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)
- Lagos: ₦1.81trn
- Rivers: ₦560.04bn
- Oyo: ₦253.67bn
- FCT: ₦182.93bn
- Bayelsa: ₦103.14bn
- Delta: ₦102.06bn
- Kano: ₦65.21bn
- Akwa Ibom: ₦52.89bn
- Edo: ₦51.91bn
- Borno: ₦38.38bn
- Adamawa: ₦36.69bn
- Ondo: ₦34.22bn
- Kwara: ₦33.58bn
- Jigawa: ₦33.23bn
- Ogun: ₦26.43bn
- Katsina: ₦25.82bn
- Gombe: ₦25.78bn
- Anambra: ₦24.55bn
- Sokoto: ₦23.96bn
- Plateau: ₦23.37bn
- Taraba: ₦22.14bn
- Kaduna: ₦21bn
- Zamfara: ₦20.74bn
- Ekiti: ₦20.44bn
- Ebonyi: ₦18.96bn
- Kogi: ₦18.15bn
- Yobe: ₦16.43bn
- Nasarawa: ₦16.35bn
- Kebbi: ₦15.55bn
- Imo: ₦14.64bn
- Niger: ₦14.32bn
- Benue: ₦14.10bn
- Bauchi: ₦13.39bn
- Osun: ₦13.25bn
- Enugu: ₦12.35bn
- Cross River: ₦10.55bn
- 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.