Oyo Approves ₦5.813bn Compensation for Ibadan Circular Road Project

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 The Oyo State Executive Council has approved ₦5.813 billion as compensation for over 900 property owners affected by the ongoing Ibadan Circular Road project.

The Commissioner for Information, Prince Dotun Oyelade, disclosed this in a statement on Wednesday, noting that the decision was aimed at addressing displacement concerns and sustaining progress on the major infrastructure project.

According to him, the compensation is expected to ease tensions and dispel misinformation surrounding the project, while creating room for faster planning and development.

He added that the move would also boost investor confidence and support the government’s vision of transforming urban development in Ibadan and across the state.

Oyelade recalled that more than ₦800 million had earlier been paid to affected residents in the first phase of compensation within the past 18 months.

He said the state government had continued to support residents amid economic challenges, particularly following the removal of fuel subsidy.

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

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