A Federal Government agency, the Presidential Enabling Business Environment Council (PEBEC), has ranked Oyo State among the top three best-performing sub-national economies in its 2025 Subnational Ease of Doing Business Report.
Reacting to the development, the Commissioner for Information, Prince Dotun Oyelade, said the ranking was not surprising, as Oyo State has once again been correctly classified as a major economic hub in the comity of sub-nationals in the country.
The commissioner said that, for the third year running, various professional bodies and local and international agencies including the Nigeria Bureau of Statistics (NBS) and PEBEC, among others have accorded Oyo State the status of an investors’ destination.
He noted that the state’s Internally Generated Revenue (IGR), which was less than ₦15 billion annually in 2019, has increased to ₦65 billion in 2024 and is projected to hit the ₦100 billion mark by the end of 2025.
He added that another reason PEBEC ranked Oyo State among the top three best-performing sub-nationals in the 2025 Ease of Doing Business Report was the government’s decision not to increase taxes but instead expand the economy through agribusiness, infrastructure, and tourism to boost IGR.
“The injection of ₦14.5 billion to over 130,000 workers monthly as salaries and wages for state civil servants culminating in about ₦180 billion yearly has also had a salutary effect on the economy, as financial interactions among the low and middle-income classes remain vibrant,” he said.
The commissioner also highlighted the state’s strategic road network as another achievement that has positioned Oyo ahead of others in terms of growth and development capacity.
He said 411 kilometres of roads have been completed since 2019, while ongoing projects cover 319 kilometres. Economic corridors are being opened through strategic road projects such as the Ibadan–Iseyin road, Oyo–Iseyin road, Ogbomoso–Iseyin road, and the Ibadan–Eruwa road, which will soon be completed. All these projects are boosting trade, reducing travel time, linking previously isolated communities to major markets and deliberately connecting agro communities
He emphasized that national recognition follows when leadership is intentional, transparent, and focused on measurable results adding that the new ranking signals that Oyo State is on a development path that is producing tangible outcomes.
