Oyo govt says payout will quell disputes, boost investor confidence, and fast-track urban development

The Oyo State Executive Council, chaired by Governor Seyi Makinde, has approved a N5.8 billion compensation package for more than 900 property owners affected by the ongoing Ibadan Circular Road construction.

According to a statement by the Commissioner for Information, Prince Dotun Oyelade, a total of N5,813,000,000 will be disbursed to impacted landowners as part of efforts to address concerns arising from the project.

The Council said the compensation is expected to put an end to lingering agitation and curb misinformation surrounding the initiative. It also noted that the move will clear the path for faster project execution, strengthen investor confidence, and drive the state’s broader vision of modern urban development.

The Ibadan Circular Road project is a key infrastructure plan of the Makinde administration aimed at transforming the state capital and positioning Oyo as a major economic hub.