Makinde approves ₦4.6bn compensation for Circular Road-affected property owners
By Adejayan Gbenga
Oyo State Governor Seyi Makinde has approved ₦4.6 billion as the first tranche of compensation for property owners affected by the ongoing Senator Rashidi Ladoja Circular Road project in Ibadan.
Makinde announced the approval on Friday during a meeting with affected property owners, assuring them that the payments would be made directly into their bank accounts, with disbursement expected to begin immediately.
The governor said the government had completed the necessary processes for the first phase of compensation, adding that beneficiaries were expected to receive payment alerts from Friday night or Saturday morning.
He also reaffirmed that the setback requirement for built-up areas along the project corridor had been reviewed to 75 metres, while the affected section would be fenced to improve safety and protect residents.
Makinde clarified that property owners whose buildings fall outside the 75-metre setback had nothing to worry about and could continue their normal activities. He further urged residents to disregard rumours and misinformation about the project.
“This is your government. Do not allow anyone to deceive you. I promised that compensation would be paid before the end of this month, and I considered it important to meet with you personally before the payment process commenced,” he said.
The governor described the Circular Road as a major infrastructure project expected to improve connectivity, stimulate economic growth and open up new development corridors across the state. He reaffirmed his administration’s commitment to completing the project.
Speaking on behalf of the affected property owners, Ahmed Abiodun, Kayode Oyejobi, Risikat Raji and Banke Adeyanju commended the governor for approving the compensation and reviewing the setback requirement to 75 metres. They expressed appreciation for the government’s response to their concerns and pledged continued support for his administration.
