The Oyo State Executive Council has approved a compensation of ₦5.8Bn for over 900 property owners whose lands were affected by the ongoing construction of the Ibadan Circular Road.
As stated in a statement by the state Commissioner for Information, Prince Dotun Oyelade, on Wednesday, the Council gave the approval of a total of ₦5,813,000,000 as compensation at a meeting chaired by the state governor, ‘Seyi Makinde.
The Council noted that the compensation will not only put a stop to the agitation and misinformation surrounding the Circular Road project, but will also pave the way for accelerated planning and development.
It added that the compensation will foster investors’ confidence, and bring to reality the vision of a transformed urban development of Ibadan and Oyo State as conceived by Governor Makinde.
The Council recalled that over ₦800 million had earlier been paid in the first phase as compensation for displaced persons in the past 18 months, in respect of the Circular Road.
According to the Information Commissioner, 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
“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,” he added.
Oyelade also disclosed that the Council also approved the sum of ₦710,382,000 million to cover transportation subsidy for the period between March and August 2026.
He recalled that, in 2025 alone, over four million commuters, including pensioners, students, persons with disabilities, and other vulnerable groups, benefited from between 50 and 100 per cent transportation subsidies in the state.
The Oyo State Executive Council noted the strategic importance of the ongoing reconstruction and rehabilitation of some road projects in some parts of the state.
It disclosed that the Okaka Junction–Otu–Igbeti–Kishi Road and the construction of bridges over the Otu and Ofiki rivers cost ₦26.482 billion, adding an approval of ₦3.981 billion was given for the expansion of the project.
According to Oyelade, the Council further approved the completion of the Oyo State Christian Wing Multipurpose Hall, which was initiated over 25 years ago during the administration of Governor Lam Adesina
He stated that the completion of the multipurpose hall will cost ₦126,912,000 million.
He stressed that the Council also approved the hosting of the 2026 Oyo State International Tourism Summit, adding that the state government believed that the approval will consolidate the huge successes recorded in previous editions.
Prince Oyelade added the approval for the hosting of the 2026 Oyo State International Tourism Summit was in line with the administration’s belief in entrenching the state’s culture and expanding its global potentials.
