The Oyo State government has paid over N100million as compensation for a business owner along the Ajia, Egbeda road, whose property was demolished to pave the way for the construction of the ongoing circular road construction.
The cheque was presented to Messers Fasbok Global Resource Limited, Ajia Egbeda, Ibadan, by the Permanent Secretary of the Ministry of Lands, Housing and Urban Development, Mrs Mofoluke Adebiyi on Friday.
Presenting the cheque of part payment to the owner of the company, she said the Oyo State Government supports industrial development.
It would be recalled that the Oyo State Government had earlier compensated farmers along the circular road project, after which their produce was valued by the state ministry of agriculture and natural resources.
The Permanent Secretary added that Messers Fasbok Global Resources Limited property was affected in the construction of circular road project by the State Government.
The victim (name withheld) appreciated the State Governor, Seyi Makinde for his love and passion for the people of Oyo State.
“I had mixed feelings, because it is more than a year that the company was demolished, I had to borrow money to start my business from the scratch again with the promise that we will be compensated very soon”.
Today, I thank God and the government as I have collected the compensation, I looked forward to”, he said.
More than ever, the long talked about construction of the 110 kilometres Ibadan Circular Road, now christened the Senator Rashidi Ladoja Circular Road, is now taking shape under the Governor Seyi Makinde administration.
It was envisioned in 2002 when the late Lam Adesina administration constituted an inter-ministerial committee for the purpose of construction of the road, however, the realisation of the road has continued to elude successive administrations till date.
The circular road connects the Lagos-Ibadan expressway to the Ibadan-Ife expressway, thereby taking away some traffic congestion from Ibadan metropolis and hastening travel time out of Ibadan.
A major step towards actualising the circular road project was in 2005 when the Senator Rashidi Ladoja administration awarded the contract for the survey of the road, followed by the evolution of the engineering design for the project.
Ladoja stated that his administration commissioned the design for the project, paid compensation, concessioned it to two contractors: KOPEK and CECCC, and earmarked about N5 billion to start the project, but his removal from office reportedly delayed commencement of the project.
The contract for the construction of the road, which was divided into two phases, was awarded to two contractors by the administration.
On September 29, 2022, Governor Seyi Makinde named the road after Ladoja.