The Oyo State Executive Council, chaired by Governor Seyi Makinde, has approved the payment of compensation to more than 900 property owners affected by the ongoing construction of the Ibadan Circular Road.
This was disclosed in a statement issued by the Commissioner for Information, Dotun Oyelade, who confirmed that a total sum of over N5.8 billion has been earmarked for the affected individuals.
According to the council, the compensation is expected to address concerns, reduce agitation, and dispel misinformation surrounding the infrastructure project. It also aims to facilitate smoother execution and accelerate development plans tied to the circular road initiative.
The council further recalled that in the past 18 months, more than N800 million had already been disbursed during the first phase of compensation to displaced persons.
In a related development, the council approved an additional N710 million to fund transportation subsidies for residents across the state between March and August 2026.
Oyelade also revealed that the council endorsed the hosting of the 2026 Oyo State International Tourism Summit, as part of efforts to promote the state’s cultural heritage and boost its global visibility.
He noted that the forthcoming summit is expected to build on the achievements recorded in previous editions and further position Oyo State as a key tourism destination.
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