Oyo approves N5.8bn compensation for property owners affected by Circular Road project
Oyo State Executive Council approves other projects
By Adejayan Gbenga
The Seyi Makinde-led Oyo State Executive Council has approved N5.813 billion as compensation for over 900 property owners affected by the ongoing Ibadan Circular Road construction.
The approval was disclosed in a statement issued by the Commissioner for Information, Dotun Oyelade, who explained that the payment is aimed at addressing agitation surrounding the project and accelerating urban development across Ibadan and the wider state.
According to the council, the new approval follows an earlier payment of over N800 million made within the last 18 months as part of the first phase of compensation to displaced persons affected by the project.
In another development, the council also approved N710.38 million to fund transportation subsidies between March and August 2026 under the state’s Sustainable Action for Economic Recovery (SAfER) initiative.
The executive council equally approved N126.91 million for the completion of the Oyo State Christian Wing Multipurpose Hall, originally initiated during the administration of former governor Lam Adesina over 25 years ago.
Similarly, the government approved the hosting of the 2026 Oyo State International Tourism Summit, aimed at promoting the state’s cultural heritage and boosting tourism development.
While reaffirming the strategic importance of the Okaka Junction–Otu–Igbeti–Kishi Road reconstruction project, valued at N26.48 billion, alongside the construction of bridges over the Otu and Ofiki rivers, a project that was further expanded with an additional N3.98 billion approval, the council gave an approval for execution.
