Oyo approves first compensation tranche for Ladoja Circular Road owners

Oyo State Governor Seyi Makinde has approved the payment of N4.6 billion as the first tranche of compensation to property owners affected by the ongoing Senator Rashidi Ladoja Circular Road project, with the money to be paid directly into beneficiaries' bank accounts. The governor disclosed the approval on Friday during a meeting with affected property owners along the corridor.

Makinde said all the processes required for the disbursement had been completed and that beneficiaries would begin receiving payment alerts immediately. He also reaffirmed the reduction of the setback in built-up areas along the project to 75 metres, a concession to residents who had raised concerns about the scope of the road, and said the corridor would be fenced to improve safety for people living nearby.

The governor assured owners whose buildings fall outside the revised setback that they had no cause for concern and could continue their normal activities, urging residents not to be misled by rumours about further demolitions. Speaking for the affected owners, Ahmed Abiodun, Kayode Oyejobi, Risikat Raji and Banke Adeyanju commended the government for approving the payment and for reviewing the setback, and pledged their support for the project.

Makinde said he had promised that compensation would be paid before the end of the month and considered it important to meet the owners personally before disbursement began. He described the Circular Road as a major infrastructure initiative expected to improve connectivity, stimulate economic growth and open up new development corridors across the state.

The payment follows a campaign in which the corridor's compensation question became a test of the state's handling of land acquisition for public roads. Clearing the first tranche removes an immediate source of friction with owners along the route, although the state will still need to settle subsequent phases as construction advances.