state, read 23 October 2026 · saved copy (SHA-256 b792493b6fb8…)
- National Bureau of Statistics: Telecoms Data Q4 2025: active voice and internet subscriptions per state (Telecoms_Q4_2025.xlsx), read 23 October 2026 · saved copy (SHA-256 70362bae97f6…)
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