The Oyo State Government has approved a total of N5.813 billion as compensation for more than 900 property owners affected by the ongoing construction of the Ibadan Circular Road project in Ibadan.
The approval was announced following an Executive Council meeting presided over by Governor Seyi Makinde, according to the Commissioner for Information, Prince Dotun Oyelade.
Oyelade said the payment is aimed at addressing concerns raised by affected residents and clearing lingering controversies around the project, while also boosting investor confidence in the state’s urban development agenda.
“A total sum of N5,813,000,000 has been approved for the settlement of over 900 property owners whose lands were impacted by the Ibadan Circular Road project,” he stated.
He added that the intervention is expected to “put an end to agitation and misinformation” surrounding the project and accelerate development efforts in Ibadan and across the state.
The council also recalled that over N800 million had previously been disbursed in the first phase of compensation within the last 18 months.
On post-subsidy palliative measures, the government said the Sustainable Action for Economic Recovery (SAfER), introduced in 2023, has continued to cushion economic pressures through food support, healthcare interventions, MSME assistance, and transport subsidies.
In addition, the council approved N710.38 million for transport subsidies covering March to August 2026. According to Oyelade, more than four million commuters—including pensioners, students, and persons with disabilities—benefited from 50 to 100 percent fare subsidies in the previous year.
The government also approved funding for major infrastructure projects, including the ongoing reconstruction of the Okaka Junction–Otu–Igbeti–Kishi road and bridge construction over the Otu and Ofiki rivers, valued at N26.48 billion. An additional N3.98 billion was approved to expand the project.
Council further approved N126.9 million for the completion of the Oyo State Christian Wing multipurpose hall, a project initiated over two decades ago under former Governor Lam Adesina.
Oyelade also announced approval for the 2026 Oyo State International Tourism Summit, describing it as part of efforts to promote the state’s cultural heritage and expand its global tourism potential.
The government reiterated its commitment to infrastructure renewal, social welfare, and economic recovery across the state.
