The Oyo State Government has announced the payment of N100 million compensation to 50 property owners affected by the Ibadan Circular Road project, fulfilling Governor Seyi Makinde’s earlier promise to prioritize fairness and resettlement.
The cheques were presented at the Ministry of Lands, Housing and Urban Development, Agodi, Ibadan. Commissioner for Lands, Williams Akin-Funmilayo, explained that this is the second phase of payments, following an earlier disbursement of N300 million to the first batch of beneficiaries. He added that the third phase will be completed in the coming weeks to cover all affected property owners.
The commissioner emphasized that the Ibadan Circular Road compensation reflects the government’s commitment to sustainable urban development while protecting the rights of its citizens. He urged the beneficiaries to make judicious use of the funds to resettle smoothly.
Responding on behalf of the property owners, Mr. Jelili Folorunso and Mrs. Mustura Adigun thanked the government for honoring its word, noting that the funds would greatly ease their transition to new homes.
The Ibadan Circular Road project is a flagship infrastructure development designed to ease traffic congestion, open new economic corridors, and boost property values across Oyo State. By compensating affected residents, the government is not only pushing forward with infrastructure growth but also supporting real estate stability in Ibadan.
At Property Media Week (PMW), we highlight such projects because they demonstrate how compensation, infrastructure, and property investment intersect to shape the Nigerian real estate landscape. The Ibadan Circular Road is set to become one of the most transformative infrastructure projects in the South-West.
