Fact-Check: Contrary to Serah Ibrahim’s Claim, Oyo Leads Nigeria in Revenue Performance Percentage, Not IGR

Claim: A video circulating on social media shows political campaigner and social media strategist Serah Ibrahim introducing Oyo State Governor Seyi Makinde at an Allied Peoples’ Movement (APM) event, where she claimed that Oyo State currently has the highest Internally Generated Revenue (IGR) in Nigeria.

Verdict: Misleading

Background

On Wednesday, November 4, 2026, Allied Peoples’ Movement (APM) presidential candidate Seyi Makinde presented the party’s manifesto in Abuja, setting out his plans to tackle Nigeria’s economic, political, social, and institutional challenges.

While introducing the Oyo State governor to the podium, the political campaigner and social media strategist, Serah Ibrahim, highlighted several achievements of the Makinde administration. She particularly referenced the state’s revenue growth, stating:

“His administration has recorded a significant growth in internally generated revenue, increasing it from about ₦26.5 billion when he came into office in 2019 to a whopping ₦103 billion, the highest in Nigeria today.”

The video, posted on X by a user, @_Dejii  , quickly gained traction, attracting more than 94,000 views and generating numerous reactions. Many commenters focused on Ibrahim’s perceived political influence and her potential role in the 2027 presidential race.

For example, one user, @randomguyon234, commented:

“Now let’s see how she delivers Lagos for him as they claim they did for Obi in 2023.”

Another user, @UcheUche4505, wrote:

“I like as she is there to cut Tinubu votes.”

Given Sarah Ibrahim’s substantial social media following of over 129,000 followers on X, NDRFactCheck examined the accuracy of her statement regarding Oyo State’s IGR.

Verification

NDRFactCheck reviewed publicly available data on state revenue generation, budget performance, and internally generated revenue across Nigeria.

Findings from Data from StatiSense and reports published by The Punch show that Oyo State’s IGR increased from approximately ₦26.59 billion in 2019 to ₦103 billion in 2025. This represents significant growth under the Makinde administration.

However, the same data indicate that Oyo State ranked eighth among Nigeria’s 36 states in IGR performance during the period.

Further, data from the National Bureau of Statistics (NBS), as reported by The Punch, show that Lagos State recorded the highest IGR in 2025, generating about ₦1.77 trillion, far exceeding Oyo State’s ₦103 billion. This directly contradicts Ibrahim’s claim that Oyo currently has the highest IGR in the country.

A possible source of confusion is a BudgIT report released in October 2026 that assessed states’ revenue performance against their budget targets. The report found that Oyo State achieved the highest revenue performance ratio, generating 66.4 per cent of its projected ₦849.78 billion revenue target for 2026.

However, this metric measures how effectively a state is meeting its revenue projections and should not be confused with overall IGR rankings.

Conclusion

The evidence shows that Oyo State’s internally generated revenue increased substantially from approximately ₦26.5 billion in 2019 to ₦103 billion in 2025 under Governor Seyi Makinde’s administration.

However, Oyo State does not have the highest IGR in Nigeria. Available data place the state eighth nationally, while Lagos State remains the leading revenue-generating state with an IGR of about ₦1.77 trillion.

Although Oyo recorded the highest revenue performance rate relative to its budget target in 2026, that achievement is different from having the highest IGR in the country.

Therefore, Sarah Ibrahim’s claim is misleading.

Please follow and like us: