Oyo Approves N5.8bn Compensation, Rolls Out Fresh Infrastructure Boost

The Oyo State Executive Council has approved the sum of N5.8 billion as compensation for over 900 property owners affected by the ongoing Ibadan Circular Road project, in a move aimed at accelerating development and addressing public concerns.

The approval was granted at the State Executive Council meeting chaired by Governor Seyi Makinde.

In a statement, the Commissioner for Information, Dotun Oyelade, disclosed that a total of N5,813,000,000 would be disbursed to affected property owners. He explained that the compensation is intended to address concerns and misinformation surrounding the project, while also boosting investor confidence in the state’s urban expansion plans.

The Council recalled that over N800 million had earlier been paid as compensation to displaced persons during the first phase of the project within the last 18 months.

As part of broader relief measures, the Council also approved N710.38 million for transportation subsidies between March and August 2026, aimed at cushioning the impact of fuel subsidy removal on residents.

Oyelade noted that the state’s Sustainable Action for Economic Recovery (SAfER) programme, introduced in 2023, continues to support residents through food relief, healthcare services, MSME support, and subsidised transportation. According to him, more than four million commuters, including pensioners, students, persons with disabilities, and other vulnerable groups benefited from transport subsidies ranging from 50 to 100 per cent in the past year.

The Council further approved major infrastructure investments, including the reconstruction of the Okaka Junction–Otu–Igbeti–Kishi road, with bridges over the Otu and Ofiki rivers, valued at N26.48 billion. An additional N3.98 billion was also approved for the expansion of the project.

In the same vein, N126.91 million was approved 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.

The Council also gave approval for the hosting of the 2026 Oyo State International Tourism Summit, as part of efforts to promote cultural heritage and position the state as a key destination for global tourism.