Circular Road: Oyo Disburses ₦5.35bn Compensation to 578 Property Owners

The Oyo State Government has disbursed ₦5.35 billion in compensation to 578 property owners affected by the ongoing construction of the Ibadan Circular Road project.

The payment forms part of the government’s efforts to compensate individuals whose properties and assets were affected by the infrastructure development.

Governor Seyi Makinde’s administration said the compensation exercise was designed to ensure that property owners received payments for their affected assets as construction work continued.

The Ibadan Circular Road, one of the state’s major infrastructure projects, is intended to improve transportation, ease traffic congestion and support economic activities across Ibadan and surrounding communities.

The project is also expected to provide an alternative route for motorists, reduce pressure on existing roads and improve connectivity between different parts of the state.

The disbursement comes amid public discussions about the project’s impact on communities, particularly residents and property owners whose land and buildings fall within the designated construction corridor.

Compensation payments are an important part of the acquisition process, as governments are expected to address the interests of people whose properties are required for public infrastructure projects.

The state government has maintained that the Circular Road is central to its broader development plans and will create opportunities for investment, commercial activities and urban expansion.

The ₦5.35 billion payment to 578 property owners represents a significant financial commitment by the state towards addressing the concerns of those affected by the project.

However, the government will also be expected to sustain transparency in the compensation process and ensure that all eligible property owners are treated fairly as the project progresses.

The Circular Road remains one of the major infrastructure projects under the Makinde administration, with its completion expected to influence transportation and development across the Ibadan metropolitan area.