Oyo State Approves N5.813bn Compensation for 900+ Property Owners on Circular Road

IBADAN, Oyo State, Nigeria – The Oyo State Executive Council on Tuesday approved fresh financial commitments to accelerate infrastructure delivery, support affected citizens and cushion economic hardship for residents.

NaijaChoice News gathered that the decisions, taken at the meeting presided over by Governor Seyi Makinde, centre on the ongoing Rashidi Ladoja Circular Road and other priority projects.

Council released an additional N5.813 billion as compensation to more than 900 property owners whose lands fall within the 110-kilometre circular road corridor. The project, which encircles Ibadan, is designed to ease chronic traffic gridlock and open up new economic corridors in the state capital.

In a related move, the ExCo approved N3.981 billion for the reconstruction of the Okaka Junction–Otu–Igbojaiye–KAP Film Village Road. The sum, which covers bridge construction over the Otu and Ofiki rivers, brings the total project cost to N30.464 billion and will improve access to the fast-growing film hub in Oke-Ogun.

The council also voted N126.912 million to complete the Oyo State Christian Wing multipurpose hall, a project first started over 25 years ago during the administration of late Governor Lam Adesina. Officials say the facility will serve pilgrims and faith-based events once finished.

To further support workers and commuters, N710.382 million was approved for transportation subsidies under the Sustainable Actions for Economic Recovery (SAfER) programme. The funds will run from March to August 2026, extending relief amid rising transport costs.

In the same vein, the ExCo gave the nod for Oyo State to host the 2026 edition of the International Tourism Summit. The event is expected to build on gains from previous editions and showcase the state’s rich cultural heritage and investment potential to global audiences.

These approvals reflect the state government’s continued push to deliver tangible dividends of democracy, from road infrastructure to citizen welfare and tourism growth.

Residents in affected communities are expected to receive their compensation promptly, while contractors have been urged to fast-track work on the approved projects.