Ibadan Circular Road: Oyo okays N5.8b compensation for affected property owners

Oyo State Government has approved compensation for over 900 property owners, whose land were affected by the ongoing building of Ibadan Circular Road.

The decision was made at the State Executive Council meeting, chaired by Governor Seyi Makinde on Tuesday.

According to a statement by the Commissioner for Information, Prince Dotun Oyelade, ‘’N5,813,000,000 will be paid to these categories of people.’’

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The statement said the council noted that the compensation would not only put a stop to the agitation and misinformation surrounding the 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 Makinde.

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

The commissioner recalls Oyo is one of the few states that has continued to support the masses since the removal of fuel subsidy.

He said: “The introduction of 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.”

Oyelade disclosed that council approved N710,382,000 to cover transportation subsidy for the period between March and August 2026.