The Oyo State Executive Council meeting, chaired by the State Governor, has approved compensation for over 900 property owners whose lands were affected by the ongoing construction of the Ibadan Circular Road
In a statement by the Commissioner for Information, Prince Dotun Oyelade, a total of N5,813,000,000 (Five Billion, Eight hundred and Thirteen Million Naira) will be paid to these categories of people.
The Council noted that the compensation will not only put a stop to the agitation and misinformation surrounding this laudable project, but will also pave the way for accelerated planning and development, foster investors’ confidence, and bring to reality the vision of a transformed urban development of Ibadan and Oyo State as conceived by Governor Seyi Makinde.
The Council recalled that over N800,000,000 (Eight Hundred Million Naira) had earlier been paid in the first phase as compensation for displaced persons in the past 18 months
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
The Council also approved the sum of N710,382,000 (Seven Hundred and Ten Million, Three Hundred and Eighty- Two Thousand Naira) to cover transportation subsidy for the period between March and August 2026.
Prince Dotun Oyelade recalled that last year alone, over 4 million commuters, including pensioners, students, persons with disabilities, and other vulnerable groups, benefited from between 50 and 100 percent transportation subsidies in the State.
The State Executive Council noted the strategic importance of the ongoing reconstruction and rehabilitation of the Okaka Junction–Otu–Igbeti–Kishi road and the construction of bridges over the Otu and Ofiki rivers at a cost of N26,482,664,000 (Twenty-Six Billion, Four Hundred and Eighty-Two Million, Six Hundred and Sixty-Four thousand naira)
Council also approved the expansion of this project by N3,981,431,000 (Three Billion, Nine Hundred and Eighty-One Million, Four Hundred and Thirty-One Thousand Naira)
According to the Information Commissioner, 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 said that the completion will cost N126,912,000 (One Hundred and Twenty-Six Million, Nine Hundred and Twelve Thousand Naira)
Prince Oyelade added further that In continuation of the Administration’s belief in entrenching the State’s culture and expanding it’s global potentials, Council approved the hosting of the Year 2026 Oyo state International Tourism Summit, stressing that the Council believed that the approval will consolidate the huge successes recorded in previous editions.
