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.
The governor also reaffirmed the reduction of the setback in built-up areas along the road corridor to 75 metres, addressing concerns raised by residents over the project’s impact on their properties.
Makinde disclosed this on Friday during a meeting with affected property owners, assuring them that the compensation would be paid directly into their bank accounts, with disbursement commencing immediately.
According to the governor, all necessary processes for the payment of the first tranche had been completed.
“We have processed ₦4.6 billion for the first phase of compensation payments. The money will be paid directly into beneficiaries’ accounts, and recipients should begin to receive payment alerts from tonight or by tomorrow morning,” he said.
On the setback issue, Makinde reiterated that the government had reviewed the setback in built-up areas to 75 metres.
He added that the road corridor would be fenced to enhance safety and protect residents living within the area.
The governor explained that property owners whose buildings fall outside the approved 75-metre setback had nothing to worry about and should continue their normal activities.
He urged residents not to be misled by rumours and misinformation, assuring them that his administration remained committed to protecting their interests and welfare.
“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,” Makinde said.
The governor reaffirmed his administration’s commitment to completing the Senator Rashidi Ladoja Circular Road project, describing it as a critical infrastructure initiative expected to improve connectivity, stimulate economic growth and open up new development corridors across Oyo State.
Speaking on behalf of the affected property owners, Ahmed Abiodun, Kayode Oyejobi, Risikat Raji and Banke Adeyanju commended the governor for approving the immediate payment of compensation and reviewing the setback in built-up areas to 75 metres.
They expressed appreciation for the government’s responsiveness to their concerns and pledged their continued support for the success of the Makinde administration.
The statement was signed by Dr Sulaimon Olanrewaju, Special Adviser on Media to the Governor of Oyo State, on October 30, 2026.
