Circular Road: Makinde Approves N4.6b Compensation For Affected Property Owners
Oyo State Governor, Engineer ‘Seyi Makinde has approved the payment of ₦4.6 billion as the first tranche of compensation to property owners affected by the ongoing Senator Rashidi Ladoja Circular Road project and reaffirmed a 75-metre setback in built-up areas, addressing major concerns raised by residents along the corridor.
Governor Makinde disclosed this during a meeting with affected property owners along the Circular Road.
The Governor assured beneficiaries that the compensation would be paid directly into their bank accounts and that disbursement would commence immediately.
According to him, the government has completed all necessary processes for the payment of the first tranche of compensation.
He said: “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.”
Governor Makinde also reiterated that the setback in built-up areas along the project corridor had been reviewed to 75 metres. He added that the corridor would be fenced to enhance safety and protect residents living within the area.
He explained that property owners whose buildings fall outside the 75-metre setback have no cause for concern and should continue with their normal activities.
The Governor urged affected residents not to be misled by rumours or misinformation, reiterating that his administration remains committed to protecting the interests and wellbeing of the people.
Governor Makinde reaffirmed his administration’s commitment to the successful delivery of the Senator Rashidi Ladoja Circular Road project, describing it as a critical infrastructure initiative that will improve connectivity, stimulate economic growth, and open up new development corridors across Oyo State.
Speaking on behalf of the affected property owners, Mr. Ahmed Abiodun, Mr. Kayode Oyejobi, Mrs. Risikat Raji and Mrs. Banke Adeyanju commended the Governor for approving the immediate payment of compensation and reviewing the setback for built-up areas to 75 metres.
