More than 900 property owners affected by the Ibadan Circular Road project will receive N5.8 billion in compensation, the Oyo State Government has said.
The decision was taken at the State Executive Council meeting chaired by Governor Seyi Makinde. The move is expected to calm growing concerns among affected residents and speed up work on the major road project.
In a statement on Wednesday, the Commissioner for Information, Dotun Oyelade, said a total of N5,813,000,000 had been approved for those whose properties were touched by the construction.
He explained that the payment would address complaints and clear doubts about the project. He added that it would also help the government move faster with development plans linked to the road.
The statement read, “The compensation will not only put a stop to agitation and misinformation, but will also pave the way for faster development and attract investors.”
The government noted that this is not the first payment to affected residents. It recalled that over N800 million had already been paid in the last 18 months as part of the first phase of compensation.
Officials say the Ibadan Circular Road is key to opening up new areas for housing, business, and transport. The project is also seen as part of a wider plan to reshape Ibadan into a modern city.
Apart from the compensation, the Council also approved N710.3 million for transport subsidy between March and August 2026. The government said the subsidy would ease transport costs for residents still dealing with the impact of fuel subsidy removal.
According to Oyelade, millions of people have benefited from similar support in the past. He said over four million commuters, including students, pensioners, and persons with disabilities, enjoyed between 50 and 100 per cent transport fare cuts last year.
The Council linked these efforts to its broader economic support plan known as the Sustainable Action for Economic Recovery, introduced in 2023. The programme includes food support, health insurance, and help for small businesses.
Still, the highlight remains the N5.8 billion compensation, which signals the government’s attempt to balance development with the welfare of citizens.
The payment, for many affected property owners, may bring relief after months of uncertainty. It is, for the government, a step towards keeping a major infrastructure project on track without leaving residents behind.