OYO STATE APPROVES ₦5.8 BILLION COMPENSATION FOR IBADAN CIRCULAR ROAD PROJECT AFFECTED PROPERTY OWNERS
The Oyo State Government has approved the sum of ₦5.813 billion as compensation for over 900 property owners affected by the ongoing Ibadan Circular Road project.
This was disclosed after the State Executive Council meeting presided over by Governor Seyi Makinde, according to a statement issued by the Commissioner for Information, Prince Dotun Oyelade.
The approval is aimed at addressing outstanding compensation concerns, reducing misinformation around the project, and ensuring smooth continuation of one of the state’s flagship infrastructure developments. The government also noted that the move is expected to boost investor confidence and further advance its vision of a modern, well-planned Ibadan and Oyo State.
The Council recalled that more than ₦800 million had already been paid in the last 18 months as part of earlier compensation phases for displaced persons.
Prince Oyelade reaffirmed that Oyo State remains committed to cushioning the effects of economic reforms on residents. He referenced the Sustainable Action for Economic Recovery (SAfER) programme launched in 2023, which continues to deliver interventions in food support, health insurance, MSME empowerment, and transport relief.
In further decisions, the Council approved ₦710,382,000 as transport subsidy for the period of March to August 2026. The Commissioner noted that in the past year alone, over four million commuters—including pensioners, students, persons with disabilities, and other vulnerable groups—benefited from between 50% and 100% transport subsidies across the state.
On infrastructure development, the Council approved continued funding for the reconstruction and rehabilitation of the Okaka Junction–Otu–Igbeti–Kishi road, including bridges over the Otu and Ofiki rivers, at a cost of ₦26.48 billion. An additional ₦3.98 billion was also approved for expansion works on the project.
The Council further approved ₦126.91 million for the completion of the Oyo State Christian Wing multipurpose hall, a project initiated over two decades ago during the administration of former Governor Lam Adesina.
In a bid to strengthen tourism and cultural development, approval was also granted for the hosting of the 2026 Oyo State International Tourism Summit, which the government says will build on the successes of previous editions and further position the state as a leading tourism destination.
E-Signed:
Prince Dotun Oyelade
Hon. Commissioner for Information,
Oyo State.
22nd April, 2026.