The rapid population growth in Oyo state is incomparable to most states within Nigeria and this increment is attributed to the high birth rate, socio-cultural environment, and migration of people (people relocating and settling down in the state) in search of new job opportunities, access to social infrastructure (good transportation system, good and affordable housing system, quality education, healthcare system e.t.c), fertile land, industrialization, and cultural accessibility among others.
The large population in the state plays a big role in the economic development of the state and this can be related to a farmer with many kids. The more people you have, the more work is done, and the more work is done, the more value (or, in other words, money) is created. This has contributed to the increase in tax revenues generated within the state which are spent on public goods, such as health care and environmental projects to develop the state and also making it safer for people to live in.
The population growth in Oyo state has increased the percentage of people of working age in the state who are the actual contributors to the state treasury because they are the taxpayers and they do not receive pensions thereby reducing the need for a tax increase. Hence, the state government generates sufficient IGR to develop the state without over-taxing the people which is a win-win for both the government and the people of Oyo state.
In the year 2021, Oyo state emerged as the best state in digital technology, Human capital development, digital technology infrastructural development, and the overall best state in digital technology development at the 9th regular meeting of the National council on communications and digital economy. This meritorious award shows how much the state government has invested iin human resources and advanced innovation which are unique guides that work on the economy of the state better. The use of digital components within the state helps to manage and improve the working structures by adding values and securing the lives and properties of people within the state regardless of increased population. The increasing investment in human capital helps improve the state economy and leads to the creation of more job opportunities, research on innovation and inventions and release of grants for startups and so on.
In a populated state like Oyo state which also doubles as one of the historical heritage sites of Yoruba land, with prominent landmarks like the Cocoa House, the first skyscraper built in Africa, NTA Ibadan, the first television station in Africa, and Liberty Stadium, Ibadan the first stadium built in Africa. Other major tourist attractions located in the state include; Agodi Botanical Garden, Ado-Awaye Suspended lake, Mapo Hall, University of Ibadan Zoological Garden, Ido Cenotaph, Trans-Wonderland Amusement Park, Oke-Ogun National Park, Bowers Tower, and the Cultural Center, Mokola. All these attractions situated in the state serves as tourist centers and major attractions that attract people from in and outside Oyo state not neglecting foreigners.
One of the major lifestyles of the people of Oyo is Agriculture and this brings farmers, livestock Keepers and buyers from different regions to access the agricultural product within the state. The climate in the Oyo State is favourable for the cultivation of crops like maize, yam, cassava, millet, rice, plantains, cocoa, palm produce, and cashew among others, It is safe to say Oyo State has favorable conditions for food production with arable and fertile lands to show for it. The State runs with abundant clay, kaolin, and aquamarine Creatures. There are also cattle ranches at Saki, Fasola, and Ibadan, a dairy farm in Monatan in Ibadan, and the state-wide Oyo State Agricultural Development Programme with headquarters in Saki. Several international and federal agricultural establishments are located in the State. The existence of these manmade and natural resources within the state keeps attracting people to settle down, to live and invest In Oyo state.
The Oyo state capital, Ibadan is reputed to be the largest city in West Africa, south of the Sahara and the second largest city in Africa, it is also known for its serenity and peaceful ambience, the people of Oyo State are known all over Nigeria as warm and welcoming though sharp-witted. These are grounds on which the state is honored with increased population and assets that keep bringing about prosperous trade, benefits and settlement in Oyo State.