Circular Road: Makinde Announces ₦4.6bn Compensation for Property Owners

Oyo State Governor, Seyi Makinde, has announced plans to pay ₦4.6 billion in compensation to property owners affected by the ongoing Ibadan Circular Road project.

According to the announcement, the affected property owners are expected to receive bank alerts on Friday, October 31, 2026.

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The compensation is intended to address claims arising from properties affected by the construction of the major road project, which is designed to improve transportation and connectivity within Ibadan and surrounding communities.

The announcement is expected to bring relief to affected residents and property owners who have been awaiting compensation for properties impacted by the project.

The Circular Road is one of the major infrastructure projects undertaken by the Makinde administration as part of efforts to improve road transportation, ease movement and support economic activities across Oyo State.

The ₦4.6 billion compensation announcement also highlights the financial implications of acquiring land and properties for large-scale public infrastructure development.

However, details of the beneficiaries, the number of property owners expected to receive payments and the breakdown of the compensation have not been provided in the information available.

The payment announcement will therefore be closely watched by affected property owners, particularly those expecting confirmation of their individual compensation claims.

The development comes as the Oyo State Government continues to pursue infrastructure projects aimed at improving the state’s road network and strengthening economic opportunities.