The Oyo State Executive Council has approved the sum of N5.8 billion as compensation for more than 900 property owners affected by the ongoing Ibadan Circular Road project, a major infrastructure initiative aimed at transforming transportation and urban development in the state.
The decision was reached during a council meeting presided over by Governor Seyi Makinde, as part of broader efforts to address the impact of the project on residents and ensure fairness in the acquisition of affected properties.
According to government officials, a total of N5,813,000,000 will be disbursed to individuals whose properties fall within the project corridor. The compensation package is intended not only to provide relief to affected property owners but also to clear lingering concerns and counter misinformation surrounding the project. Authorities believe the move will further accelerate the pace of work on the circular road and strengthen investor confidence in the state’s long-term urban expansion plans.
The council also noted that compensation payments are not new to the project, as more than N800 million had already been paid to displaced persons during the first phase over the past 18 months. The additional approval is expected to significantly ease tensions and foster cooperation among stakeholders as construction progresses.
Beyond infrastructure compensation, the council approved N710.38 million to fund transportation subsidies between March and August 2026. This measure is part of ongoing interventions designed to cushion the economic effects of fuel subsidy removal on residents across the state.
The government highlighted the continued impact of its Sustainable Action for Economic Recovery programme, which has been instrumental in providing support through food relief initiatives, access to healthcare services, assistance to small and medium-scale businesses, and subsidised transportation. Millions of residents, including students, pensioners, persons living with disabilities, and other vulnerable groups, have reportedly benefited from fare reductions ranging from 50 to 100 percent over the past year.
In furtherance of its infrastructure development agenda, the council approved the reconstruction of the Okaka Junction–Otu–Igbeti–Kishi road at a cost of N26.48 billion. The project includes the construction of key bridges over the Otu and Ofiki rivers, which are expected to improve connectivity, enhance economic activities, and ease movement across communities in the region. An additional N3.98 billion was also approved to expand the scope of the project.
The council equally gave approval for the release of N126.91 million for the completion of the Oyo State Christian Wing multipurpose hall. The project, which has remained unfinished for over two decades since it was initiated during the administration of former Governor Lam Adesina, is now set to be completed as part of efforts to revive long-abandoned public infrastructure.
In addition, the state government approved plans to host the 2026 Oyo State International Tourism Summit, a strategic initiative aimed at showcasing the state’s rich cultural heritage, attracting both local and international investors, and positioning Oyo State as a key destination for tourism and economic opportunities.
Overall, the approvals reflect a comprehensive approach by the state government to balance infrastructure development with social welfare, while also laying the groundwork for sustainable economic growth and improved quality of life for residents.
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