The Oyo State Government, led by Governor Seyi Makinde, is facing renewed criticism over the compensation paid to some residents whose properties were affected by the Ibadan Circular Road project, with affected residents questioning the basis for a reported N456,000 valuation placed on a fully developed four-bedroom home.
In a statement released by the Secretary of Ibadan Circular Road Corridor Residents Azeez Abass Olaide described the payment as grossly inadequate, arguing that the amount bears little or no resemblance to the value of the property allegedly acquired or demolished.
According to the residents, the property in question was a fully developed four-bedroom stand-alone house situated on a full plot of land, with features including fencing and a gate, Gerard roofing, an industrial borehole, POP finishes and other improvements.
They questioned how such a property could be assessed at N456,000 and subsequently presented to its owner as compensation.
“Is that compensation or mockery?” the residents asked, insisting that compensation for acquired property should reasonably reflect the value of the land, structures and improvements lost by affected owners.
The controversy adds to the growing concerns surrounding the displacement of residents along the Ibadan Circular Road corridor, where affected property owners have staged protests over the demolition and acquisition of their properties.
The residents argued that the issue goes beyond the amount paid, stressing that the valuation process itself must be subjected to scrutiny and public accountability.
They demanded answers from the Oyo State Government on who determined the N456,000 valuation, the methodology adopted, the assessed value of the land and the replacement cost of the building.
They also questioned whether critical features of the property including the fencing, gate, borehole, roofing, POP finishes and other improvements were adequately captured in the assessment.
“How can N456,000 enable a displaced property owner to acquire or rebuild anything remotely comparable?” the residents asked.
The group maintained that government acquisition for infrastructure development should not translate into the impoverishment of citizens whose properties are affected.
It called for a transparent and independently verifiable review of the compensation process, insisting that affected residents deserve fair valuation rather than what it described as token payments.
The residents further appealed to the Makinde administration to reconsider the compensation process and engage directly with affected property owners to address their grievances.
They said the properties being affected were not merely entries on government valuation documents but represented years of personal sacrifice, investment, family security and livelihoods.
“If N456,000 is truly being offered for a fully developed four-bedroom home on a full plot of land, then affected residents have every right to demand answers,” the group said.
The residents warned that the controversy over compensation could further deepen public resentment over the Circular Road project unless the government addresses the concerns surrounding property valuation and compensation.
They urged the Oyo State Government to review the affected properties based on realistic land values, construction costs, improvements and other legitimate considerations.
