Oyo approves N5.8 billion for circular road property owners
The Oyo State government has approved compensation for more than 900 property owners whose lands were affected by the ongoing construction of the Ibadan Circular Road project. The decisions were
The Oyo State government has approved compensation for more than 900 property owners whose lands were affected by the ongoing construction of the Ibadan Circular Road project.
The decisions were made at the State Executive Council meeting, chaired by Governor Seyi Makinde, on Tuesday.
In a statement, the Commissioner for Information, Prince Dotun Oyelade, said a total of N5,813,000,000 will be paid to these categories of people.
The Council noted that the compensation will stop agitation and misinformation around the project, accelerate planning and development, build investor confidence, and realize the vision of a transformed urban development for Ibadan and Oyo State as conceived by Governor Makinde.
The Council recalled that over N800 million had earlier been paid in the first phase as compensation for displaced persons in the past 18 months.
The Commissioner recalled that 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.
He said, "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."
Also, Oyelade disclosed that the Council approved N710,382,000 to cover the transportation subsidy for the period between March and August 2026.
He recalled that last year alone, over 4 million commuters, including pensioners, students, persons with disabilities, and other vulnerable groups, benefited from transportation subsidies ranging from 50 to 100 percent in the State.
Read Also: Power Minister Adelabu set to quit FEC for Oyo governorship bid
"The State Executive Council noted the strategic importance of the ongoing reconstruction and rehabilitation of the Okaka Junction–Otu–Igbeti–Kishi road and the construction of bridges over the Otu and Ofiki rivers at a cost of N26,482,664,000.
"Council also approved the expansion of this project by N3,981,431,000", he added.
According to the Information Commissioner, the Council further approved the completion of the Oyo State Christian Wing multipurpose hall, which was initiated over 25 years ago under Governor Lam Adesina.
He said that the completion will cost N126,912,000.
Prince Oyelade added that, continuing the Administration’s belief in entrenching the State's culture and expanding its global potential, the Council approved hosting the Year 2026 Oyo State International Tourism Summit, stressing that the approval would consolidate the huge successes recorded in previous editions.
