Kwara State has a robust and growing economy with a GDP estimated at approximately ₦3.2 trillion (USD $4.1 billion). The state’s economy is diversified, with agriculture contributing about 40% of its GDP due to its favorable climate and arable land. Industries like agro-processing, manufacturing, and trade also play significant roles. The state’s annual growth rate stands around 4.2%, driven by policies to enhance business environments and attract private investments. Inflation rates are in line with national trends, generally hovering around 24%, with efforts underway to stabilize prices, particularly in food and energy sectors.
Kwara State has a predominantly young workforce, with approximately 65% of its population under the age of 35. The state’s literacy rate is relatively high, at about 82%, supported by multiple tertiary institutions like the University of Ilorin and Kwara State Polytechnic, which produce graduates annually. However, the unemployment rate in Kwara is around 31%, which highlights both a challenge and an opportunity for job creation. The government has established several skill development and entrepreneurship programs aimed at enhancing employment, particularly in agriculture, technology, and manufacturing sectors.
Kwara State boasts considerable infrastructure investments, especially in transportation, energy, and water resources. The state has a well-developed road network, with about 2,000 kilometers of paved roads connecting key commercial hubs like Ilorin, Offa, and Kaiama. Energy supply is improving, with power generation initiatives like the Ganmo power station supporting industrial and commercial needs. Additionally, the state has invested in water supply projects to serve both urban and rural populations, increasing access to clean water for over 70% of households.