Ogun vs Oyo at 50: Revenue strength, federal dependence and the cost of growth

Ogun vs Oyo at 50: Revenue strength, federal dependence and the cost of growth

Revenue capacity
Internally generated revenue (IGR)
Ogun: N194.93bn
Oyo: N65.29bn

IGR per capita
Ogun: N28,692
Oyo: N6,344

Gross FAAC inflows
Ogun: N127.57bn
Oyo: N425.60bn

Total revenue
Ogun: N512.84bn
Oyo: N511.26bn

IGR share of revenue
Ogun: 38%
Oyo: 13%

FAAC share of revenue
Ogun: 25%
Oyo: 83%

Public investment

Health per capita
Ogun: N2,515
Oyo: N1,073

Education per capita
Ogun: N8,574
Oyo: N6,202

Debt exposure
Total debt
Ogun: N508.02bn
Oyo: N170.98bn

Total debt per capita
Ogun: N74,773
Oyo: N16,614

Debt-to-total revenue ratio
Ogun: 99%
Oyo: 33%

*All figures are for the 2024 fiscal year

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