The Oyo State Executive Council has approved the sum of N5.8 billion as compensation for over 900 property owners affected by the ongoing construction of the Ibadan Circular Road.
The decision was reached at the Council meeting chaired by Governor Seyi Makinde, according to a statement issued on Wednesday by the Commissioner for Information, Dotun Oyelade.
Oyelade disclosed that a total of N5,813,000,000 would be disbursed to affected landowners, noting that the compensation is aimed at addressing concerns, ending agitations, and correcting misinformation surrounding the project.
He added that the move would also accelerate development along the corridor, boost investor confidence, and support the state government’s broader vision of transforming urban infrastructure in Ibadan and across Oyo State.
The Council recalled that over N800 million had already been paid as compensation in the first phase to displaced persons within the last 18 months.
In a related development, the Council approved N710.38 million to fund transportation subsidies between March and August 2026. The initiative falls under the state’s Sustainable Action for Economic Recovery (SAfER) programme, introduced in 2023 to cushion the effects of fuel subsidy removal.
According to the Commissioner, more than four million commuters—including students, pensioners, and persons with disabilities—benefited from transport subsidies ranging between 50 and 100 per cent last year.
The Council also highlighted ongoing infrastructure efforts, including the reconstruction of the Okaka Junction–Otu–Igbeti–Kishi Road and the construction of bridges over the Otu and Ofiki rivers, valued at N26.48 billion. An additional N3.98 billion was approved to expand the project.
Furthermore, the Council approved N126.9 million for the completion of the Oyo State Christian Wing multipurpose hall, a project initiated over 25 years ago during the administration of former governor Lam Adesina.
As part of efforts to promote culture and tourism, the Council also approved the hosting of the 2026 Oyo State International Tourism Summit, aimed at building on the successes of previous editions and positioning the state as a global tourism destination.
