Seyi Makinde’s Economic Policies Pay Off As Oyo Ranks 3rd In VAT Generation Nationwide

Oyo State has emerged as the 3rd highest Value Added Tax generating state in Nigeria under Governor Seyi Makinde, recording ₦253.67 billion in the first six months of 2026.

According to data from FAAC and compiled by TheCableIndex, Oyo trailed only Lagos and Rivers in VAT generation between January and June 2026. The total VAT collected by all states and the FCT within the period stood at ₦3.78 trillion.

The performance reflects increased economic activity, improved business confidence, and policies of the Makinde administration aimed at encouraging investment and productivity across the state.

VAT generated by Nigeria’s states and the FCT in H1 2026 (Jan-Jun)

1. Lagos: ₦1.81trn
2. Rivers: ₦560.04bn
3. Oyo: ₦253.67bn
4. FCT: ₦182.93bn
5. Bayelsa: ₦103.14bn
6. Delta: ₦102.06bn
7. Kano: ₦65.21bn
8. Akwa Ibom: ₦52.89bn
9. Edo: ₦51.91bn
10. Borno: ₦38.38bn
11. Adamawa: ₦36.69bn
12. Ondo: ₦34.22bn
13. Kwara: ₦33.58bn
14. Jigawa: ₦33.23bn
15. Ogun: ₦26.43bn
16. Katsina: ₦25.82bn
17. Gombe: ₦25.78bn
18. Anambra: ₦24.55bn
19. Sokoto: ₦23.96bn
20. Plateau: ₦23.37bn
21. Taraba: ₦22.14bn
22. Kaduna: ₦21bn
23. Zamfara: ₦20.74bn
24. Ekiti: ₦20.44bn
25. Ebonyi: ₦18.96bn
26. Kogi: ₦18.15bn
27. Yobe: ₦16.43bn
28. Nasarawa: ₦16.35bn
29. Kebbi: ₦15.55bn
30. Imo: ₦14.64bn
31. Niger: ₦14.32bn
32. Benue: ₦14.10bn
33. Bauchi: ₦13.39bn
34. Osun: ₦13.25bn
35. Enugu: ₦12.35bn
36. Cross River: ₦10.55bn
37. Abia: ₦8.77bn

Total: ₦3.78trn
Source: FAAC, TheCableIndex
#TheCableIndex

In a statements by the business analysts said the achievement shows that focused economic policies and support for businesses under Governor Makinde are yielding results.

“The numbers speak for themselves. This achievement reflects a thriving economy and the hard work of our people,” the statement said.

“It is also a reminder that performance is louder than propaganda. While critics were busy spreading negativity, Oyo under Governor Seyi Makinde continued making measurable progress in revenue generation, infrastructure, and service delivery.”

The government attributed the growth to efforts to formalize businesses, expand the tax base, support SMEs, improve market infrastructure, and create an enabling environment for investors.

The statement congratulated Governor Makinde and the people of Oyo State, and called for sustained momentum in development, job creation, and economic growth.

#OyoState #SeyiMakinde #VAT #NigeriaEconomy #Ibadan #OyoProgress