The Oyo State Executive Council has approved ₦5.813 billion in compensation for over 900 property owners affected by the Ibadan Circular Road construction.
The state commissioner for information, Prince Dotun Oyelade, announced the decision, stating that the payment aims to resolve land disputes and accelerate urban development.
Chaired by Governor Seyi Makinde, the council noted that the compensation will foster investor confidence and realise the administration’s vision for a transformed Ibadan.
This follows a previous disbursement of over ₦800,000,000 paid to displaced persons during the project’s first phase.
In addition to land compensation, the Council approved ₦710,382,000 to fund transportation subsidies from March to August 2026.
Oyelade highlighted that previous subsidy programmes have already supported over 4 million commuters, including students, pensioners, and persons with disabilities.
The Council approved ₦26,482,664,000 for the reconstruction of the Okaka Junction-Otu-Igbeti-Kishi road and the construction of bridges over the Otu and Ofiki rivers. An additional ₦3,981,431,000 was also approved to expand the project.
Other key approvals include ₦126,912,000 to complete the Oyo State Christian Wing multipurpose hall, a project initiated over 25 years ago, and the hosting of the 2026 Oyo State International Tourism Summit to boost the state’s global profile.
Oyelade emphasised that the highlighted interventions are part of the Sustainable Action for Economic Recovery (SAfER) programme, which provides food relief, health insurance, and MSME support to mitigate the impact of fuel subsidy removals.
