Oyo State Governor, Seyi Makinde, again invited investors into the development of the first phase of the Senator Rashidi Ladoja Circular Road corridor from the Tech U axis in Ibadan. In his November newsletter, the governor urged investors in light industry, logistics, and housing to assist in transforming the corridor into an economic hub that would create jobs, support innovation and increase housing opportunities within the state.
Makinde gave the reassurance of equity and minimum dislocation while work is ongoing on the 110km Circular Road. He reminded them that when he visited them earlier in 2024, the state government reduced the originally acquired 500-metre setback to 150 metres in already developed areas, while retaining 500 metres only in undeveloped zones. This adjustment, he said, made it possible to complete almost 32 kilometres of the project without unnecessary dislocation.
The governor, while addressing renewed complaints by residents of the area during his visit to Ologuneru in Ido Local Government Area on Wednesday, said work was progressing into the second 40-kilometre stretch of the project with the same setback policy still in operation: 150 metres on either side where there is a population and 500 metres where it has not reached.
To avoid confusion, he instructed residents to disregard any markings outside the approved 150-metre limit in developed communities. He also announced that the Oyo State New Towns and Cities Development Authority would henceforth be the only channel of engagement between the government and affected residents.
Makinde said that no demolition would be carried out without compensation, adding that where such compensations were considered inadequate, they would be looked into for necessary corrections.
Makinde described the Circular Road as a corridor of long-term development that will house light manufacturing, assembly plants, logistics hubs, warehousing facilities, commercial complexes, housing estates, mixed-use developments, and essential utilities such as power, water, and fibre infrastructure. He, therefore, called on both local and foreign investors to take advantage of the opportunities that such a project presents. According to him, the Circular Road is not just a transportation route but a transformative investment which would shape Oyo State’s economic future for generations.
