IBADAN, NIGERIA — Governor Seyi Makinde has approved the sum of N5.8 billion as compensation for over 900 landowners affected by the ongoing Circular Road project in Oyo State, in a move aimed at accelerating infrastructure development and boosting investor confidence.
The approval was announced on Tuesday, April 21, 2026, at approximately 1:15 p.m., during a state executive briefing held at the Governor’s Office in Ibadan, where officials provided updates on the progress of the major road project.
According to the state government, the compensation package is intended to address concerns of property owners whose lands were acquired for the construction of the Circular Road, a key infrastructure initiative designed to ease traffic congestion and open up new economic corridors across the state.
Officials explained that over 900 affected landowners have been verified and cleared for payment under the approved compensation plan. The government stated that the disbursement process will be conducted in phases, ensuring transparency and proper documentation throughout the exercise.
The Circular Road project is considered a strategic development effort aimed at improving connectivity between major parts of Ibadan and surrounding areas. It is also expected to attract investment by enhancing access to industrial zones, residential developments, and commercial hubs.
Governor Makinde’s administration has emphasized its commitment to fair compensation as part of its infrastructure expansion policy, noting that timely payments help reduce disputes and build trust between government and affected communities.
Stakeholders in the state have welcomed the move, describing it as a positive step toward balancing development with the rights of landowners. They noted that compensation plays a critical role in ensuring cooperation and smooth execution of large-scale public projects.
Economic analysts say the project could significantly impact urban growth in Oyo State, particularly by improving transportation efficiency and creating opportunities for real estate and business expansion along the corridor.
The government also highlighted that the Circular Road forms part of a broader strategy to modernise infrastructure and position Oyo State as a competitive destination for investors.
As implementation continues, attention will focus on the timely disbursement of funds and the overall execution of the project, which is expected to reshape mobility and economic activity within the state.
