Economy

Known as the “pace setter state”, Oyo is in south-west Nigeria and borders the states of Ogun, Osun and Kwara, as well as Benin. With an extensive interstate road network and the ability to capitalise on high volumes of cross-border activity, the state benefits from a strategic location, enabling companies to receive shipments from the ports of...

Given the state’s sizable agricultural output, agro-industrial processing is a large part of Oyo’s industrial activity, with a number of facilities focused on segments like fruit juice production or flour milling – although several other manufacturers are present in the area as well, such as pharmaceuticals. As elsewhere in Nigeria, secondary...

Improving human development indicators, including health provision, is a key priority for both federal and state governments, and Oyo State is no exception. The government is investing in social services, which commanded 29% of the 2013 state budget, with health receiving allocations of N3.85bn ($24.25m). However, to meet Millennium Development...

While growth prospects remain dim in the world’s advanced economies, Nigeria’s position as a key frontier market offers sharply different perspectives. The country has achieved consistently high growth over the past decade, including 7.4% in 2011 and 6.6% in 2012, according to the African Development Bank (AfDB). This expansion makes Nigeria one of...

Like many other regions, sub-Saharan Africa has not escaped from the phenomenon of rising youth unemployment. Young people make up slightly more than a third of the region’s total labour force but account for about 60% of total unemployment. In Nigeria, the continent’s most populous country, about 63% of the population is under 25. Unemployment...