Oyo State Governor, ‘Seyi Makinde, has approved ₦4.6 billion as the first tranche of compensation for property owners affected by the ongoing Senator Rashidi Ladoja Circular Road project.
The governor also reaffirmed the 75-metre setback in built-up areas along the project corridor, addressing concerns raised by residents over the extent of properties to be affected.
Makinde disclosed this on Friday, October 30, during a meeting with affected property owners, assuring them that the compensation would be paid directly into their bank accounts, with disbursement commencing immediately.
He said the government had completed all necessary processes for the payment, adding that beneficiaries would begin receiving payment alerts from Friday night or Saturday morning.
“We have processed ₦4.6 billion for the first phase of compensation payments. The money will be paid directly into beneficiaries’ accounts, and recipients should begin to receive payment alerts from tonight or by tomorrow morning,” the governor said.
Makinde further explained that the setback in built-up areas had been reviewed to 75 metres, adding that the corridor would be fenced to enhance safety and protect residents living within the area.
He said property owners whose buildings fall outside the 75-metre setback had nothing to worry about and could continue with their normal activities.
The governor urged residents not to be misled by rumours, assuring them that his administration remained committed to protecting their interests and wellbeing.
“This is your government. Do not allow anyone to deceive you. I promised that compensation would be paid before the end of this month, and I considered it important to meet with you personally before the payment process commenced,” he said.
He described the Circular Road as a critical infrastructure project expected to improve connectivity, stimulate economic activities and open up new development corridors across Oyo State.
Speaking on behalf of the affected property owners, Ahmed Abiodun, Kayode Oyejobi, Risikat Raji and Banke Adeyanju commended the governor for approving the compensation and reviewing the setback to 75 metres in built-up areas.
They expressed appreciation for the government’s response to their concerns and pledged their continued support for the success of the administration.
