Governor Seyi Makinde’s sustained investment in economic growth, infrastructure, and an enabling business environment is continuing to deliver measurable results, with Oyo State emerging as the third-highest contributor to Nigeria’s Value Added Tax (VAT) pool during the first half of 2026.

According to the H1 2026 VAT distribution figures, Oyo State contributed ₦253.67 billion to the national VAT pool between January and June, trailing only Lagos (₦1.81 trillion) and Rivers State (₦560.04 billion).

The figures place Oyo ahead of the Federal Capital Territory (FCT), Bayelsa, Delta, Kano, Ogun, Kaduna, and every other state in terms of VAT generation, highlighting the growing strength of its economy.

The performance is widely seen as a reflection of Governor Makinde’s economic agenda, which has focused on expanding infrastructure, improving security, attracting private investment, supporting agribusiness, and creating an environment where businesses can thrive. These policies have strengthened economic activities across key sectors, resulting in increased commercial transactions and higher tax generation.

While Lagos and Rivers remain Nigeria’s traditional economic powerhouses, Oyo’s emergence as the third-largest contributor underscores the state’s growing importance in the national economy.

Top VAT Contributors (H1 2026):

Lagos – ₦1.81 trillion
Rivers – ₦560.04 billion
Oyo – ₦253.67 billion
FCT – ₦182.93 billion
Bayelsa – ₦103.14 billion
The data reinforces Oyo State’s position as one of Nigeria’s fastest-growing economies and suggests that the state’s deliberate economic reforms are translating into tangible fiscal outcomes.
For many observers, Oyo’s rise to third place is another indication that the Makinde administration’s focus on economic expansion is yielding results, strengthening the state’s contribution to national revenue while enhancing its profile as a destination for investment and business.