🏭 Osun State — Economic Profile
South West
⚖ Mixed IGR & FAAC Revenue
The economy of Osun State is driven by agriculture, education, mining, and small-scale industries. Major agricultural products include cocoa, cassava, maize, and yam. The state also benefits from tourism and cultural festivals.
Key Industries
Commerce & Trade
Banking & Finance
Entertainment
Technology
Manufacturing
Real Estate
💰 Revenue Dependency — IGR vs FAAC
2026
A state that earns a high percentage of its revenue from
IGR (taxes, levies, fees) is fiscally independent.
A state that relies heavily on FAAC (monthly federal oil revenue share)
is vulnerable to oil price shocks and federal revenue declines.
47.4%
52.6%
IGR:
₦199.6B — 47.4% of revenue
FAAC:
₦221.7B — 52.6% of revenue
Osun has a balanced revenue mix — roughly 47.4% from IGR and 52.6% from FAAC. Growing the IGR share is a key fiscal priority.
IGR
₦199.6B
47.4% of revenue
#9 in Nigeria
FAAC Allocation
₦221.7B
52.6% of revenue
Budget Per Capita
₦153,915
Pop: 4.70M
For full appropriation figures — sector allocations, CapEx breakdown and year-on-year budget history:
Osun Budget →🏗 Spending Priorities
2026 — summaryWhere Osun State directs its public spending — relative allocation across key sectors from the 2026 budget.
Education
₦87.2B
12.1% of total budget
Infrastructure
₦289.0B
40% of total budget
Health
₦59.2B
8.2% of total budget
Security
₦14.2B
2% of total budget
See exact naira figures per sector, debt service and security allocations:
Full Sector Breakdown →📈 IGR Revenue Trend
2 years| Year | IGR | FAAC | IGR % | Total Budget |
|---|---|---|---|---|
| 2026 Latest | ₦199.6B | ₦221.7B | 47.4% | ₦723.4B |
| 2024 | ₦28,000 | ₦210,000 | 11.8% | ₦268,000 |
🏆 Nigeria State IGR Ranking
Internally Generated Revenue❓ FAQs — Osun State Economy
The economy of Osun State is driven by agriculture, education, mining, and small-scale industries. Major agricultural products include cocoa, cassava, maize, and yam. The state also benefits from tourism and cultural festivals.
Osun State's economy is driven by: Commerce & Trade, Banking & Finance, Entertainment, Technology, Manufacturing. The state generates ₦199.6B in IGR annually, representing 47.4% of its total revenue.
Osun State generated ₦199.6B in IGR in 2026, representing 47.4% of total revenue. The remaining 52.6% came from FAAC (federal allocations). Osun ranks #9 of 38 states by IGR.
Osun State ranks #9 of 38 states by Internally Generated Revenue (IGR) and #28 by total budget size. Like most Nigerian states, it relies significantly on FAAC allocations from the federal government.
IGR (Internally Generated Revenue) is money a state collects from within its own economy through taxes, levies and fees — without depending on the federal government. FAAC (Federation Account Allocation Committee) distributes shared national revenue — mainly from oil sales and VAT — monthly to all tiers of government. States with high IGR like Lagos are fiscally independent, while most states depend on FAAC for over 60-80% of their revenue.
Osun State is not classified as a major oil-producing state and does not receive the 13% derivation fund. Its economy depends on agriculture, commerce, solid minerals and services, with federal FAAC allocations as the primary government revenue source alongside IGR.
Data note:
IGR and FAAC figures are sourced from published FAAC distribution reports and
state appropriation laws. Population figures are NBS estimates.
All amounts in Nigerian Naira (₦). For the most current data refer to the
OAGF
and individual state ministry of finance publications.