Following the rating of Oyo State as the third on the list of Top 10 Performing States in the Subnational Ease of Doing Business Report 2025 by the Presidential Enabling Business Environment Council (PEBEC), the Chairman of the Oyo State Internal Revenue Service, Mr Femi Awakan, has tasked investors to choose the state as their next investment destination.
Recall that the agency under the Presidency released its 2025 Report detailing top 10 Performing States in Ease of Doing Business Report, noting that the rankings reflect state-level performance under the BFA framework from January to October 2025, commending the leaders driving reform, efficiency and investor-friendly systems across Nigeria.
In the report, Lagos State was ranked number one with 62.7/73.0 or 85.6 per cent, Kaduna State came second with 47.5/73.0 or 65.1 per cent, while Oyo State with 45.8/73.0 or 62.7 per cent was ranked third.
Awakan, who drives the state’s internally generated revenue machinery, has, however, maintained that the rating by PEBEC, which put Oyo State at number three in ease of doing business nationally and second in the South-West coming after Lagos State, came as a result of the state’s tax-friendly environment.
He noted that over the last six years, the Oyo State Government has not increased tax rates or add new taxes, adding that the Engr Seyi Makinde-led administration has also “put in place an open door policy and is ready to listen and address complaints, having set up special purpose vehicles and structures that serve as one-stop shops for investors.”
He said: “The government of Oyo State has demonstrated the belief that every citizen should voluntarily comply with their tax payments rather than forcing them to comply.
“It has put in and implemented policies, which have brought about a steady rise in internally generated revenues, with those targeting ease of doing business taking the centre stage.
“When you place this side by side with the governor’s commitment to putting in place strategic enablers such as good toad networks, interconnectivity, adequate security and the readiness to help businesses grow and thrive, then a clearer picture of the state being the best place for investments will emerge.
“Therefore, this PEBEC rating is a good development and a green flag to business owners and investors, who desire a secured state, availability of labour and a conducive environment to take a look at Oyo State.
“I encourage investors to come into Oyo State, invest in Oyo State and succeed in Oyo State, where the leader is visionary and insightful and the system is effective and well-suited to bring Return on Investments within a limited time.”
