The Oyo State Government has released the total sum of ₦600 million as compensation to property owners affected by the ongoing Circular Road project in Ibadan.
The fourth batch of 200 million was released today at the office of the commissioner for lands housing and Urban development, Hon. Williams Akin Funmilayo.
This was disclosed in a statement signed by Prince Dotun Oyelade, the Hon. Commissioner for Information, Oyo State on Thursday, 21st August 2025.
According to the statement, Akin Funmilayo promised that the payment of the total sum of 1 Billion naira compensation will be completed soon.
“With this exercise, we are gradually approaching the ₦1 billion mark. Today, beneficiaries will receive between ₦3 million and ₦5 million each , with payments to be credited immediately, Akin Fumilayo said.
He explained that the Circular Road corridor was first acquired in 2006 and expanded in 2018 before Makinde assumed office and had witnessed all forms of encroachments ever since.
However, the governor directed that even though the corridor expansion did not take place under his watch, owners of both the legal and illegal structures should be compensated.
Akin Funmilayo cautioned beneficiaries against falling victims to fraudsters, stressing that they should report any government official who ask them for kickbacks.
On his part, Prince Dotun Oyelade described the project as one “ordained by God,” noting that its concept dated back to 2005
“If you look at it very well, it would appear that this is a project the Lord had ordained because the concept started 20 years ago by former Chief Governor Rashidi Ladoja who incidentally is being coronated as the Olubadan of Ibadanland 20 years after and after which the Circular road has been named after him’
Representatives of the beneficiaries, Alawiye Adebayo and Iyafin Abigeal Opelopeoluwa, commended Governor Makinde for keeping to his promises and demonstrating compassion in governance.