Makinde approves ₦4.6bn first payment to Circular Road property owners
- Oyo governor Seyi Makinde has approved ₦4.6bn as first tranche compensation for owners affected by the Senator Rashidi Ladoja Circular Road.
- Makinde said payments go straight into beneficiaries' bank accounts, with alerts expected from Friday night or Saturday morning.
- He also confirmed a 75-metre setback for built-up areas along the corridor, which will be fenced.
Oyo State Governor Seyi Makinde has approved ₦4.6 billion as the first tranche of compensation for property owners affected by the Senator Rashidi Ladoja Circular Road project.
The governor announced the payment on Friday at a meeting with affected property owners along the road corridor, according to a statement from his Special Adviser on Media, Sulaimon Olarenwaju.
Makinde said the money will be paid directly into beneficiaries' bank accounts, and that recipients should start seeing payment alerts from Friday night or Saturday morning.
"We have processed ₦4.6 billion for the first phase of compensation payments," the governor said, adding that the government had completed all the necessary processes.
The payment covers Section One of the road project. Hundreds of property owners whose buildings and other assets fall within the road's right of way are expected to benefit.
Setback stays at 75 metres
Makinde also addressed concerns about the 75-metre setback for built-up areas along the corridor, confirming it has been reviewed to that distance.
He said the corridor will be fenced to improve safety and protect residents. Property owners whose buildings fall outside the 75-metre setback, he added, have nothing to worry about and should go on with their normal activities.
"This is your government. Do not allow anyone to deceive you," Makinde told the property owners, urging them to ignore rumours.
He said he had promised compensation before the end of the month and felt it was important to meet the owners in person before payments began.
The governor described the Circular Road as a critical infrastructure project that will improve connectivity, boost economic growth and open up new development areas across Oyo State.
Speaking for the affected owners, Ahmed Abiodun, Kayode Oyejobi, Risikat Raji and Banke Adeyanju thanked the governor for approving the compensation and for reviewing the setback. They pledged their continued support for his administration.
Some of the owners said they were confident that other concerns about the road construction would be resolved before the end of the Makinde administration.
What happens next
Beneficiaries should watch their bank accounts for alerts from Friday night. Owners whose buildings sit outside the 75-metre setback can continue using their property while work on the road goes on.
