Oyo Approves N5.8bn Compensation For 900 Circular Road Property Owners

Oyo State Executive Council has approved N5.8 billion as compensation for over 900 property owners whose lands were affected by the ongoing construction of the Ibadan Circular Road.

The commissioner for Information, Prince Dotun Oyelade, said that a total of N5,813,000,000 would be paid to these categories of people.

The council noted that the compensation would not only put a stop to the agitation and misinformation surrounding this laudable project but would also pave the way for accelerated planning and development, foster investors’ confidence and bring to reality the vision of a transformed urban development of Ibadan and Oyo State as conceived by Governor Seyi Makinde.

The council recalled that over N800,000,000 had earlier been paid in the first phase as compensation for displaced persons in the past 18 months.

According to him, Oyo State is one of the few states in the Federation that has continued to support the masses since the removal of the fuel subsidy.

The introduction of the Sustainable Action for Economic Recovery (SAfER), set up by the State Government since 2023, has positively impacted the lives of the masses through interventions such as food relief/palliatives, health insurance, MSME support, and transportation.

The council also approved N710,382,000 to cover transportation subsidies for the period from March to August 2026.

Oyelade recalled that last year alone, over 4 million commuters, including pensioners, students, persons with disabilities, and other vulnerable groups, benefited from between 50 and 100 per cent transportation subsidies in the state.

The state’s executive council noted the strategic importance of the ongoing reconstruction and rehabilitation of the Okaka Junction–Otu–Igbeti–Kishi road, as well as the construction of bridges over the Otu and Ofiki rivers, at a cost of N26,482,664,000.