The Oyo State Executive Council has approved the sum of N5.8 billion as compensation for over 900 property owners affected by the ongoing Ibadan Circular Road project.

The approval was granted at the Council meeting chaired by Governor Seyi Makinde.

In a statement, the Commissioner for Information, Prince Dotun Oyelade, said a total of N5,813,000,000 would be paid to the affected property owners.

He noted that the compensation is aimed at addressing concerns and misinformation surrounding the project, while also accelerating development and boosting investor confidence in the state’s urban expansion plans.

The Council recalled that more than N800 million had earlier been disbursed as compensation to displaced persons in the first phase of the project over the past 18 months.

The Executive Council also approved N710.38 million to cover transportation subsidies between March and August 2026, as part of efforts to cushion the effects of fuel subsidy removal on residents.

Oyelade said the state’s Sustainable Action for Economic Recovery (SAfER) programme, introduced in 2023, has continued to support residents through food relief, healthcare, MSME support, and subsidised transportation.

According to him, over four million commuters, including pensioners, students, persons with disabilities, and other vulnerable groups, benefited from transportation subsidies of between 50 and 100 per cent in the past year.

The Council further highlighted the strategic importance of the reconstruction of the Okaka Junction–Otu–Igbeti–Kishi road, including the construction of bridges over the Otu and Ofiki rivers, at a cost of N26.48 billion.

An additional N3.98 billion was also approved for the expansion of the project.

In addition, the Council approved N126.91 million for the completion of the Oyo State Christian Wing multipurpose hall, a project initiated over 25 years ago during the administration of former Governor Lam Adesina.

The state government also approved the hosting of the 2026 Oyo State International Tourism Summit as part of efforts to promote cultural heritage and expand the state’s global tourism potential.

The Oyo State Executive Council has approved the sum of N5.8 billion as compensation for over 900 property owners affected by the ongoing Ibadan Circular Road project.

The approval was granted at the Council meeting chaired by Governor Seyi Makinde.

In a statement, the Commissioner for Information, Prince Dotun Oyelade, said a total of N5,813,000,000 would be paid to the affected property owners.

He noted that the compensation is aimed at addressing concerns and misinformation surrounding the project, while also accelerating development and boosting investor confidence in the state’s urban expansion plans.

The Council recalled that more than N800 million had earlier been disbursed as compensation to displaced persons in the first phase of the project over the past 18 months.

The Executive Council also approved N710.38 million to cover transportation subsidies between March and August 2026, as part of efforts to cushion the effects of fuel subsidy removal on residents.

Oyelade said the state’s Sustainable Action for Economic Recovery (SAfER) programme, introduced in 2023, has continued to support residents through food relief, healthcare, MSME support, and subsidised transportation.

According to him, over four million commuters, including pensioners, students, persons with disabilities, and other vulnerable groups, benefited from transportation subsidies of between 50 and 100 per cent in the past year.

The Council further highlighted the strategic importance of the reconstruction of the Okaka Junction–Otu–Igbeti–Kishi road, including the construction of bridges over the Otu and Ofiki rivers, at a cost of N26.48 billion.

An additional N3.98 billion was also approved for the expansion of the project.

In addition, the Council approved N126.91 million for the completion of the Oyo State Christian Wing multipurpose hall, a project initiated over 25 years ago during the administration of former Governor Lam Adesina.

The state government also approved the hosting of the 2026 Oyo State International Tourism Summit as part of efforts to promote cultural heritage and expand the state’s global tourism potential.